HomeMy WebLinkAbout08-27-2012 Council Minutes (3) CITY COUNCIL SPECIAL WORK SESSION August 27, 2012
APPROVED
1 CITY OF LINO LAKES
2 MINUTES
3
4 DATE : August 27, 2012
5 TIME STARTED : 7:00 p.m.
6 TIME ENDED : 8:05 p.m.
7 MEMBERS PRESENT : Council Member Stoesz, O'Donnell,
8 Rafferty,Roeser and Mayor Reinert
9 MEMBERS ABSENT : none
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11 Staff members present:-City Administrator Jeff Karlson; Community Development
12 Director Michael Grochala; Economic Development-Coordinator Mary Alice Divine;
13 Public Safety Director John Swenson; City Clerk Julie Bartell
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15 The special meeting was called for the purpose of discussing economic development.
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17 Dominium Development—Economic Development Coordinator Divine introduced
18 representatives present from Dominium, a development company: Chris Barnes,Nick
19 Anderson, and Mark Cook. They will be presenting information on a concept they have
20 for the Legacy at Woods Edge area(written information distributed).
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22 Mr. Barnes gave background on Dominium,the company and its history including
23 managing and owning the Lino Lakes Lakewood Apartments. He focused on the
24 company's strategy of staying in for the"long haul". Information was presented on their
25 holdings,many in the Midwest region and much in the order of affordable housing. They
26 have a history of using the best possible materials in their projects and for being good
27 neighbors in the community.
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29 Mr. Anderson then focused on Lakewood Apartments and their desire to repeat the
30 success there by developing some affordable townhomes. Tax credits would be an
31 integral part of the financing for such a project and applying for those credits requires a
32 certain schedule. A strong tax credit application to the state would include city support,
33 either through financing or-concept support. They've done some very preliminary site
34 plan work and are also open to the concept that is already in place for the site. He also
35 reviewed Dominium projects that would be similar. Council Member Roeser received
36 additional information on income levels for affordable rental housing. The council and
37 representatives discussed management policies and the company's discipline in that area.
38 This proposed development would probably be in the range of 40 to 50 rental units.
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40 The council and the developers discussed possible financing tools. The developer
41 representatives noted that tax credit applications would be due in May 2013 and,before
42 submitting an application,they would need an option on the property. They do not do
43 construction but have a bidding process to hire a general contractor. The developers
44 explained their company's normal holding process—properties are generally built,
45 managed and held for 15 to 30 years and then capitalized.
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CITY COUNCIL SPECIAL WORK SESSION August 27, 2012
APPROVED
46
�- 47 It was clarified that the developer is seeking knowledge of the city's interest at this point.
48 The mayor suggested that the council receive Dominium's presentation in electronic form
49 to look over on their iPads and he recommends that the council have a brief discussion
50 next at the September work session, after some review and preparation of ideas that could
51 be acceptable.
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53 Economic Development Update–Economic Development Coordinator Divine updated
54 the council on current economic development activities, including meeting with Anoka
55 County on the Legacy properties,the HammerHeart Brewing Company location,
56 marketing of the former ECFE facility at the city complex and the business expo that was
57 included in Blue Heron Days. She also-reviewed meetings that have occurred with-
58 developers/brokers to market city properties.
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60 The meeting was adjourned at 8:05 p.m.
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62 These minutes were considered, corrected and approved at the regular Council meeting,held on
63 September 10, 2012.
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68 —uli. i e Bartell, Ci , Clerk Jeff : e , ayor
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