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1 <br />APPROVED <br />CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT <br />ADVISORY COMMITTEE <br />MINUTES <br /> <br />DATE: November 18, 2010 <br />MEMBERS <br />PRESENT: M. Keller, L. Masonik, B. Combs <br />MEMBERS <br />ABSENT: B. Menke, D. Johnson, J. Schwartz, J. Stranik, K. Corson <br /> <br />OTHERS <br />PRESENT: M. Divine, P. Bengtson (part) <br /> <br />APPROVAL OF MINUTES <br />The Minutes of September 30, 2010 were approved. <br /> <br />INTERNATIONAL MOTORSPORTS ENTERTAINMENT & DEVELOPMENT CORP <br />UPDATE <br />Ms. Divine updated members regarding IMEDC and its members. IMEDC has not provided <br />evidence of capability to complete a race track to date. They continue to request support from the <br />city council. The group is aware that a race track is an uphill battle in most cities in the metro <br />area, and they want to move forward with a city that wants a race track. The council has not been <br />willing to provide IMEDC with that show of support without more information and has <br />requested a noise study. IMEDC has provided some noise analysis that is general in nature and <br />extrapolated from other race tracks. Staff talked to firms that do studies to get cost estimates and <br />will bring it back to council. However, IMEDC’s board of directors has indicated it won’t do a <br />noise study without city support. <br /> <br />Mr. Combs suggested the city and IMEDC move forward for a time. His concern is how viable <br />the project is, the economic impact of the project down the road. Mr. Masonik said the track <br />positively affects the tax base and would create jobs and must be weighed against the negative <br />impacts of noise. Ms. Keller noted that the Comp Plan is a living, breathing document and the <br />city needs to be willing to deviate if opportunities come along. There will be people against it no <br />matter what type of development it is. Mr. Combs suggested that the council should not have any <br />regrets by going further along with IMEDC. Part of the property the developers have under <br />contract is in Columbus. The council is aware that there is a possibility the project could go to <br />Columbus and Lino Lakes could still get the noise and traffic without all the economic benefit. <br /> <br />COMMERCIAL UPDATE <br />Ms. Divine informed the members that staff is working with a landowner on some properties on <br />the northeast side of 35E/County Road 14. This is an opportunity to get a first phase of the Otter <br />Lake Road extension to the north, plus utilities to the site. McDonald’s and a national pharmacy <br />are interested. The legislature has provided a window of opportunity to use TIF for new <br />commercial development which could help get the infrastructure started.