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Home My WebLink About02-11-2019 EDA PacketLINO LAKES ECONOMIC DEVELOPMENT AUTHORITY MEETING Monday, February 11, 2019 Following adjournment of regular council meeting City Council Chambers 1.Call to Order and Roll Call 2.Consideration of Minutes: February 12, 2018 February 12, 2018 (Closed) February 26, 2018 (Closed) 3.Action Items A.Consideration of 2019 Annual Appointments B.2018 Annual Report 4.Adjourn EDA MINUTES February 12, 2018 DRAFT 1 DATE : February 12, 2018 TIME STARTED : 6:15 p.m. TIME ENDED : 6:25 p.m. MEMBERS PRESENT : EDA Members Kusterman, Reinert, Rafferty, Maher, Manthey MEMBERS ABSENT : None OTHERS PRESENT: : Community Development Director Michael Grochala; City Clerk Julie Bartell The meeting was called to order at 6:15 p.m. by EDA President Rafferty. CONSIDERATION OF THE MINUTES OF DECEMBER 11, 2017 Economic Development Authority (EDA) Member Reinert moved to approve the December 11, 2017 minutes as presented. EDA Member Manthey seconded the motion. Motion carried on a voice vote; EDA Member Stoesz abstained from voting. ACTION ITEMS A. Consideration of 2018 Annual Appointments – Community Development Director Grochala reviewed the written report. The council had reviewed appointment at their work session on February 5. The following appointments were approved: President – Michael Manthey Vice President- Melissa Maher Treasurer – Dale Stoesz Appointments for the remaining positions were approved as indicated on the submitted staff report. EDA Member Maher moved to approve the annual appointments as presented. EDA Member Manthey seconded the motion. Motion carried on a voice vote; EDA Member Stoesz abstained from voting, noting his affiliation with US Bank, a depository listed. B. Consider Resolution No. 18-01, Approving Assignment of Contract for Private Development and TIF Note – Community Development Director Grochala recalled the 2016 EDA action entering into a contract relative to construction of a facility in the city by United Properties. There was a property acquisition and the acquirer is working on financing. The financer is calling for this assignment of collateral. This action has been reviewed and approved by the EDA’s bond counsel. EDA Member Maher moved to approve Resolution No. 18-01 as presented. EDA Member Reinert seconded the motion. Motion carried on a voice vote. C. 2017 Annual Report – Community Development Director Grochala explained that the EDA is required to do an annual recap of its activities. He reviewed the written annual report. EDA MINUTES February 12, 2018 DRAFT 2 EDA Member Manthey moved to approve the annual report as presented. EDA Member Maher seconded the motion. Motion carried on a voice vote. ADJOURNMENT There being no further business for consideration, the meeting was adjourned at 6:25 p.m. CLOSED EDA February 12, 2018 DRAFT 1 1 CITY OF LINO LAKES 2 ECONOMIC DEVELOPMENT AUTHORITY 3 MINUTES 4 CLOSED SESSION 5 6 DATE : February 12, 2018 7 TIME STARTED : 7:10 p.m. 8 TIME ENDED : 8:25 p.m. 9 MEMBERS PRESENT : Council Members Rafferty, Manthey, 10 Maher, Stoesz and Mayor Reinert 11 MEMBERS ABSENT : none 12 13 Staff present: Community Development Director Michael Grochala; Finance Director 14 Sarah Cotton; City Clerk Julie Bartell. 15 16 EDA President Manthey called the meeting to order at 7:10 p.m. in the Council 17 Chambers at Lino Lakes City Hall. Before the meeting was closed, EDA President 18 Manthey read a statement on the purpose of the meeting. The meeting was closed as a 19 session of the city council pursuant to the Open Meeting Law for the purpose of 20 discussing sale of city property (Legacy property). 21 22 The meeting was recorded and the recording will be maintained in the Office of the City 23 Clerk as required. 24 25 The meeting was adjourned at 9:50 p.m. 26 27 28 29 30 Julianne Bartell, City Clerk Jeff Reinert, Mayor 31 32 CLOSED EDA February 26, 2018 DRAFT 1 1 CITY OF LINO LAKES 2 ECONOMIC DEVELOPMENT AUTHORITY 3 MINUTES 4 CLOSED SESSION 5 6 DATE : February 26, 2018 7 TIME STARTED : 9:03 p.m. 8 TIME ENDED : 9:35 p.m. 9 MEMBERS PRESENT : Council Members Rafferty, Manthey, 10 Maher, Stoesz and Mayor Reinert 11 MEMBERS ABSENT : none 12 13 Staff present: Community Development Director Michael Grochala; Finance Director 14 Sarah Cotton; City Clerk Julie Bartell. 15 16 EDA President Manthey called the meeting to order at 9:03 p.m. in the Council Work 17 Room at Lino Lakes City Hall. Before the meeting was closed, EDA President Manthey 18 read a statement on the purpose of the meeting. The meeting was closed as a session of 19 the Economic Development Authority pursuant to the Open Meeting Law for the purpose 20 of discussing sale of city property (Legacy property). 21 22 The meeting was recorded and the recording will be maintained in the Office of the City 23 Clerk as required. 24 25 The meeting was adjourned at 9:35 p.m. 26 27 28 29 30 Julianne Bartell, City Clerk Jeff Reinert, Mayor 31 32 LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY AGENDA ITEM 3A STAFF ORIGINATOR: Michael Grochala MEETING DATE: February 11, 2019 TOPIC: Consideration of 2019 Annual Appointments VOTE REQUIRED: Simple Majority BACKGROUND The Economic Development Authority (EDA) was established in 1990 pursuant to Minnesota Statutes, Chapter 469. The EDA is governed by a board of commissioners consisting of the City Council. Each year the Economic Development Authority is required by its by-laws to hold an annual meeting and to make a number of appointments. The following is a list of appointments for your consideration: Position 2018 2019 Recommended 1. President Michael Manthey TBD 2. Vice President Melissa Maher TBD 3. Treasurer Dale Stoesz TBD 4. Secretary Community Development Director Community Development Director 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 LMC 4M Fund Wells Fargo Securities Wells Fargo Advisors US Bank RBC Capital Markets Morgan Stanley F&M Bank First Resource Bank Others as needed LMC 4M Fund Wells Fargo Securities Wells Fargo Advisors US Bank RBC Capital Markets Morgan Stanley F&M Bank First Resource Bank Others as needed Position 2018 2019 Recommended 9. Legal Services Kennedy & Graven Ratwick, Roszak & Maloney Kennedy & Graven Rupp, Anderson, Squires & Waldspurger Staff suggests that the appointments of President, Vice President and Treasurer be made in separate motions. The remaining appointments can be made in one motion. RECOMMENDATION Staff is recommending Board prerogative or as recommended. ATTACHMENTS 1. Past appointments 2013 - 2018 EDA Advisory Board (2013-2018) 2013 • President – Dave Roeser • Vice President – Jeff O'Donnell • Treasurer – Dale Stoesz • Secretary – Economic Development Coordinator • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, Merrill Lynch, RBC Capital Markets, Morgan Stanley, Sterne, Agee & Leach, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Barna, Guzy & Steffan, Ltd., Ratwik, Roszak & Maloney, Deck, Duea & Olson 2014 • President – Dave Roeser • Vice President – Dale Stoesz • Treasurer – William Kusterman • Secretary – Community Development Director • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, Merrill Lynch, RBC Capital Markets, Morgan Stanley, Sterne, Agee & Leach, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Barna, Guzy & Steffan, Ltd., Ratwik, Roszak & Maloney, Deck, Duea & Olson 2015 • President – Dave Roeser • Vice President – Dale Stoez • Treasurer – William Kusterman • Secretary – Community Development Director • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, Merrill Lynch, RBC Capital Markets, Morgan Stanley, Sterne, Agee & Leach, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Ratwik, Roszak & Maloney 2016 • President – William Kusterman • Vice President – Rob Rafferty • Treasurer – Michael Manthey • Secretary – Community Development Director • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, Merrill Lynch, RBC Capital Markets, Morgan Stanley, Sterne, Agee & Leach, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Ratwik, Roszak & Maloney 2017 • President – Rob Rafferty • Vice President – Michael Manthey • Treasurer – Melissa Maher • Secretary – Community Development Director • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, RBC Capital Markets, Morgan Stanley, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Ratwik, Roszak & Maloney 2018 • President – Michael Manthey • Vice President – Melissa Maher • Treasurer – Dale Stoesz • Secretary – Community Development Director • Assistant Treasurer – Finance Director • Executive Director – City Administrator • Official Newspaper – Quad Community Press • Legal Depositories – LMC 4M Fund, Wells Fargo Securities, Wells Fargo Advisors, US Bank, RBC Capital Markets, Morgan Stanley, F&M Bank, First Resource Bank, Others as needed • Legal Services – Kennedy & Graven, Ratwik, Roszak & Maloney LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY AGENDA ITEM 3B STAFF ORIGINATOR: Michael Grochala MEETING DATE: February 11, 2019 TOPIC: 2018 Annual Report VOTE REQUIRED: 3/5 BACKGROUND Each year staff is required to provide a recap of the prior year activities undertaken by the board. In 2018, the EDA undertook the following activities: 1. Approved assignment of contract for private development and TIF note related to the Distributions Alternatives project Overall, the City saw a substantial increase in development activity in 2018. 162 new residential permits were issued in 2018. Total building permit valuation was approximately $52 million. Staff is also reporting that no modifications to the EDA enabling resolution are needed or proposed. RECOMMENDATION Staff is recommending that the EDA accept the report. ATTACHMENTS None.