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09/14/1998 Council Packet
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09/14/1998 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
09/14/1998
Council Meeting Type
Regular
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CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT AUTHORITY <br />MINUTES <br />DATE: Thursday, August 27, 1998 <br />MEMBERS <br />PRESENT: K. Sullivan, J. Bergeson, C. Dahl <br />MEMBERS <br />ABSENT: C. Lydell, A. Neal <br />OTHERS <br />PRESENT: Brian Wessel, Mary Divine, Ron Batty, Mike Mulrooney <br />CONSIDERATION OF MINUTES <br />EDA President Sullivan moved to approve the minutes from the August 24, 1998 EDA <br />meeting and noted this meeting was a continuation of the August 24 meeting. EDA <br />Member Dahl seconded the motion. Motion passed unanimously. <br />DEVELOPMENT PROPOSAL, JADT DEVELOPMENT GROUP (SHOPPING <br />CENTER) <br />Mr. Wessel explained that Mr. Batty and Mr. Mulrooney had been working with staff on a <br />development proposal for Tim Baylor of JADT Development Group. The intent was to <br />responsibly respond to the developer's request. Mr. Wessel explained that this proposal <br />was for the only shopping center within Lino Lakes, and that the City Council had <br />approved a concept plan. <br />The proposal for the EDA to consider involved a "non -TIF" pay -as- you -go assistance in <br />the range of $696,000. This was based on the estimated net city tax generated from full <br />development of Phase 1 of $69,600 per year. The developer would be assessed for city <br />improvements to the property and the city could reimburse the net city portion of the taxes <br />for 10 years or $696,000, whichever came first, to use as reimbursement of assessment <br />costs. <br />Mr. Wessel noted that while the city would not be generating city taxes for 10 years, there <br />were advantages that should be weighed. Residents would have needed shopping center <br />services sooner than later, the city would have more control over the type and quality of <br />development, and the risk to the city was minimal because only the city taxes generated by <br />the development would be reimbursed. The Forest Lake School District and the county <br />receive their portions of tax base. The process involves authorizing preparation of a <br />Redevelopment Project Plan, much like a TIF Plan. <br />Mr. Wessel informed the Authority that McDonalds has submitted a site plan for a parcel <br />on the site and wants to go to P &Z in September. <br />
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