2016.09.06 EDA Meeting Packet=911190
* REGULAR MEETING 9
TUESDAY, SEPTEMBER 6, 2016
6:45 P.M.
CRYSTAL CITY HALL
COUNCIL CHAMBERS
3. Approval of minutes from the July 19, 2016 regular meeting
'i TIME! I
* Materials attached
Minutes of the
Regular
July 19, 2016
President Peak called the regular meeting of the Crystal Economic Development Authority to
order at 6:46 p.m.
Upon call of the roll, the following members were present: Jim Adams, Elizabeth Dahl, Julie
Deshler, Jeff Kolb, Laura Libby, Olga Parsons and Casey Peak.
The following staff members were present: Anne Norris, Executive Director; Dan Olson,
Planner; and Troy Gilchrist, City Attorney.
Motion by Commissioner Adams (Parsons) to approve the minutes of the June 21, 2016 special
meeting.
Motion carried.
The EDA held a public hearing to consider a resolution authorizing the sale of a lot at 4331 Vera
Cruz Avenue North to Timbercraft Enterprises for new house construction. Mr. Olson presented
the staff report and answered questions from the board. President Peak opened the public
hearing. No one appeared and the hearing was closed.
Motion by Commissioner Parsons (Kolb) to adopt a resolution authorizing the sale of 4331 Vera
Cruz Avenue North to Timbercraft Enterprises for new house construction.
Motion carried.
There was no other business.
Motion by Commissioner Deshler (Dahl) to adjourn the meeting.
The meeting adjourned at 6:54 p.m.
Casey Peak, President
ATTEST:
Olga Parsons, Vice President
Motion carried.
tKYSTAL
C11
EDA STAFF REPORT
Annual Resolution — 2017 HRA Levy
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As part of the annual budgeting process, the EDA formally requests almousing and
Redevelopment Authority tax levy which would comprise part of its funding. Th-
• 11 6200
To reduce pressure on the General Fund, in 2016 some staff costs were shifted to the
EDA budget. This reduces the amount of the annual levy available for EDA projects.
However, the EDA fund balance is estimated to be $3,298,670 at the end of 2016 so
there are funds available for project expenditures as they arise.
The baseline activities proposed for the EDA in 2017 would result in total expenditures
of $470,304 and include the following significant activities:
• Design and engineering for reconstruction of the Bass Lake Road -• •-
between West Broadway and Bottineau Boulevard. (Construction costs would be
paid with available increment from expiring TIF districts 2151 and 2154.)
• Home Improvement Incentive Rebates for households between 80% and 120% of
metro area median income. (Rebates for households below 80% are paid with
available increment from TIF District 2155.)
• Acquisition and demolition of two blighted houses for redevelopment.
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M, 13211MINFUMMITIM l�� ''Is 64
2017 Levy $ change % change Description
$246,200 0 0 Results in a $78,104 deficit (drawn from EDA
fund balance). Expenditures of $470,304
would include baseline activities described
above.
re �*A
$253,500 +$7,300 +2.97% Results in a $70,804 deficit (drawn from EDA
fund balance). Expenditures of $470,304
would include baseline activities described
above.
$277,000 +$30,800 +12.51% Results in $70,304 deficit (drawn from EDA
fund balance). Expenditures of $493,304
would include baseline activities described
above plus $23,000 for community image
enhancements and storefront improvement
incentives.
The statutory maximum levy for 2017 is $277,204.
EDA discussion of the desired preliminary levy amount and action on the attache*
resolution is requested. Please note that, whatever levy amount is set, it may be
reduced but cannot be increased when the final budget and tax levy are set in
December.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
HENNEPIN COUNTY
STATE OF MINNESOTA
01910001111 91 Z ItSH IA I -.9'Mizil .6 `i N;YM to I =0411wasteill 0 L441
WAEREAS, the Economic Development Authority of the City of Crystal (the "EDA") undertak
redevelopment and housing activities in the City of Crystal, Minnesota (the "City"); and
WHEREAS, pursuant to authority granted by Minnesota Statutes, Section 469.02 and t
enabling resolution of the EDA, the EDA exercises all of the powers of a housing a 9
redevelopment authority ("HRA") as described in Minnesota Statues, Section 469.001 I
0
469.047
WHEREAS, under Section 469.033 Subdivision 6 of the Act, an HRA is authorized to levy and
collect special benefit taxes on all taxable property under the jurisdiction of the HRA, that is,
property in the City; and
WHEREAS, the permitted levy is 0.0185 percent of the estimated market value of the propell
in the City.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of
Crystal as follows:
1 The EDA hereby adopts a 2017 proposed budget for housing and redevelopment in the
amount of $
2. The EDA hereby adopts a proposed property tax levy of $ for the purpose
of funding the adopted budget in conformance with Section 469.033, Subdivision 6 of
Minnesota Statutes.
3. The Executive Director is authorized and directed to transmit a certified copy of th
Resolution to the City Council of the City of Crystal for its consent and approval
provided by Section 469.033 of the Act and for certification to the Property Tax Manag
of Hennepin County. 11