06-19-2012 CCM - Laserfiche WebLink

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LAKE ELMO CITY COUNCIL MINUTES JUNE 19, 2012 Page 5 of 7 Paul Donna explained that in many cities the EDA is a tool to negotiate contracts, and develop financing options for private developments. He provided an example of one city in the Mankato area where the EDA constructed an “incubator building” to attract small and start-up businesses that could grow to the benefit of the city. Mayor Johnston inquired whether how Lake Elmo’s past interaction with Greater MSP could have been better served if the City had an EDA in place. City Administrator Zuleger responded an EDA would be useful when partnering with current businesses and landowners on the I-94 Corridor in creating a Business Park, and explained we could use it in structuring development agreements. City Attorney Snyder stated a case recently where property was proposed for sale to the City and the City was interested in developing the property. The purchase could be handled by an EDA and the EDA can structure the transaction and resulting development how as the City wishes. City Administrator Zuleger explained staff was looking for feedback from council on EDA structure, membership, limitation of powers, etc., and reminded Council it was their number one objective from the Council/Staff Strategic Planning retreat. Council Member Pearson voiced his general support for an EDA, and asked the difference between an Economic Development Authority (EDA) and Economic Development Committee (EDC). Administrator Zuleger stated the EDA has authority and powers that the EDC would not. He stated the EDA can operate under parameters of negotiation set by Council, and the EDA could save much time for the City Council in times of growth, and he considers an EDA to be a safety net for the Council. Council Member Park suggested the City Council be involved in interviewing members of the EDA and have some involvement on the EDA. Mayor Johnston suggested Council provide staff direction in the next week so staff could begin drafting a starting point on creating an EDA. Administrator Zuleger advised the Council that the staff had a template for the ordinance to create an EDA in which the Council could insert its desired options for structure, board composition, and powers of the EDA as well as those reserved for the City Council. Council Member Smith supported the direction of creating an EDA and stated the City should move forward on this in order to move the City in a forward direction. Council Member Emmons stated he would support that. Mayor Johnston stated we could revisit the subject after feedback is received by staff and reconvene at the workshop in July. SUMMARY REPORTS AND ANNOUNCEMENTS Council Member Park had nothing to report.