03-25-1996 EDA Packet - Laserfiche WebLink

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DATE: TIME: MEMBERS PRESENT: MEMBERS ABSENT: OTHERS PRESENT: CITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MINUTES Monday, February 12, 1996 6:00 p.m. J. Landers, A. Neal, J. Bergeson, S. Kuether, C. Lyden None Brian Wessel, Community Development Director Mary LaForest, Recording Secretary CONSIDERATION OF MINUTES EDA Member Neal moved to approve the minutes from the December 18, 1995 meeting. EDA Member Kuether seconded the motion. Motion passed unanimously. CONSIDERATION OF ANNUAL APPOINTMENTS Mr. Wessel explained that EDA by-laws require the EDA to appoint a president, vice president, secretary, treasurer and assistant treasurer each year, as well as an official newspaper and legal depositories. EDA member Neal moved to appoint John Landers as president, Sally Kuether as vice-president, Mary LaForest as secretary, Andy Neal as treasurer, and Marilyn Anderson as assistant treasurer. EDA Member Lyden seconded the motion. Motion passed unanimously. EDA Member Kuether moved to appoint the Quad Community Press as the EDA official newspaper. EDA Member Neal seconded the motion. Motion passed unanimously. EDA Member Neal moved to approve Norwest Bank, First Bank NA, Firstar Bank, Merrill Lynch, Dain Bosworth, Juran and Moody, and Prudential Bache as the legal depositories for the EDA. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 96-01 AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TIF DISTRICT 1-4 (APOLLO BUSINESS PARK) Mr. Wessel explained that TIF District 1-4 had been established in 1990, and the district had not developed as quickly as anticipated. The district had no capacity left to allow the city to provide financial incentives to light industrial projects. Recent changes in legislation appear to have removed the barriers to taking parcels from an old district and combining them with another district, as long as the parcels are contiguous. This plan modification would remove all the parcels in District 1-4 except those already improved. Blue Heron and Emtech will remain in District 1-4.