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April 21, 2010 Community Development Authority
Owen Community Development Authority
April 21, 2010
The Community Development Authority met in regular session on Wednesday, April 21, 2010 at 6:00 p.m. at City Hall. Chairman Steve Heggemeier presided and Terri Ernst served as secretary. Present members were: Darlene Zukowski, Eileen Wilkens, Harriett Laube and Kim Sybers. Absent were: Mike Riihinen and Dennis Lulloff.
Also present was Mayor Tim Swiggum, Brian Reilly with Ehlers Financial Advisors, Sheila Nyberg with CCEDC and CWAIC members: Cindy Cardinal, Steve Frankewicz, Tara Wisniewski, Jim Heneman and Tim Conway.
Minutes
A Zukowski/Wilkens motion and subsequent vote approved the minutes of the 3/17/10 meeting.
EDA letter update
Mayor Tim Swiggum explained to the CDA that the EDA had recently requested a response from the City and CWAIC demonstrating their commitment to the Innovation Center project and stating how they plan to meet required deadlines for the grant. On April 27, 2010 the City Council approved to move forward to comply with the EDA requirements and for the CDA to borrow $900,000 to allow CWAIC to continue the Innovation Center Project and get City infrastructure to the proposed Travel Plaza site in the East Commercial Park. A letter of response was sent to the EDA jointly from the City and CWAIC on April 14, 2010 with timelines for the project.
Ehlers Proposal
Brian Reilly with Ehlers Financial Advisors from Roseville, Minnesota presented a packet for discussion of financing within TID No. 4. Points of interest showed the current financial situation for TID No. 4 and that it is presently generating sufficient surplus cash flow to support principal amount of debt up to $825,000 at the current level of increment and tax rate. Both the Water and Sewer Utility are in good financial condition and could possibly support up to $1.5 million of debt. The City’s General Obligation borrowing capacity is extremely limited at 18% or $385,000 with the recommendation not to go lower than 10% to 15%. Project costs were reviewed for infrastructure, planning/design services and future infrastructure and planning. Finance options were discussed such as water/sewer system revenue bonds, CDA revenue bonds, recovery zone bonds and Build America bonds. Brian will prepare further information for the 2nd Council meeting in May.
Executive Director Position
On April 13, 2010, the City Council voted and approved to send to the CDA a recommendation that they consider moving forward as a joint effort with the CWAIC group to pursue and solicit the hiring of an Executive Director. Much discussion took place with emphasis that the CDA should not have to be in charge of hiring and that the CWAIC group should take on that role. A Wilkens/Zukowski motion and subsequent vote approved that the CDA recommends to the City Council that the City give $100,000 to CWAIC and for their group to be responsible for the hiring and paying of this position so that they may continue in the promotion of their project and raise the funds needed.
Driveway Access
Clerk Ernst reported that discussions have taken place with the Clark County Highway Commissioner and MSA Professional Services about relocating the proposed access driveway (Heartland Drive) into the East Side Commercial Park. A more preferred option by the County moves the proposed driveway from the west lot line of the park to a more centrally located driveway into the park along County Highway X.
Infrastructure Probable Costs
Members were given a probable cost sheet prepared by MSA Professional Services dated 2/11/2010. The probable cost of $6 million is the worst case scenario and construction will more than likely not be that much. This cost is for all construction of infrastructure including water, sewer, electric, gas and communication utilities, site grading & storm water detention pond, streets and storm water conveyance and land purchases.
Sale of lots agreement
Each CDA member was given a copy of the Option Agreement that will be used when selling lots in the East Side Commercial Park and Agribusiness Park. They are asked to review it and bring back their ideas to the next CDA meeting in May. Brian with Ehlers asked to see all agreements as they may need to include proper language according to the direction the CDA takes in borrowing funds. It was asked that Clerk Ernst inquire to other municipalities what kind of agreements they use for selling lots.
The next CDA meeting is scheduled for Wednesday, May 19, 2010 at 5:00 pm.
Adjourn
A Laube/Sybers motion and subsequent vote approved to adjourn the 4/21/10 open session meeting at 8:47 p.m.
Archive:
November 1, 2011 Owen-Withee Sewer Commission Meeting
October 26, 2011 Community Development Authority Minutes
September 21, 2011 CDA Minutes
September 14, 2011 Parks & Rec. Minutes
August 17, 2011 Community Development Authority Minutes
August 10, 2011 Parks & Rec. Minutes
July 20, 2011 Community Development Authority Minutes
June 22, 2011 Community Development Authority Minutes
June 7, 2011 Community Development Authority Minutes
May 25, 2011 Community Development Authority Minutes