2009-02-10MOUND HOUSING AND REDEVELOPMENT AUTHORITY
FEBRUARY 10, 2009
The Housing and Redevelopment Authority in and for the City of Mound, Minnesota met in
regular session on Tuesday, February 10, 2009, at 7:15 p.m. in the council chambers of city
hall.
Members present: Chair Mark Hanus; Commissioners David Osmek, Heidi Gesch, and Greg
Skinner
Members absent: Commissioner Ray Salazar
Others Present: City Attorney Jon Dean, Acting Executive Director Jim Kurtz, City Clerk Bonnie
Ritter, Community Development Director Sarah Smith, Ken Perbix
1. Open meetins~
Chair Hanus called the meeting to order at 7:15 p.m.
2. Approve as~enda
Hanus requested the addition of Item 2A, Swearing in of Commissioner Heidi Gesch.
MOTION by Osmek, seconded by Skinner to approve the agenda as amended. All voted in
favor. Motion carried.
2A. Swearing in of Commissioner Heidi Gesch
City Clerk Bonnie Ritter swore in Heidi Gesch as commissioner of the HRA.
3. Approve minutes
MOTION by Osmek, seconded by Gesch to approve the minutes of the January 27, 2009
meeting. All voted in favor. Motion carried.
4. Proposal to extend the five-year rule for the Mound Harbor Tax Increment Financing
District 1-3 through legislative efforts
John Dean explained that the current development agreement with MHRD calls for $35,000,000
in tax increment assistance by means of apay-as-you-go note, issuance of bonds, and
construction of certain public improvements to serve the project. Due to the severe economic
climate, this project may not be constructed until 2015 or later. Because the costs to be
reimbursed with apay-as-you go note will not have been obligated within the five-year deadline,
the agreement could not be implemented and the projects would be lost. Extension allows the
HRA to complete the original redevelopment goals for the TIF District, and leverage the
increment from this TIF District to help address the foreclosure crisis in an area adjacent to the
original TIF district. The plan is to ask Councilmembers to meet with legislators to request
sponsorship of this legislation.
MOTION by Osmek, seconded by Skinner to take the necessary action to expand the five-year
rule for the Mound Harbor Tax Increment Financing District 1-3 (the TIF District) from an ending
date of May 5, 2010 to May 5, 2015, through legislative efforts. All voted in favor. Motion
carried.
5. Adiourn
MOTION by Osmek, seconded by Skinner to adjourn at 7:20 p.m. All voted in favor. Motion
Carrie
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Chair Mark Hanus Attest: Bonnie Ritter, City Clerk