Title
Approval of the August 24, 2011 HRA meeting minutes.
Body
ROLL CALL
Present: Commissioners Bostrom, Carter, Harris, Helgen, Lantry, Thune
Excused: Commissioner Stark
CONSENT
1. Approval of the August 10, 2011 meeting minutes.
Commissioner Bostrom moved approval.
VOTE: Yeas - 6 Nays - 0
2. Resolution Giving Final Approval to the Proposed Issuance of Revenue Bonds for Nova Classical Academy Project Under Minnesota Statutes, Sections 469.152 through 469.1651. District 9
Commissioner Bostrom moved approval. Approved as set forth in Resolution Number RES 11-1657
VOTE: Yeas - 6 Nays - 0
STAFF REPORT
3. The Proposed 2012 HRA Budget Presentation.
Ms. Cecile Bedor, Executive Director for the HRA, distributed and presented a power point on the proposed PED/HRA 2012 budget. (The power point is attached and is part of these minutes.) Ms. Bedor noted that there were no significant changes from 2011 to 2012, except that the HRA Loan Enterprise Fund (Fund 117) will increase because income and expenses from the Lofts will run through Fund 117.
Commissioner Helgen requested a written plan from PED with a time line on strategies DSI/PED will implement to help facilitate a smoother/clearer development process.
Commissioner Harris asked for explanation of the increase in tax increment revenue; and how the market value homestead credit is affecting it. Commissioner Harris also asked for information on how PED is marketing/using ED TIF Districts. Ms. Bedor responded that she would get that information.
Ms. Bedor gave an update on the Parking Program, noting that as a result of the 2010 refunding, the parking fund is now solvent, with reserves fully capitalized. Staff updates the capital improvement plan every 3-5 years to insure there is enough funding available for necessary repairs.
The department of Public Works has requested a $1.5 million loan from the HRA Parking Program to install new parking meters downtown. The agreed upon terms include a ...
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