HomeMy WebLinkAbout08/10/2017 MeetingECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
August 10, 2017
Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota
County, Minnesota, held August 10, 2017, at 5:00 p.m., at Apple Valley Municipal Center.
PRESENT: Commissioners Bergman, Goodwin, Grendahl, Hamann -Roland and Hooppaw
ABSENT: Commissioner Melander
City staff members present were: Executive Director Tom Lawell, City Attorney Michael
Dougherty, Community Development Director Bruce Nordquist, Finance Director Ron Hedberg,
Planner Kathy Bodmer, Planner/Economic Development Specialist Alex Sharpe and Department
Assistant Joan Murphy.
Meeting was called to order at 5:00 p.m. by President Goodwin.
APPROVAL OF AGENDA
MOTION: of Grendahl, seconded by Hamann -Roland, approving the agenda. Ayes - 5 - Nays - 0.
CONSENT AGENDA
MOTION: of Hamann -Roland, seconded by Grendahl, approving the minutes of the meeting of
July 27, 2017, as written. Ayes - 5 - Nays — 0.
VILLAGE POINTE PLAZA/ZVAGO APPLE VALLEY
President Goodwin opened the public hearing at 5:01 p.m.
Planner Kathy Bodmer stated that for consideration tonight is a Business Subsidy Agreement with
OneTwoOne Development, LLC and the Apple Valley Economic Development Authority
(AVEDA) that provides the conditions for the transfer of grant funds to offset the cost of
acquisition of the 3.65 -acre parcel located on the southwest corner of Galaxie Avenue and 153rd
Street West, commonly referred to as the "triangle property." The City acquired the triangle
property (Lot 1, Block 1 Village at Founders Circle) from Dakota County in January 2014 after the
site went through a tax forfeiture process for $1,148,639. The City of Apple Valley applied for and
was awarded a Livable Communities Demonstration Account grant for the Village Pointe Plaza
development of S1,148,639 to off -set the cost of the purchase of the property. The Village Pointe
Plaza is a mixed-use project that includes a 58 -unit senior cooperative building and 30,000 sq. ft. of
commercial uses. The funding is intended to help to create a denser mixed-use development form
than what would typically be developed under normal market conditions in Apple Valley.
The grant funds will be disbursed to the developer, OneTwoOne, through a business subsidy. The
purpose of the business subsidy is to provide financial assistance needed to ensure the development
of the triangle property occurs in accordance with the City's vision and to create jobs. The Subsidy
Economic Development Authority
City of Apple Valley
Dakota County, Minnesota
August 10, 2017
Page 2
Agreement provides the terms and conditions for the disbursement of the LCDA grant funds to
OneTwoOne.
President Goodwin closed the public hearing at 5:13 p.m.
MOTION: of Hamann -Roland, seconded by Bergman, approving Business Subsidy Agreement
with OneTwoOne. Ayes - 5 - Nays - 0.
ADJOURNMENT
MOTION: of Hamann -Roland, seconded by Hooppaw, to adjourn. Ayes - 5 - Nays - 0.
The meeting was adjourned at 5:18 p.m.
Respectfully Submitted,
Jo/Murphy, Department Assista
Approved by the Apple Valley con
Development Authority on / .25 e
le
Tom Goodwin, President