HomeMy WebLinkAbout03-28-1994 EDA MinutesECONOMIC' }EVELOPMENT AUTHORITY
CITY OF LINO LAKES
ECONOMIC DEVELOPMENT AUTHORITY
MARCH 28, 1994
Staff members present: City Administrator, Randy Schumacher;
Community Development Director, Brian Wessel; Consulting
Attorney, Ron Batty and Clerk -Treasurer Marilyn Anderson.
The purpose of the meeting was to conduct a public hearing
regarding the advisability of the sale of property legally
described as Lot 10, Block 1, Lino Industrial Park and to
consider a resolution authorizing the sale of the property. A
second resolution regarding the demolition of a substandard
building on the southeast corner of Lake Drive and County Road 14
(Main Street) was also to be considered.
PUBLIC HEARING - CONSIDER THE ADVISABILITY OF THE SALE OF
PROPERTY LEGALLY DESCRIBED AS LOT 10, BLOCK 1, LINO INDUSTRIAL
PARK
President Reinert opened the public hearing at 6:08 P.M.
Mr. Wessel explained that a development contract with Joe
Jungman, dba Accu-Tool, Inc., signed in December, 1993 calls for
the Economic Development Authority (EDA) to purchase the property
being developed by Accu-Tool, Inc. for $62,000.00 (as appraised)
and to resell it to the developer for $1.00. A public hearing is
required and the EDA must find that the sale is in the best
interest of the public -and furthers the City's plan for economic
development.
Mr. Wessel introduced Mr. Batty. Mr. Batty explained that the
public hearing and adoption of the resolution is basically a
housekeeping and procedural matter The resolution authorizes
the EDA to purchase the property being developed for Accu-Tool,
Inc. for $62,000.00 as appraised and to resell it to the
PAGE 1
ECONOMIC DEVELOPMENT AUTHORITY MARCH 28, 1994
developer for $1.00. This represents the land write -down that
the EDA is willing to offer in return for locating the project in
Lino Lakes. The $62,000.00 is a part of the Tax Increment
Financing commitment made by the City to Accu-Tool, Inc. as
designated in the development agreement signed in December, 1993.
President Reinert asked if there was anyone in the audience to
speak on this matter. There was no one to speak on this issue.
EDA Member Elliott moved to close the public hearing at 6:10 P.M.
EDA Member Bergeson seconded the motion. Motion carried
unanimously.
CONSIDERATION OF A RESOLUTION NO. 94 - 01 AUTHORIZING SALE OF LOT
10, BLOCK 1, LINO INDUSTRIAL PARK
EDA Member Kuether moved to adopt the resolution authorizing the
sale of Lot 10, Block 1, Lino Industrial Park. EDA Member
Elliott seconded the motion. Motion carried unanimously.
CONSIDERATION OF RESOLUTION NO 94 - 02 REGARDING DEMOLITION OF
STRUCTURALLY SUBSTANDARD BUILDING AND INTENTION TO ESTABLISH
REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT IN THE FUTURE
Mr. Wessel explained that this resolution finds the building
located at 7990 Lake Drive, known as Rosses' Corner, is
substandard and structurally unsound. This will enable the
building to be demolished so the City can declare its intent to
include the property within a redevelopment Tax Increment
District at some future date.
Mr. Batty explained that in 1989 the City created a redevelopment
Tax Increment Financing District which included the Rosses'
property. Because there was no redevelopment action in the
district within the first three (3) years of the district, the
district terminated. Mr. Batty recommended that the City avail
itself of certain provisions in the State Statutes that would
allow the building to be demolished and then recreate a
redevelopment TIF district. The City would have three (3) years
to create a redevelopment TIF district and another three (3)
years to establish development within that district. Resolution
No. 94 - 02 outlines the intention of the City on this matter.
EDA Member Kuether asked if the City would incur any liability in
regard to the demolition of the building. Mr. Batty noted that
the language in the Demolition Agreement specifically involves
the owner of the property and Anoka County.
EDA Member Kuether asked when the demolition would occur. Mr.
PAGE 2
ECONOMIC DEVELOPMENT AUTHORITY MARCH 28, 1994
Batty explained that it is anticipated to be completed after road
restrictions are lifted.
EDA Member Kuether moved to adopt EDA Resolution No. 94 - 02
Regarding Demolition of Structurally Substandard Building and
Intention to Establish Redevelopment Tax Increment Financing
Distinct in the Future. EDA Member Neal seconded the motion.
Motion carried unanimously.
EDA Member Kuether moved to approve the Demolition Agreement.
EDA Member Neal seconded the motion. Motion carried unanimously.
EDA Member Elliott moved to adjourn at 6:17 P.M. EDA Member Neal
seconded the motion. Aye.
PAGE 3