HomeMy WebLinkAbout20230620 MinutesROSEMOUNT PORT AUTHORITY
REGULAR MEETING PROCEEDINGS
JUNE 20, 2023
CALL TO ORDER/PLEDGE OF ALLEGIANCE
Pursuant to due call and notice thereof a regular meeting of the Rosemount Port Authority was
held on Tuesday, June 20, 2023, at 6:00 PM. in Rosemount Council Chambers 2875 145th
Street West.
Chairperson Essler called the meeting to order with Commissioners Freske, Essler, Theisen and
Klimpel. Commissioner Beaudette and Ober were absent.
Staff present included the following; Community Development Director Kienberger, Economic
Development Coordinator Van Oss and City Administrator Martin.
ADDITIONS OR CORRECTIONS TO AGENDA
Motion by Essler
Motion to approve agenda as presented
Ayes: 5.
Nays: None. Motion Carried .
CONSENT AGENDA
Motion by Klimpel Second by Weisensel
Motion to approve consent agenda
Ayes: 5.
Nays: None. Motion Carried.
a. May 16, 2023 Regular Meeting Minutes
CHAIRPERSON’S REPORT
None
REPORTS FROM PORT AUTHORITY COMMISSIONERS
None
NEW BUSINESS
a. Open to Business Update
Metropolitan Consortium of Community Developers (MCCD) representative Natalie
Mouilso presented and highlighted the program Open to Business. Open to Business is
a free, nonprofit program available to help new and early stage businesses grow
and prosper.
b. Authorize Declaration and Site Development Agreement with Life Time Inc.
City Administrator Martin discussed that both the City Council and Port Authority's
action is the consideration is the Declaration of Easements and Covenants along with
the Site Development Agreement between the City and Life Time. The Site
Development Agreement is a critical component of the project as it establishes the
scope of the improvements to be performed by either party. This document is directly
connected to other previously authorized documents which establish each parties'
duties in the deal, including the Lease and the Partial Assignment of property
acquisition rights.
The agreement will also be on the agenda of the City Council later this evening.
Chairperson Essler commented on the exhibit of not being able to have a gas station
and staff noted Lifetime will allow like uses, but not competing establishments.
Motion by Theisen Second by Weisensel
Motion to authorize execution of the Declaration and Site Development
Agreement between the City of Rosemount and Life Time, Inc.
Ayes: 5.
Nays: None. Motion Carried.
c. Authorize the Sale of Taxable General Obligation Bonds Subject to Certain Parameters
City Administrator Martin discussed the taxable general obligation bonds to be
considered by the Port Authority Board. The parameters resolution outlines the
following; Sets the day and time of the sale for the planned bond issuance (General
Obligation Taxable Recreational Facilities Bonds, Series 2023A) on July 11, 2023, at
10:00 a.m., Authorizes city staff to work with Baker Tilly Municipal Advisors to finalize
preparation of the Official Statement, Establishes a committee to approve the sale of
the bonds at a maximum par amount of $48 million and a maximum true interest rate
of 6.5%.
Motion by Weisensel Second by Freske
Motion to the Port Authority authorize the sale of taxable General Obligation
Recreational Facility bonds, Series 2023B, subject to certain parameters, fixing
their form and specifications, directing their execution and delivery, and
authorizing a tax levy for the payment thereof.
Ayes: 5.
Nays: None. Motion Carried.
OLD BUSINESS
a. Project Updates
Chairperson Essler noted the memo includes the latest project updates. No
further questions by the Port Authority.
DISCUSSION
None
DIRECTOR’S REPORT
None
COMMUNITY/AUDIENCE RECOGNITION
ADJOURNMENT
There being no further business to come before the Port Authority at the regular Port Authority
meeting and upon a motion by Essler and a second by Klimpel the meeting was at 6:49 p.m.
Respectfully submitted,
Erin Fasbender
City Clerk