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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3B <br /> <br />STAFF ORIGINATOR: Michael Grochala <br /> <br />MEETING DATE: February 10. 2020 <br /> <br />TOPIC: 2019 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 2019, the EDA undertook the following activities: <br /> <br />1. Approved the establishment of Tax Increment Financing Plan for District 1-13 <br />(Lyngblomsten Senior Housing). <br /> <br />2. Approved the Contract for Private Development with Lyngblomsten. <br /> <br />Overall, the City continued to see substantial development activity in 2019. 114 new residential <br />permits were issued in 2019. Total building permit valuation was approximately $42 million. <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 />1. Enabling Resolution