Laserfiche WebLink
CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT AUTHORITY <br />MINUTES <br />DATE: September 11, 1995 <br />TIME: 6:03 p.m. <br />MEMBERS <br />PRESENT. V. Reinert, L. Elliott, S. Kuether, J. Bergeson <br />MEMBERS <br />ABSENT: A. Neal <br />OTHER <br />PRESENT: Brian Wessel, Community Development Director <br />Randy Schumacher, City Administrator <br />Mary LaForest, Economic Development Assistant <br />CONSIDERATION OF MINUTES <br />EDA Member Kuether moved to approve the minutes from the August 14, 1995 EDA <br />meeting. EDA Member Elliott seconded the motion. Motion passed unanimously. <br />CONSIDERATION OF RESOLUTION NO. 95-10 AUTHORIZING PREPARATION OF A <br />MODIFICATION OF TAX INCREMENT FINANCING DISTRICT 1-7 <br />Mr. Wessel explained to the board members that this resolution had originally been <br />prepared to provide financial assistance to Wisconsin Magneto, a distributor of Briggs <br />& Stratton engine parts. The company had several offers from different cities, and <br />they had informed Mr. Wessel that they were choosing Anoka's offer. The two offers <br />were comparable, but Anoka finances all land and assessments up front. Mr. Whalen, <br />general manager of the company, preferred the Lino Lakes location, but corporate <br />officials were opposed to locating next to the prison. <br />Another prospect who expressed interest in the site was anxious to move through the <br />approval process and begin construction this fall. Developer Bill Fogerty and Custom <br />Remodelers, Inc. are interested in purchasing 3 acres to construct a 30,000 square <br />foot facility. Custom Remodelers will occupy one-half the building for its <br />telemarketing/office/warehouse space, and Mr. Fogerty will lease the rest. Custom <br />Remodelers has been in business 5 years, with substantial sales growth. While some <br />negotiations must still be worked out, Mr. Wessel explained that adopting this <br />resolution would merely allow the process to begin to ensure construction could begin <br />before winter. <br />EDA President Reinert questioned whether a remodeling company would have outside <br />storage, since the company would be highly visible from the freeway. Mr. Wessel said <br />