7.4 HRSR 05-01-2017Request for Action
ToItem Number
Economic Development Finance Committee7.4
Agenda Section Meeting DatePrepared by
General BusinessMay 1, 2017Amanda Othoudt, EDD
ItemDescription
Reviewed by
Reorganization of the EDA Finance CommitteeCal Portner, City Administrator
Reviewed by
Action Requested
Reviewchanges to the HRA Bylawsfor the creation of a joint finance committee with the EDAfor
consideration at the next HRA meeting.
Background/Discussion
At their March 3 meeting, the Housing and Redevelopment Authorit
Finance Committee to review all financial applications of the HR
Over the past two years, the HRA has developed two new financial policies and have recently received
applications for housing TIF assistance and redevelopment TIF asall
HRA applications are reviewed by the HRA for recommendation to tCouncil for final action.
The HRA is seeking a more in depth review of their financial app-
committee. Economies of Scale could be attained by utilizing the EDA Financ
financial applications and provide a recommendation to the appro
The Finance Committee currently consists of 8 members, two EDA members and two at large members
representing various disciplines. Current members are:
EDA: Dan TveiteLaw: Open
EDA: Bryan ProvoReal Estate: Ryan Hardin
Banking: Chad Vitzthum At Large: Larry Toth
Banking: Nate Ovall At Large: Jim Gromberg
At their April 17, 2017, meeting, the EDA discussed the HRAs request of creatinga joint finance
committee to review all financial applications and directed stafseek a recommendation from the EDA
Finance Committee on the structure of the new committee.
At their April 25, 2017, meeting, the EDA Finance Committee recothe structure of
committee to establish a joint committee consisting of 9 membersadvising both boards. Two members
will be represented by the EDA and appointed by the EDA, two mem
HRA and appointed by the HRA, two members will be representatives of the banking industry, one
member will be representatives of the real estate industry, one member will be representative of the law
industry, and one member representing the community at large. The Finance Committee will be
responsible for recruiting and recommending member appointmentsto the HRA and EDA representing
the banking, law, real estate industry and a community member.
Changes to the bylaws would reflect the appointment of two membe
the HRA to the Finance Committee. The EDA Finance Committee willgenerally renamed to Joint
Finance Committee.
Financial Impact
None
Attachments
HRA Bylaws-DRAFT
N:\Departments\Community Development\Economic Development\HRA\Administrative\Agenda\2017\05-01-2017\7.4 sr Reorganization of the
EDA Finance Committee.docx
Bylaws
Housing and Redevelopment Authority
in and for
the City of Elk River, Minnesota
Preamble
The Housing and Redevelopment Authority in and for the City of E
the Legislature of the State of Minnesota entitled the Municipa
Minnesota Statutes, Sections 462.411 - 462.712. On the 21st day of July, 1980, the City Council of
the City of Elk River adopted a resolution in accordance with th
Statutes, Section 462.425, Subd. 2. The bylaws of the Elk River
Authority dated as of April 28, 1996, are hereby repealed. The bylaws dated November 25, 19
are hereby adopted thereof and shall govern from this day forwar
Article 1
Authority
1.1) Name-The legal name of the Authority is The Housing and Redevelopmen
and for the City of Elk River.
1.2) Office - The principal office of the Authority shall be the city offices
River, unless otherwise determined by resolution of the Authorit
Article 2
Meetings
2.1) Annual Meeting -The annual meeting of the Authority shall be held at the princip
the Authority on the first Monday of February at 5:30 p.m., or s
designated in the notice of the annual meeting. Any annual meet
shall be held on the next business day at the same time and loca
2.2) Notice of Annual Meeting - Notice shall be published in the official newspaper of the
Authority and delivered to each Commissioner of the Authority an
governing body of the City, not less than ten (10) days in advance of
be the responsibility of the Executive Director to give this not
2.3) Quorum-There shall be a quorum to conduct business at the annual meetin
is not present, the Executive Director shall establish a date for a
cause notice to be given as provided in Section 2.2 of this Arti
2.4) Order of Business at the Annual Meeting-The annual meeting of the Authority, and so far
as possible all other meetings of the Authority, shall be conducted
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with Roberts Rules of Order Revised.The suggested order of business at the annual
meeting shall be the following:
1.Roll call.
2. Confirmation and recognition of new commissioners.
3. Election of officers and establishment of their terms.
4. Designation of committee assignments to Commissioners.
5. Determination of new committees and assignments of
Commissioners.
6. Consideration of staff assignments.
7. Approval of official newspaper.
8. Approval of official depository.
9. Reading of financial condition by Chair.
10. Reading of status of each existing project by Chair.
11. Designation of place of meeting during the remainder of calendar year.
12. Determination of dates of meeting during the remainder of calendar year.
13. Discussion of any modifications or amendments to the Municipal Housing
and Redevelopment Act.
14.Discussion of Bylaws and any suggested amendments.
2.5) Regular Meetings and Order of Business at Regular Meetings - Regular meetings shall be
held by the Authority on the first Monday of each month at 5:30
of the Authority, unless otherwise designated, and shall be openular
meeting falling upon a holiday shall be held on the next regular
and location. No separate notice need be given for regular meet
of business at regular meetings shall be the following:
1. Roll call.
2. Opening format.
3. Approval of minutes.
4. Financial matters.
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5.Old business.
6. Current business.
7.Hearings and resolutions.
8. Project considerations.
9.New business.
10. Close.
2.6) Special Meetings - Special meetings of the Authority shall be called by the Executi
Director at any time upon written request of any Commissioner.
shall be given to each commissioner a minimum of 72 hours in adv
Article 3
Officers
3.1) Officers-The officers of the Authority shall consist of a Chair, a Vice C
such other officers as shall from time to time be duly selected
3.2) Chair - The Chair, who shall be selected from among the Commissioners, shall preside at all
meetings of the Commissioners and shall have general charge of a
of the Authority subject to the approval of the Commissioners.
3.3) Vice Chair - The Vice Chair, who shall be selected from among the Commissioners, shall
preside at all meetings of the Commissioners in the absence of t
such duties as may be assigned by the Commissioners. In case of
disability of the Chair, the Vice Chair shall perform and be vested with all the duties and
powers of the Chair.
3.4) Secretary - The Secretary, who shall be selected from among the Commissioner
responsible for reviewing the minutes of each meeting of the Aut
also perform such functions as may be deemed necessary by the Ch
3.5) Executive Director-The Authority shall appoint an Executive Director and such other
permanent and temporary, that it deems necessary to carry out th
The Executive Director shall have the duties and responsibilitieby these by-laws
and as assigned by the Authority.
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Article 4
Quorum and Voting
4.1) Quorum-A majority of the Commissioners in office at any time shall cons
for all purposes. In the case a quorum is not present at any me
the power to adjourn the meeting, without notice or other announ meeting,
until the requisite number of Commissioners is present, and busi
transacted at the meeting which was adjourned may be transacted
meeting.
4.2) Voting - In addition to a quorum being required for each meeting of the Authority in order
to transact business, a majority of all of the Commissioners sha
matter before the Commissioners.
Article 5
Finance and Contracts
5.1) Fiscal Year-The calendar year shall be the fiscal year of the Authority for general and
administrative purposes; provided, however, that other fiscal ye
resolution as required or desirable for specific purposes or und
5.2) Budget - The following budgetary proceedings shall apply to the transaction of business by
the Authority:
(01)A budget shall be prepared by the Executive Director. This budg
presented to the Commissioners of the Authority for consideratio
(02)The budget shall include estimated revenues and the source of re
the projects for the ensuing year, and the estimated costs for s
general administrative and overhead costs estimated for the ensud a proposed
levy.
(03)After full consideration of the budget, the Commissioners of the
approve it and the Chair of the Authority shall submit the budge
later than the tenth day of September of each year.
Article 6
Scope of Powers and Duties
6.1) Contracts and Procurement
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(01)Approval of Contract by Attorney Contracts of the Authority shall be in writing
and, except when deemed unnecessary by the Authority or the Exec
approved as to form by the attorney for the Authority.
(02)Execution of Contracts-Unless otherwise directed by the Authority, required by law
or required by State or Federal agencies furnishing funds to the
contracts of the Authority shall be executed on behalf of the Authority as provided by the
Purchasing Policy set forth in the Financial Management Policies
amended from time to time. Non-purchasing contracts and other instruments of the
Authority shall be executed by the Chair, or other officer if the Chair is unavailable, an
executive director, or the executive directors delegate.
6.3) Disbursements
(01)Federal Funds - All funds received from the Government of the United States or a
of its agencies shall be disbursed and accounted for in accordance with the regu
requirements from time to time made by the Federal agencies furn
Authority.
(02)Official Depository - All monies received by the Authority from any source
whatsoever shall be deposited in approved bank accounts of the A
disbursed only by check, except that petty cash funds not exceed
($100) at any time may be maintained by the Authority.
(03)Checks - All checks drawn on bank accounts of the Authority shall indicat
and, in the case of a project, the project to be charged. All c
designated Commissioners of the Authority, or one officer of the Authority and the
Executive Director.
Article 7
Amendments
These Bylaws may be amended at any regular meeting of the Author
proposed amendment shall be given to each Commissioner by hand, ered, or certified mail a
minimum of ten (10) days prior to such meeting. Amendment of th
with procedural and voting requirements established by these Byl
Authority.
7.1) Advisory Committees
(01) The Authority shall maintain, at their discretion, volunteer adv
which will act in an advisory capacity to the Authority.
(02) The advisory committees will include without limitation:
(a)A joint EDA/HRA Finance Committee which shall consist of (i) two HRA
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Commissioners appointed by the HRA, (ii) two EDA Commissioners a
the EDA, and (iii) five members of the Elk River community consi
members of the banking profession, one member of the legal profeone
member of the real estate profession and one member of the commu
each of whom shall be appointed, as needed, by the then-existing members of the
Finance Committee to fill any open seat consistent with foregoin
categories;
(03) All members of the advisory committees will be approved by the A
(04) The responsibility of the advisory committees shall be to advise
Authority and to work with the executive director of the Authori
development coordinator of the city on assignments if needed.
Article 8
Amendments
These Bylaws may be amended at any regular meeting of the Author
proposed amendment shall be given to each Commissioner by hand, certified mail a
minimum of ten (10) days prior to such meeting. Amendment of th
with procedural and voting requirements established by these Byl
Authority.
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nd
Adopted this 2day of May, 2016.
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____________________________________
Commissioner
____________________________________
Commissioner
____________________________________
Commissioner
____________________________________
Commissioner
__________________________________________________________________
Commissioner Attorney
Amendments to Original 1980 Bylaws (attached):
Bylaws adopted April 28, 1986
May 11, 1994 Delete Section 3.4 and Section 3.5 of Article 3; rewritten
Bylaws adopted November 25, 1996
January5, 2004 Delete Section 2.1 and 2.5 of Article 2; rewritten
January 3, 2005 Amend Section 2.1 and Section 2.5, regarding meeting dates falli
holidays
January 2, 2007 Amend Section 2.1 and Section 2.5 of Article 2, change meeting t
5:30pm
August 5, 2013 Delete Section 6.1; Section 6.1 and 6.2 rewritten, regarding con
February 2, 2015 Amend Sections 2.1, 2.5, 2.6, and Article 7 regarding annual mee
public hearing, and amendment processing.
May 2, 2016 Amend Article 3, Section (3.4) Secretary, position description.
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