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HRA 08/01/2013 Iky August 1, 2013 HRA Meeting Regular Meeting Agenda 7:00 p.m. Call to order Roll call. Action Items 1. Approval of expenditures 2. Approval of June 6, 2013 Meeting Minutes 3. Approval of Resolution Authorizing Sale of 5755 3rd Street 4. Approval of Motion Authorizing Staff to Develop Documents Necessary to Consider TIF Assistance for 5601 East River Road Informational Items 1. Development Agreement - Hyde Development 2. Housing Loan Program Update Adjournment H:\--Paul's Documents\HRA\HRA Agenda Items\20I3\August 1,2013\August-2013 Agenda Outline.docxH:\--Paul's Documents\HRA\HRA Agenda ltems\2013\August 1,2013\August-2013 Agenda Outline.docx June,2013 Fridley HRA Accounts Payable Checking Account Register Date Check# Vendor Invoice# Description Code Amount 5/27/2013 29517 Passau Landcare 5976 Miscellaneous Mowing Various 765.00 Mowed week of 5/23 Tax 100-0000-430-4340 52.59 817.59 5/31/2013 29519 Sevenich,Butler,Gerlach,&Brazil 30392 Administrative Services-Greg Johnson 100-0000-430-4330 2,643.75 100-0000-430-4330,4606 1,687.50 4,331.25 6/10/2013 29515 Monroe Moxness Berg 139082 Administrative Services-Jim Casserly 100-0000-430-4330,4606 4,389.10 100-0000-430-4330 3,743.00 8,132.10 6/17/2013 29513 Coldwell Banker Burnet Earnest Money-561 Lafayette St NE 501-0000-430-4520 1,000.00 1,000.00 6/4/2013 29516 Liesch&Associates Asbestos/Haz Survey-4656 2nd Ave NE 501-0000-430-4330 863.35 863.35 6/11/2013 29517 Passau Landcare 5976 Miscellaneous Mowing Various 765.00 Mowed week of 6/7 Tax 100-0000-430-4340 52.59 817.59 5/26/2013 29518 Star Tribune Publish Notice of Public Hearing 501-0000-430-4334 734.50 734.50 6/6/2013 29514 Envirobate 0035669-IN Asbestos Removal-4656 2nd St NE 501-0000-430-4330 5,100.00 5,100.00 6/17/2013 29512 Center for Energy&Environment 11571 Revolving Loan-5621 6th St NE 265-0000-127-0000 5,925.00 Loan Origination Fees 265-0000-430-4340 550.00 Installation Verification-Larkin 265-0000-430-4340 70.00 6,545.00 6/28/2013 Paul Bolin Jan-June Cell Phone Charges(6 mo @$50/mo) 100-0000-430-4332 300.00 300.00 6/25/2013 Passau Landcare 6079 Miscellaneous Mowing Various 1,420.00 Mowed week of 6/20 Tax 100-0000-430-4340 97.63 1,517.63 Total June Invoices $ 30,159.01 July,2013 Fridley HRA Accounts Payable Checking Account Register Date Check# Vendor Invoice# Description Code Amount 7/8/2013 29520 Buberl Recycling&Compost,Inc 58653 Final payment on Demolition-Ironton St&Main St 501-0000-430-4520 3,600.00 7/10/2013 59300 Demo of 4656 2nd St NE 501-0000-430-4520 9,930.00 13,530.00 6/30/2013 HLT Tautges Redpath.Ltd. 150409602 2012 Audit 100-0000-430-4330 7,100.00 7,100.00 7/9/2013 Medtronic Pay as you go-Medtronic(July Settlement) 455-0000-430-4536 42,786.47 (Includes Past Settlement Admin/Land overpayment) 42,786.47 7/9/2013 Industrial Equities P1 Pay as you go-Industrial Equities(July Settlement) 472-0000-431-4510 46,270.35 46,270.35 7/10/2013 City of Fridley Q2 Billing for Administrative&Operating Expenses 100-0000-430-4107 51,425.00 • Quarter 2 100-0000-430-4221 100-0000-430-4332 22.19 100-0000-430-4336 855.24 100-0000-430-4340 747.26 100-0000-430-4346 100-0000-219-1001 5,014.77 100-0000-219-1004 323.05 100-0000-219-1100 375.00 100-0000-219-1200 162.00 100-0000-219-1700 2,442.93 100-0000-219-2300 98.28 100-0000-219-2400 900.76 100-0000-219-2500 1,213.44 63,579.92 7/10/2013 Ehlers 346467 Annual TIF Reporting 2012 100-0000-430-4330 2,350.00 2,350.00 7/9/2013 Sevenich,Butler,Gerlach,&Brazil 30735 Administrative Services-Greg Johnson 475-0000-430-4330 1,800.00 1,800.00 7/9/2013 Passau Landcare 6156 Miscellaneous Mowing Various 1,025.00 Mowed week of 7/2 Tax 100-0000-430-4340 70.47 1,095.47 July,2013 Fridley HRA Accounts Payable Checking Account Register Date Check# Vendor Invoice# Description Code Amount 7/15/2013 Monroe Moxness Berg 140057 Administrative Services-Jim Casserly 475-0000-430-4330 3,233.70 100-0000-430-4330 853.85 4,087.55 7/17/2013 Center for Energy&Environment 11621 Revolving Loan-7471 Van Buren 265-0000-127-0000 3,312.00 Remodeling Advisor Visit 265-0000-430-4340 130.00 Loan Origination Fee 265-0000-430-4340 550.00 3,992.00 7/23/2013 Service Link Purchase-5261 Lafayette St NE 501-0000-430-4520 29,337.41 29,337.41 Total July Invoices $ 215,929.17 f ACTION EM HRA MEETING OF AUGUST 1, 2013 ft cITY OF FRIDLEY Date: July 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Director From: Paul Bolin, Asst. Executive HRA Director Subject: Public Hearing - Sale of 5755 3rd Street NE - HRP/Gateway West Home Detail Builders has submitt ed a lot reservation agreement to build a new home on the lot located at 5755 3rd Street. The builder has custom designed the home for, and has an agreement with, a specific buyer. 0 �r , - _._ . 4 4,' -—7 - - r � s r,.(1,1 yy � � .v°,. " fin t� ! r F k yy ¢ i {S v°' g .° 1 �..:. T"�`` �g «nymyvvs¢ ,y�xxvs„.» The principals of Home Detail Builders are Jeff and Luke Magdik, the builders of the other homes previously constructed on this block. Home Detail plans to build a two- level home with approximately 2,112 finished square feet. The home will have 4 finished bedrooms and 4 finished bathrooms. The exterior of the home will utilize a blend of maintenance free materials and will incorporate shakes and stone on the front of the home. The roofline, windows and blend of materials will give the home individual character while still allowing the home to blend in with the existing homes found in the Gateway West project area. 's I � ¢ a �w �" ... . � 5 g Staff recommends approval of the attached resolution, authorizing the sale of the lot to Home Detail Builders for $30,000. D.T.411. 3.41. ,---0. 0'Ato 71.-0' e . 2e-tir t 0'4,* 140-11r ? ■ • 4* 4. I III! 1 . , .6...L...wh. 741.0211, - - 1011 ;g; I en t• \ N- ...* a i t N 11 It -., i ,,..■.• i.71ir - r i 4 11 X ti, kr Tit 14,4Y it 1 I 1 I Fi t t 4 A ,Ik lk ..Jr-Imps I 0 . I 2 1 . Tok I imi,401 •1111114 4 iriwilki --- ,. -- i --7-r-r q i II --, - Ilk ihrEir °I •k 3i I ea_ Sill ';') ; H : ' ,..:. P lo 14 * b. 1110,141.111111.111711■12M13■1111.11•011■1•111.11111.110 41■1111b 111■■■•■■•‘="111011■ , 1 4 • — 7 k r , _ 1 il 1 I I S'40. 14'-r 11 ft. !.. 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T i tot 3 i L >ck i Catewa x e HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF MINNESOTA HRA RESOLUTION NO. 2013- A RESOLUTION AUTHORIZING THE SALE OF RESIDENTIAL PROPERTY BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA 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: Section 1. Recitals. 1.01. It has been proposed that the Authority sell certain residential property(the"Property")described below: PIN: Street Address 23-30-24-23-0157 5755 3rd Street NE Section 2. Findings. 2.01. The Authority hereby finds that it has approved and adopted its Redevelopment Plan for its Redevelopment Project No. 1 (the"Redevelopment Program")pursuant to Minnesota Statutes, Section 469.001 et seq. 2.02. The Authority hereby finds that it has approved and adopted TIF District#18, Gateway West, pursuant to and in accordance with Laws of Minnesota 1995,Chapter 264,Article 5,Sections 44 through 47; Laws of Minnesota 1996, chapter 471, article 7, section 22; Laws of Minnesota 1997,chapter 231,article 10,section 13;Laws of Minnesota 2002,chapter 377,article 7,section 6; Laws of Minnesota 2008, chapter 154, article 9, section 19, and Laws of Minnesota 2010, Chapter 216, Section 42 (collectively"The Act"). 2.03. The Authority hereby finds that it has performed all actions required by Minnesota Statutes for the sale of the Property. 2.04. The Authority hereby finds that the sale of the Property promotes the objectives as outlined in its Redevelopment Program and the Plan. Section 3. Approval of the Sale. 3.01 The sale of the Property is hereby approved for a price of not less than$30,000. HRA Resolution 2013- Page 2 Section 4. Authorization for Execution and Delivery. 4.01. The Chairman, the Executive Director and Assistant Executive Director are hereby authorized to execute and deliver any documents necessary to effect the sale of the Property. PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 1st DAY OF AUGUST, 2013. LAWRENCE R. COMMERS - CHAIRMAN ATTEST: PAUL BOLIN- ASSISTANT EXECUTIVE DIRECTOR A W FRIDLEY HRA cm'OF ACTION ITEM FRIDLEY AUGUST 1 , 2013 Date: July 24, 2013 To: Mr. Wally Wysopal, City Manager/ Executive Director From: Paul Bolin, Asst. Executive HRA Director Subject: Potential TIF Assistance for Industrial Equities — 5601 East River Road The Project Mr. John Allen of Industrial Equities purchased the former JLT / Tiro/ Lamaur site at 5601 East River Road in late 2012. The property is in the Northstar Transit TIF District and it is anticipated that 57th Avenue may eventually be extended through the site. Mr. Allen is proposing a three phased development for the site. The first phase consists of a high finish flex office/warehouse/showroom building of 134,000 square feet. The second phase of the project includes two, five story office buildings totaling 300,000 square feet. The third phase includes approximately120 residential rental or assisted living units. _...,.r Nn4.!t[?AL. r 40 F a 1,f, & iF41, ■1 i Y �Y 4+8' P J Vie i' tnxwrs ^, r,4:41"-T'''w' t,; pro%� s' d ,_ Y.a,, ' °t .---,,,,e-'*. The development is being strategically phased to maximize value on the site. The purpose of the 134,000 square foot office/warehouse/showroom is to serve as a screening buffer to the railroad tracks and the back side of Home Depot. The screening provided by this high finish building will make the site more attractive to potential tenants of the proposed office building. The office/warehouse/showroom is expected to be valued at approximately$9M and the office complex valued at approximately $3.7M. Currently the property is valued at $6,793,400 and Mr. Allen has a tax petition filed to bring the property value closer to the $1.3M he paid for the site. Mr. Allen is asking the Authority for assistance in constructing the large (4-5 lane) entrance into the site from East River Road. Specifically, Mr. Allen is requesting that the Authority issue a TIF Revenue Note in the amount of $180,000 to recover a portion of the cost involved with constructing the new entrance. The new entrance is being designed and built to function properly when 57th Avenue is extended across the BNSF railroad tracks. (The TIF note would be PAYGO and increment payments would not start until June of 2018, as the Authority elected to defer increment collection for 4 years to maximize development in the NS TIF Transit District.) In addition to the cost of the additional paving and concrete work required by this 4-5 lane design, Mr. Allen is incurring additional costs in obtaining the land area from the neighboring property to make this design work. Mr. Allen is also willing to deed or provide an easement for the land needed to extend 57th Avenue if construction is possible. Mr. Allen wanted a date certain for making this determination, as he will utilize the land area if not needed for the an extension of 57th Avenue. The City Council agreed to five years at their July 22nd meeting. Mr. Allen and City Staff have reached an agreement on the extent of the roadways to be installed with the first phase of the development. In order to reduce some of the upfront expense, the roadway off of East River Road will extend only as far as necessary to serve Mr. Allen's development. Likewise, the "parkway" that runs North to South in front of the proposed office/showroom/warehouse building will terminate at approximately 1/2 of the length-originally planned for Phase 1. This not only reduces the front end costs, but also provides flexibility in the event that Phase 2 (the offices) end up in a different configuration than anticipated on the drawings. I have tried to label a number of the items discussed on the attached site plan. HRA Staff Recommendation: HRA Staff recommends that the Authority approve a motion, authorizing staff to develop the appropriate documents necessary to provide Mr. Allen with a PAYGO TIF Revenue Note, for an amount not to exceed $180,000 for the installation of the 4-5 lane access into the site. The documents will then be brought forward, for HRA approval of the assistance, in September with the following conditions: 1) Access design and finished construction to be approved by all appropriate entities having an interest and review authority. These entities include, but are not limited to the City of Fridley, Anoka County, MnDOT, and Metropolitan Council. 2) City of Fridley have an acceptable agreement for future conveyance of land or easements necessary to extend 57th Avenue over, under or across this property. 3)That Mr. Allen swap his land for adjacent parcel in order to allow construction of roadway. 4) That the road be public and available to adjacent property. BURLINGTON NORTHERN Area of HRA Assistance 0 To be Acquired by John Allen RAILROAD _ .._ ..•., r .... ..— j 57th Avenue Extension - --- - - ------- -, 1 I , Phase!1 Parkw ay Termination I , '-- - ' us viol* -,'. ,-, - _,-• 1 ■,6, V . 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',,lir'r4, ',14,,,,,,■',,,o t,,u1,,,„ ,l'ij,,'ir,j"t/H 00 l'i ';`*11,10 ,.,,,., ,,,,,trit.,..44i..7,111; ,_.„ ■ ,—...,"'''',,''<.--:-;Lfil,°:;,'''''''''',4;:"' it?/1/ '"---,s- '" l■ in.,,f4,,,''eci,,,,,,4,„11,i'P',,,,,Ak<, _ isN.4,4 t, ' q-*.:40 ',,,-, ,,P1, ,1, i',"i:-.3.-"C,,z ,"' - ■'..,,. ,',1„;;.- ,•6‘)? ''$, ' ' ;•-f''''',,"--12;;"-1;=""1",- ''',''',',',,,,,..,"?..',. t.,,, ak ' ''',.`e% -,,,1:14*"•;.4' `',IRF , --Ar kr$1,41,t1,94,,. c.. ,,..w,`,,,,., „I .--• rh,--,1:-.',-011,. t -, .... f‘--Ti;'t;-;"--,,i.',-;;-iP7''-:; 1.--"...1-y;2,,,.w; , -.1-,,... ,,,,,,,,,-.,.,,, - • „ '".......'1,-.. . 1‘'-i""--;;.„-i- . ;' ,,,;; , , , ';-14•Vit,1;-;;-,;; ",;',,t;;;;:ii,40,.t...,:::,..;:„:4„,„;,:,-.;„4„, '_:',.,14.:-till;,,,Iry , , • "Yo,to ■ okt ,_ - ,,,,,.. , ,,,.;-,,n ,,,,....,at Ay*,- yi - , _ - - , • - ......-■ .._.-.,-777.'-'-'"..- ,. i' . ''''',:' ,. -',■,....------- . .. IL INFORMATIONAL ITEM CITY OF HRA MEETING - AUGUST 1 , 2013 FRIDLEY Date: July 25, 2013 To: Wally Wysopal, City Manager/ Executive HRA Director From: Paul Bolin, Assistant Executive HRA Director Subject: Development Agreement for 4800 East River Road (Hyde Development) Hyde Development closed on the 122 acres located at 4800 East River Road on July 10th. Hyde Development has been working towards acquiring this property since August of 2011 and the Authority created TIF District #20 in the spring of 2012 to provide assistance with the clean up and future redevelopment of the BAE site. On June 6, 2013, the Authority adopted a Term Sheet for the redevelopment project. The Term Sheet outlined the redevelopment and public finance terms that were to be put in the Development Agreement between the Authority and Hyde Development. Since June 6th, the Developer, HRA Attorney and staff have worked to put together the attached Draft Development Agreement. The Development Agreement further formalizes the terms previously approved. The Agreement covers how upfront assistance ("grants") would be provided by the Authority and reimbursed by the Hazardous Substance Subdistrict (HSS), pay-as-you-go assistance from the Redevelopment District, the disbursement of third party grant and loan funds that will flow through the HRA and is designed to limit the Authority's exposure in the event that the developer fails to perform as promised. Mr. Hyde has a conflict on Thursday August 1st and is unable to attend the Authority's meeting. Additionally, Mr. Hyde would like to have more time to review the Agreement with his legal counsel. The developer has asked that the Authority consider approval of the agreement on September 5th, rather than August 1st. Staff will continue to work with Attorney Casserly, Mr. Hyde and his legal Counsel, on the agreement. We plan to get the agreement out to the Authority on or about August 20th to provide ample to for the Authority to review and have questions answered prior to the September 5th HRA Meeting. Fridley HRA Housing Program Summary Cover Page August 1 , 2013 HRA Meeting Report Description Loan Application Summary Loan application activity (e.g. mailed out, in process, closed loans) for July and year-to-date. Loan Closing Report Loan closings for July 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. H:\Paul's Documents\HRA\HRA Agenda Items\2013\August 1,2013\1-lousing Program CoverAugust 13.docx Fridley Loan Summary Report ce e Activity for Period 6/15/2013 - 7/15/2013 Center for Energy and Environment Application packets requested/mailed: This period: 0 Year-to-Date: 29 Residential Advisor Visits: This period: 1 Year-to-Date: 3 Loans currently in process for residents in your City: 2 Closed Loans This period: Year-to-Date: Fridley Units Units Closed End 0.00 0 57,733.62 4 Last Resort 3,312.00 1 9,635.00 2 Total 3,312.00 1 67,368.62 6 Leveraged Funds This period: Units Year-to-Date: Units 0 0 Total 0 0 Types of Improvements Financed YTD #of Projects %of Total Types of Properties Financed YTD # %of Total Single Family Residence 6 100.00 Air Conditioning 1 16.67 Heating System 1 16.67 Other Interior Improvements 2 33.33 Roof 1 16.67 Windows,Doors,Storm Windows,Stom 1 16.67