06-08-1998 EDA Minutes - Laserfiche WebLink

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council to decide, but his opinion was that some cities need it to remain competitive, and Lino Lakes probably still needed TIF to maintain a momentum in industrial development. Mr. Wessel introduced Fritz Johnson, owner of Teknapack in the Apollo Business Park. He described Teknapack as an example of the success of the incubator program. Mr. Johnson is now leasing in the park, and wants to build his own building with a partner, Dana Madsen of NATRA, who is also leasing in the park. Mr. Johnson explained that he lived in the city and wanted to stay in the park, but to continue growing, he needed more space. He planned to also add leasable space to his new building to include other incubator businesses. He said he checked with other cities, and Lino Lakes is about average in its TIF incentives. He added the city needs to be creative with the parcels left in Apollo. Some have double frontage, making them more difficult to develop, and the correctional facility is a perception problem for some prospects. Mr. Batty said he would recommend a new district be formed for each new qualifying project. This has higher administrative costs, but provides more flexibility. Ms. Sullivan questioned if this would cause hopscotch development. Mr. Batty said it would not, but new facilities would keep coming on the tax rolls over time, just as now. It would not lengthen the approvals process. Mr. Wessel noted that if the EDA approved revitalizing the TIF program, staff would be returning in July to recommend establishing a new TIF district to support the Teknapack project. EDA member Bergeson moved to reestablish the TIF Proposal Policy by allowing the creation of new districts, when appropriate, within the Apollo Business Park, Clearwater Creek Development Center and Lakes Business Park. EDA Member Neal seconded the motion. Motion passed unanimously. ADJOURNMENT EDA Member Lyden moved to adjourn at 6:40 p.m. EDA Member Neal seconded the motion. Motion passed unanimously.