02/04/2021
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
February 04, 2021
7:00 PM
Fridley Civic Campus, 7071 University Avenue N.E.
(ZOOM)
MINUTES
CALL TO ORDER
PRESENT
Chair Holm
Commissioner Backlund
Commissioner Mulrooney
Commissioner Showalter
Paul Bolin, HRA Assistant Executive Director
Dan Tienter, Finance Director
Jim Casserly, Development Consultant
ABSENT
Commissioner Schwankl
ACTION ITEMS
1. Approval of Expenditures
Motion made by Backlund, Seconded by Mulrooney.
Voting Yea: Holm, Backlund, Mulrooney, Showalter
2. Approval of January 7, 2021 Meeting Minutes
Motion made by Showalter, Seconded by Backlund.
Voting Yea: Holm, Backlund, Mulrooney, Showalter
3. Resolution of Support – Special Legislation – Excess Northern Stacks Increment for Housing
Programs
Mr. Bolin stated that the buildout of Northern Stacks TIF District (No. 20) has occurred much quicker
than planned. The beneficial effects results in Tax Increment which exceeds the amount needed to
repay the development bonds. State law requires any excess increment to be redistributed to the
Housing and Redevelopment Authority Meeting of 2/4/2021 Minutes Page 2
various taxing authorities when the district comes to an end. Special legislation is required to do
anything different. It is estimated that between now and 2041 when the district decertifies, TIF
District No. 20 will generate approximately $1M per year in excess increment. Special Legislation
provides for this to be applicable only to the City’s TIF District No. 20, allows for revenues from
redevelopment tax increment district No. 20 to be available for any of the HRA revolving loan and
grant programs, increases the percentage from 25% to 50% of the tax increment that can be
available, removes the 5-year rule and other requirements for expenditures and the use of revenues
for the district and provides that the City/HRA elect to use the Special Rules, if approved, by
December 31, 2023. Staff recommends approval requesting MN Legislature to approve these special
rules.
Motion made by Showalter, Seconded by Backlund.
Voting Yea: Holm, Backlund, Mulrooney, Showalter
INFORMATIONAL ITEMS
4. Update on Housing Programs
In January two loans were closed making a total of two year to date and the Home Energy Squat had
three visits. There were no Remodeling Advisor Visits done in January.
ADJOURN
Motion made by Showalter, Seconded by Mulrooney.
Voting Yea: Holm, Backlund, Mulrooney, Showalter
Meeting adjourned at 7:10 p.m.
Respectfully Submitted,
Krista Peterson
Recording Secretary