03-13-2023 Economic Development Authority MinutesCHANHASSEN CITY COUNCIL
ECONOMIC DEVELOPMENT AUTHORITY MEETING
MINUTES
MARCH 13, 2023
Mayor Ryan called the meeting to order at 7:00 p.m.
COUNCIL MEMBERS PRESENT: Mayor Ryan, Councilwoman Schubert, Councilman von Oven,
Councilman McDonald, Councilman Kimber.
COUNCIL MEMBERS ABSENT: None.
STAFF PRESENT: Laurie Hokkanen, City Manager; Andrea McDowell Poehler, City Attorney.
PUBLIC PRESENT: None.
1. Approve Economic Development Authority Meeting Minutes dated November 28, 2022
Councilwoman Schubert moved, Councilman McDonald seconded to approve the Economic
Development Authority Meeting Minutes dated November 28, 2022. All voted in favor and the motion
carried unanimously with a vote of 5 to 0.
2. Resolution 2023-01: Authorize the Issuance of Pay-As-You-Go Tax Increment Financing (TIF)
Note 2023A for TIF District 12
City Manager Hokkanen noted that this item is the authorization of a TIF note not to exceed $3,065,000. The
Chanhassen EDA established TIF District 12 in March 2021 to facilitate the construction of a 110-unit
mixed-income senior housing apartment building, which is now complete. The agreement had requirements
that the developer had to meet prior to issuance; the city attorney and financial consultant have reviewed and
found that the developer has met those requirements.
Councilman von Oven moved, Councilman Kimber seconded that the Chanhassen Economic
Development Authority adopt a Resolution Authorizing the Issuance of and Providing the Form,
Terms, Covenants, and Directions for the Issuance of its Taxable Tax Increment Revenue Note, Series
2023A in an Aggregate Principal Amount not to exceed $3,065,000. All voted in favor and the motion
carried unanimously with a vote of 5 to 0.
ADJOURNMENT
Councilman McDonald moved, Councilman von Oven seconded to adjourn the meeting. All voted in
favor and the motion carried unanimously with a vote of 5 to 0. The Economic Development Authority
meeting was adjourned at 7:03 p.m.
Submitted by Laurie Hokkanen
City Manager
Prepared by Kim Meuwissen
City Clerk