CCP 05-28-2013 - Laserfiche WebLink

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Approved MINUTES New Brighton Economic Development Commission Regular Meeting—March 19, 2013 7:30 a.m. Members/Liaisons Present: Chairperson Paul Zisla, Commissioners Mike Murlowski, Al Potter, Linda Zelm, Marie Carrell, D.L. Beach, and Councilmember Mary Burg Members/Liaisons Absent: Commissioners Vivian Neumann-Walker and Bruce Knight Staff Present: Grant Fernelius-Community Development Director, Dean Lotter-City Manager, Katie Bruno-Office Assistant. Also Present: Scott Landsman, Hoff, Barry& Kozar, P.A. Call to Order Chairperson Zisla called the meeting to order at 7:30 a.m. Approval of Minutes Motion by Commissioner Murlowski; seconded by Commissioner Potter to approve the minutes from the January 15, 2013 meeting. Approved 6-0 Report from Council Liaison Councilmember Burg thanked Commissioner Carrell for her service to the commission over the past three years. It was noted that Commissioner Murlowski has sought reappointment for an additional term. Councilmember Burg reported that the Council will be rotating their liaison appointments, indicating that Councilmember Jacobsen will be attending the EDC meetings beginning in April. A reminder was given that the Town Hall meeting will be Saturday, April 6th from 8:00 -12:00. New Brighton Exchange Director Fernelius reported that Staff has been in consultation with legal counsel on the ability of the EDC to close a portion of the meeting to the public to discuss the pending development/land sale negotiations with both APi Group, Inc. and Pulte Homes. Fernelius noted that it is important to understand that the basis for closing a meeting in this case (i.e. negotiation strategy and counter proposals) is not to withhold information from the public; but instead to maintain the integrity of negotiations and not place the City at a disadvantage. The discussion and advice from the EDC will be made public upon consecration of a deal with either party. Update on APi Discussions Director Fernelius distributed a summary/chronology report regarding the City's history with APi. In addition some of the term sheet basics were outlined. Fernelius stated that a term sheet serves as a starting point for a redevelopment agreement. Fernelius explained that a right-of-reverter allows the City to take the property back in the event the developer fails to perform as expected. It was noted the right- to-reverter is not typically utilized. Chair Zisla questioned what the right-of-reverter includes on the APi project. Director Fernelius responded that the term sheet addresses the minimum improvements that would be required. Fernelius noted that because APi is a benefited developer, they are being asked to assist with the cost of additional traffic signals, estimated$175,000-$200,000. It was noted that some of the terms included in the proposal are negotiable. It was reported that past financial models did not include land price, the studies looked at the economic value that any development may generate.