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Home My WebLink About06/05/2014 EDAC Packet AGENDA Economic Development Advisory Committee Thursday, June 5, 2014 Community Room 8:00 A.M. 1. Roll Call 2. Approve Minutes of April 3, 2014 3. 5 Year Strategic Plan discussion, Kirstin Barsness, Barsness Consulting Services 4. Adjournment 12/5/2013 EDAC DRAFT MINUTES 1 CITY OF LINO LAKES ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES DATE: April 3, 2014 MEMBERS PRESENT: Lou Masonick, Chad Wagner, Don Johnson, Rebecca Glewwe, Nathan Vojtech, Thomas Colgan MEMBERS ABSENT: Matt Kassner, Julie Schwartz, Tami Wier OTHERS PRESENT: Kirsten Barsness, Jenn Russell APPROVAL OF MINUTES It was moved by C. Wagner to approve the minutes of March 6, 2014. The motion was seconded by T. Colgan and passed unanimously. 5 YEAR STRATEGIC PLAN DISCUSSION Kirsten Barsness from Barsness Consulting Services continued the conversation with the group regarding the three areas of opportunity which include the 35W/Lake Drive Interchange area, 35E/Main Street Interchange area and the County Highway 49 and County Road J area. The group summarized the areas needs and opportunities and began to prioritize projects that they would like the group to focus their efforts on. PROJECT UPDATES No items were discussed. ADJOURNMENT The meeting was adjourned at 9:05. ECONOMIC DEVELOPMENT ADVISORY COMMITTEE AGENDA ITEM 3 STAFF ORIGINATOR: Michael Grochala EDAC MEETING DATE: June 5, 2014 DISCUSSION TOPIC: 5 year Strategic Plan Discussion BACKGROUND At the April 3, 2014 Kirsten Barsness of Barsness Consulting led the group through a discussion to identify areas of opportunity within the city. Additionally the group discussed priorities and strategic objectives for each of the opportunity areas. From this discussion Mr. Barsness has prepared a draft plan for EDAC’s review and consideration. Mr. Barsness will be present to discuss the plan. REQUESTED BOARD DIRECTION Discuss plan and recommend its adoption. ATTACHMENTS 1. Draft Lino Lakes Economic Development Plan ECONOMIC DEVELOPMENT ADVISORY COMMISSION June 2014 Lino Lakes ECONOMIC DEVELOPMENT PLAN 1 Lino Lakes | 6/1/2014 Lino Lakes ECONOMIC DEVELOPMENT PLAN Background In a series of meetings the Economic Development Advisory Commission (EDAC) evaluated the potential of four different areas for economic growth within the City of Lino Lakes. The areas represented the various types of development currently facing the community: housing, commercial, industrial and redevelopment. EDAC’s charge was to prioritize the opportunities based on a review of each area’s positive aspects and potential challenges. The four Areas of Opportunity that were assessed included: Development and implementation of a Business Retention and Expansion Program The Legacy Site located at Interstate 35 and Lake Drive Redevelopment of the intersection of County Road 49 (Hodgson) and County Road J The Commercial and Industrial Corridor along Interstate 35E and County Road 14 EDAC recognizes that the City needs to be flexib le and responsive to the market place. This document represents a guide and framework for prioritizing the City’s economic development efforts. When opportunities for development occur, Lino Lakes will respond in a manner that will facilitate the best outcome for the community. This work plan focuses actions to facilitate economic growth in the Areas of Opportunity. The document lays out the priorities identified and approved by the EDAC. It is the intent to amend and update the document as needed to be reflective of progress. 2 Lino Lakes | 6/1/2014 Priority One - Business Retention and Expansion Summary Retention and expansion of key businesses is an important strategy in promoting continued economic growth. It is an avenue by which communities promote reinvestment and facilitate employment growth. By establishing a formal Business Retention and Expansion (BRE) Program, Lino Lakes can enhance its relationship with key existing businesses. The BRE is an avenue to gather information about local business activity, anticipate changes in a company’s status, and work to retain the businesses that provide the greatest positive economic impact. EDAC identified business retention as the highest priority for the City’s economic development efforts. The Commission noted that of all activities, there is the greatest level of local control and decision making associated with the development and implementation of a BRE Program. A linkage between the growth of businesses in the Apollo Business Park and vacant land along the Interstate 35E Corridor is an important one for the City. KEY Actions Determine framework for Business Retention and Expansion Program  Evaluate different outreach methodologies: general vs. targeted  Identify desired program outcomes  Discuss role of City Council, EDAC and staff  Structure program including necessary outreach tools such as survey; newsletters; email blasts, etc. Generate accurate business listing utilizing multiple sources both internal and external Examine list and categorize businesses to determine possible industry clusters, emerging markets and key business targets Identify economic development tools available for local business expansion Coordinate with other economic development organizations that have an interest in retention and source potential resources for both program marketing and financial assistance for the businesses 3 Lino Lakes | 6/1/2014 Priority Two - The Legacy Site Summary The site is located at Interstate 35W and Lake Drive. Recently, the City was granted land control though special legislation, allowing for greater authority in determining the type and timing of development. EDAC recognizes that the private market will prescribe the ultimate development scenario; however there are key elements which are within the City’s sphere of influence. Lino Lakes ability to be flexible both on land sale pricing and type of development, plus the potential to assist with financing gaps will ultimately assist in the facilitation of a development plan that meets the City’ goals. Blocks define the development tracts. They are identified utilizing the names: Neighborhood Block, Town Square Block, and Urban Block. Each Block can be considered its own, stand alone, development site or all the blocks can be developed by a single master developer. KEY Actions Complete an analysis to determine land pricing scenarios which will ensure the optimal outcome for the city’s costs recovery of the site assessments. Refine City financial strategy for the overall site and if needed specific Blocks Evaluate the benefit of a single Master Developer versus the City acting as Master.  Ascertain the level of interest through a Req uest for Information for overall site:  Assess interest of commercial and housing developers  Evaluate financial implications of various scenarios and impact on overall site development  Re-visit development companies that had an interest in the past  Consider revising PUD to be reflective of City vision  Research and meet with potential developers to determine level of interest and type of development the market can support.  Evaluate financial implications of alternative development scenarios 4 Lino Lakes | 6/1/2014 Priority Three –County Road 49 and County Road J Summary Redevelopment of this intersection has a number of community benefits. Suited toward smaller scale neighborhood development, the site is located at the southern gateway to Lino Lakes. Positive aspects to the redevelopment include the elimination of blight, addition of new goods and services, and increased tax base. Challenges include the collaboration of multiple cities and counties, infrastructure construction and lower densities that surround the area. The site has been highlighted in past Lino Lakes’ economic development plans. Recently, neighboring Shoreview has studied the area for redevelopment potential as part of a transitional corridor study. Collaboration with Shoreview is critical to effectively r edevelop the area. Additionally, there are outside financial resources that can be researched and grant funds sought to help facilitate investigation, acquisition and site improvements. KEY Actions Evaluate a proactive or reactive approach to development  Proactive- approach past potential developer; engage discussions with potential new smaller scale developers  Reactive – respond when interest in made by private sector Research pre-planning grants from the met Council and Deed Prepare necessary documentation for infrastructure improvements and analyze level of private investment needed to consider City participation through tax increment Coordinate the City of Shoreview when developer interest and a redevelopment project emerge 5 Lino Lakes | 6/1/2014 Priority Four –Interstate 35E and County Road 14 Corridor Summary Development in this area will be predominantly market driven. The construction of the Park and Ride in conjunction with the proposed housing development opens up commercial opportunities. Industrial development in the area will occur more slowly due to inactive land owner participation. Key to future development will be dependent on the build to suit market; speculative development is unlikely to occur due to adjacent lower densities. EDAC considered the commercial development more attainable in the nearer future than the industrial market. Lino Lakes can create a marketing strategy to attract attention to the sites development potential. KEY Actions Evaluate the potential for commercial development on the site adjacent to proposed housing development  Meet with property owner(s) to establish an agreement for land value  Solicit feedback from potential developers and engage in project planning Industrial activities  Maintain inventories, contacts and pricing on industrial properties for inquiry responses  Generate marketing piece  Continue responding to DEED and Greater MSP requests for information  Developer email blast that provides updates on Lino Lakes projects