Title
Approving the September 12, 2018 HRA Board meeting minutes
Body
SWEARING IN OF COMMISSIONER MITRA JALALI NELSON
ROLL CALL
Present 6 - Commissioners Bostrom, Brendmoen, Jalali Nelson, Noecker, Prince and Chair Tolbert
Absent 1 - Commissioner Thao
CONSENT AGENDA
1. Approving the August 22, 2018 HRA Board meeting minutes
Adopted as set forth in MIN 18-29
Moved by Commissioner Brendmoen, Consent Agenda is Adopted
VOTE: Yeas - 6 Nays - 0
FOR DISCUSSION
2. Resolution authorizing the issuance and sale of conduit revenue bonds, under Minnesota Statutes, Sections 469.152 through 469.1655, for the Regions Hospital Project located at 640 Jackson Street, and approving related documents; District 17, Ward 2
Dr. Bruce Corrie, HRA Executive Director, stated that this request is to provide final approval for the issuance of up to $50 million in conduit revenue bonds for Regions Hospital to finance the construction of a new birth center on the southern edge of their campus along 12th street. The four-story building will be over 159,000 square feet and include 50 parking stalls with the capacity to expand to 11 stories. Construction is anticipated to start this fall and be completed in June of 2020. On August 22, the HRA held a public hearing and approved a resolution providing preliminary approval. CONDUIT REVENUE BONDS are not a debt of the HRA or the City and the repayment of the bonds will be limited to revenues of Regions Hospital.
Moved by Commissioner Noecker, Resolution Approved as set forth in RES 18-1537
VOTE: Yeas - 6 Nays - 0
PUBLIC HEARING
3. Resolution approving and authorizing the sale and conveyance of 754 Randolph, Saint Paul, MN to 754 Randolph, LLC.; and authorization to enter into a development agreement, District 9, Ward 2
Dr. Bruce Corrie, HRA Executive Director, stated that this public hearing is requesting approval for the HRA to enter into a development agreement with 754 Randolph, LLC to sell the Fire House #10 building located at 754 Randolph Avenue for the purpose of developing a new craft brewery and artisan restaurant. The HRA previously awarded tentative developer status for this project in December 2017, and after further planning and due-diligence, the developer is now prepared to move forward with their project. The development will put this vacant property back on the tax roll, and the building will be developed in conformance with the requirements of its Historic Designation. The brewery and restaurant will create up to 24 new jobs, and the developer has committed to work to hire hard-to-employ individuals. The developer, Travis Temke, is here today and able to answer additional questions. This is an exciting project and we recommend approval.
Commissioner Noecker thanked staff and Mr. Temke for all the hard work on this. She shared that some constituents have voiced concern over parking and traffic congestion and stated that she is confident that Mr. Temke will continue to work with community members and the neighborhood to resolve those concerns. She shared her appreciation for Mr. Temkes commitment to designating this historic building, his commitment to creating 24 new jobs and trying to employ hard-to-hire individuals, including those returning from incarceration.
Moved by Commissioner Noecker, Resolution Approved as set forth in RES PH 18-282
VOTE: Yeas - 6 Nays - 0
STAFF REPORT
4. Planning and Economic Development (PED) and Housing & Redevelopment Authority (HRA) 2019 Proposed Budget
Dr. Bruce Corrie presented the commissioners with the Planning and Economic Development (PED) and Housing & Redevelopment Authority (HRA) 2019 Proposed Budget.
Received and Filed as set forth in SR 18-114
ADJOURNMENT
HRA Board Meeting is Adjourned