HomeMy WebLinkAboutHEDRA Minutes 02-13-2020HEDRA
HASTINGS ECONOMIC
DEVELOPMENT and
REDEVELOPMENT AUTHORITY
Hastings City Council Chambers
Minutes of February 13, 2020, 6:00 PM Regular Meeting
HEDRA Commissioners Present: Fox, Sinclair, Goblirsch, Balsanek, and
Vaughan.
HEDRA Commissioners Absent: Sullivan and Peine
Staff Present: Community Development Director John Hinzman
Economic Development Coordinator Rusty Fifield
I. Quorum
A quorum was established and the meeting was called to order by Acting President
Fox at 6:00 PM with five members present.
II. Minutes
Commissioner Sinclair motioned to approve the minutes from the regular meeting of
January 9, 2020, as presented, seconded by Commissioner Goblirsch. Motion approved 5‐
0.
III. Bills
Hinzman summarized the bills.
Commissioner Balsanek motioned to approve as presented, seconded by Commissioner
Vaughan. Motion approved 5‐0.
IV. Business
A. TIF District No. 8 - Real Estate Equities - Schoolhouse Square Senior
Apartments. Jessica Green of Northland Financial, HEDRA’s Financial
Consultant, provided a summary and analysis of the request.
Commissioner Balsanek asked for clarification for the use of TIF for building
expenses and lifespan of the building. Green provided information on eligible
expenses which are related to construction of the building. Hinzman stated
other comparable apartment buildings have a lifespan exceeding 40 years.
Commissioner Vaughan asked who collects TIF and makes payments of TIF
proceeds; can staff handle the additional work. Green responded that the
County will collect the proceeds and then City Staff would review and make
payments consistent with the Development Agreement for TIF.
Commissioner Goblirsch asked for clarification of calculation of TIF and
distribution. Green provided a summary of collection and payment.
Commissioner Vaughan motioned to approve HEDRA Resolution No. 2020-03
Approving Modification of Vermillion Street Redevelopment Area, the
establishment of TIF District No. 8, the adoption of the modified
Redevelopment Plan for the Project Area, and the adoption of the TIF Plan
relating to the TIF District, as presented, second by Commissioner Sinclair.
Motion approved 5-0.
Commissioner Sinclair motioned to approve HEDRA Resolution No. 2020-04
Approving an interfund loan for advance of certain costs in connection with TIF
District No. 8, as presented, second by Commissioner Goblirsch. Motion
approved 5-0.
B. Resolution: Approve Modification to RLF for Marathon Properties - 214
East 2nd Street. Fifield presented a summary of the request.
Motion by Commissioner Vaughan to approve HEDRA Resolution No. 2020-05
approving the modified RLF loan, as presented, second by Commissioner
Balsanek. Motion approved 5-0.
C. Presentation of 2019 Community Development Annual Report
Hinzman provided a summary of the report outlining 2019 activities.
Commissioners discussed housing growth.
V. Reports and Information
A. The Confluence
Hinzman provided an update of activities including installation of deck lighting,
environmental work within the building is nearly complete, and Confluence
intends to ramp up construction shortly.
B. Panache Cidery
Hinzman stated the amendment to extend the agreement is still unsigned by
Panache. Panache is required to provide certain financial information by the
end of February for staff consideration.
C. Housing and Economic Development Report
Fifield discussed various housing aspects within the City of Hastings.
D. Commercial Vacancy
Hinzman provided a summary of business vacancies and new uses.
E. Development Update
Hinzman stated the Schoolhouse Square Senior Apartments and Bauer
Annexation will be considered by City Council on February 18th.
VI. Adjourn
Commissioner Vaughan motioned to adjourn the meeting at 7:56 p.m., seconded by
Commissioner Goblirsch. Motion approved 5‐0.
Next Meeting: March 12, 2020
Respectively Submitted: John Hinzman