Title
Approving the July 24, 2019 HRA Board meeting minutes
Body
ROLL CALL
Present 6 - Commissioners Brendmoen, Busuri, Jalali Nelson, Prince, Thao and Chair Tolbert
Absent 1 - Commissioner Noecker
FOR DISCUSSION
1. Resolution approving and authorizing a license to the North East Neighborhoods Development Corporation for temporary use of an HRA owned parcel located at 1560, 1570 and 1590 White Bear Avenue North, District 2, Ward 6
Kristin Guild, Acting Executive Director, stated that NENDC has requested a temporary license agreement from the HRA for the use of the Hafner’s site, an HRA-owned redevelopment property at 1560 White Bear Avenue North. NENDC plans to activate the site with up to 10 food trucks during the rest of the summer and fall of 2019. They have managed food truck uses of the property during the past several summers, also through a license agreement with the HRA.
An HRA Resolution from 1995 establishes guidelines for temporary use of HRA redevelopment parcels and specifies that any term of use exceeding a period of thirty (30) calendar days requires approval of the HRA Board of Commissioners. The license agreement will in no way restrict our ability to market the site for redevelopment which is our primary objective for this property and will include an indemnification clause and insurance requirements.
Staff recommends approval and Chuck Repke, NENDC, is here today to answer any questions.
Moved by Commissioner Jalali Nelson, Resolution Adopted and set forth in RES 19-1243
VOTE: Yeas - 6 Nays - 0
PUBLIC HEARING
2. Resolution giving preliminary approval to the proposed issuance of conduit revenue bonds for the Twin Cities German Immersion School Project, 1031 Como Avenue, under Minnesota Statutes, Sections 469.152 through 469.1655, District 10, Ward 5
Ms. Guild stated that the Twin Cities German Immersion School Building Company has submitted an application to the HRA to issue up to $9,000,000 in conduit revenue bonds to assist in financing the construction of a 3-story, 23,500 square foot addition for classrooms, special education instructional spaces, administrative offices, a gymnasium and cafeteria.
This is a public hearing and request for preliminary approval of the bond issuance. If preliminary approval is granted today, the HRA will be asked to consider a resolution for final approval to issue the 2019 Bonds on August 14, with a closing expected to occur in September. Construction would be completed by late summer of 2020.
Ms. Guild noted that when the HRA issues conduit revenue bonds, the bonds are purchased by private investors as a debt instrument to be repaid by the borrower. Revenue bonds are not HRA dollars, or City or taxpayer dollars, and revenue bonds do not constitute a debt obligation of the HRA or City of Saint Paul.
The HRA Executive Director recommends approval of this resolution providing preliminary HRA board approval to issue conduit revenue bonds to finance this project. Ted Anderson, the Executive Director of the Twin Cities German Immersion School, is here today to answer any questions about the project.
Commissioner Prince shared that she is not able to support this resolution for tax exempt financing which will lead to the demolition of a beloved historic resource in our City. Had the school pursued the offer of former architecture school dean, Tom Fischer, to seriously investigate potential alternatives; including adaptive re-use, her vote may be different. TCGIS has not considered the wound that it is inflicting on this neighborhood; when a wrecking ball arrives to begin its work.
Not related to this action, Commissioner Brendmoen asked PED to study the issue of charter schools in industrial zones. She noted that the Board has requested such a study several times over the past few years and it was not included in the recent Planning team workplan presented to the City Council.
Moved by Commissioner Brendmoen, Resolution Adopted and set forth in RES PH 19-240
VOTE: Yeas - 4 Nays - 2 (Commissioner Busuri and Prince)
ADJOURNMENT
Moved by Thao, the HRA Board Meeting is Adjourned
VOTE: Yeas - 6 Nays - 0