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HomeMy WebLinkAbout02-10-1997 EDA MinutesCITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MINUTES DATE: Monday, February 10, 1997 MEMBERS PRESENT: J. Landers, C. Lyden, S. Kuether, A. Neal, J. Bergeson MEMBERS ABSENT: None OTHERS PRESENT: B. Wessel, M. Divine CONSIDERATION OF MINUTES EDA Member Neal moved to approve the minutes from the July 8, 1996 EDA meeting. EDA Member Kuether seconded the motion. Motion passed unanimously. CONSIDERATION OF ANNUAL APPOINTMENTS Mr. Wessel explained John Landers was currently EDA president, Sally Kuether was vice president and Andy Neal was treasurer. EDA Member Neal moved to reappoint the same officers for 1997. EDA Member Bergeson seconded the motion. Motion passed unanimously. Mr. Wessel recommended the EDA designate the Quad Community Press as the official EDA newspaper. EDA Member Neal moved to appoint the Quad. EDA Member Kuether seconded the motion. Motion passed unanimously. Mr. Wessel recommended the EDA designate Norwest Bank, First Bank NA, Merrill Lynch, Dain Bosworth, Juran and Moody, and Prudential Bache as the EDA Official Depositories. EDA Member moved to approve the list. EDA Member Neal seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 97-01 APPROVING A REQUEST TO TRANSFER TITLE Mr. Wessel explained that the land for Progressive Engineering in the Apollo Business Park was purchased by Rush Enterprises in 1996. They would now like to transfer title into the name of Harry Chapple and his wife, Karen. The development agreement between the EDA and Rush Enterprises allows for the transfer of title with EDA approval. EDA Member Kuether moved to approve Resolution No. 97-01. EDA Member Neal seconded the motion. Motion passed unanimously. RESOLUTION NO. 97-02 AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TIF DISTRICT 1-7 Mr. Wessel explained to the Authority that the city has a request for TIF assistance from Fogerty Investments to build on two parcels on city -owned property in the Apollo Business Park. EDA Member Neal moved to approve Resolution No. 97-02. EDA Member Bergeson seconded the motion. Motion passed unanimously. RESOLUTION NO. 97-03 SETTING A DATE FOR A PUBLIC HEARING FOR THE SALE OF PROPERTY TO FOGERTY INVESTMENTS Mr. Wessel explained that a public hearing was required when the city proposed to sell city property in the Apollo Business Park. The resolution calls for a hearing to be scheduled on March 24, 1997 at 6 p.m. EDA Member Kuether moved to approve Resolution No. 97-03. EDA Member Neal seconded the motion. Motion passed unanimously. Mr. Neal asked about the length of leases in the Apollo Business Park. Ms. Divine stated they are generally 3-5 years. Mr. Neal asked about offering TIF assistance for commercial property in the Clearwater Creek Development Center. Mr. Wessel explained that commercial businesses do not qualify for TIF. ADJOURNMENT EDA Member Kuether moved to adjourn. EDA Member Neal seconded the motion. Motion passed unanimously. Meeting adjourned at 6:16 p.m.