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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3B <br /> <br />STAFF ORIGINATOR: Michael Grochala <br /> <br />MEETING DATE: January 2 3, 2023 <br /> <br />TOPIC: 2022 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 2022, the EDA undertook the following development activities. <br /> <br />1. Approved a Purchase Agreement and 1st and 2nd Amendments with Silver Creek <br />Equites for the sale of 6.27 acres in the Legacy at Woods Edge Development <br /> <br />2. App roved the Tax Increment Financing Plan for District 1-14, Clearwater Creek <br />Business Park <br /> <br />Overall, t he City continued to see substantial development activity in 2022. 137 new residential <br />construction permits were issued in 2022. Total building permit valuation was approximately <br />$103,040,000. This is the highest new construction valuation on record. Approximately <br />$51,000,000 was related to the Lyngblomsten and Northpoint Garden Estates projects. <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