12/07/2023 EDAC Combined Packet - Laserfiche WebLink

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ECONOMIC DEVELOPMENT ADVISORY COMMITTEE AGENDA ITEM 3C STAFF ORIGINATOR: Michael Grochala, Community Development Director EDAC MEETING DATE: December 7, 2023 TOPIC: Apollo Business Park - Acquisition of Tax Forfeit Property Background In August the EDAC discussed and supported the acquisition of tax forfeit properties in the Apollo Business Park to support industrial expansion opportunities. These properties were originally created as borrow pits for fill material in the development and subsequently used for stormwater runoff. We believe there is capacity in the lots that would allow for some building expansion and/or use for additional stormwater from new construction. Since August staff has continued to work with Mountain Manufacturing on their potential facility expansion. While expansion options are still being evaluated both parties believe acquisition of the parcel located southwest of Mountain Manufacturing is desirable. Under state law governmental subdivisions may purchase the tax forfeit property from the county for an authorized public purpose. The City’s Economic Development Authority (EDA) is authorized to acquire and sell property for economic development purposes. Staff is proposing that the EDA acquire the property from Anoka County and convey it, at cost, to Mountain Manufacturing. The County has established a market value of $900. Prior to the conveyance the City will retain a drainage and utility easement over a portion of the property to maintain drainage rights for adjacent properties. The sale may also include a right of reverter that provides the city with an option to repurchase at the sale price if no improvements are undertaken. The EDA is scheduled to consider the request at the December 11, 2023 meeting. Requested EDAC Direction Staff is seeking EDAC recommendation to purchase the tax forfeit property. Attachments 1. Site Location Map