EDA 2001 09 10CHANHASSEN ECONOMIC
DEVELOPMENT AUTHORITY
SPECIAL MEETING
SEPTEMBER 10, 2001
Chairman Boyle called the meeting to order at 5:00 p.m.
MEMBERS PRESENT: Linda Jansen, Gary Boyle, Robert Ayotte, Jim Bohn and Craig Peterson
MEMBERS ABSENT: Steve Labatt
STAFF PRESENT: Todd Gerhardt
DISCUSS THE CREATION OF TAX INCREMENT DISTRICT FOR PRESBYTERIAN
HOMES~ VILLAGES ON THE PONDS.
Vemelle Clayton discussed with the Economic Development Authority the proposal for the creation of a tax
increment district to assist in the development of the Presbyterian Homes in Villages on the Ponds. Mark
Ruff provided input regarding the financial impact in terms of the affordable units available.
Mayor Jansen's comment's were that this project certainly meets the requirements that the EDA established
a couple years ago to say that the city would use TIF financing to support affordable housing projects.
Given that this is a senior complex, as well as affordable, she saw it bringing in two components of the
city's housing goals and stated she would support this initiative. She stated that the request being just a 7
year time window on the TIF district was also very positive.
Chairman Boyle asked if staff was looking for a motion on this item. Todd Gerhardt stated that a motion
approving the attached resolution and setting a public hearing on this matter was appropriate.
Resolution #2001-03: Linda Jansen moved, Jim Bohn seconded that the Economic Development
Authority approve the attached resolution requesting that the City Council call for a public hearing
to consider establishing Tax Increment Financing District No. 8 (a housing district) for the
development of 36 affordable units within the 151 unit Presbyterian Homes Apartment complex
located in the Villages on the Ponds. All voted in favor and the motion carried unanimously with a
vote of 4 to 0.
Chairman Boyle adjourned the meeting at 5:15 p.m.
Submitted by Todd Gerhardt
City Manager
Prepared by Nann Opheim