HomeMy WebLinkAboutHEDRA Minutes - 2024.08.27 - Special Meeting and Closed DoorHEDRA
HASTINGS ECONOMIC DEVELOPMENT and
REDEVELOPMENT AUTHORITY
SPECIAL MEETING
The Hastings Economic Development and Redevelopment Authority of the City of
Hastings, Minnesota met in a special meeting on Tuesday, August 27, 2024 at 6:00
p.m. at Hastings City Hall.
HEDRA Commissioners Present: Johnson, Horsch, Fox and Pemble
HEDRA Commissioners Absent: Anderson, Carter, and Goblirsch
Staff Present: Community Development Director John Hinzman
Economic Development Coordinator Alex Menke
I. Quorum
A quorum was established, and the meeting was called to order by President Johnson
at 6:04 PM with four members present.
II. Closed Session pursuant to Minnesota Statutes Section 13D.05 subd. 3(c) to
discuss the potential purchase of property at 400 Vermillion Street
Commissioner Pemble motioned to enter a closed-door session, seconded by Commissioner
Horsch. Ayes 4; Nays 0. Motion approved. Commissioners entered closed door session at
6:04pm.
Commissioner Fox motioned to exit the closed-door session, seconded by Commissioner
Pemble. Ayes 4; Nays 0. Motion approved. Commissioner exited closed door session at
6:25pm.
III. Consider Potential Purchase of Property – 400 Vermillion Street.
Hinzman provided a summary of the purchase agreement for the former EDS\Wells Fargo
Building located at 400 Vermillion Street. Purchase price would be $700,000. With
acquisition of the property, HEDRA would control nearly 90% of Block 28 and would seek
a developer. Spiral Pizza would be the only remaining property not owned by HEDRA.
Commissioners discussed the terms of the agreement and lease of the Wells Fargo ATM.
Commissioner Horsch motioned to authorize signature of the purchase agreement with the
following amendments: Purchase price of $700,000, review of the Wells Fargo ATM lease
prior to commitment, and obtaining authorization from the city for use of City Debt
Redemption Funds. Motion seconded by Commissioner Pemble. Motion approved 4-0.
IV. Closed Session pursuant to Minnesota Statutes Section 13D.05 subd. 3(c) to
discuss the potential sale of property at the northeast corner of Spiral Blvd and
Enterprise Ave
Commissioner Fox motioned to enter a closed-door session, seconded by Commissioner
Pemble. Ayes 4; Nays 0. Motion approved. Commissioners entered closed door session at
6:34pm.
Commissioner Fox motioned to exit the closed-door session, seconded by Commissioner
Pemble. Ayes 4; Nays 0. Motion approved. Commissioner exited closed door session at
6:55pm.
V. Adjourn
Meeting was adjourned at 6:55pm
Next Meeting: Thursday, September 12, 2024 – 6:00pm – Regular Meeting
Respectively Submitted: John Hinzman