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HomeMy WebLinkAbout09-11-1995 EDA PacketAGENDA ECONOMIC DEVELOPMENT AUTHORITY MONDAY SEPTEMBER 11, 1995 6:00 P.M. 1. Call to Order and Roll Call 2. Consideration of Minutes of August 14, 1995 3. Consideration of Resolution No. 95-10 authorizing preparation of a modification of Tax Increment Financing District No. 1-7 4. Consideration of Resolution No. 95-11 authorizing the EDA to enter into a purchase agreement with Anoka County for 6508 Hodgson Road 5. Adjourn AGENDA ITEM 3 STAFF ORIGINATOR Brian Wessel, Community Development Director DATE September 11, 1995 TOPIC Consideration of Resolution 95-10 authorizing preparation of a modification of Tax Increment Financing District 1-7, Apollo Business Park BACKGROUND .................................................... Developer Bill Fogerty and Custom Remodelers, Inc. are purchasing 3 acres of land in the city -owned portion of the Apollo Business Park to construct a 30,000 square foot facility. Custom Remodelers will occupy 15,000 square feet for an office/warehousing facility, and Mr. Fogerty will lease the remaining space. The modification to the Tax Increment Financing Plan for TIF District 1-7 will provide assistance to the partnership. Once the EDA authorizes preparation of the plan, the city council can set a date for a public hearing. ...................................... ..................................... OPTIONS 1. Adopt the resolution authorizing preparation of a modified tax increment financing plan for TIF District No. 1-7 2. Return to staff for further consideration RECOMMENDATION Option 1 AGENDA ITEM 3 STAFF ORIGINATOR Brian Wessel, Community Development Director DATE September 11, 1995 TOPIC Consideration of Resolution 95-10 authorizing preparation of a modification of Tax Increment Financing District 1-7, Apollo Business Park BACKGROUND Wisconsin Magneto is purchasing 4 acres of land in the city -owned portion of the Apollo Business Park to construct a 40,000 square foot warehousing and office facility. The modification to the Tax Increment Financing Plan for TIF District 1-7 will provide assistance to Wisconsin Magneto. Once the EDA authorizes preparation of the plan the city council can set a date for a public hearing. OPTIONS 1. Adopt the resolution authorizing preparation of a modified tax increment financing plan for TIF District No. 1-7. 2. Return to staff for further consideration. RECOMMENDATION, Option 1 Member adoption: introduced the following resolution and moved its LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 95-10 RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-7 WHEREAS, on May 22, 1995 the city council of the City of Lino Lakes (the "City") established Tax Increment Financing District No. 1-7 ("TIF District No. 1-7") in order to promote development within areas of the community which have not developed solely through private efforts in a manner which is consistent with their prominence; and WHEREAS, it has been proposed that the TIF Plan be modified to assist an industrial facility pursuant to Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act"). NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority (the "EDA") as follows: 1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to prepare a modified tax increment financing Plan (the "Plan") for TIF District No. 1-7. 2. The executive director of the EDA is authorized and directed to schedule a meeting on October 23, 1995 at 6 p.m. in the council chambers at city hall, at which time the EDA will consider adoption of the modified Plan for TIF District No. 1-7. 3. The staff and consultants are authorized and directed to take any and all steps necessary to bring the modified Plan before the EDA at the October 23, 1995 meeting. 4. The City is urged to schedule a public hearing on the modified Plan to be held as soon after consideration of these matters by the EDA as reasonably possible. Dated: September 11, 1995 President ATTEST: Executive Director The motion for adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: Whereupon said resolution was declared duly passed and adopted. AGENDA ITEM 4 STAFF ORIGINATOR Brian Wessel, Community Development Director DATE September 11, 1995 TOPIC Consideration of Resolution 95-11 to enter into a purchase agreement with Anoka County for 6508 Hodgson Road BACKGROUND .................................................. .................................................. Several months ago city attorney Bill Hawkins began discussions with Anoka County for the city's purchase of property at 6508 Hodgson Road. The .7- acre was seized by the county in 1989 as part of a drug forfeiture. The property has a small home and several outbuildings, and is zoned General Business. Mr. Hawkins and the county agreed to the purchase price of $61,400, the fair market value as determined by the county and required by forfeiture law. There are some questions regarding whether or not real property can be conveyed to an agency seeking forfeiture under Minnesota law. The county notified Mr. Hawkins that the city will be expected to undertake the legal proceeding to register title if it wishes to purchase the property. If title cannot be conveyed, the county will be willing to refund the purchase price. The economic development proposal is for the city to purchase the property and make it available to an appropriate commercial developer as approved by the city council. The intent is to facilitate a commercial use on the property that would best serve the community. The attached resolution authorizes the EDA to enter into a purchase agreement with the county and to begin proceedings to register title to the city. The agreement is contingent upon a successfully registering title. OPTIONS .................................. .................................. 1. Adopt Resolution No. 95-11 authorizing the EDA to enter into a purchase agreement with Anoka County for the purchase of 6508 Hodgson Road 2. Return to staff for further consideration ANCONt4tNDATION Option 1 Member adoption: introduced the following resolution and moved its LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION 95-11 RESOLUTION AUTHORIZING THE EDA TO ENTER INTO A PURCHASE AGREEMENT WITH ANOKA COUNTY FOR 6508 HODGSON ROAD WHEREAS, Anoka County has claim to real property at 6508 Hodgson Road in Lino Lakes through a 1989 forfeiture procedure governed by federal statutes; WHEREAS, Anoka County has offered to sell the property to the City of Lino Lakes for its fair market value of $61,400; WHEREAS, the property is zoned General Business and a commercial use would serve the best interests of the community; NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows: 1. Staff and City Attorney are hereby authorized and directed to enter into a purchase agreement with Anoka County for the purchase of the property at the fair market value of $61,400; 2. Staff and City Attorney are authorized and directed to commence the legal proceeding to register title to the City of Lino Lakes through Anoka County District Court. 3. Staff and City Attorney are authorized and directed to include in the purchase agreement terms which would require refund of the purchase price by Anoka County if the City is unable to successfully register title; and any and all protections deemed necessary to safeguard the interests of the City of Lino Lakes. Dated: September 11, 1995 President ATTEST: Executive Director The motion for the adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: Whereupon said resolution was declared duly passed and adopted.