HomeMy WebLinkAbout11/01/2011 Meeting ECONOMIC DEVELOPMENT AUTHORITY � ��_ ?�.
City of Apple Valley
Dakota County, Minnesota
November l, 2011
Minutes of the special meeting of the Economic Development Authority of Apple Valley,
Dakota County, Minnesota, heldNovember 1, 2011, at 3:30 o'clock p.m., at the Apple Valley
Municipal Center.
PRESENT: President Severson; Commissioners Bergman, Goodwin, Hamann-Roland, and
Hooppaw.
ABSENT: Commissioner Grendahl.
Staff inembers present were: Executive Director Lawell, Secretary Gackstetter, City Attorney
Dougherty, Associate City Planner Bodmer, Associate City Planner Dykes, Finance Director
Hedberg, City Planner Lovelace, and Community Development Director Nordquist.
President Severson called the meeting to order at 4:05 p.m.
APPROVAL OF AGENDA
MOTION: of Hamann-Roland, seconded by Goodwin, approving the agenda for today's
meeting as presented. Ayes - 5, Nays - 0.
MINUTES
MOTION: of Hamann-Roland, seconded by Bergman, approving the minutes of the special
meeting of June 23, 2011, as written. Ayes - 4, Nays - 0, Abstain - 1(Goodwin).
AUGUSTANA HEALTH CARE FACILITIES REVENUE BONDS
Mr. Hedberg reviewed the request by Augustana Health Care Center of Apple Valley, Inc.,
formerly known as Augustana Home of St. Paul, for the Economic Development Authority
(EDA) to issue Health Care Facilities Revenue Bonds to assist in financing renovations of their
200-unit skilled nursing facility. The revenue bonds are not an obligation of the City of Apple
Valley, the issue does not count against the City's debt limit, and the City is not responsible for
their repayment. He noted the City Council held a public hearing on behalf of the EDA on the
issuance of the bonds at its regular meeting on September 22, 2011. There were no objections.
MOTION: of Bergman, seconded Hamann-Roland, adopting Resolution No. EDA-11-7
authorizing issuance of Health Care Facilities Revenue Bonds, Series 201 lA,
Series 2011B, and Series 2012, in an amount not to exceed $4,500,000.00, for
Augustana Health Care Center of Apple Valley, Inc., Project; and further
authorizing execution of the related documents. Ayes - 5, Nays - 0.
PROJECT UPDATES
Mr. Nordquist updated the Board on various projects.
ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
November 1, 2011
Page 2
Commissioner Hamann-Roland left the meeting at 4:18 p.m.
Commissioner Hamann-Roland returned at 4:19 p.m. �
The Board and staff discussed the projects. Staff indicated they will provide additional
information as it becomes available. The Board noted it may be necessary to set another meeting
later this month.
MOTION: of Hamann-Roland, seconded by Bergman, to adjourn. Ayes - 5, Nays - 0.
The meeting was adjourned at 4:33 o'clock p.m.
Respectfully Submitted,
Pari�� Gac.�,ot�'�
Pamela J. Gac stetter, Secretary
Approved by the Apple Valley Economic Development Authority on � Z' 21-1 �