HRA 01/03/2013 January 3, 2013
HRA Meeting
Regular Meeting Agenda
7:00 p.m.
Call to order
Roll call
Action Items
1. Welcome New Commissioner Gordon Backlund
2. Approval of Expenditures
3. Approval of December 6, 2012, Meeting Minutes
4. Approval of Resolution Designating Official Depositories
5. Approval of Resolution Designating Official Newspaper
6. Approval of Resolution Ratifying Transfer of Funds
7. Approval of 2013 Budget
8. Approval of Resolution Authorizing Negotiations for Sale of 6071 University
Avenue NE
9. Approval of Addition to Housing Replacement Program
Informational Items
1. Housing Loan Program Update
Adjournment
K:\COMMISSION AGENDAS\HRA Commission\2013 HRA Commission Agendas\13 01 03 HRA Agenda.docxK:\COMMISSION
AGENDAS\HRA Commission\2013 HRA Commission Agendas\13 01 03 HRA Agenda.docx
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CITY OF FRIDLEY
HOUSING AND REDEVELOPMENT AUTHORITY COMMISSION
December 6, 2012
CALL TO ORDER:
Chairperson Commers called the HRA Meeting to order at 7:02 p.m.
ROLL CALL:
MEMBERS PRESENT: William Holm
Pat Gabel
Larry Commers
Stephen Eggert
OTHERS PRESENT: Paul Bolin, HRA Assistant Executive Director
Scott Hickok, Community Development Director
William Burns, City Manager
Darin Nelson, Finance Director/Treasurer
Becky Kiernan, Accountant
ACTION ITEMS:
1. Approval of Expenditures
MOTION by Commissioner Holm to approve the expenditures. Seconded by Commissioner
Gabel.
UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY
2. Approval of November 1, 2012 Meeting Minutes
MOTION by Commissioner Gabel to approve the minutes as presented. Seconded by
Commissioner Eggert.
Commissioner Eggert asked for the following corrections to be made:
Page three, second paragraph from the bottom, third sentence should read "offer lower
and we were not successful."
Page five, first paragraph, first sentence should read "William Burns, City Manager,
stated that an article in the May newsletter reported home sales in Fridley were now
reporting 41% distressed housing sales compared to 55.6% the end of May."
HRA Meeting of December 6, 2012 2
UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE MINUTES
APPROVED AS AMENDED
3. Review of Draft 2013 Budget
Becky Kiernan, HRA Accountant, stated that the final TIF numbers from Anoka County
will lead to staff making revisions to the draft budget and then presenting a final version for
consideration at the January HRA meeting.
Ms. Kiernan stated that the budget is divided into three separate categories. The General
Fund covers the bulk of the administrative and overhead costs of the HRA. The Housing
Loan Program Fund covers the housing related programs and services (CEE programs, etc.).
And the Capital Outlay Funds which include all of the tax increment (TIF) districts. A 2013
draft budget packet including fund balances as of September 30, 2012 and detailed budget
sheets for the categories mentioned above has been included in the Authority's packets.
Chairperson Commers asked to review each line item.
Ms. Kiernan said that the General Fund revenues decreased by about $29,000 from last year
and salaries and administrative charges including benefits remained consistent with 2012.
The difference are the professional fees for Jim Casserly as all the fees were combined and
taken out of the General Fund rather than allocated to each sub district. This will keep the
charges consistent and when the tax increment is received, 10% will be taken off the top for
administration fees.
Chairperson Commers asked about recovering attorney fees from projects like BAE.
Darin Nelson, Finance Director, said that he spoke with Mr. Casserly and the BAE site is
allocated separately since that is a new district. The older tax districts are capturing full
administrative fees.
Chairperson Commers asked if the developer pays the legal fees for the BAE project.
Ms. Kiernan replied that is coded as a different project and will be reflected when we review
that area.
Ms. Kiernan said that expenses for the General Fund are $479,000 for a deficit of$54,000
for the coming year. The Revolving Loan Program shows revenues of$93,800 which
includes interest on investment, mortgages and the Home and Garden Show. There is also an
estimate for the purchase of land for a possible remodeling demo house. The total expenses
are $867,000.
Chairperson Commers asked where the reimbursement was from the other municipalities
for the Home and Garden Show.
HRA Meeting of December 6, 2012 3
Paul Bolin, HRA Assistant Executive Director, replied that the income for the Home and
Garden Show will show up as miscellaneous revenues and are received from vendors of the
show. In 1995 or 1996 Fridley took on the role of the fiscal agent for this show. The cities
made an initial contribution to fund the show. The Authority has kept the excess funds over
the years with the agreement that if the show has a short fall the Authority would take care of
that.
Commissioner Gabel was confused because the budget heading said Home and Garden
Show.
Mr. Bolin said that the list was not all for the Home and Garden Show. The professional
services are mostly for Castle Visions but there is advertising and utility services, for
example, that are not necessarily for the Home and Garden Show.
Chairperson Commers thought the Home and Garden Show should be kept in one category.
William Burns, City Manager, said that the numbers are pretty close; $24,600 for the Home
and Garden Show and revenues are $22,500. Something must be in one of the line items that
doesn't belong to the Home and Garden Show.
Commissioner Gabel thought it would be nice to keep it separate.
Mr. Bolin said that the remodel advisor visits are in that fund too so it isn't just the Home
and Garden Show.
Ms. Kiernan noted that these are just estimates, not exact figures.
Dr. Burns asked if it was appropriate to have the home remodel demo project in this fund or
if it fits somewhere else.
Ms. Kiernan replied that the city is using funds from the housing loan program for that
project.
Ms. Kiernan said that the Lakepoint/Medtronic's revenues are $727,000 with the tax levy
and interest on investments. The expenses are administrative fees and parking facilities with
a net income of about $2,000 for next year.
Chairperson Commers asked what the city could recapture out of the funds under the state
statute for administrative fees.
Ms. Kiernan replied 10%. The Winfield district will be decertified at the end of this year.
The current balance is $320,000.
Chairperson Commers asked if those funds would go to the General Fund.
Ms. Kiernan replied that district will be decertified and the funds will go back to the County.
HRA Meeting of December 6, 2012 4
Chairperson Commers thought they were going to do something about that.
Mr. Bolin said that there were discussions in June with Jim Casserly and Greg Johnson on
spending down some of these funds. Staff does have some thoughts on how to get those
balances down.
Ms. Kiernan said that some balances in other TIF districts are negative and we can use this
to balance it out.
Mr. Bolin said staff will bring that back to the Authority with the final budget.
Chairperson Commers asked when the district closed.
Ms. Kiernan answered December 31, 2012
Dr. Burns added that there is a sizable tax petition on Medtronic and it is uncertain how that
will affect revenues, but a solution can be negotiated.
Ms. Kiernan said on page seven, the Onan district decertification will end in 2015. The tax
levy includes $350,000 with expenses of$35,000 or 10%. This leaves an ending fund
balance of$1.753M.
Chairperson Commers thought a commitment was made to use those funds in other
districts, like the BAE project.
Mr. Bolin replied yes.
Chairperson Commers asked if that would prevent these funds from going back to the
County. He asked staff to verify with Mr. Casserly.
Mr. Bolin said that the plan is to use these funds for projects.
Commissioner Holm thought the Authority had to have legislation that permitted that to
happen.
Mr. Bolin answered yes, that is correct.
Ms. Kiernan stated that University and Osborne TIF 11 will be decertified in 2018. The
fund balance is $92,000 with revenues of$60,000, professional fees of$6,000 for a net
income of$54,000. This has a balance of$146,000 at the end of December. TIF district 12,
McGlynns, didn't recover tax capacity. Revenues are $40,000 per year with a negative
balance of$15,000 at the end of December. 2014 will show a zero balance for that fund.
Ms. Kiernan stated that the Satellite TIF district 13 has a negative balance of$4,000 now,
the tax levy will turn around this year and interest on investments will be $90,000, expenses
HRA Meeting of December 6, 2012 5
$9,000 ending in a positive balance of$81,000. This district terminates in 2023. The 57th
Avenue TIF district 16 shows a negative balance of$95,000 and tax levy of$27,000 for 2013
with administrative fees of$2,700. The net income is $24,000 and ending fund balance is
negative $71,000. The Gateway East TIF district 17 will be decertified in 2028. This fund
shows a negative $700,000 now, revenues of$30,000, and administrative fees of$3,000 for a
net income of$27,000. This district still reflects a negative $673,000 balance. The Gateway
West has a$1.5M levy, $9,500 in revenues, $8,400 in expenses reflecting a negative balance
of$1.5M at the end of 2013.
Commissioner Holm asked if the sale of property was included in those figures.
Mr. Bolin said that property closed about a month ago and adding that may change the
income.
Ms. Kiernan stated that the Main Street TIF district 19 has a fund balance of negative
$18,000 with revenues of$116,000 less expenses will be a net income of$104,000. This
district needs to be corrected as the income is incorrect. This is a pay as you go so the
income will be around negative $15,000. The Gateway Northeast district is just certifying to
taxes. Expenses are $311,000, added to the negative, the fund will be negative $1.6M.
Commissioner Holm thought that seemed low.
--� Ms. Kiernan replied that some funds were transferred into that district. The Housing and
Replacement program shows revenues of$30,000, sale of properties and vacant lots are
included in the revenue of$122,000. $500,000 is expected from capital outlay if homes are
available. This leaves a negative balance of$758,000 at the end of the year 2013.
Ms. Kiernan said that these numbers are just summaries and does not show any of the
Authority's cash balances.
Commissioner Holm asked if the net income is negative $54,000 but combined net income
is $200,000.
Chairperson Commers said that overall the district in terms of where we are is down $2.8M
and the General Fund has $7.2M but that is not an offsetting balance.
Ms. Kiernan said that the Housing Program has $2.4M in it.
Chairperson Commers said that the Authority can transfer out of that fund.
Mr. Bolin answered yes.
Commissioner Holm asked if the Authority had paid off the loan to the city so that it is
gone.
n Mr. Bolin answered yes.
HRA Meeting of December 6, 2012 6
4. Award of Demolition Contract—Housing Replacement Program
Paul Bolin, HRA Assistant Executive Director, stated that the Authority worked with the
City's Engineering Department to solicit bids for the demolition of three properties. Staff
estimated the bids would be in the $30,000 to $45,000 range. A total of seven contractors
purchased the bid packet plans. Four contractors conducted site visits of the properties and
two contractors submitted completed bids prior to the bid opening. The low bid was
$67,350.
Mr. Bolin said that Staff recommends the HRA approve a motion rejecting all bids
submitted for HRA Demolition Project#426 as the bids were well in excess of going rates
for residential demolitions. Staff further recommends that the Authority authorize Staff to
solicit negotiated quotes from two or more demolition contractors and authorize the Chair
and Director to enter into a demolition contract not to exceed $45,000.
Commissioner Gabel thought this was a short time frame for contractors to present bids.
Mr. Bolin said that this time frame is not any shorter than in the past. Part of the problem
was that the bids were requested during Minnesota and Wisconsin deer hunting season and
Thanksgiving so the city did not get a lot of bids. Two bids were even received after the
bidding was closed.
MOTION by Commissioner Eggert to reject all bids submitted for HRA demolition project
#426. Seconded by Commissioner Gabel.
UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY
MOTION by Commissioner Gabel to authorize staff to solicit and negotiate quotes from two
or more demolition contactors and authorize the Chair, Vice Chair or Director to enter into a
demolition contract not to exceed $45,000. Seconded by Commissioner Eggert.
UPON VOICE VOTE,ALL VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY
5. Extension of Brokerage Agreement
Paul Bolin, HRA Assistant Executive Director, stated that in November of 2011, the
Authority signed a brokerage agreement with Premier Commercial Properties to
market/broker the GWNE property. Premier has aggressively marketed the property and
provided a number of leads. Staff recommends the Authority approve a motion extending
the length of the brokerage agreement through June 30, 2013.
Chairperson Commers asked if staff had a strategy or plan on how that property is to be
divided up.
HRA Meeting of December 6, 2012 7
Mr. Bolin said that everything is speculative at this point except at the January meeting staff
will bring forward a development agreement for the former Sinclair site. Mr. McNutt would
like to break ground this spring and will come before the Authority next month as an action
item.
Commissioner Gabel did not like the idea of selling only one piece of property.
Commissioner Eggert agreed that it is hard to sell the best part first.
Mr. Bolin replied that staff has been working with three groups and there is a group out of
Florida that owns the Citgo site across the street and they share an architect with Mr. McNutt.
They don't see this building as being a deterrent to what they will be doing. They will be
doing retail that would extend south on University Avenue. Staff is also communicating with
a housing developer who does upscale rentals who would like to do 50 units of upscale urban
housing. A clubhouse to the south would connect to another upscale rental building aimed at
the 55+crowd. These entities would share underground parking. The way things are
working out with these groups, the pieces that they want are the ones that will be available.
A benefit to the housing development would be retail and the retail developers like the idea
of having housing density next to their site.
Commissioner Eggert said it is a good idea to start with something nice and it's not all
going to happen at one time. If the development starts with something nice the others will
fill in.
Commissioner Gabel likes the idea but thought it would be all tied together somehow. She
understands that there needs to be a catalyst and maybe this would get the ball rolling. She is
hesitant about selling off that piece before the others get rolling.
Mr. Bolin replied that Mr. McNutt wants to build this spring and has been talking to staff
since June.
Chairperson Commers said that the Authority would want the buildings to be
architecturally compatible.
Mr. Bolin said that all proposals will come before the HRA for approval.
Commissioner Eggert said it is difficult to get a single buyer to develop the entire area.
The Authority can work on the appearance together.
Mr. Bolin added that since the retailers share an architect it will be easier creating a unified
look. The goal is to have this function as one campus, even if it is under two different
owners.
HRA Meeting of December 6, 2012 8
Scott Hickok, Community Development Director, stated that they share an architect. There
is an opportunity to do both quadrants of the intersection and for the developments to be
reflective of each other.
Mr. Bolin said that staff have not found a single group interested in developing the entire
site; everyone would like to have the corner and build down from there. This area will likely
end up being a mix of retail and housing.
MOTION by Commissioner Holm to approve the extension of the brokerage agreement.
Seconded by Commissioner Gabel.
UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY
INFORMATIONAL ITEMS:
1. Housing Replacement Program Update
Paul Bolin, HRA Assistant Executive Director , stated that year to date there are 14 loans
and 21 remodel advisor visits. Last year at this time we had 10 loans total and the remodel
advisor visits last year at this time were 10 so we have increased quite a bit since last year.
NON-AGENDA ITEMS:
Chairperson Commers said that Dr. Burns has done a lot of work for the Authority and has
been professional in the way he handle things which is important to the Authority's success.
Dr. Burns has devoted a lot time and has been on top of everything the Authority has done.
The Authority will miss Dr. Burns and is sorry to see him go. On behalf of the Authority, he
wished Dr. Burns congratulations on his retirement.
William Burns, City Manager said that he appreciated the successes they have all had
together.
ADJOURNMENT:
MOTION by Commissioner Gabel to Adjourn. Seconded by Commissioner Eggert.
UPON VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED
THE MOTION CARRIED AND THE MEETING ADJOURNED AT 8:11 P.M.
Respectfully Submitted,
Krista Monsrud
Recording Secretary
ACTION ITEM
HRA MEETING OF JANUARY 3, 2013
I
CITY OF
FRIDLEY
To: Darin R. Nelson, Finance Director
From: Paul Bolin, Asst. Executive Director
Rebecca Kiernan, Accounting Specialist
Date: December 27, 2012
Re: Resolution Designating Official Depositories
Attached is a resolution appointing Wells Fargo Bank Minnesota N.A. as the City's official
depository for 2013. This has been a traditional housekeeping task in the past. We like to
designate our banks on an annual basis.
The service we receive has been good; Wells Fargo Bank Minnesota N.A. has been responsive to
our requests for information and does provide extensive internet services of which the City of
Fridley and the Fridley Housing and Redevelopment Authority uses extensively.
In using Wells Fargo Bank Minnesota N.A., we are able to invest idle cash on a daily basis with
minimum costs to the City. We are able to determine daily needs and invest the balance in a
money market account with Wells Fargo and other institutions. If we were to change the
provider for the banking services, we would need to change the method in which we invest idle
funds and the ease in which we make deposits.
Staff recommends a motion adopting a resolution designating official depositories for the Fridley
Housing and Redevelopment Authority.
RESOLUTION NO.HRA 2013-01
RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES FOR THE HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY
I, Darin R. Nelson, do hereby certify that I am Finance Director-Treasurer of the Housing and
Redevelopment Authority in and for the City of Fridley, a corporation organized under the laws of
the State of Minnesota. I further certify that at a meeting of said corporation duly and properly
called and held on the 3rd of January, 2013, the following resolution was passed, that a quorum
was present at said meeting, and that said resolution is set forth in the minutes of the meeting and
has not been rescinded or modified.
IT IS HEREBY RESOLVED, that Wells Fargo Bank Minnesota N.A. is hereby designated as a
depository for the funds of this corporation.
IT IS FURTHER RESOLVED, that checks, drafts, or other withdrawal orders issued against the
funds of this corporation on deposit with said bank shall be signed by two of the following:
Darin R.Nelson,Finance Director-Treasurer
Shelly M. Peterson,Assistant Finance Director
And that said bank is hereby fully authorized to pay and charge to the account of this corporation
any checks,drafts,or other withdrawal orders. n
BE IT FURTHER RESOLVED, that Wells Fargo Bank Minnesota N.A as a designated
depository of the corporation is hereby requested, authorized,and directed to honor checks, drafts,
or other orders for the payment of money drawn in this corporation's name, including those drawn
to the individual order of any person or persons whose name or names appear thereon as signer or
signers thereof, when bearing or purporting to bear the facsimile signatures of two of the
following:
Darin R.Nelson, Finance Director-Treasurer
Shelly M. Peterson, Assistant Finance Director
And Wells Fargo Banks shall be entitled to honor and to charge this corporation for all such
checks, drafts, or other orders,regardless of by whom or by what means the facsimile signature or
signatures thereon may have been affixed thereto, if such facsimile signature or signatures
resemble the facsimile specimens duly certified to or filed with Norwest Banks by the City Clerk
or other officer of his corporation.
BE IT FURTHER RESOLVED, that any and all resolutions heretofore adopted by the Housing
and Redevelopment Authority of the corporation and certified to as governing the operation of
this corporation's account(s)with it,be and are hereby continued in full force and effect,except as
the same may be supplemented or modified by the foregoing part of this resolution.
BE IT FURTHER RESOLVED, that all transactions, if any relating to deposits, withdrawals, re-
HRA Resolution 2013-01 Page 2
discounts, and borrowings by or on behalf of this corporation with said bank prior to the adoption
of this resolution be,and the same hereby are, in all things ratified, approved, and confirmed.
BE IT FURTHER RESOLVED, that any bank or savings and loan may be used as depositories
for investment purposes as long as the investments comply with authorized investments as set
forth in Minnesota Statutes.
BE IT FURTHER RESOLVED, that the signatures of two of the following named City/HRA
employees are required for withdrawal of City investment funds from savings and loan
associations:
Darin R.Nelson,Finance Director-Treasurer
Shelly M. Peterson,Assistant Finance Director
BE IT FURTHER RESOLVED, that any brokerage firm may be used as a vendor for investment
purposes as long as the investments comply with the authorized investments as set forth in
Minnesota Statutes.
I further certify that the Board of this corporation has, and at the time of adoption of said
resolution had, full power and lawful authority to adopt the foregoing resolutions and to confer the
powers therein granted to the persons named who have full power and lawful authority to exercise
the same.
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 3RD DAY OF
JANUARY,2013.
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
DARIN R. NELSON, INTERIM EXECUTIVE DIRECTOR
IFJ ACTION ITEM
HRA MEETING OF JANUARY 3, 2013
CfiY OF
FRIDLEY
To: Darin R. Nelson,Finance Director
From: Paul Bolin, Asst. Executive Director
Rebecca Kiernan, Accounting Specialist
Date: December 27, 2012
Re: Resolution Designating Official Newspaper for the Year 2013
•
The Fridley City Charter Section 12.01 requires the designation of an official newspaper for the
Fridley Housing and Redevelopment Authority. It has been many years since an official
newspaper has been designated for the Authority, and it is good practice to make this an annual
agenda item.
Attached is a resolution designating the Fridley Sun Focus News as the official legal newspaper
of the Fridley Housing and Redevelopment Authority for the year 2013. The Minneapolis Star
Tribune is designated as the Fridley Housing and Redevelopment Authority's second official
newspaper for the year 2013.
RESOLUTION NO. HRA 2013-02
RESOLUTION DESIGNATING AN OFFICIAL NEWSPAPER
FOR THE YEAR 2013
WHEREAS, the Charter of the City of Fridley requires in Section 12.01 thereof that the Fridley
Housing and Redevelopment Authority, annually designate an official newspaper for the
Housing and Redevelopment Authority..
NOW, THEREFORE, BE IT RESOLVED that the Focus News is designated the official legal
newspaper for the City of Fridley for the year 2013 for all publications required to be published
therein.
BE IT FURTHER RESOLVED that the Minneapolis Star and Tribune be designated as the
Fridley Housing and Redevelopment Authority's second official newspaper for the year 2013.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
3RD DAY OF JANUARY 2013.
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST: '
DARN R. NELSON, INTERIM EXECUTIVE DIRECTOR
rW ACTION ITEM
HRA MEETING OF JANUARY 3, 2013
CRY OF
FRIDLEY
Date: December 28, 2012
To: Darin Nelson, Interim City Manager V`
From: Paul Bolin, Asst. Executive HRA Director
Subject: Resolution - Ratification of Funds Transfer
In 1986 the Authority approved the creation of TIF District #7 - Winfield. The District
assisted in the extraordinary costs incurred with the development of the Rice creek
Business Center (7151-7251 University Avenue). Though the District will be decertified
on December 31, 2012, the property value created by the development has generated
approximately $262,910 in excess increment.
According to TIF related State Statutes, the excess increment may be transferred to
other TIF Districts within the City. As TIF District#18 - Gateway West has a negative
fund balance, the $262,910 in excess increment has been transferred to make up a
portion of the negative fund balance.
Though no formal action is required to make the transfer, for record keeping purposes,
Staff recommends approval of the attached resolution ratifying the transfer of funds
from expiring TIF District #7 - Winfield to TIF District #18 - Gateway West.
MONROE 8000 Norman Center Drive r 952.885.5999
MOXNESS Suite 1000 F 952 885 5969
BERG Minneapolis,MN 55437-1178 www.MMBLawFinn.ccm
James R.Casserly
jcasserly@mmblawfirm.com
Direct 952.885.1296
TO: City of Fridley Housing and Redevelopment Authority
Attn: Paul Bolin, Assistant Executive Director
FROM: James R. Casserly, Esq.
SUBJECT: Decertification of TIF District No. 7 (Winfield) and transfer of funds to TIF
District No. 18 (Gateway West)
DATE: December 28, 2012
Our File No. 9571 - 39
Attached is a resolution which does the following:
1. Acknowledges that TIF District No. 7 (Winfield) is to be decertified as of
12/31/12 because it has received the maximum number of years of tax
increment as allowed by the Tax Increment Act.
2. Acknowledges that TIF District No. 18 (Gateway West), also a
redevelopment tax increment financing district, has a substantial negative
balance which will ultimately require the infusion of funds from other TIF
Districts, as allowed by law, or from the general fund.
3. TIF District No. 7 has a fund balance and this balance may be
transferred and used for expenses that could have been paid from TIF
District No. 7. TIF District No. 18 has incurred such expenses.
4. Effective December 31, 2012 the remaining funds in TIF District No. 7
are transferred to TIF District No. 18.
By acknowledging the decertification effective December 31, 2012 for TIF District No. 7
and the transfer of its funds effective the same date, it may be possible to file a final
report with the Office of the State Auditor in 2013.
JRC/rl
Enclosure
MMB:4822-0624-7954,v. 1
• ■
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
HRA RESOLUTION NO. 2013-03
A RESOLUTION RATIFYING A TRANSFER OF FUNDS BETWEEN TIF
DISTRICT NO. 7 (WINFIELD) AND TIF DISTRICT NO. 18 (GATEWAY
WEST)
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota(the "Authority)
as follows:
WHEREAS, TIF District No. 7 is a redevelopment tax increment financing district
approved by the HRA and the City in 1986 and subsequently certified by the County; and
WHEREAS, TIF District No. 7 having received the maximum number of years of tax
increment shall be terminated as of December 31, 2012; and
WHEREAS, the TIF District No. 7 Fund("Fund#456")has a cash balance; and
WHEREAS, TIF District No. 18 (Gateway West) also a redevelopment tax increment
,..� financing district has a negative fund balance ("Fund #470") of$1,513,136 as of December 31,
2011;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota as follows:
(1) The transfer of the cash balance of approximately $262,910 (including any
future interest earnings or residual tax increment and less administrative fees or
other eligible district expenses) from Fund #456 to Fund#470 is hereby ratified
and is effective as of December 31, 2012.
Adopted by the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota
this day of , 20 .
LAWRENCE R. COMMERS - CHAIRPERSON
ATTEST:
PAUL BOLIN, INTERIM EXECUTIVE DIRECTOR
MMB:4822-8862-6450,v. 1
COMMUNITY DEVELOPMENT
DEPARTMENT
HOUSING AND REDEVELOPMENT AUTHORITY
Memorandum
DATE: December 28, 2012
TO: Darin R. Nelson, Finance Director
FROM Paul Bolin, Assistant Director of HRA tOit
Rebecca Kiernan,HRA Accountant
SUBJECT: Approval of Final 2013 Budget
Attached you will find the final 2013 budget for HRA approval and the updated account activity
through December 19, 2012. Staff has incorporated any questions or comments into the final
budget that you had at the December 6th meeting.
The budget is divided into three separate categories. The General Fund covers the bulk of the
■" • administrative and overhead costs of the HRA. The Housing Loan Program Fund covers the
housing related programs and services (CEE programs). The Capital Outlay Funds include all of
the tax increment (TIF) districts. Darin or I will be available to answer any additional questions
that you may have.
Staff recommends that the HRA approve the budget at the January 3rd, 2013 meeting.
,....,
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1131 ACTION ITEM
HRA MEETING OF JANUARY 3, 2013
CfTY OF
FRIDLEY
Date: December 28, 2012
To: Darin Nelson, Interim City Manager/ Finance Director
From: Paul Bolin, Asst. Executive HRA Director
Subject: Resolution - Sale Negotiations for 6071 University Avenue NE - GWNE
In July of 2012, Authority Staff received a purchase offer from the McNutt Companies
for the parcel located at 6071 University Avenue (former Sinclair Station). Dave McNutt
is proposing to develop between 2,000 and 4,500 square feet of retail on the property.
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What originally seemed to be a fairly straightforward land sale became much more as
discussions evolved into the potential of incorporating a pedestrian overpass/elevator
into the site. City Staff was, at the time, making a grant application to the Met Council
to fund the technical design work for the overpass. The timing of the grant awards
caused a delay in moving forward more quickly with the sale of the property. In mid-
December, City Staff was informed that its grant application was not successful.
Despite the delays and uncertainty with the overpass, Mr. McNutt's desire to purchase
the property for retail use has not wavered. Before the Authority would be committed to
a sale, Mr. McNutt will need to receive approval of his site plan from the HRA, the
Planning Commission and the City Council, as he is within the Transit Oriented
Development Zoning overlay and the S-2 Redevelopment Zoning District.
Over the past year, we have heard from the private market that there is no one single
purchaser or use for the entire site. All interested parties have indicated that they see a
mix of retail and residential uses on the site. Mr. McNutt's proposed building has been
seen as an amenity and/or complementary to the other potential developments being
discussed.
There may be some concern that the mix of uses and developers may lead to a less
cohesive looking development. The safeguard against this potential problem is the fact
that all site plans and building elevations will be reviewed and approved by the
Authority, Planning Commission and City Council as the properties are all within the
TOD Zoning Overlay and the S-2 Redevelopment Zoning District. Additionally, Mr.
McNutt shares an architect with the other party that is exploring redevelopment of the
Citgo site and a portion of the GWNE property south of McNutt's proposed project.
To encourage the highest value and maximum density on the site, staff and legal
counsel developed a tiered pricing chart (attached to the resolution). The price for the
land decreases as the amount of new construction increases. If McNutt were to build a
2,000 sq. ft. building, he would pay $7.25 / sq. ft. (app. $113,100) for the land. If
McNutt were to build 4,500 sq. ft., he would pay $3.50 / sq. ft. (app. $54,635) for the
land. The tiered pricing allows the Authority to get the most return on their investment
through the land sale and the revenue generated by the new development.
Staff recommends approval of the attached resolution. The attached resolution will
provide Mr. McNutt the ability to market the site and work on his financing package as
he takes his project through the City's land use process and further develops the site
plans and building elevations needed for the Authority to approve a sale.
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
HRA RESOLUTION NO. 2013-04
A RESOLUTION AUTHORIZING AN EXCLUSIVE NEGOTIATION
PERIOD BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF FRIDLEY MINNESOTA AND
MCNUTT COMPANIES, INC. FOR THE SINCLAIR SITE
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota(the "Authority)
as follows:
WHEREAS, the Sinclair Site is located in the southeast corner of 61st and University
Avenue Northeast and is identified as PIN 23-30-24-21-0135 (the "Site"); and
WHEREAS, the Site is part of a recently approved Tax Increment Financing District No.
21, known as Gateway Northeast; and
WHEREAS, the Authority is the owner of the Site; and
WHEREAS, McNutt has been working with Authority staff over the last several months
in an effort to secure appropriate development for the Site; and
WHEREAS, the Authority and McNutt have agreed on a purchase price for the Site
which is attached as Schedule A; and
WHEREAS, McNutt wishes to have additional time to review development options,
secure tenants and arrange financing; and
WHEREAS, the Authority has approval over the use, type and timing of development to
occur on the Site;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota as follows:
(1) The Authority and McNutt shall have until April 30, 2013 to negotiate the
terms a Contract for Private Redevelopment which will provide more fully the
terms upon which the Authority will convey the property and the timing, type and
probable market valuation of the improvements.
Page 2 of 3
(2) The Authority agrees that until April 30, 2013, it will not negotiate or enter
into an agreement with any third party for the redevelopment of the Site (the Site
is part of the Listing Agreement that the Authority has with Premier Commercial
Properties, Inc. and the Authority is responsible for any commissions in
accordance with that Listing Agreement).
(3) During the interim period, McNutt shall market the property and may place
signage on the Site in accordance with City codes.
(4) McNutt may perform environmental tests and soil tests and will hold the City
and Authority harmless as a result of any damage from inspections or testing.
Adopted by the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota
this 3rd day of January, 2013.
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
PAUL BOLIN, INTERIM EXECUTIVE DIRECTOR
Page 3 of 3
SCHEDULE A
Purchase Price
The purchase price shall be determined by multiplying the square footage of the site
(approximately 15,610 square feet subject to the survey) by an amount determined as follows:
Square footage of new construction Multiply by square foot of site
2000 to 2499 7.25
2500 to 2999 6.50
3000 to 3499 5.75
3500 to 3999 5.00
4000 to 4499 4.25
4500 or more 3.50
MMB:4827-1224-8850,v. I
/-**\
McNutt Companies
18643 Irvine Trail
Lakeville, MN 55044
July 24, 2012
Mr. Paul Bolin,Assistant Executive Director of the HRA
Housing Redevelopment Authority
6431 University Ave NE
Fridley, MN 55432
RE: QUALIFICATIONS AND INTEREST IN FRIDLEY DEVELOPMENT
Dear Paul:
I am pleased to share the following information with you regarding some of my past
and current real estate projects. I have spent the past 13 years actively involved in
commercial real estate and 5 years of residential development.
I have prepared the following summary for you regarding my past experiences.
Commercial Formed McNutt Companies
Development Commercial R/E Investment Company that owns,manages &
1999 - Current develops various retail commercial properties.
Residential Acquired Housing Development in 2008
Development Re-platted development,sold lots,building Homes.
Acquired, rehabbed and sold 40+homes throughout Twin
Cities.
Development Experience Includes: Subway Building (St. Paul)
Perkins (Duluth, London Rd)
Blackwoods (Duluth, London Rd)
Land Development- Lakeville Parcel
Land Development-42 Lot Development
Sunset's- Duluth
Village at Founders Circle
Portfolio Investments: KFC- Eden Prairie
Fuddruckers- Roseville
Subway-St. Paul
Canal Park Multi-tenant
Apartment Complex- Rochester
Blackwoods- Duluth
Perkins- Duluth
Sunset's
Capital Markets Experience: Raised Debt&Equity Capital &Financing
for projects up to $50 Million.
Negotiated NNN Leases.
Prepared and Circulated Offerings, Raised
Investment Capital
Professional Qualifications: Licensed R.E.Agent in MN &WI (2012)
Bachelors Degree from Notre Dame
Former Real Estate Advisory Board - ICO
Experienced Commercial R/E Background
Experienced Residential R/E Background
13 Years of Real Estate Experience
Experience with small and large
developments.
Other: Economic Development Director
Economic Development Treasure Island Resort&Casino
Director Developments included: Design and
2004-2008 Constructed Convenience Store-
$2Million
Lead Team for designing and constructing
$50 Million Casino,Hotel and Bowling
Expansion
I've also included a sample proposed site plan for this location as well as a couple
copies of proposed renderings for what the building may look like.
We are very excited about the opportunity to work with you on this project.
Sincerely,
i
David McNutt
McNutt Companies
612-581-6437
111 ACTION ITEM
HRA MEETING OF JANUARY 3, 2013
CITY OF
FRIDLEY
Date: December 28, 2012
To: Darin Nelson, Interim City Manager/ Finance Director
From: Paul Bolin, Asst. Executive HRA Director
Subject: Resolution - Addendum to Phase V - HRP
On November 5, 2012, the City Council approved a lot split of land, owned by the
Authority, located on the 5800 block of 2 1/2 Street. The split is intended to provide the
Authority with 2 buildable lots, 60' in width.
The City filed the lot split at Anoka County and recently heard back from the Recorder's
Office. Of the three underlying parcels involved in the lot split, lots 22 and 23 are in the
HRP Scattered Site TIF District while lot 24 is not. In order to make determination of
increment simpler, the County has requested that we place underlying lot 24 in the
,--. Scattered Site TIF District.
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Staff is working with legal consul to include lot 24 in the Housing Replacement Program
and will provide the appropriate resolution prior to next week's meeting. The resolution
will ultimately allow the County to record the lot split.
n
Fridley HRA
Housing Program Summary
Cover Page
January 3, 2013 HRA Meeting
Report Description
Loan Application Summary Loan application activity (e.g. mailed
out, in process, closed loans) for past
month and year-to-date.
Loan Origination Report Monthly loan originations and year-to-
date.
Remodeling Advisor Shows the number of field appointments
scheduled and completed for the
Remodeling Advisor Services
administered by Center for Energy and
Environment.
n
H:\Paul's Documents\HRA\HRA Agenda Items\2013\January 3,2013\Housing Program Cover January 13.docx
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Fridley HRA
12/15/2012
Loan Originations
Programs This Month Previous Month Since 1/1/2012
HRA Loans(incl.CFUF Discount loans) $ - $ 28,391.00 $ 157,957.00
Leveraged Loans $ 6,140.28 $ 4,480.00 $ 21,648.41
Total $ 6,140.28 $ 32,871.00 $ 179,605.41
Funding Sources This Month Previous Month Since 1/1/2012
Fridley HRA inc Revolving&FRIDLAST $ - $ 28,391.00 $ 157,957.00
MHFA FUF/CFUF $ - $ $
Fridley Discount portion for CFUF $ - $ - $
Met Council $ - $ $ -
CDBG/HOME $ - $ $
CEE Energy $ - $ - $ 5,400.00
Other $ 6,140.28 $ 4,480.00 $ 16,248.41
Total $ 6,140.28 $ 32,871.00 $ 179,605.41
Types of Units Improved*
*most HH do more than one improvement so the total#will be equal or greater to the number of loans originated
This Month Previous Month Since 1/1/2012
"1 Single Family
Duplex - 3 10
Tri-Plex -
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10 to 20 Units
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Total 1
3 13 I
Types of Improvements
Interior #of Projects %of Total
Bathroom remodel - 0%
Kitchen remodel 1 5%
General plumbing 1 5%
Heating system 2 10%
Electrical system 3 10%
Basement finish - 0%
Insulation - 0%
Room addition 1 5%
Misc.interior projects 1 5%
Foundation - 0%
Exterior
Siding/Fascia/Soffit 2 10%
Roofing 2 10%
Windows/Doors 6 29%
Garage - 0%
Driveway/sidewalk 1 5%
Landscaping - 0%
/"..\ Misc.exterior projects 1 5%
Total 21 95%
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FRIDLF,Y HOUSING & REDF,VF,LOPMF, T AUTHORITY
January 3, 2013
A011-Agenda
Updai
1. BAE / RER Update
With the purchase agreement extended until the end of March, this project is once again moving forward
quickly. Last week Staff participated in a lengthy call with the Federal EPA . The EPA is excited about 1
Mr. Hydes redevelopment project. They have offered to assist in discussions with the Navy, regarding
the clean up, and have said they will do all they can to move the project forward.
City Staff worked with Mr. Hyde's consultants to start the AUAR (environmental review) process by
publishing the scoping document for public review and comment.
2. Gateway Northeast
As previously reported,Dave McNutt is not the only developer currently expressing an interest in the
GWNE area. Mr. McNutt's architect,Dean Dovolis, also works for the OneCorp Group out of Florida
who also have an interest in developing additional retail space towards the northern end of the block.
Below is a concept plan they put together for discussion purposes. OneCorp is interested in developing
the retail in conjunction with Mr. McNutt and would also like to see a housing component developed on
a portion of the site. OneCorp is currently scheduled to be in Minnesota on January 8th and I am trying
to coordinate a meeting between them,Dave McNutt and Trident Development.
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As mentioned last month, Staff had a lengthy teleconference with the Trident group on Thursday 11/29.
They are extremely interested in developing approximately 100 higher end market rate rental units on the
site. Their concept is to construct 50 units of market rate rental 3-4 stories in height,with stone and
other urban looking high end finishes, aimed at young professionals. They would also build 50 units of
high end market rate rental aimed at younger 55+ seniors. The two buildings would be connected by a
clubhouse and would have underground parking. They liked the idea of new retail being constructed
north of them.
Since last month,Trident has continued discussions on completing a survey of the land area, potential
purchase price, and potential for tax increment. Trident believes that it may be more advantageous for
the financing to purchase the property and then be issued a TIF note, rather than receiving a big break
on the land price. They are currently filling out our TIF application so that we can be reimbursed for
exploring the idea.
Staff is working to bring these different players together for a meeting on, or around,January 8th. I will
provide a thorough report in February.
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Our relocation consultant, Dan Wilson,reports that Dr. Lemay (Fridley Animal Hospital) is being very
open and cooperative. Dr. Lemay has found two existing buildings that he has an interest in pursuing.
Dan and Dr. Lemay are set to get together within the next week to go through the buildings and
determine eligible relocation costs.
3. Gateway West
Habitat for Humanity has inquired about the potential of purchasing, for $1.00, one of the Authority's
Gateway West lots for construction of a single family home. I have asked them to take a look at the
existing homes and provide pictures of similar homes Habitat has built. Discussions have been very, very
preliminary and I do not foresee this becoming an agenda item until March or April.
i'he Non-Agenda Update is simply a means for Staff to provide the Authority information on items that
are not regular agenda items. Topics covered include proposed projects still in the idea stage, updates on
existing projects, construction updates and other items that may be of interest to the Authority, but not
requiring public discussion or action. If there are any items you would like covered in upcoming issues of
the Non-Agenda Update please send me an e-mail. bolinp @ci.fridley.mn.us
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