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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3B <br />STAFF ORIGINATOR: Michael Grochala <br />MEETING DATE: February 8, 2016 <br />TOPIC: 2015 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 board. <br />In 2015 the EDA undertook the following activities: <br />1. Issued Lease Revenue Bonds for the construction of the Lino Lakes Fire Station. <br />2. Entered into a Lease Agreement with the City of Lino Lakes for the Fire Station. <br />3. Entered into a Sale and Purchase Agreement with D.R. Horton for 10 acres of property <br />owned by the EDA in the Legacy at Woods Edge Development. <br />Overall the City saw an increase in development activity in 2015. 47 new residential permits <br />were issued in 2015, our highest total since 2007 (91). Three new restaurants, Elwood's, Tasty <br />Asia, and Fiesta Cancun also opened in 2015. The City also saw the redevelopment of the <br />former Schwan's food distributing site with the opening of Gracewood, a 39 unit assisted living <br />facility. <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 />None. <br />