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HomeMy WebLinkAbout08-25-1997 EDA PacketAGENDA ECONOMIC DEVELOPMENT AUTHORITY MONDAY AUGUST 25, 1997 6:00 P.M. 1. Call to Order and Roll Call 2. Consideration of Minutes of Monday, June 23, 1997 3. Consideration of Resolution No. 97-10 authorizing preparation of a modified program for Development District No. 1 and modified plans for Tax Increment Financing District Nos. 1-1 (Rice Lake Estates) and 1-2 (Sunrise Meadows) 4. Consideration of Resolution No. 97-11 authorizing preparation of a modified plan for Tax Increment Financing District No. 1-7 5. Consideration of Resolution No. 97-12 setting a public hearing for the proposed sale of property to Rice Industries, Inc., Apollo Business Park 6. Adjourn CITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MINUTES DATE: June 23, 1997 MEMBERS PRESENT: J. Landers, S. Kuether, C. Lydell, J. Bergeson, A. Neal OTHERS PRESENT: R. Schumacher, B. Wessel, M. Divine CONSIDERATION OF MINUTES EDA Member Kuether moved to approve the minutes of April 28, 1997. EDA Member Neal seconded the motion. Motion passed unanimously. CONSIDERATION OF CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN LINO LAKES EDA AND NORTHERN DEVELOPMENT, LLC Mr. Wessel explained to the board that the development agreement outlines the conditions for public assistance to Northern Development, LLC., which is locating on 4.2 acres in the Clearwater Creek Development Center. Northern Development plans to house GNW Machine and Uptech Engineering, and lease 9,000 square feet to Prime Yield, a precision parts manufacturer. In this agreement the EDA agrees to reimburse the developer 12% of the project costs for a total of $197,737 towards the cost of the land and special assessments. A total of $120,142 for assessments and administrative fees will be presented "upfront" and the remaining $77,595 will be reimbursed over time from available tax increment. Estimated payback is 3 1/2 years. The agreement also gives the city the right to preapprove any tenants that will be occupying the building to ensure compliance with zoning and TIF regulations. Mr. Bergeson noted that this was a quality company that was paying close to $100,000 in property taxes, while having no impact on the school district and little impact on the city. He said the business owners were not warmly welcomed when they appeared before the council. EDA President Landers apologized for the lack of city support shown to the owners. EDA Member Kuether moved to approve the development agreement. EDA Member Neal seconded the motion. Motion passed unanimously. ADJOURNMENT EDA Member Kuether moved to adjourn. EDA Member Neal seconded the motion. Motion passed unanimously. Meeting adjourned at 6:23 p.m. A NDA ITEM 3 STAFF ORIGINATOR: Brian Wessel DATE: 8/25/97 TOPIC: Ccsideration of Resolution No. 97-10 authorizing the preparation modification of Development District No. 1 and Tax increment ncing Pans for Tax increment Financing District Nos. 1-1 and Fina 1-2 ROUND A modification of the program and the plans far Tax increment Financing Districts No. 1-1 (Rice Lake Estates) and 1-2 (Sunrise Meadows) is required to transfer funds within the development district. This resolution will begin preparation of these plans and set an EDA meeting for October 13, 1997 at 6:00 p.m. to adopt the modified program and plan. OPTIONS: 1. Adopt Resolution No. 97-10 authorizing the preparation of the modification of Development District No. 1 and the plans for TIF Districts No. 1-1 and 1-2 2. Return to staff for further consideration RECOMMENDATION: Option 1 Member adoption: introduced the following resolution and moved its LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 97-10 RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1-1 AND NO. 1-2 WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the "City") established Development District No. 1("Development District") and Tax Increment Financing District No. 1-1 ("TIF District No. 1-1 ") therein; WHEREAS, on December 27, 1988 the City established Tax Increment Financing District No. 1-2 ("TIF District No. 1-2") within the Development District; and WHEREAS, the City established the Development District and Tax Increment Financing Districts 1-1 and 1-2 in order to promote development within areas of the community which have not developed solely through private efforts in a manner which is consistent with their prominence; and WHEREAS, it has been proposed that the Development District Program and the TIF Plans be modified to assist improvements within the Development District pursuant to Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") and sections 469.124 through 469.134 (the "City Development District Act"); and WHEREAS, the City has transferred authority for the Development District and TIF Districts No. 1-1 and 1-2 to the Lino Lakes Economic Development Authority (the "EDA"); NOW, THEREFORE, BE IT RESOLVED by the EDA as follows: 1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to prepare a modified development district program (the "Program") for Development District No. 1 and modified tax increment financing Plans (the "Plans") for TIF District No. 1-1 and TIF District No. 1-2. 2. The executive director of the EDA is authorized and directed to schedule a meeting on October 13, 1997 at 6 p.m. in the council chambers at city hall, at which time the EDA will consider adoption of the modified Program for Development District No. 1 and the modified Plans for TIF District No. 1-1 and TIF District No. 1-2. 3. The staff and consultants are authorized and directed to take any and all steps necessary to bring the modified Program and Plan before the EDA at the October 13, 1997 meeting. 4. The City is urged to schedule a public hearing on the modified Program and Plan to be held as soon after consideration of these matters by the EDA as reasonably possible. Dated: August 25, 1997 John L. Landers, President ATTEST: Randall Schumacher, Executive Director The motion for adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: Whereupon said resolution was declared duly passed and adopted. city has a rq lndustr, Inc. in the family -owned bt t purchase the last pero from Rice is a 20-year-old eview. They wish to ;ion of the park. This resolution auttwizes pr tion of the modif anon of the plan. Once the plan is prepared it will be sent to St of District #12 and Anoka County for review. Later tonight the City Council will be asked to set a date for a public hearing. OPTIONS: 1. Adopt Resolution No. 97-11 increment financing plan for TIF 2. Return to staff for RECOMMENDA? Option 1 modified tax Member introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO.97-11 RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-7 WHEREAS, on May 22, 1995 the city council of the City of Lino Lakes (the "City") established Tax Increment Financing District No. 1-7 ("TIF District No. 1-7") in order to promote development within areas of the community which have not developed solely through private efforts in a manner which is consistent with their prominence; and WHEREAS, it has been necessary to amend the Plan for the TIF District No. 1-7 in the past in order to assist development and to achieve the purposes for which TIF District No. 1-7 was established; and WHEREAS, it has been proposed that the TIF Plan be modified again to assist an industrial facility pursuant to Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act"). NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority (the "EDA") as follows: 1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to prepare a modified tax increment financing Plan (the "Plan") for TIF District No. 1-7. 2. The executive director of the EDA is authorized and directed to schedule a meeting on October 13, 1997 at 6 p.m. in the council chambers at city hall, at which time the EDA will consider adoption of the modified Plan for TIF District No. 1-7. 3. The staff and consultants are authorized and directed to take any and all steps necessary to bring the modified Plan before the EDA at the October 13, 1997 meeting. 4. The City is urged to schedule a public hearing on the modified Plan to be held as soon after consideration of these matters by the EDA as reasonably possible. Dated: August 25, 1997 President ATTEST: Executive Director The motion for adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: Whereupon said resolution was declared duly passed and adopted. PA STAFF : NATOR: Brit DATE: B%,5/97 TOPIC: Resolution No. 97-12 ate for the pt pro os�ed sale of 'to ic;e Ind�`ies, BACK 0 This resolution sets a public hearing for Monday, Oc tc comment regarding the write down of public land in tli Ric nd es a proposing to purchase a site in the the A is proposing to assist co any with a assessments. OPTIONS: is hearing for the 3, '1967 for public kpollo Business Park. Ilo:Business Park and n of ire land and 1. Adopt Resolution I N°. 9 '"=` 12 oe for a public hearing to be held on October 13,1997 at 6:OO p.m. 2, Return to staff for further consdton RECOMMENDATION: Option 1 Member introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 97-12 RESOLUTION ESTABLISHING PUBLIC HEARING FOR THE SALE OF PROPERTY WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") established Tax Increment Financing District No. 1-7 ("TIF District No. 1-7") and adopted a tax increment financing plan (the "TIF Plan") on May 22, 1995; and WHEREAS, the EDA intends to modify the TIF Plan on October 13, 1997 to authorize financial assistance to Rice Industries, Inc.; and WHEREAS, the financial assistance the EDA intends to offer to Rice Industries, Inc. will involve the sale of land owned by the EDA to Rice Industries, Inc. at a reduced price. NOW, THEREFORE BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows: 1. A public hearing shall be held on the 13th day of October, 1997 at 6:00 p.m. in order to consider the sale of property to Rice Industries, Inc. 2. The executive director is hereby authorized and directed to cause notice of the public hearing to be published in the official newspaper at least 10 days but not more than 20 days prior to the hearing. 3. Staff is authorized and directed to take all actions necessary and appropriate in order to bring this item before the EDA at its meeting on the 13th day of October, 1997. Dated: August 25, 1997 President ATTEST: Randall Schumacher, Executive Director The motion for the adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against same: Whereupon said resolution was declared duly passed and adopted.