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HomeMy WebLinkAbout01/03/2013 EDAC Minutes 1 APPROVED CITY OF LINO LAKES ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES DATE: January 3, 2013 MEMBERS PRESENT: J. Stranik, D. Johnson MEMBERS ABSENT: B. Combs, L. Masonik, C. Wagner, J. Schwartz, L. Thor, M. Kassner, B. Tereik OTHERS PRESENT: M. Divine, Tom Colgan (F&M Bank) APPROVAL OF MINUTES The minutes of October 4, 2012 were held over due to lack of a quorum. DEVELOPMENT PROPOSALS LINO LAKES ASSISTED LIVING Ms. Divine told members that Lino Lakes Assisted Living had revised its offer on the parcel next to its existing facility that is within reach of the county’s assessed market value. Its plan is to build 36 units of memory care. Staff and bond counsel have met with the Anoka County attorney using this offer as an example of the uncertainty that the county’s administrative fee policy causes the city and a developer when it comes to finalizing a deal. Staff proposed the county set a specific fee that is reasonable for this single property so that the project could move forward with more certainty. The county attorney agreed to revisit the county’s policy and will get back to the city regarding this issue. The next step, once that is resolved, is to propose a purchase of the property and have the county board decide if it will accept the offer. If the county agrees to the suggested fixed administrative fee and the purchase offer, the purchase price will cover the outstanding assessments on the property. Ms. Divine asked members its consensus for moving forward with this use on the parcel. Members concurred that a) the use was already there and therefore expansion should not have negative impact on the surrounding area; b) it is best to take advantage of the market since activity is better than no activity; and c) the use helps people to stay in the community near their families. DOMINIUM Ms. Divine informed the committee that as a result of “fiscal cliff” legislation, a fixed tax credit that was due to expire was extended for affordable housing, which gave the affordable townhome project better prospects of moving forward, with the city collecting at least a sizable portion of the outstanding assessments on the parcel or parcels that would be purchased. A number of other funding sources will need to fall into place, including an agreement by the county to sell the land for less than fair market value. Statutes provide counties that option for affordable housing. Members suggested touring other Dominium projects if this moves forward. 2 INDUSTRIAL PROSPECT Ms. Divine informed members that the prospective distribution facility that was considering Marshan Industrial Park had completed a transportation study, with less than positive results. The company is reconsidering its options at this time. EDAC DEVELOPMENT GOALS Members discussed the prospect of setting specific goals for development and job growth. Members questioned whether it was possible since growth is market driven. Mr. Stranik noted that he would like to further look at EDAC’s structure and how it could be the most productive. Ms. Divine said that retention and expansion stilled played an important role, and asked members if they would like to have a representative from GreaterMSP come to a meeting to discuss its new BRE efforts. She will call them and see if they are available for February. She also noted that she is working with the Quad Press to do a Progress Edition that features local industry. Meeting adjourned.