Community Development Committee Agenda

Standing Committee of the City Council, Minneapolis, Minnesota

Regular Meeting
     May 15, 2012
1:30 p.m. - Room 317 City Hall

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

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

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

Public Hearings 1:30 p.m.

Department of Community Planning & Economic Development (CPED)

 1.   Land Sale (3016 6th St N):
       Consider sale of property to Project for Pride in Living, Inc, for $3,100, subject to conditions:  a) land sale closing must occur on or before 90 days from the date of approval; b) payment of holding costs of $300.00 per month (or portion thereof) if the land sale closing does not occur on or before the closing deadline. The sale conditions may be waived or amended with approval of the CPED Director. 
        Staff Report:  3016 6th St N RCA; 3016 6th St N ATTACH1; 3016 6th St N ATTACH2
        Action Taken:  Approved.
     

 2.   Land Sale (4019 Girard Ave N):
       Consider sale of property to PRG, Inc for $25,000 plus reimbursement of CPED acquisition and holding costs not to exceed $12,474, subject to conditions:  a) land sale closing must occur on or before 90 days from the date of approval; b) payment of holding costs of $300.00 per month (or portion thereof) if the land sale closing does not occur on or before the closing deadline. The sale conditions may be waived or amended with approval of the CPED Director. 
        Staff Report:  4019 Girard Ave N RCA; 4019 Girard Ave N ATTACH1; 4019 Girard Ave N ATTACH2
        Action Taken:  Approved.

 3.   Land Sale (2100 26th St E pass-through sale):
       Consider sale of property & disposition of excess land from Metropolitan Council to Z & K Development Company, LLC for $67,000.
       Staff Report:  2100 26th St E RCA; 2100 26th St E ATTACH
        Action Taken:  Approved.
 

 4.   Spirit on Lake (re 13th Ave S & E Lake St):
        a)  Consider Resolution approving the Spirit on Lake Redevelopment Plan and Tax Increment Financing Plan to facilitate the development of a four-story, 46-unit affordable rental apartment project with 2,400 square feet of first-floor commercial space;
        
b)  Consider amendment to 2012 General Appropriation Resolution by establishing the Community Planning & Economic Development agency Fund 01CSL – Spirit on Lake (01CSL-8900900) with initial appropriation of $5,000;
        c)  Consider resolution authorizing the issuance of a Limited Revenue Pay-As-You-Go Tax Increment Financing Note to Spirit on Lake Limited Partnership in a principal amount not to exceed $522,800;
        d)  Approve the redevelopment contract business terms; 
        e)  Authorize redevelopment & other funding agreements with Spirit on Lake Limited Partnership & other necessary documents related to the above recommended actions (Also in W&M/Budget).
        Staff Report:  Spirit on Lake RCA; Spirit on Lake EX1; Spirit on Lake EX2; Spirit on Lake EX4; Spirit on Lake DFC MEMO
        Action Taken:  Approved.

 5.    Orchestra Hall Renovation:
        a) Conduct public hearing to establish an alternative non-job goal for the project under the Business Subsidy Act, and authorize execution of the Business Subsidy Agreement with the Minnesota Orchestral Association;
        b) Approve resolution establishing the governmental program to be achieved through renovation and operation of the Orchestra Hall facility;
        c) Accept $14,000,000 grant from the State of Minnesota to the City for the project;
        d) Authorize execution of 1) a grant agreement with the State of Minnesota; 2) a construction funding agreement with the Minnesota Orchestral Association; 3) a ground lease with the Minnesota Orchestral Association for a term of fifty years after project completion; 4) a use/lease agreement with the Minnesota Orchestral Association for a term of 20 years, with possible renewals to extend the term to the end of the ground lease; 5) a master disbursement agreement with the title company and other funders; 6) such other documents as necessary to implement the project;
        e) Amend the CPED appropriation & revenue budget by $14,000,000;
        f) Delegate authority to CPED to approve the annual budgets for the program upon finding that the Minnesota Orchestral Association is carrying out the governmental program and the projected program revenues equal or exceed program expenses;
       
g) Authorize the use of the northwest portion of the Minnesota Orchestral Association’s property for a multi-purpose lobby/event space and associated terrace, and, as consideration, the acceptance by the City of a portion of that parcel for addition to the Peavey Plaza parcel (Also in W&M/Budget).
        Staff Report:  Orchestra Hall RCA
        Action Taken:  Approved.


Consent Item

CPED

  6.  Mpls Housing Replacement Tax Increment Financing District III (HRD III):
       
Approve resolution adding 128 parcels to HRD III, 71 of which are to be counted against the 200 available “tornado” slots, and adding area to an existing HRD III parcel at 2518 14th Ave S. 
       Staff Report:  HRD III RCA
        Action Taken:  Approved.

 Discussion Item

 
CPED
 
 7.   Small Business Assistance Programs:
        a)  Approve 
reallocation of $75,000 from the Alternative Financing Loan Program & $75,000 from Homegrown Business Development Center to a new allocation of $150,000 for “Real Estate Acquisition Loan Program;”
        b)  Amend guidelines of the Capital Acquisition Loan Program and re-title the program the Real Estate Acquisition Loan Program (REP);
        c)  Authorize the Finance Office to appropriate all loan repayments to the new fund for the provision of additional REP loans;
        d)  Approve resolution delegating authority to the Director of CPED to make and execute Lender Agreements (Also in W&M/Budget).
        Staff Report:  Small Business Assistance Programs RCA
        Action Taken:  Approved.

Postponed Item

CPED

 8.   Pillsbury Lofts (301 Main Street):
       Consider resolution giving preliminary approval for the issuance of up to $75 million in Tax Exempt Multi-family Housing Entitlement revenue Bonds (Action Taken 5/1/2012:  Postponed 2 cycles, with direction to staff to bring forward Pillsbury Lofts TIF application & analysis).
       Staff Report:  Pillsbury Lofts RCA; Pillsbury Lofts ATTACH
   

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

Next Committee Meeting:   6/5/2012

Committee actions referred to the next City Council Meeting:  5/25/2012

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Last updated May. 15, 2012