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08/06/2015 EDAC Packet
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08/06/2015 EDAC Packet
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EDAC
EDAC Document Type
EDAC Packet
Meeting Date
08/06/2015
EDAC Meeting Type
Regular
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CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT <br />ADVISORY COMMITTEE <br />MINUTES <br />DATE: June 11, 2015 <br />MEMBERS <br />PRESENT: Nathan Vojtech, Lou Masonick, Chad Wagner. <br />MEMBERS <br />ABSENT: Thomas Colgan, Rebecca Glewwe, Tami Wier, Don Johnson, Julie Schwartz. <br />OTHERS PRESENT: Michael Grochala, Kirsten Barsness <br />APPROVAL OF MINUTES <br />It was moved by N. Vojteck to approve the minutes of March 5, 2015. The motion was <br />seconded by C. Wagner and passed unanimously. <br />FIRE STATION UPDATE <br />L. Masonick requested an update on the construction of the Fire Station due to a recent article in <br />the Quad Press. Mr. Grochala stated that there appeared to be some inaccuracies within the <br />article. Specifically, Mr. Grochala noted that use of Lease/Revenue Bonds for construction of <br />public facilities is common. City Hall, constructed in 1998 used the same financing. He also <br />stated that the use of Lease/Revenue Bonds does not increase costs 10 to 15 percent as claimed <br />in the paper. Cost differences are primarily the interest rate difference compared to issuance of <br />general obligation bonds. L. Masonick suggested that additional information be provided to <br />residents to clarify this issue. <br />BUSINESS RETENTION & EXPANSION PROGRAM <br />Mr. Grochala introduced Kirsten Barsness to discuss next steps in the development of a Business <br />Retention Program. Ms. Barsness provided an overview of the work plan and identified two <br />steps in the process. First, City needs to decide the scope of the program including, identifying <br />what businesses, who will reach them and what will be provide. Secondly, we need to develop <br />the program and provide training for those involved. <br />Committee members discussed the value of maintaining and expanding communication with <br />local businesses. Mr. Grochala stated that he would work with Ms. Barsness to develop a work <br />plan and cost estimate. <br />
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