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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3B <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br />MEETING DATE: January 22, 2024 <br />TOPIC: 2023 Annual Report <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Each year staff is required to provide a recap of the prior year activities undertaken by the <br />board. In 2023, the EDA undertook the following development activities. <br />1.Approved the assignment of Contract for Private Development for AX Lino Lakes – <br />TIF District 1-12 (Distribution Alternatives) <br />2.Approved the acquisition of tax forfeit property in the Apollo Business Park from <br />Anoka County. <br />Overall, the City continued to see substantial development activity in 2023. 112 new residential <br />construction permits were issued in 202 3. Commercial activity was strong with several new <br />businesses opening and two currently under construction. Total b uilding permit valuation was <br />approximately $57,583,000. <br />Staff is also reporting that no modifications to the EDA enabling resolution are needed or <br />proposed. <br />RECOMMENDATION <br />Staff is recommending that the EDA accept the report. <br />ATTACHMENTS <br />1.Enabling Resolution