Loading...
HomeMy WebLinkAbout03-24-1997 EDA MinutesCITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MINUTES DATE: MARCH 24, 1997 MEMBERS PRESENT: J. Landers, C. Lyden, S. Kuether, A. Neal, J. Bergeson MEMBERS ABSENT: None OTHERS PRESENT: B. Wessel, R. Batty, M. Divine CONSIDERATION OF MINUTES EDA Member Neal moved to approve the minutes from Monday, February 10, 1997. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN LINO LAKES EDA AND LINO LAKES BUSINESS CENTER PHASES 2, 3, 4, 5 Mr. Wessel explained to the board that the contract outlined the condition for providing assistance to Fogerty Investments for two parcels in the Apollo Business Park. The contract provides for $390,000 in TIF, with $108,9000 upfront and $281,100 on a pay-as- you-go basis. Because the four buildings will be phased, the assistance will be based upon performance, with the developer forfeiting a percentage of the pay-as-you-go TIF for any phase that remains unbuilt by the end of 1999. Mr. Wessel noted this TIF was within the city's 1997 TIF policy of 12% of the total project cost. EDA Member Neal moved to approve the development contract. EDA Member Lyden seconded the motion. Motion passed unanimously. PUBLIC HEARING ON THE PROPOSED SALE OF PROPERTY IN THE APOLLO BUSINESS PARK TO LINO LAKES BUSINESS CENTER PHASES 2, 3, 4, 5 EDA President Landers opened the hearing at 6:04 p.m. Upon hearing no comments the hearing was closed at 6:04 p.m. CONSIDERATION OF RESOLUTION NO. 97-04 AUTHORIZING SALE OF PROPERTY Mr. Wessel explained that this resolution approves the sale of city -owned property in the Apollo Business Park to the developer. EDA Member Neal moved to approve the resolution. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 97-07 ADOPTING A MODIFIED PLAN FOR TIF DISTRICT NO. 1-7 Mr. Wessel told the board that this resolution authorizes the EDA to provide public assistance to the Lino Lakes Business Center Phases 2, 3, 4, 5. EDA Member Neal moved to approve the resolution. EDA Member Lyden seconded the motion. Motion passed unanimously. RESOLUTION NO. 97-05 AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TIF DISTRICT NO. 3-1 Mr. Wessel explained to the board that the city had received a request for tax increment financing assistance from GNW Machine, and its sister company Uptech Automation to build a 31,783-square foot office/manufacturing facility in the Clearwater Creek Development Center. This resolution authorizes preparation of a plan to modify the district. EDA Member Neal moved to approve the resolution. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF A PROPOSED SALE OF BLUE HERON DEVELOPMENT CORPORATION PROPERTY TO LAKEVIEW DEVELOPMENT INC. Mr. Wessel informed the board that Bill Dubats of the Lakeview Development Corp. requested this item be tabled. EDA Member Neal moved to table the time. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF A REIMBURSEMENT AGREEMENT BETWEEN THE EDA AND NORTHERN WHOLESALE Mr. Wessel explained that the development agreement between the EDA and Northern Wholesale called for a reimbursement agreement to be executed by the EDA for the reimbursement of $45,000 in site preparation costs as part of the TIF agreement. Northern Wholesale has met the requirements for this reimbursement. EDA Member Neal moved to approve execution of the agreement. EDA Member Lyden seconded the motion. Motion passed unanimously. RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TO ESTABLISH TIF DISTRICT NO. 1-8 Mr. Wessel explained to the intent to set up a Redevelopment District to be prepared for assistance if necessary on three pending developments. The developments included the old Gethsamene church site on Lake Drive/35W, the house owned by the city on Birch Street/49, and the 49 Club on 49/County Road J. Other parcels on the 49/J site were included and staff will investigate whether these sites qualify as a redevelopment district. EDA Member Bergeson asked if the clock would start running on the parcels. Mr. Batty explained it was a 25-year district, and the clock would begin running. Mr. Bergeson asked if other areas should be in the district, such as along Lake Drive. Mr. Batty explained that each non-contiguous piece must qualify on its own as a redevelopment district, and parcels could be added within the first five years. After that, a new TIF District could be established to include any parcels the city may want to include. EDA Member Kuether asked why the city would want to do this now. Mr. Wessel explained that 49/J was considered a door to the community. The 49 Club owner wants to rebuild the facility and needs city water to the site. The Birch Street/49 property will be owned by the city and potential developers may require assistance to get utilities to the site. He added that the owner of Apitz Garage had talked to the city about expanding onto that site, and potential users will be asked to submit a proposal. The church site in the Village is a way to provide Fairview Hospital some assistance if necessary. EDA Member Kuether noted that the city had said no TIF would be used in the Village. She said if it was used on one project, everyone else would expect it. Ms. Divine noted that only the church parcel qualified for redevelopment so all projects would not be eligible. EDA Member Lyden said he believed redevelopment was one of the best uses of TIF. Kuether noted that Forest Lake School District should be notified as well as Centennial. EDA Member Neal moved to approve the resolution. EDA Member Lyden seconded the motion. Motion passed unanimously. ADJOURNMENT EDA Member Bergeson moved to adjourn. EDA Member Neal seconded the motion. Motion passed unanimously. Meeting adjourned, 6:28 p.m.