HomeMy WebLinkAbout2020-09-14 EDA Meeting MinutesA.
MEETING MINUTES
MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY
6:15 P.M. Monday, September 14, 2020
Held Remotely Via Conference Call
CALL TO ORDER
A meeting of the Maplewood Economic Development Authority (EDA), was held remotely
via conference call and was called to order at 6:15 p.m. by President Knutson.
B. ROLL CALL
C
E.
William Knutson, President
Present
Bryan Smith, Vice President
Present
Marylee Abrams, Commissioner
Present
Kathleen Juenemann, Commissioner
Present
Sylvia Neblett, Treasurer
Present
APPROVAL OF AGENDA
Executive Director Coleman requested the commission table agenda items Ela Public
Hearing and E1 b Contract for Private Redevelopment with Susco 4 Mapleridge, LP; and
add an agenda item to call for Special Economic Development Authority Meeting on
September 28, 2020 for those items to be placed on that agenda.
Commissioner Abrams moved to approve the agenda as amended.
Seconded by Commissioner Smith Ayes — All, via roll call
The motion passed.
APPROVAL OF MINUTES
1. August 24, 2020 Economic Development Authority Special Meeting Minutes
Commissioner Juenemann moved to approve the August 24, 2020 Economic
Development Authority Special Meeting Minutes as submitted.
Seconded by Commissioner Abrams
The motion passed.
PUBLIC HEARING
Ayes — 4, via roll call
Abstrain — Commissioner Neblett
1. Tax Increment Financing and Business Subsidy Agreement for Maple Ridge
Center
a. Public Hearing
b. Contract for Private Redevelopment with Suso 4 Mapleridge, LP
c. Resolution Authorizing Interfund Loan for Advance of Certain Costs in
Connection with Tax Increment Financing District No. 1-14
September 14, 2020
Maplewood Economic Development Authority
Community Development Director Thomson gave the presentation.
Commissioner Abrams moved to table the public hearing.
Seconded by Commissioner Juenemann Ayes — All, via roll call
The motion passed.
Commissioner Juenemann moved to table the Contract for Private Redevelopment with
Suso 4 Mapleridge, LP.
Seconded by Commissioner Abrams Ayes — All, via roll call
The motion passed.
Commissioner Abrams moved to approve the Resolution Authorizing Interfund Loan for
Advance of Certain Costs in Connection with Tax Increment Financing District No. 1-14.
Resolution 20-09-0002
MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AUTHORIZING INTERFUND LOAN FOR
ADVANCE OF CERTAIN COSTS IN CONNECTION WITH
TAX INCREMENT FINANCING DISTRICT NO. 1-14
BE IT RESOLVED by the Board of Commissioners of the Maplewood Economic
Development Authority ("MEDA") as follows:
Section 1. Background.
1.01. MEDA has established Tax Increment Financing District No. 1-14 (the "TIF
District") in the general vicinity of 2501 White Bear Avenue, pursuant to Minnesota
Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act").
1.02. MEDA has incurred certain costs (the "Preliminary Costs") related to the TIF
District prior to such time as tax increment will be available to pay for such costs.
1.03. Pursuant to Section 469.178, subdivision 7 of the TIF Act, MEDA is
authorized to advance or loan money from its general fund or any other fund from which
such advances may be legally authorized in order to finance the Preliminary Costs.
1.04. MEDA will loan funds from its general fund (the "General Fund"), or any
other fund designated by MEDA, to finance the Preliminary Costs (the "Interfund Loan") in
accordance with the terms of this resolution.
Section 2. Interfund Loan Authorized.
2.01. MEDA hereby authorizes the advance of up to $50,000 from the General
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Maplewood Economic Development Authority
Fund or other funds or so much thereof as may be required to pay the Preliminary Costs.
MEDA shall reimburse itself for such advances together with interest at the rate stated
below. Interest accrues on the principal amount from the date of each advance. The
maximum rate of interest permitted to be charged is limited to the greater of the rates
specified under Minnesota Statutes, Section 270C.40 and Section 549.09 as of the date
the loan or advance is authorized, unless the written agreement states that the maximum
interest rate will fluctuate as the interest rates specified under Minnesota Statutes,
Section 270C.40 or Section 549.09 are from time to time adjusted. The interest rate shall
be 5.0 percent and will not fluctuate.
2.02. Principal and interest (the "Payments") on the Interfund Loan shall be paid
semiannually on each February 1 and August 1 (each a "Payment Date"), commencing
on the first Payment Date on which MEDA has Available Tax Increment (defined below),
or on any other dates determined by MEDA's Executive Director, through the date of last
receipt of tax increment from the TIF District.
2.03. Payments on the Interfund Loan are payable solely from Available Tax
Increment, which shall mean, on each Payment Date, tax increment available after other
obligations of the TIF District have been paid, or as determined by MEDA's Executive
Director, generated in the preceding six (6) months with respect to the property within the
TIF District and remitted to MEDA by Ramsey County, Minnesota, all principal. Payments
on the Interfund Loan may be subordinated to any outstanding or future bonds or notes
issued by MEDA and secured in whole or in part with tax increment from the TIF District.
2.04. The principal sum and all accrued interest payable under the Interfund Loan
are prepayable in whole or in part at any time by MEDA without premium or penalty. No
partial prepayment shall affect the amount or timing of any other regular payment
otherwise required to be made under the Interfund Loan.
2.05. The Interfund Loan is evidence of an internal borrowing by MEDA in
accordance with Section 469.178, subdivision 7 of the TIF Act, and is a limited obligation
payable solely from Available Tax Increment pledged to the payment hereof under this
resolution. This Interfund Loan and the interest hereon shall not be deemed to constitute
a general obligation of the State of Minnesota or any political subdivision thereof,
including, without limitation, MEDA or the city of Maplewood. Neither the State of
Minnesota nor any political subdivision thereof shall be obligated to pay the principal of or
interest on the Interfund Loan or other costs incident hereto except out of Available Tax
Increment, and neither the full faith and credit nor the taxing power of the State of
Minnesota or any political subdivision thereof is pledged to the payment of the principal of
or interest on the Interfund Loan or other costs incident hereto. MEDA shall have no
obligation to pay any principal amount of the Interfund Loan or accrued interest thereon,
which may remain unpaid after the final Payment Date.
2.06. MEDA may at any time make a determination to forgive the outstanding
principal amount and accrued interest on the Interfund Loan to the extent permissible
under law.
2.07. MEDA may from time to time amend the terms of this resolution to the extent
permitted by law, including without limitation amendment to the payment schedule and
the interest rate; provided, however, that the interest rate may not be increased above the
maximum specified in Section 469.178, subdivision 7 of the TIF Act.
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Maplewood Economic Development Authority
2.08. MEDA officials and consultants are hereby authorized and directed to
execute any documents or take any actions necessary or convenient to carry out the
intent of this resolution.
Section 3. Effective Date. This resolution is effective upon approval.
Adopted by the Board of Commissioners of Maplewood Economic Development
Authority, this 14th day of September, 2020.
Seconded by Commissioner Juenemann Ayes — All, via roll call
The motion passed.
Commissioner Juenemann moved to call for a Special Economic Development Authority
Meeting on September 28, 2020 at 6:30 p.m.
Seconded by Commissioner Neblett Ayes — All, via roll call
The motion passed.
F. UNFINISHED BUSINESS
None
G. NEW BUSINESS
1. Resolution Providing Approval of the 2021 Preliminary EDA Budget
Executive Director Coleman gave the report.
Commissioner Juenemann moved to approve the resolution providing approval of the
2021 Preliminary EDA Budget in the amount of $150,000, with a funding request of
$100,000 from the City Council.
Resolution 20-09-0003
MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION RECOMMENDING APPROVAL OF THE
2021 PRELIMINARY EDA BUDGET
WHEREAS, State law requires the City of Maplewood to certify its preliminary
property tax levy to the County Auditor by September 30th of each year; and
WHEREAS, the bylaws of the Maplewood Economic Development Authority
(EDA) require the EDA to submit an annual budget to the City Council for inclusion and
incorporation in the City's annual budget and tax levy.
NOW THEREFORE BE IT RESOLVED that the Maplewood Economic Area
Development Authority (EDA) approves the 2021 Preliminary EDA Budget, in the amount
of $150,000, and recommends a request to the Maplewood City Council for funding in the
amount of $100,000 for fiscal year 2021.
September 14, 2020 4
Maplewood Economic Development Authority
Seconded by Commissioner Abrams Ayes — All, via roll call
The motion passed.
2. Resolution Approving the Grant Agreement with YMCA
Finance Director Paulseth gave the staff report.
Commissioner Juenemann moved to approve the resolution approving the grant
agreement in the amount of $800,000 with the YMCA.
Resolution 20-09-0004
MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION APPROVING A GRANT AGREEMENT WITH
YMCA OF THE GREATER TWIN CITIES
WHEREAS, on August 10, 2020, the Maplewood City Council allocated $500,000
in CARES Act funding to the Maplewood Economic Development Authority (EDA) for the
purpose of providing reimbursement to nonprofit entities who have a contractual
relationship with the City of Maplewood to provide services relating to community
response to the Covid-19 public health emergency; and
WHEREAS, on August 10, 2020, the Maplewood City Council further allocated
$300,000 in CARES Act funding to the Maplewood EDA to provide business relief to
nonprofit entities who have a contractual relationship with the City during the pandemic
shutdown period ordered by the Governor of the State of Minnesota.
NOW, THEREFORE BE IT RESOLVED that the Maplewood Economic
Development Authority (EDA) approves the grant agreement with the YMCA of the
Greater Twin Cities (YMCA), dated September 14, 2020, which provides for a $500,000
allocation to the YMCA for reimbursement of expenses related to community response to
the Covid-19 public health emergency, and a $300,000 allocation for business relief
purposes with the provision that 30% of furloughed employees are rehired during the
period from August 3, 2020 through November 15, 2020.
Seconded by Commissioner Neblett Ayes — All, via roll call
The motion passed.
3. Resolution Allocating Residual CARES Act Funding to St. John's Hospital
Finance Director Paulseth gave the staff report.
Commissioner Juenemann moved to approve the resolution approving the distribution of
residual CARES Act funding in the amount of $86,000 to St. John's Hospital, Maplewood
MN.
Resolution 20-09-0005
MAPLEWOOD ECONOMIC DEVELOPMENT AUTHORITY
September 14, 2020 5
Maplewood Economic Development Authority
RESOLUTION APPROVING RESIDUAL CARES ACT FUNDING
TO ST. JOHN'S HOSPITAL
WHEREAS, on August 10, 2020, the Maplewood City Council allocated $86,000
in residual CARES Act funding to the Maplewood Economic Development Authority
(EDA) for the purpose of distributing the funding to St. John's Hospital, Maplewood MN,
for community response to the Covid-19 public health emergency.
NOW, THEREFORE BE IT RESOLVED that the Maplewood Economic
Development Authority (EDA) approves the distribution of residual CARES Act funding to
St. John's Hospital, Maplewood, MN, on or before the federal deadline of November 15,
2020.
Seconded by Commissioner Abrams Ayes — All, via roll call
The motion passed.
H. ADJOURMENT
President Knutson adjourned the meeting at 6:44 p.m.
Andrea Sindt, City Clerk
September 14, 2020 6
Maplewood Economic Development Authority