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1988 02 18HOUSING AND REDEVELOPMENT AUTHORITY MINUTES FEBRUARY 18, 1988 CALL TO ORDER: Chairman Whitehill called the meeting to order at 7:38 p.m. Members present: Commissioners Bohn, Swenson, Horn and Robbins. Also present were Don Ashworth, City Manager and Todd Gerhardt, Administrative Assistant. APPROVAL OF MINUTES: Motion by Horn, seconded by Bohn to approve the January 21, 1988, minutes as presented. All voted in favor and the motion carried. DOWNTOWN UPDATE (Presentation by BRW): Ashworth introduced Gary Ehret and Jim Lasher from BRW. Ashworth explained that staff asked BRW to attend tonight's meeting to update the HRA on several issues such as: Phase I Construction and Status of Phase II and III Highway 101 Issues: - Intersection With West 78th Street - Stop Signs at Frontier Trail - No Parking - Pedestrian Crossing Heritage Park Perspectives Mr. Ehret gave an overview of each of these items and their status. Mr. Lasher explained the status of Bernie Hanson and his site plan work for West 79th Street. Mr. Lasher and Mr. Fred Hoisington presented several concept ideas for the different types of businesses that could be located on the HRA property at the end of West 79th Street. Some of those included fast food restaurants, super stores, and convenience retail. Hoisington further explained that the HRA has two alter- natives to see some of these businesses located in Chanhassen and they are, 1) wait for individuals to come to the city, or 2) go out and find the types of businesses the HRA would like to see located on those sites. Mr. Lasher explained the concept signage for the downtown area. His proposal was to establish "district identification signs". The sign would be placed in several different locations throughout the downtown. Commissioner Horn recommended staff to get the Chamber of Commerce's feelings on this concept for signage. The last item to be discussed on the downtown Was the Heritage Park Perspectives and concept facia designs for the Pony, Pauly, and Pryzmus building. Staff recommended this item be tabled until the March meeting. Motion by Swenson, seconded by Horn to table discussion on the Heritage Park Perspectives and concept facia plans for the Pony, Pauly, and Pryzmus building. All voted in favor and the motion carried. HRA Minutes February 18, 1988 Page 2 SITE DEMOLITION OF HAVLIK BUILDING AND LABALO PROPERTY: Ashworth explained that staff prepared specifications for both the Havlik and Labalo buildings for demolition. The formal bidding proce- dures were not followed in hopes that each project would come in under the $15,000 mandatory limitation. The low bid was from Schafer Contracting for $32,300. Staff is in the process of pre- paring formal bids for the Labalo building. Ashworth further explained that City crews were interested in the demolition of the Havlik property. Staff is recommending that the HRA award the bid to the City of Chanhassen in the amount of $8,000.00. Motion by Horn, seconded by Swenson, to award the demolition of the Havlik building to the City of Chanhassen for $8,000, (Resolution No. 88-2). All voted in favor and the motion carried. CHADDA REQUEST FOR ADDITIONAL FINANCIAL ASSISTANCE FOR DOWNTOWN HOUSING PROJECT: Ashworth explained that at our January meeting this item was tabled in order that CHADDA come back with addi- tional information outlining their proposal. Ashworth further explained that each HRA member should have received a copy of financial team's analysis of the CHADDA proposal. John Dean from the LeFevere firm was present to discuss the ana- lysis. Mr. Dean explained each of CHADDA's proposals over the past two years. He stated that the team analysis of this project is that 30% of the project cost will be covered by subsidy and 97% of the estimated tax increment for 12 years will be utilized by this project. The total HRA assistance would be $982,000. He noted that the HRA assistance is nearly twice the level that equity partners will contribute and also receive back approximately $50,000 per year. Ashworth asked the HRA not to make a decision on this item tonight but have staff work with CHADDA and return in two weeks with a plan that would show six years worth of tax increment assistance. Motion by Whitehill, seconded by Horn, that staff work with CHADDA and enter into a contract that the HRA would allocate a fixed amount of $618,000 and that CHADDA provide a breakdown of both land and building costs. Also, a special meeting should be scheduled for March 3, 1988, at 8:00 p.m. All voted in favor and the motion carried. APPROVAL OF BILLS: Motion by Swenson, seconded by Bohn to approve the bills as presented. All voted in favor and the motion carried. ADJOURNMENT: Motion by Bohn, seconded by Robbins, to adjourn the meeting at 11:16 p.m. All voted in favor and the motion carried.