HomeMy WebLinkAbout02-10-25 - EDA MinutesCITY OF LINO LAKES
ECONOMIC DEVELOPMENT AUTHORITY
MEETING MINUTES
DATE: February 10, 2025
TIME STARTED: 7:11 PM
TIME ENDED: 7:17 PM
EDA MEMBERS PRESENT: President Stoesz, Vice President Lyden, Treasurer Ruhland,
EDA Member Rafferty and Cavegn
STAFF PRESENT: EDA Executive Director Dave Pecchia, Community
Development Director Michael Grochala, and EDA
Secretary Roberta Colotti
1. CALL TO ORDER AND ROLL CALL
EDA President Stoesz called the meeting to order at 7:11 PM.
All members were present.
2. CONSIDERATION OF AUGUST 5, 2024, MEETING MINUTES
Motion to approve the August 5, 2024 meeting minutes as presented.
RESULT: CARRIED [UNANIMOUS]
MOVER: Lyden
SECONDER: Rafferty
AYES: Stoesz, Lyden, Ruhland, Rafferty and Cavegn.
3. 2025 ANNUAL APPOINTMENTS
Motion to appoint the following offices for 2025 and until a successor is appointed:
1. President
Chris Lyden
2. Vice President
Mike Ruhland
3. Treasurer
Tony Cavegn
4. Secretary
City Clerk
5. Assistant Treasurer
Finance Director
6. Executive Director
City Administrator
7. Official Newspaper
Quad Community Press
8. Legal Depositories
First Resource Bank
LMC 4M Fund
PMA Financial Networks
PMA Securities
Moreton Capital Markets
US Bank
9. Legal Services
Kennedy & Graven,
Squires, Waldspurger, & Mace,
P.A.
10. Financial Advisor
Ehlers
RESULT: CARRIED [UNANIMOUS]
MOVER: Rafferty
SECONDER: Cavegn
AYES: Stoesz, Lyden, Ruhland, Rafferty and Cavegn.
4. 2024 ANNUAL REPORT
The Community Development Director stated that each year staff is required to provide a
recap of the prior year activities undertaken by the board. In 2024, the EDA undertook
the following development activities.
1. Approved the acquisition of tax forfeit property in the Apollo Business Park (PIN
18-31-22-41-0011).
Overall, the City continued to see development activity in 2024. In 2024 new residential
construction permits totaled 124. This is a slight increase over 2023 but substantially
under projected growth. Total building permit valuation increased from $57,600,000 in
2023 to approximately $75,600,000 in 2024.
Commercial activity included the opening of Culvers, Milestones Learning Center,
Heartland Dental, and Starbucks. Approximately 76,000 square feet of industrial space
was added including Figi Cube, Lino Tech Center, and Sterling Plastics.
The City entered into a purchase agreement with Java Companies, to sell approximately
2.0 acres of City property adjacent to Lake and 77th Street. This is part of a multi -property
redevelopment project that includes the realignment of 77th Street to the Market Place
Drive intersection. The project, including three new buildings, was approved in
November. Closing is anticipated this fall.
Staff is also reporting that no modifications to the EDA enabling resolution are needed or
proposed.
Motion to accept the 2024 Annual Report as presented.
RESULT:
CARRIED [UNANIMOUS]
MOVER:
Rafferty
SECONDER:
Ruhland
AYES:
Stoesz, Lyden, Ruhland, Rafferty and Cavegn.
5. ADJOURN
A. Motion to adjourn the meeting.
RESULT:
CARRIED [UNANIMOUS]
MOVER:
Cavegn
SECONDER:
Ruhland
AYES:
Stoesz, Lyden, Ruhland, Rafferty and Cavegn.
The meeting was adjourned at 7:17 PM.
These minutes were approved at the January 26, 2026 ED e
ris Lyde EDA President
Attest:
Roberta Colotti, EDA Secretary