10-12-2004 EDA Packet - Laserfiche WebLink

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DRAFT DATE MEMBERS PRESENT MEMBERS ABSENT OTHERS PRESENT CITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MINUTES : September 27, 2004 : J. Bergeson, D. Carlson, C. Dahl, J. Reinert, D. Stoltz : None : Gordon Heitke, Mary Divine, Michael Grochala and Bill Hawkins CONSIDERATION OF MINUTES OF FEBRUARY 23, 2004 EDA Member Bergeson moved to approve the minutes of the February 23, 2004 EDA Meeting. EDA Member Stoltz seconded the motion. Motion passed unanimously. CONSIDERATION OF SALE OF PROPERTY TO E.G. RUD & SONS LAND SURVEYORS A. Consideration of Resolution No. 04-02 Authorizing the Sale of Property. Ms. Divine summarized the Staff report, indicating Staff is recommending approval. President Reinert opened the public hearing at 6:12 p.m. The EDA asked about access to the property, which Ms. Divine explained comes from Hodgson Road and also a left turn lane that goes to the Shaw Property, where access would have to be granted. EDA Member Carlson expressed concern about the amount of Lakeshore, and if the City was getting the full value for the property. She indicated it is really six acres of property, even if it is not all buildable land. She questioned why the City would not try to keep land along the lake since they are not being paid for it anyway. She noted it is a good company that will provide a quality building, but she is concerned they are missing an opportunity for public ownership of lakeshore at a time when they are looking to purchase lakeshore. Staff explained how the piece of property came to be, noting it was pieced together from several other situations. The utility easement on the property was clarified, as well as the fact that that easement is a power company easement and cannot be vacated. Ms. Divine clarified the appraisal is based on the full amount of acreage and on market value, not on the buildable portion of land. She indicated while this property was not advertised for sale because Staff was working on clearing up title issues, they have had people come in and ask about it, and when the property was appraised they received this full market value offer, which they brought to the EDA. She indicated if there were going to turn down this offer and put it on the market they would have to make the decision to sell it for more than the appraised value.