HomeMy WebLinkAbout10/09/2014 MeetingECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
October 9, 2014
Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota
County, Minnesota, held October 9, 2014, at 7:00 p.m., at Apple Valley Municipal Center.
PRESENT: Commissioners Goodwin, Bergman, Grendahl, Hamann-Roland, Hooppaw, and
Maguire.
ABSENT: Commissioner Melander.
City staff members present were: Executive Director Tom Lawell, City Attorney Sharon Hills,
Finance Director Ron Hedberg, Public Works Director Blomstrom, City Planner Tom Lovelace,
Planner Kathy Bodmer, and Department Assistant Murphy.
Meeting was called to order at 7:54 p.m. by President Goodwin.
APPROVAL OF AGENDA
MOTION: of Hamann-Roland, seconded by Hooppaw, approving the agenda. Ayes - 6 - Nays
- 0.
APPROVAL OF MINUTES
MOTION: of Hamann-Roland, seconded by Bergman, approving the minutes of the special
meeting of September 25, 2014, as written. Ayes - 6 - Nays – 0.
CONSENT AGENDA
NONE
PARKSIDE VILLAGE
Planner Kathy Bodmer stated IMH Special Asset NT 175 — AVN, LLC, established a new entity,
IMH Gabella, LLC, to manage the financing and construction of the 196-unit Parkside Village
Gabella development at 6904 Gabella Street, north of Kelley Park. At their meetings of
September 25, 2014, the City Council and EDA each consented to the transfer of ownership of the
Gabella property and consented to the partial assignment of development agreements to the new
LLC.
The Parkside Village development is subject to an approved Business Subsidy Agreement which
requires the Apple Valley Economic Development Authority (EDA) and City Council review and
consent to any transfer of ownership, after the EDA conducts a public hearing. The resolution
would accomplish the following:
1. Consents to the transfer of ownership of the "Galante" property to IMH Gabella, LLC.
The Galante properties include Lot 1, Block 7; Lot 1, Block 8; and the vacated portion of
Fortino Street between Galaxie Ave and Galante Lane, where the 126-unit multiple family
development will be constructed.
Economic Development Authority
City of Apple Valley
Dakota County, Minnesota
October 9, 2014
Page 2
2. Assigns development agreements to the new LLC, requiring IMH Gabella, LLC to perform
all of obligations of the agreements previously executed by the City, EDA and owners as
they relate to the Galante property, including:
a. Amended and Restated Development Assistance Agreement, as amended by First
Amendment to Amended and Restated Development Assistance Agreement
b. Planned Development Agreement
c. Development Agreement
She reviewed previous City Council and Planning Commission Actions.
President Goodwin opened the public hearing at 7:59 p.m.
Peter Coyle, Larkin Hoffman, on behalf of IMH and the entity now known as IMH Gabella, LLC,
thanked the Commission, City Council, Attorney's Office, and City Staff for all the support they
received on this project.
President Goodwin closed the public hearing at 8:02 p.m.
MOTION: of Hooppaw, seconded by Hamann-Roland, adopting Resolution No. EDA-2014-
10, consenting to conveyance of Galante Property, consenting to partial assignment
of Development Agreements and authorizing execution of consent. Ayes - 6 -
Nays — 0.
6. Other.
NONE
7. Staff Updates.
ADJOURNMENT
MOTION: of Grendahl, seconded by Hooppaw, to adjourn. Ayes - 6 - Nays - 0.
The meeting was adjourned at 8:03 p.m.
Respectfully Submitted,
Approved by the Apple Valley Economic Development Authority on