HomeMy WebLinkAboutHousing & Redevelopment Authority Minutes 10-21-2004MINUTES
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
October 21, 2004
PRESENT: Commissioners Susan Henderson, Steve Ludovissie, Jenny Flansburg, and Jim
Kovach
ABSENT: Commissioner Tim Bildsoe
STAFF PRESENT: Housing Program Manager Jim Barnes, Office Support Representative
Barb Peterson
OTHERS PRESENT: Tim Nelson, CEO of Hammer Residences
1. CALL TO ORDER
Chair Henderson called the Plymouth Housing and Redevelopment Authority meeting to order
October 21, 2004 at 7:10 p.m.
2. CONSENT AGENDA
A. Approval of the October 5, 2004 HRA Meeting Minutes.
B. Plymouth Towne Square - Accept monthly housing reports.
C. Update on letter to Congressman Ramstad.
MOTION by Commissioner Ludovissie, seconded by Commissioner Flansburg, approving the
Consent Agenda items.
Vote. 4 Ayes. Motion approved unanimously.
3. NEW BUSINESS
Housing Manager Barnes suggested that Item 3B be discussed before Item 3A. The Board
agreed.
B. Community Development Block Grant (CDBG) Funding — Hammer Residences
Application
Housing Manager Barnes introduced Tim Nelson, CEO of Hammer Residences. Mr. Nelson
gave the Board a brief summary of Hammer Residences and said they have 31 homes, 13 of
which are in Plymouth. Mr. Nelson said the City of Plymouth is very supportive of Hammer
Residences and they appreciate the help very much.
Housing Manager Barnes gave an overview of the staff report. He explained that Hammer
Residences has requested funds from the Affordable Housing Development Account to fund the
Plymouth Housing and Redevelopment Authority
October 21, 2004
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installation of a new fire sprinkler system at its 14th Avenue House, which is located in Plymouth
at 16205 14th Avenue North. This home was acquired by Hammer at the beginning of 2004 and
will serve four developmentally disabled low-income men. Housing Manager Barnes said that
currently there is $21,148.02 in uncommitted funds for the 2003 program year. Hammer is
requesting $20,503.00.
Housing Manager Barnes explained that by providing funding to Hammer it will help the
Hennepin County Consortium meet its 5 -year goal of providing housing for developmentally
disabled renters.
MOTION by Commissioner Kovach, seconded by Commissioner Flansburg, approving the
funding for the installation of a new fire sprinkler system at the 14th Avenue House as outlined in
HRA Resolution 2004-11.
Vote. 4 Ayes. Motion approved unanimously.
A. CSM Investor II, Inc. — Review Tax Increment Financing Plan and the Redevelopment
Plan for the Shops at Plymouth Creek.
Housing Manager Barnes said that at the HRA meeting on October 5, 2004, the HRA Board
directed staff to prepare Tax Increment Financing Plan and Redevelopment Plan for the Shops at
Plymouth Creek. He also stated that the City Council had set the public hearing for the creation
of the TIF district for November 23, 2004.
Housing Manager Barnes presented an overview of the Redevelopment Plan. He said the plan
provides the basis for the public purpose and need for redevelopment as well as defining the
objectives of the Housing and Redevelopment Authority. Housing Manager Barnes said that as
part of the Redevelopment Plan, the HRA had to establish a Project Area. After consultation
with the HRH's Bond Attorney, it was determined that the Project Area should encompass the
area of Plymouth that is within the Urban Service Area.
Housing Manager Barnes continued by providing an overview of the Tax Increment Financing
TIF) Plan. He said the TIF Plan establishes the boundaries of the TIF district and the
expenditures that are eligible for this particular project. He also stated that the HRA does not
have the authority to create a district, so the HRA Board is making a recommendation to the City
Council that they create the district.
Housing Manager Barnes explained that the figures in the rest of the report are similar to the
figures used at the October 5th meeting. The plan still remains a 16 -year district and includes a
contribution of 15% to the Tax Increment Housing Assistance Program (TIHAP), which is an
account to assist rental housing projects. He said there are a number of rental housing projects in
preliminary stages and we could use the TIHAP funds for projects if they move forward.
Housing Manager Barnes explained the estimated costs of the project. He explained to the Board
that the estimated public costs totaling $4,568,000 are far greater than the actual cost because
they include the bond principle and interest. He also stated that the Sources of Revenues account
for this "double accounting". Barnes stated the actual costs are closer to $2,000,000.
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October 21, 2004
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Commissioner Flansburg asked for additional clarification on the "double accounting". Housing
Manager Barnes explained how the calculations are determined.
Commissioner Ludovissie asked if we have the option to reallocate the allocation percentages in
the TIF Plan after adoption if the revenues to cover debt service are not sufficient. Housing
Manager Barnes said the TIF plan could be amended if needed.
MOTION by Commissioner Kovach, seconded by Commissioner Flansburg, adopting the HRA
Resolution for the Project Plan for Redevelopment Project Area Number 1 and the Tax
Increment Financing Plan for Tax Increment Financing (Redevelopment) District 1-1.
5. ADJOURNMENT
Meeting adjourned at 7:45 p.m.
HRA/Minutes/10/21/04