01-29-1998 - Laserfiche WebLink

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B. Consideration of Proposal for Tax Increment Assistance for Development of a Hotel/Conference Center Community Development Director Jopke explained that this item was not yet ready for EDC action. The project involves construction of a 185 room hotel and a 11,500 square foot banquet center onto the existing Mermaid Supper Club facility. Jopke stated that various details of the project are still being refined and negotiated. Jopke mentioned that he is in the process of getting proposals from two relocation consultants to assist the City with the acquisition of parcels and the relocation existing businesses. C. Consideration of Proposal for Tax Increment Financing for Silverview Estates This project involves the construction of a Holiday station store, two office buildings and a senior housing project at the intersaction of Silver Lake Road and Highway 10. Jopke stated that the citys financial consultant is reviewing the tax increment generated and the financial needs of each component of the project. D. Update on Design Theme Community Development Director Jopke reported that the citys consultant, Hoisington Koegler Group, had conducted the first of two workshops concerning the creation of a design theme for the Highway 10 corridor. 12 of the 28 people invited attended. Jopke added that the consultant led the the group through an exercize to identify important historical themes in Mounds View which could be incorporated into a design theme for Highway 10. The consultant also showed the group various design elements which have been used in other areas. E. Discussion of Items to be Included in the Update of the Economic Development Plan The Commission reviewed varius elements which could be included in an updated Economic Development Plan. The Economic Development Plan will be incorporated into the Citys Comprehensive Plan. Discussion focused on chages that could be made to the business loan program to make it more effective. Suggested changes included: 1. Make both new and existing businesses eligible for the program. 2. Clarify that home-based businesses are not eligible for the program. 3. Clarify that the applicant must meet bank eligibility and underwriting criteria. 4. Add language to require that the activities should provide a direct visible overall benefit to the City. 5. Add language that the City reserves the right to to evaluate the credit-worthiness of the applicant and whether the proposed activities would meet the Citys goals for the program. In addition to the above changes staff will discuss with the city attorney whether equal opportunity and non-discriminatory language as well as language concerning tax increment eligibility should be added. Staff will draft proposed changes for EDC consideration at a future meeting.