HomeMy WebLinkAbout07/02/2019 EDAC Minutes
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CITY OF LINO LAKES
ECONOMIC DEVELOPMENT
ADVISORY COMMITTEE
MINUTES
DATE: July 2, 2019
MEMBERS PRESENT: Jim Schueller, Andrew Cravero, Patrick Kohler, Don Johnson, Chad
Wagner
MEMBERS ABSENT: Michael Ruhland, Thomas Colgan, Julie Jeffrey-Schwartz, Nathan
Vojtech
OTHERS PRESENT: Mikaela Huot, Mike Grochala, Mara Strand
APPROVAL OF MINUTES
It was moved by Mr. Cravero to approve the minutes from May 2, 2019. The motion was
seconded by Mr. Wagner, passing unanimously.
DISCUSSION ITEMS
A. Lyngblomsten Tax Increment Financing Request
Michael Grochala, Community Development Director, welcomed Mikaela Huot, Baker
Tilly, and introduced the discussion item.
Mr. Wagner has a conflict of interest and will not take part in the conversation.
Ms. Huot and Mr. Grochala presented the staff report.
Mr. Kohler asked what 50% is of the area median income. Payable 2019 is $100,000; half is
$50,000. Most retired seniors technically qualify as it is based on annual income, not assets.
Scenarios that may reduce the term of the TIF districts were presented.
Next steps –
7/8/2019: City Council is holding a public hearing to consider adopting TIF plan and
TIF district, possible EDA meeting to review the terms of the contract.
7/22/2019: EDA meeting to review the TIF plan and TIF district, contingent on City
Council’s action on 7/8/2019. EDA to consider adopting resolution that would
approve the contract for private development.
Mr. Cravero asked if there have been conversations with Lyngblomsten regarding the
adjusted numbers. Staff confirmed they have had discussions with Lyngblomsten.
Mr. Grochala reviewed Willow Ponds history regarding TIF Housing district 1-5 which has
been around for a while.
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Mr. Grochala reviewed the additional improvements that are happening concurrently with
the development.
Mr. Kohler asked how much tax revenue will be lost when the commercial area redevelops.
Staff estimated the existing taxes payable total approximately $15,000. The City
anticipating development will double the minimum value.
Mr. Schueller made a MOTION to approve the Lyngblomsten Tax Increment Financing
Request. Motion carried 4-0. Abstained by Mr. Wagner.
B. Projects Updates
Minnesota Technology Corridor launched a week ago and an article was published in the
Star Tribune.
Love To Grow On had their soft opening on July 1, 2019.
All Seasons Rental is under construction.
Watermark will have pavement down by the third week in July. The second phase was
recently submitted.
Natures Refuge final plat has been submitted.
Main Street Shoppes 2nd Addition is under construction.
Eastside Villas is a development with 35 villas going in east of NorthPointe.
Conversations regarding the interchange at County Road J and Centerville Road are on
going.
ADJOURNMENT
The meeting was adjourned at 8:57 A.M.