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HomeMy WebLinkAbout06/10/1998ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota June 10, 1998 Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota County, Minnesota; held June 10th, 1998, at 7:00 o’clock p.m., at Apple Valley City Hall. PRESENT: President Severson; Commissioners Edgeton, Erickson, Goodwin, and Sterling. ABSENT: Commissioners Grendahl and Humphrey. Staff members present were: Executive Director Gretz, Secretary Mueller, and Community Development Director Kelley. President Severson called the meeting to order at 7:00 p.m. APPROVAL OF AGENDA MOTION: of Erickson, seconded by Sterling, approving the agenda for tonight’s meeting as presented. Ayes - 5 - Nays - 0. MINUTES MOTION: of Sterling, seconde d by Goodwin, approving the minutes of the special meeting of May 28th, 1998, as written. Ayes - 5 - Nays - 0. SCHOOL DISTRICT 196 STADIUM PROPOSAL Mr. Kelley reviewed the background of School District 196’s request for stadium financing at Apple Valley and Eastview High Schools as described in his memo dated June 8, 1998. As the result of a petition, an Environmental Assessment Worksheet (EAW) was prepared on the stadium project at Apple Valley High School. Following the 30-day public response time on the EAW, the School District’s and EDA’s consultants reviewed comments received and prepared responses. The matter is now before the EDA to determine whether an Environmental Impact Statement (EIS) is necessary based upon the information generated by the EAW. Rob Bouta, of Westwood Professional Services, the EDA’s consultant, was present to review the response to comments and findings of fact documentation. The finding is that none of the issues raised support the need for an EIS to be prepared and that is the recommendation. Steve Mattson, of Juran & Moody, the EDA’s bond consultant, was present to comment on the financing. The bonds would be issued as tax exempt EDA revenue bonds, secured by a lease with the School District. The District has authority to levy taxes for payment of the bonds. Ten-year bonds are proposed. Risk of default to the EDA is minimal. It is a stand alone situation and could not become a general obligation of the City. Even if there were changes in levy ability by the State, the District believes it could make the necessary adjustments to pay the bonds. ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota June 10, 1998 Page 2 Resolution No. EDA-98-5 MOTION: of Erickson, seconded by Goodwin, adopting making a negative declaration on the need for an Environmental Impact Statement for the development known as “Apple Valley Senior High Stadium” based on the document titled “RESPONSE TO COMMENTS, FINDINGS OF FACT, AND RECORD OF DECISION FOR THE APPLE VALLEY SENIOR HIGH FOOTBALL STADIUM ENVIRONMENTAL ASSESSMENT WORKSHEET. Ayes - 5 - Nays - 0. MOTION: o f Goodwin, seconded by Erickson, authorizing proceeding with issuance of bonds to finance construction of Apple Valley and Eastview High School Stadiums by Independent School District No. 196 subject to preparation of the necessary bonding documents. Commissioner Edgeton asked why the financing is being handled through the EDA, rather than the School District, and is there an economic advantage to doing so? John Haro, Superintendent of IDS 196 was present, and said the District does not have the ability to fund construction of the stadiums in this manner. It is the same process as was used for the School of Environmental Studies. District bonds could only be issued if they had been included in a referendum approved by the voters. Mr. Mattson said the total financing is around $2,000,000. From the standpoint of the District, this is a rather small issue compared to other bond issues the District has issued. This method of financing was an option for the District just as it was for the School of Environmental Studies. Commissioner Goodwin said he would like to emphasize that the District make every effort to limit night use of the Apple Valley High School Stadium. It does not have to fill every date to rationalize the need for a stadium. The City has made its soccer fields, at Johnny Cake Ridge Park, available for School use and will continue to do so. President Severson noted this option for financing allows the District to proceed a little more expeditiously, than first going through a referendum, and also saves on the cost of holding a special election. Vote was taken on the motion. Ayes - 5 - Nays - 0. MOTION: of Sterling, seconded by Goodwin, to adjourn. Ayes - 5 - Nays - 0. The meeting was adjourned at 7:20 o’clock p.m.