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HomeMy WebLinkAbout01-09-2012 EDA Packet AGENDA ECONOMIC DEVELOPMENT AUTHORITY ANNUAL MEETING MONDAY, JANUARY 9, 2012 City Council Chambers Following the regular City Council Meeting 1. Call to Order and Roll Call 2. Consideration of Minutes of August 22, 2011 3. Consideration of Annual Appointments 4. Adjourn EDA MINUTES August 22, 2011 DRAFT 1 DATE : August 22, 2011 TIME STARTED : 7:05 p.m. TIME ENDED : 7:12 p.m. MEMBERS PRESENT : Commissioners Gallup, O’Donnell, Roeser, Reinert, Rafferty MEMBERS ABSENT : None OTHERS PRESENT: : Mary Divine, Mike Grochala The meeting was called to order at 7:05 p.m. by President Rafferty. CONSIDERATION OF THE MINUTES OF JANUARY 10, 2011 EDA Member Reinert moved to approve the January 10, 2011 minutes. EDA Member Gallup seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 11-01 MODIFYING DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TIF PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-10 Mary Divine, Economic Development Coordinator, introduced Resolution No. 11-01 modifying the Development Program for Development District No. 1 and TIF Plan for Tax Increment Financing District No. 1-10. She explained that special legislation was passed in the Minnesota Legislature in the 2011 session. Minnesota Laws, Ch. 112, Art. 11, Section 18 authorized the City to extend the duration of Lino Lakes Tax Increment Financing District No. 1-10 through December 31, 2023. This allows the EDA to used increments collected from the District to pay debt service on bonds issued to finance the I-35W/County Road 23 interchange reconstruction and the improvements serving Legacy at Woods Edge development. These expenditures would not be subject to the general law restrictions on pooling, including the 5-year rule and limits on the type of purpose for which economic development district increments may be spent. As required by Minnesota Statutes, Section 469.175, Development District No. 1 and the Plan for TIF District 1-10 must be modified to reflect the extended duration of the district and the increased budget, and to ensure the modification conforms to the Comprehensive Plan. EDA Member O’Donnell moved to approve Resolution No. 11-01 Modifying the Development Program for Development District No. 1 and the TIF Plan for Tax Increment Financing District No. 1-10. EDA Member Roeser seconded the motion. Motion passed unanimously. ADJOURNMENT There being no further business, EDA Member Reinert moved to adjourn. EDA Member Gallup seconded the motion. Motion carried unanimously. Meeting adjourned at 7:12 p.m. AGENDA ITEM 3 STAFF MEMBER Mary Alice Divine DATE January 9, 2012 SUBJECT Annual Appointments VOTE REQUIRED Simple Majority BACKGROUND Each year the Economic Development Authority is required to make a number of appointments at its annual meeting. The following is a list of appointments for your consideration: 2011 2012 Recommended 1. President Rob Rafferty (Council Prerogative) 2. Vice President Jeff O’Donnell (Council Prerogative) 3. Treasurer Jeff Reinert (Council Prerogative) 4. Secretary Economic Development Coordinator Economic Development Coordinator 5. Assistant Treasurer Finance Director Finance Director 6. Executive Director City Administrator City Administrator 7. Official Newspaper Quad Community Press Quad Community Press 8. Legal Depositories Patriot Bank LMC 4M Fund Wells Fargo Securities Wells Fargo Advisors US Bank Merrill Lynch RBC Capital Markets Morgan Stanley Sterne, Agee & Leach Bank of the West Others as needed Patriot Bank LMC 4M Fund Wells Fargo Securities Wells Fargo Advisors US Bank Merrill Lynch RBC Capital Markets Morgan Stanley Sterne, Agee & Leach Bank of the West Others as needed 2011 2012 Recommended 9. Legal Services Kennedy & Graven Barna, Guzy & Steffan, Ltd. Ratwick, Roszak & Maloney Kennedy & Graven Barna, Guzy & Steffan, Ltd. Ratwik, Roszak & Maloney Sweeney, Borer & Sweeney Staff suggests that if changes are to be made to the appointments of President, Vice President and Treasurer, they be made in separate motions. The remaining appointments can be made in one motion. RECOMMENDATION: Staff is recommending Council prerogative or as recommended. 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Twin Cities Gateway offers easy access to all the fun and excitement of metropolitan life while retaining small town charm and a sense of community. Whether you’re coming for business or pleasure, with 22 lodging properties to choose from, Twin Cities Gateway offers free parking, more choices, more value, and more fun for your visit. In addition to enjoying all the metro area has to offer, you’ll find world-class golf, abundant recreational opportunities, stunning natural surroundings and quality accommodations to fit any budget while staying in the safe, friendly and family fun environment of the Twin Cities Gateway. The region is also home of the National Sports Center in Blaine—the world’s largest amateur athletic facility. It has been recognized by Guinness as the “world’s largest soccer complex” with 52 soccer fields. The Schwan Super Rink, with eight sheets of ice, is also the world’s largest ice arena facility. 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It’s no surprise they are rapidly becoming the best places to stay for a visit as well. tWin citieS gateWaynortH 2012 eVentS Snowbowl Feb. 11-12 Ham Lake Park, Ham Lake 49er days June 21-23 Commons Park, Fridley Blazin’ festival June 22-24 Aquatore Park, Blaine fourth of July celebrations National Sports Center, Blaine Sand Creek Park, Coon Rapids Lions Park, Ham Lake riverfest & crafts fair July 14 Downtown Anoka Schwan uSa cup July 17-21 National Sports Center, Blaine Slice of Shoreview July 27-29 Island Lake Park, Shoreview Stockyard days Aug.5-13 Long Lake Park, New Brighton Blue Heron days Aug. 18-20 Citywide, Lino Lakes festival in the park Aug. 18 City Hall Park, Mounds View planning a trip to MinneapoliS - Saint paul? 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