Community Development Committee Agenda

Standing Committee of the City Council, Minneapolis, Minnesota

Regular Meeting

July 13, 2010

1:30 p.m. - Room 317 City Hall

NOTE: All cellular telephones, pagers and BlackBerry devices to be switched to a non-audible function during Council and Committee meetings.

Committee Members Present: Council Members Goodman,
Reich, Lilligren, Gordon, Samuels (quorum 4)
Committee Members Absent: Council Member Quincy (quorum 4)

Council Committee Coordinator: Irene Kasper (612) 673-2219

Public Hearing - 1:30 p.m.

1. Cedar Riverside Limited Partnership (re Riverside Plaza, 1525 4 th St S, 1600 6 th St S, 1511 4 th St S, 1601 4 th St S, 1615 4 th St S & 1530 6 th St S):

a) Consider resolution giving preliminary approval of up to $80,000,000 in tax-exempt multifamily housing entitlement revenue bonds for the Riverside Plaza stabilization and rehabilitation (1301-unit rental housing facility); b) Authorize execution of a reimbursement agreement settling the Citys indemnity and access obligations; c) Approve appropriation increase of $161,908; d) Authorize agreement closing out the contract for deed & conveying title to Riverside Plaza Limited Partnership ( Also in W&M/Budget Refer to MCDA Board of Commissioners for consideration of Items "b and d"

Action Taken: Approved.


2. 4th Quarter 2009 Financial Status Report:

Action Taken: Postponed.

Consent Items

3. HOME Program Income:

Approve appropriations of HOME Program Income in the amount of $1,487,532 ( Also in W&M/Budget

Action Taken: Approved.

4. Department of Labor North 4 Youth Employment Grant funds:

Approve appropriation to reflect grant funding in the amount of $238,000 ( Also in W&M/Budget

Action Taken: Approved.

5. MN Department of Employment & Economic Development (DEED) Redevelopment Grant Program:

Approve resolution authorizing staff to submit applications to DEED for the following projects: West Broadway Retail District (South) Infrastructure Redevelopment (Phase 1), Touchstone Public Infrastructure (Phase 1, Bystrom Brothers), Southeast Minneapolis Industrial Area [SEMI] Infrastructure (Granary Road, Phase 1), & 14 th Ave N Cul-de-sac ( Also in W&M/Budget

Action Taken: Approved.

Receive & File Item

6. Target Center:

Target Center 2010 Budget and Updated Target Center Finance Plan ( Also in W&M/Budget

Action Taken: Received & filed.

Notice: A portion of this meeting may be closed to the public pursuant to Minnesota Statutes Section 13D.03 or 13D.05.

Next Regular CD Meeting: 7/27/2010

Next City Council Meeting: 7/23/2010

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Last updated Oct 18, 2011