EDA 06.24.2024CHANHASSEN CITY COUNCIL
ECONOMIC DEVELOPMENT AUTHORITY MEETING
MINUTES
JUNE 24, 2024
Mayor Ryan called the meeting to order at 7:01 p.m.
COUNCIL MEMBERS PRESENT: Mayor Ryan, Councilmember Schubert, Councilmember
von Oven, Councilmember Kimber.
COUNCIL MEMBERS ABSENT: Councilmember McDonald.
STAFF PRESENT: Eric Maass, Community Development Director; Laurie Hokkanen, City
Manager.
PUBLIC PRESENT:
Nick Anhut, Senior Municipal Advisor with Ehlers & Associates.
1. Approve Economic Development Authority Meeting Minutes dated April 15, 2023
Councilmember Schubert moved, Councilmember Kimber seconded to approve the
Economic Development Authority Meeting Minutes dated April 15, 2024. All voted in
favor and the motion carried unanimously with a vote of 4 to 0.
2. Adopt a Resolution approving Tax Increment Financing (TIF) Private Development
contract between the Chanhassen Economic Development Authority and Roers
Chanhassen Bennett Apartments Owner LLC, and the Private Development contract
between the Chanhassen Economic Development Authority and Roers Chanhassen
Harlow Apartments Owner LLC for the development of Chanhassen Market Street
Addition. A Resolution being prepared by the City’s TIF attorney and will be added to
this case.
Eric Maass, Community Development Director, reviewed the Tax Increment Financing
Agreement and the priorities achieved that were requested by the City Council. He summarized
the Tax Increment Financing District 13 process to date.
Nick Anhut, Senior Municipal Advisor with Ehlers & Associates, explained the process to date
for Tax Increment Financing District 13. He reviewed the planned budget for the tax increment
financing district to date. He explained the project’s financial analysis, including the “but for”
finding. He provided a comparison of the financial assistance with other projects and
summarized the terms of the tax increment financing agreement.
Economic Development Authority Minutes – June 24, 2024
2
Mayor Ryan commented that the priorities that Mr. Anhut reviewed came from the public
hearing held at previous City Council meetings.
Councilmember Kimber moved, Councilmember von Oven seconded that the Chanhassen
Economic Development Authority adopt a resolution approving the Chanhassen Economic
Development Authority entering into two contracts for Tax Increment Financing assistance
for the Market Street Addition redevelopment. Motion carried with a vote of 3 to 1.
Councilmember Schubert voted nay.
ADJOURNMENT
Councilmember Schubert moved, Councilmember Kimber seconded to adjourn the
meeting. All voted in favor and the motion carried unanimously with a vote of 4 to 0. The
Economic Development Authority meeting was adjourned at 7:18 p.m.
Submitted by Laurie Hokkanen
City Manager