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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3C <br /> <br />STAFF ORIGINATOR: Michael Grochala <br /> <br />MEETING DATE: February 12, 2018 <br /> <br />TOPIC: 2017 Annual Report <br /> <br />VOTE REQUIRED: 3/5 <br /> <br />BACKGROUND <br /> <br />Each year staff is required to provide a recap of the prior year activities undertaken by the board. <br />In 2017, the EDA undertook the following activities: <br /> <br />1. Took action to approve conveyance of Lots 12-14, Block 2, Carole’s Estates 2nd Addition <br />to City of Lino Lakes. This land was ultimately conveyed to the American Legion. <br /> <br />2. Took action to approve an assignment of contract for private development and TIF note <br />with United Properties and Distribution Alternatives. The project was purchased by <br />another group. <br /> <br />Overall, the City saw a substantial increase in development activity in 2017. 133 new residential <br />permits were issued in 2017. Building permit valuation topped $55 million for the 2nd year in a <br />row. <br /> <br />Staff is also reporting that no modifications to the EDA enabling resolution are needed or <br />proposed. <br /> <br />RECOMMENDATION <br /> <br />Staff is recommending that the EDA accept the report. <br /> <br />ATTACHMENTS <br /> <br />None.