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09-26-1996
CCL_U Cha4440 • 12e.• adLcAQ ECONOMIC DEVELOPMENT COMMISSION DRAFT AGENDA SEPTEMBER 26, 1996 7:30 A.M. MOUNDS VIEW CITY HALL CONFERENCE ROOM C 1. CALL TO ORDER 7 . P.M. 2. ROLL CALL (Present = P, Absent = A) Carlson / Schmidt vt Goff s elsch `' / Nelson Ter ark Sjoberg Hankner (EDA Liaison) v' Bennett (Staff) 3. APPROVE EDC MINUTES August 22, 1996 Action: Motion i-& Second Vote G 0,14ri0--rl-Q_03.. 4. SPECIAL BUSINESS No Special Business 5. EDC BUSINESS A. Consideration of Draft Recommendations for Improved Communication Between EDC and EDA Action: Motion Second ►2S Vote Comments: B. Consideration of Draft Request for Proposal for Professional Services o ..4c-e. Action: Motion C C U Seconds Vote , Comments: C. Consideration of Loan Request from Addie Lane Floral Action: Motion pP Second Vote — 1 Comments: D. Discussion of Sample Tax Increment Financing Application/Guidelines for Analysis of Tax Increment Assistance (Tentative) • Comments: tiL C I 5 6. Report of Commissioners, Staff and EDA Liaison �j (1-) 7. ADJOURN P.M. Next Meeting October 24, 1996 s�U `7 C%ey- •• ECONOMIC DEVELOPMENT COMMISSION DRAFT AGENDA 111 SEPTEMBER 26, 1996 7:30 A.M. MOUNDS VIEW CITY HALL CONFERENCE ROOM C 1. CALL TO ORDER P.M. 2. ROLL CALL (Present = P, Absent = A) Carlson Schmidt Goff Welsch Nelson Terhark Sjoberg Hankner (EDA Liaison) Bennett (Staff) 3. APPROVE EDC MINUTES August 22, 1996 Action: Motion Second Vote 4. SPECIAL BUSINESS No Special Business 5. EDC BUSINESS A. Consideration of Draft Recommendations for Improved Communication Between EDC and EDA Action: Motion Second Vote Comments: • B. Consideration of Draft Request for Proposal for Professional Services Action: Motion • Second Vote Comments: C. Consideration of Loan Request from Addie Lane Floral Action: Motion Second Vote Comments: D. Discussion of Sample Tax Increment Financing Application/Guidelines for Analysis of Tax Increment Assistance (Tentative) Comments: 6. Report of Commissioners, Staff and EDA Liaison 7. ADJOURN P.M. Next Meeting October 24, 1996 • Minutes of the Economic Development Commission City of Mounds View 4110 Ramsey County, Minnesota Regular Meeting • August 22, 1996 UNAppflovEDCity of Mounds View, Council Chambers2401 Highway 10, Mounds View, MN 55112 1. Call to Order: The meeting was called to order at 6:09 p.m. by Chairperson, Dan Nelson. 2. Roll Call: Members present were as follows: Cindy Carlson, Rosemary Goff, Dan Nelson, Brian Sjoberg. Ron Schmidt is on leave of absence. Members Delane Welsch and Bev Terhark and EDA Liaison Sue Hankner and Alternate Liaison Gary Quick were absent. Economic Development Coordinator Cathy Bennett was present. 3. Approval Of Minutes: Motion/Second: Goff/Sjoberg moved approval of Minutes of May 30, 1996 Meeting. • Motion Carried 4 ayes 0 nays 4. Special Business Coordinator Bennett noted that the EDC loan committee, comprised of at least 4 members (Dan Nelson, Cindy Carlson, Bev Tarhark and Rosemary Goff), met to discuss a loan request from Mounds View Fina located on County Road I. Member Carlson explained that the committee reviewed the application and financial information to make sure the request fit into the goals of the program. The loan will be used to enhance the gas station operation. The loan committee recommended the approval of the loan which was formally approved by the EDA on August 12, 1996. 5. A. Discussion of EDC's Advisory Responsibilities and Procedures for Communication Between the EDC and EDA Coordinator Bennett explained that EDC members were able to attend other EDC meetings over the past month to evaluate how communication and discussion flowed between the advisory group and EDA/Council's. Coordinator Bennett explained that she attended the Coon Rapids EDC where discussion focused on the distribution of CDBG funds that are allocated to the City. The EDC makes recommendations to the EDA where they are formally approved. • 1 Other topics they discussed included recommending participation in civic and membership groups. Member Carlson attended the New Brighton EDC meeting which has been in existence for about 10 years. There are two Council members which are members of the EDC which shows a strong linkage and communication tie between the two entities. Most all development projects go through the EDC first for evaluation. They are involved in the strategic planning sessions with the Council on economic development. Member Sjoberg attended the Arden Hills EDC which has been meeting for approximately 3 years. The group is very project specific. They view their role more as staff to the EDA/Council. A project is given to them and they bring back a recommendation on how to approve verses bringing options for the EDC/Council to choose. There is strong Council representation and a report is given on major Council activities to improve communication. Member Welsch attended the Crystal EDC meeting. He was unable to attend this meeting therefore forwarded his comments in writing (see attached). After discussion, the EDC directed staff to incorporate the following items into recommendations for communication between the EDC\EDA for review at the next meeting. Strong EDA interaction is a must. A report should be given at every EDC meeting on the key activities at the EDA level. Develop a sequence of review for (re)development projects. Develop a system of communication between other commissions. Hold a joint meeting, accompanied by a tour of the City, every year with the EDA. Possibly eliminating the work session at the EDA\Council level will allow the . Council members more time and commitment to attend commission meetings where background discussion on items can take place. el B. Update on Housing Program and Discuss Ways to Market the Program Under the Guidelines of the Program. Coordinator Bennett noted this was an item that was tabled in May. Bennett explained the basic parameters of the housing program and reported that the EDA has already purchased its first house as part of the program. Since there is a variety of expertise on the EDC, coordinator Bennett asked for ideas regarding marketing the program to the community without actually calling up a homeowner who's house could be a candidate. EDC members came up with the following ideas: Educate representatives of HUD; Invite local Realtors to a meeting to discuss the program;Advertise in the local paper; Send direct mail to residents and break it up into sections of the City that should be focused on first. Coordinator Bennett will pass these ideas along to the Mounds View Housing Coordinator to incorporate into her marketing plans for the housing program. C. Review EDA's Priorities for Highway 10 and Identify Strategies for Redevelopment in these Priority Areas Coordinator Bennett gave an overview of the three redevelopment priority areas along Highway 10. Several requests for development of 2625 Highway 10 have been presented to III City staff. In addition, the owner of property next to the Silver Lake Pointe Apts. is interested in marketing his site for development These properties are in Priority Area No. 3,which is from County Road I to Silver Lake Road. Coordinator Bennett explained that there are many issues that need to be taken into consideration such as access to the sites, market demand for • uses, wetland and drainage issues, compatibility with residential uses, zoning restrictions etc. prior to evaluating what type of assistance or role the City would play in planning the development for this area. Coordinator Carlson suggested that the EDC develop a request for proposal for the area. The RFP should include studying the area to address the issues mentioned and draft plans be put together for what types of development would be most beneficial to the City in terms of tax base, jobs and aesthetics. Motion/Second: Carlson/Sjoberg moved to request approval from the EDA to develop a RFP and interview candidates to study Priority Area No. 3 (Section 9) of the Proposed Draft Highway 10 Redevelopment Plan Motion Carried 4 ayes 0 nays D. Discuss and Review Revised Tax Increment Policy Coordinator Bennett discussed changes to the draft tax increment policy taking into consideration the recommendations from tax increment consultants from Briggs &Morgan, Casserly Molzan and Associates and Kennedy&Gravin. It was suggested that the point system be used only as a tool for the EDC but should not be considered a procedure to determine the amount of tax increment. In addition, it was recommended that the point system be reevaluated to address redevelopment vs. new development. Chair Nelson sur•ested that staff bring back an example of a redevelopment project that could be plugged into the point system. E. Discussion of Everest Proposal for TIF Assistance Coordinator Bennett noted that since there was not a quorum at the July meeting that Everest requested that they present their proposal to the EDA for consideration. Staff is still evaluating the proposal and has requested additional information from Everest before further negotiations take place. Motion/Second: Goff/Carlson moved to table this item until further information is received by staff. Motion Carried 4 ayes 0 nays Reports From Chair, Commissioners and Staff: Chairman Nelson suggested that the next EDC meeting be held at 7:30 a.m. instead of in the evening. This may be a more convenient time for the members to attend meetings since may times he gets stuck at work in the evening but usually can arrange to be a little late. Motion/Second: Nelson/Sjoberg moved to hold the September 26, 1996 meeting at 7:30 am instead of 6:00 pm if this time is more convenient for the majority of the Commission Motion Carried 4 ayes 0 nays • 7. Adjournment There beingno further business before the Commission, this meetingof the Economic Development P Commission adjourned at 8:20 p.m. Respectfully Submitted, OPOLV )2,4\A'\.LJC - Economic Development Coordinator uNAppflovil:.„, o • 41110 4 August 14, 1996 . Kathy Bennett crys6. RE: My Visit to the Fre . EDC on 8/13/96 • I was most warmly welcomed and treated royally. We have a standing invitation to visit again. What I saw there that I suggest we try: 1. Council liasion person starts the business meeting (after minutes) with a briefing on actions the EDA has taken, What future issues the EDA sees coming up, What the EDA is thinking about, and what the EDA wants the EDC• to work on. Very helpful. 2. EDC has ten members. Two seats are reserved for members of the Planning Commission. Two seats are reserved for Senior Citizens. Four seats are homeowners allocated by precinct. Two seats are allocated to business persons. 3. The whole council and the whole EDC (therefore effectively the EDC and the EDA) take a bus trip together once per year, during which they visit ALL of the sites of interest to EDC/EDA. Takes about 2+ hrs. They currently have 20 sites "of interest), with several categories of urgency. At each EDC meeting, the staff support person gives the current status of each site, and thus all members have a picture in their mind's eye of the site. 4. The EDC & the EDA meet jointly several times per year. 5. The "Star City" process has been an excellent vehicle to build the EDC. Each member takes responsibility, and visits businesses each year, as well as working on other "star city" requirements. This EDC had a lot of frustrations in the past, when the council did not seem to listen to the EDC, or acted before the EDC conidered an issue. But after setting up a "new" structure (the present structure), frustrations are a lot less. I also got the impression, but it is only an impression, that some EDC members carry out assignments between EDC meetings, which are the second Tuesday of each month . /2/ • Staff Memo To: Economic Development Commission Members From: Cathy Bennett, Economic Development Coordinator Date: September 20, 1996 Subject: Consideration of Draft Recommendations for Improved (5.A.) Communication Between EDC and EDA Per direction and through the discussions of members at the August meeting, I have prepared recommendations for improved communication between the EDC and EDA. I tried to incorporate all the ideas that were generated through visits to other EDC meetings throughout the North Metro. In addition, is a review procedure for EDA assisted development projects. This can be used as a guideline for staff, commissions and the Council\EDA. We could try and narrow down the scope 0 of what types of projects should go the EDC (just commercial or should we include housing and mixed use projects as well?) If the EDC approves the recommendations and development process then a discussion with the EDA could take place at the EDA work session on September 30th. III Recommendations for Improved Communication Between Economic Development Commission and Economic Development P p Authority Prepared by the Economic Development Commission September 1996 • Strong EDA Liaison Attendance at Meetings • Include Update on EDA/Council Business as a Regular Agenda Item • Follow a Review Process for EDA-Assisted Redevelopment and Development Projects and Issues which Impact the Business Community (Attachment A) • Exchange Minutes and Agendas Between the EDA, EDC, Planning Commission and Parks and Recreation Commission • Encourage Input from Other Commissions • Hold an Annual Strategy Meeting with the EDA • Annually Tour Development/Redevelopment Sites with the EDA Members • Eliminate the EDA\ Council Work Sessions and Substitute Time Commitment by Attending More Commission Meetings Where Background Discussion on Items are Discussed. DR T DATE S ATTACHMENT A PROPOSED REVIEW PROCESS FOR EDA-ASSISTED(RE)DEVELOPMENT PROJECTS • STAFF • prepare preliminary project proposal • ensure proposal is within the broad scope of goals for the City • communicate with EDA through This Is It regarding the proposed project ECONOMIC DEVELOPMENT COMMISSION • review project concept for consistency with long-term redevelopment plans and other development priorities • review proposed project costs,positive and negative impacts to the community and company financial\market stability • • recommend forwarding project for EDA consideration PLANNING COMMISSION • preliminary concept review of proposal with respect to conformance with comprehensive plan and • municipal codes • public hearing on site plan review and other land use procedures • recommend approval/denial of site plan and other land use issues ECONOMIC DEVELOPMENT AUTHORITY • review recommendations from economic development commission • authorize staff to prepare development agreement and analyze costs\level of assistance with financial and bond consultants • review recommendations from planning commission • when appropriate refer back to commissions for review and comment ECONOMIC DEVELOPMENT COMMISSION\PLANNING COMMISSION • staff to update commissions on project progress • further review only if recommended by Economic Development Commission\Council ECONOMIC DEVELOPMENT AUTHORITY\ COUNCIL • • final approval\denial of development agreement • final approval\denial of site plan review and other land use issues 0 Staff Memo To: Economic Development Commission Members From: Cathy Bennett, Economic Development Coordinator Date: September 20, 1996 Subject: Consideration of Draft Request for Proposal for Professional (5.B) Services At the September 9, 1996 meeting, the EDA approved Resolution No. 96-EDA51 Authorizing the Economic Development Commission to Work on a Request for Proposal and Solicit Bids for the Development of a Vision and Schematic Plan for Highway 10 Redevelopment Area, Section 9. I have prepared a draft request for proposal and have included a list of consultants to solicit bid from. Please take time to review the information in the request to • ensure that all the elements we are interested in reviewing are included. If approved, I will mail the RFP's the first week in October to allow 2 weeks for response. I did not include a time of completion in the Review Process Outline. Instead I have requested that the consultants provide us with how long they believe the process will take. 0 RESOLUTION NO. 96-EDA51 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION AUTHORIZING THE ECONOMIC DEVELOPMENT COMMISSION TO WORK ON A REQUEST FOR PROPOSAL AND SOLICIT BIDS FOR THE DEVELOPMENT OF A VISION AND SCHEMATIC PLAN FOR HIGHWAY 10 REDEVELOPMENT AREA, SECTION 9 WHEREAS, the redevelopment of Highway 10 is a priority under the Council/EDA five year Focus 2000 goals; and 'WHEREAS, the Economic Development Authority (EDA) reviewed several sections of Highway 10 and developed three priority area to focus on in 1996, and WHEREAS, Section 9, encompassing properties on both sides of Highway 10 from County Road I to Silver Lake Road, is one of the top three priorities in 1996 for redevelopment, and WHEREAS, the Economic Development Commission (EDC) who acts as an advisory to the EDA have reviewed the area and have requested EDA approval to prepare a request for proposal to consultants for developing a vision and schematic plan for Section 9 of Highway 10; and WHEREAS, recommendations from the EDC for acceptance of a consultant will come back to the EDA for approval in November. NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development Authority hereby authorizing the Economic Development Commission to work on a request for proposal and solicit bide for the development of a vision and schematic plan for redevelopment section 9 of Highway 10. Adopted this 9th day of September, 1996. ATTEST: President (SEAL) Executive Director 41111 DRAFT Draft: September 20, 1996 DATE CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY REQUEST FOR PROPOSAL FOR PROFESSIONAL SERVICES SECTION 9 HIGHWAY 10 REDEVELOPMENT REQUEST: The City of Mounds View's Economic Development Authority (EDA) is seeking proposals from qualified consultants to work with City Staff and the Economic Development Commission to study and prepare a vision and schematic plans for a section of Highway 10 located in the City of Mounds View. GOAL OF STUDY: To develop a coordinated vision and prepare schematic plans for the future development of undeveloped and underdeveloped areas of Highway 10 located between County Road I and Silver Lake Road. It is the City's objective to facilitate well planned development along Highway 10, maximize the tax base of the City and provide a quality aesthetic physical environment while protecting and enhancing the natural environment and surrounding land uses of the area to the extent possible. BACKGROUND: • The City of Mounds View is located 10 miles north of Minneapolis and St. Paul directly west of interstate 35W on Highway 10. Mounds View is in the northwest corner of Ramsey County and is bordered by the communities of New Brighton, Blaine and Spring Lake Park. Mounds View has a population of 13,000 people and has grown from a small sleepy suburb to a bustling community with diverse residential neighborhoods and quality business development. (See Attached Community Profile) Mounds View focused on the development of Mounds View Business Park, Silver Lake Pointe Apartments and the Bridges Technology Center over the past five years. Now that those projects are successfully completed, the City is now committed to focusing on the redevelopment of its main corridor, namely Highway 10. Over several months in 1995, members of the Economic Development Commission, Planning Commission and Parks 8t Recreation Commission met to discuss the redevelopment of Highway 10. A vision statement was developed and approved by the EDA: -Highway 10 in Mounds View is a cohesive planned corridor that provides convenient access for business opportunities and goods, services and hospitality amenities. Highway 10 corridor incorporates a City Center that promotes essential services for its residents and a hub for commuters. Highway 10 is aesthetically pleasing with attractive landscaping, signage, streetscapes and storefronts. Highway 10 is . the local and regional link to the greater Metro Area." 1 DRAFT Draft: September 20, 1996 DATE In addition to developing the vision statement, staff prepared an inventory of properties along the corridor to include address, parcel number, owner, zoning, square feet, acres, dimensions, developed, total assessed value, land value, building value, tax capacity, current use, land condition, building condition, access, parking, buffer, wetland, signage, incompatible use with comprehensive plan, under utilized, blighted, expansion potential and whether the property is currently listed with a broker. Upon completion and evaluation of the inventory list, the group toured metro corridors and decided to create eleven (1 1 ) sections of development along the corridor. Each section was defined and put into a report (Proposed Highway 10 Redevelopment Report)(see attached). In 1996, the EDA evaluated each section and came up with three priories to focus on in the upcoming years. One of the priorities includes section 9 - Mixed Use Development - of which we are requesting further evaluation and study. STUDY AREA: The study area includes approximately 33 acres located on the North and South sides of Highway 10 between County Road I and Silver Lake Road (See attached map). Currently the area consists of a mix of single family residential, multi-family residential, senior housing, small commercial office and vacant underutilized land. Several of the parcels are substandard and are in need of redevelopment. • SCOPE OF STUDY: The scope of the study should include the following in developing a vision and schematic plans. 1. Gather the plans and visions for use of the property from the property and business owners in the study area and surrounding areas. Identify key concerns of the Council and Commissions with regards to this area. 2. Coordinated development potential of the area. What is the impact or constraints on developing the area with regards to the following factors. a. Physical site characteristics b. Market conditions and private development interests c. Infrastructure characteristics - access off Highway 10, layout of streets d. Existing land use patterns - size and dimension of lots, buffer to residential e. Environmental conditions - wetlands 8t drainage f. Traffic Patterns 3. Identify opportunities for funding sources to stimulate a coordinated development. • 2 DRAFT Draft: September 20, 1996 DATE 4. Review Focus 2000 goals, Proposed Highway 10 Redevelopment Reports, Comprehensive Plan, current developer proposals and other documents related to possible coordinated development in the study area. SUBMITTAL, REQUIREMENTS: 1 . Description of firm's expertise and qualifications for the study. 2. Description and location of comparable studies completed or in progress. 3. List of key staff members that would be involved in the study. Include their roles, background and experience. 4. Proposed scope of work. 5. Proposed work schedule to include completion date. 6. Proposed detailed budget to complete the study. 7. Description of final documents completed as part of study. Submit completed proposal no later than October 16, 1996 to: Cathy Bennett Economic Development Coordinator City of Mounds View 2401 Highway 10 Mounds View, MN 55112 612-7843055 612-7843462(faxl REVIEW PROCESS: Submittal Deadline: October 16 EDC Review/Interviews: October 24 Recommended Firm Interviewed by EDA: November 4 EDA Approval of Selected Firm: November 12 Contract Executed: November 18 • 3 N I I I 1 1 I I I - ILLVLW ISI I', n S V /3 Ai 14.1141 E--2D ir B - 3 >, 111, c ARM- c 7 . L 0 : 4 z R - zi. 4 .0 -I '' � - 2 *r N. .....meigllg _..-.111br,. •. U D B - 3 \gioopppr. --i 5edicbs t i th,A1 ii, poposeci Pktil n B - 3 o • 1" :: .00 HIGHWAY 10 CORRIDOR DRAFT PROPOSED REDEVELOPMENT PLAN INTRODUCTION The Highway 10 Corridor Proposal is presented by the highway 10 subcommittee consisting of the following: • Peg Mountin - Economic Development Commission • Gary Stevenson - Planning Commission • Pam Star- Parks & Recreation Commission • Staff: Cathy Bennett, Paul Harrington, Mary Saarion The Highway 10 Committee was directed to present options for the development of the Highway 10 Corridor in Mounds View. The first step in this process was to review how other communities addressed corridor redevelopment. This enabled the committee to take the best strategies from each plan and apply them to Mounds View. The following corridor plans were reviewed. In addition, the committee took a bus tour of several community corridors. • Cedar Avenue - Apple Valley • Highway 13 - Burnsville • Highway 5 - Chanhassen • University Ave - Columbia Heights ip • Edinborough/Centennial Lakes - Edina • Highway 3 - Hopkins • Old Highway 8 - New Brighton • County Road E - Vadnais Heights • Highway 61 - White Bear Lake There were three common elements in each redevelopment,plan that were revealed _ by the committee. • Each plan contained specific designated areas of development. Those areas of development addressed land use, zoning, landscaping, environmental engineering and how the area fit into the entire corridor plan. • The other common element, with the exception of Apple Valley, was thatthey were developed with the assistance of an outside consultant who specializes in, corridorand_downtown,redevelopment plans:and communityconsensus ,,, building. • The final element is that redevelopment is a very slow, costly and risky process that takes strong local leadership_!In addition, there is usually strong resistance to change and not everyone will agree with any plan since there are significant impacts to residents, businesses and traffic. Each City stressed the importance of remembering to keep focused on the big picture! The following is the first attempt at structuring sections of development for the corridor. It made sense to include the section of Mounds View which is along Old Highway 8 in the corridor plan. This section often gets mistaken for New Brighton and it is a very important part of the City that needs attention. 1. REGIA At MANUFACTURING BUSINESSPARk The section is along old highway 8 but has a significant impact on Highway 10, therefore it is proposed to include it in the redevelopment plan. Currently, section one contains an it dustrial:.parj for over 12 businesses. In addition the section includes the Towns Edge Manufactured Home Park, 2-3 single family homes and the Skyline Motel. The section is bordered by New Brighton to the south, I-35W to the east, New Brighton Regional Park to the west and County Road H to the north. Section one isideat for theFeXpansion-of.Mounds:View's"'commercial,base- There is Interstate exposure and easy access to I-35W from both Highway l0 and 95. Mounds View's commercial land is almost entirely developed. There have been many occasions that companies relocate out of the City for the sole reason that there is not enough large lots in the area.. Thts.section:�would be proposed for;manufacturing:operations-that are mediurrr"to light in nature' There are several businesses in the Mounds View business park that may be relocating because they only need a Class B facility for their operations. This section could provide for this type of use. In addition, conversion to commercial use follows New Brighton's development from the south which consists almost entirely of industrial space for use by manufacturing and trucking companies that require some outside storage. The section would be easily buffered from designated residential neighborhoods in Mounds View. 2. 'RECREAT/ONAL'FACIL/T/ES'='COUNTYPROPERTY, WETLANDSA This section of the community includes the area surrounding Rice Creek, which is a part of the Rice Creek Chain of Lakes Regional Trail Corridor. Ramsey County has jurisdiction of the land. Future plans include the development of a Trailhead for canoeing Rice Creek. The canoe corridor will begin in Centerville and continue through Mounds View to the Mississippi River. This Regional Parks and.Recreation'traii corridor.will provide facilities for-fishing,,canoeing, hiking and wildlife observation activities:•'--The trails will connect Anoka and Ramsey County Open Spaces, Long Lake Regional Park in New Brighton and Locke Park in Fridley. Because of it's regional appeal, it is predicted that this recreational facility will generate visitor traffic from users especially from the northern metropolitan suburbs. These visitors can be expected to patronize fast food and restaurants, gas stations, and convenience stores. Old Highway 8 is scheduled for improvements according to Ramsey County's plan. This would be an excellent road for an off-street bicycle trail system connecting residents to the Regional Trail Corridor from a County Road H off- street trail. When Old Highway 8 is improved, an off-street bicycle trail should • be considered. This section is recommended per the TAG plan. 3. C/7 E:NTRANCEE Section three is the first area that a visitor would see if coming off of Interstate 35W. This section should leave a lasting impression on the first time visitor to Mounds View as well as the frequent commuter. In addition, residents can feel good about coming home when they enter the community through the entrance. it is suggested to have a monument sign constructed in this section with quality landscaping as a welcome to the entrance of Mounds View. This area catets to the-visitor_and includes filling stations,fastfood.. restaurfrts convetnience`'storesr.entertairimeritfacilities`and overnight. ac erimodations. The area would be ideal for a major hotel\conference facility due to its convenience and exposure on Interstate 35W. When fully redeveloped the area will tie in nicely with the section 2 recreational area and would draw visitors from farther distances due to the accessibility of accommodations and facilities all in one close proximity. 4. =R ECTONALBUS/NE375TATER Section four consists of Mounds View's Business Park which houses various limited.manuracturing\warehbil a and distribution_facilities;. The 90+ acre corporate business park has a reputation as being visibly pleasing, beautifully landscaped and centrally located. The majority of the businesses distribute their corporate_Products nationallytand.internationally;, These businesses provide employment for over%6001win Cities residents. Of those employees, 8% are from Mounds View with the majority coming from all over the metro area, Chisago County, [sante County and even Western Wisconsin. The business park is currently 90% developed. One remaining parcel is slated for a 118,000 sq.ft building. The remaining land is designated for expansion of existing businesses such as Multi-Tech and C.G. Hill. 5. `BUS%NESSSUPPORT Center: Section five is designated as the service center for the'business Park.and. surrounding commercial areas. This includes an'office complex development housing professional service companies, restaurants, convenience store and car wash. There is at least one vacant lot, zoned commercial, which could accommodate an office building. In addition, there are four single family homes which encompass the entire corner of Woodale and Highway 10. Since commuter traffic is moving at such a high speed in this area and there are no designated turn lanes onto their properties, residential living is not conducive to the development.' Everest Development currently owns each end house and has been trying to negotiate a reasonable sale price for the remaining properties for commercial development. When developing this section, care needs to be taken to property buffer the residential neighborhood on Jeffrey Drive and Greenfield Avenue. 111 6. EDIUI(i LOG1fDENS/TYRESIDENT/AL4 This small section of the Highway 10 corridor is residential and is recommended as:rernainindresidentiaLL These properties do not have direct access to Highway 10. The homes do not face Highway 10 but instead have side properties adjacent to the Highway corridor. It is recommended to add a dense layer of landscaping along the houses that are visible from Highway 10 to buffer it from the traffic. As the entire Highway 10 Corridor developed as planned this section should ber_eevaivatect as to its fit with the surrounding develpments. 7. -CORPORATEWEADOUARTERs°FACIm:',OFFICE COMPLEx' This is the largest section of undeveloped land along Highway 10 and special care needs to be taken to ensure proper and best,_useof.the:property. It is recommended to attract a corporate headquarters`facility or office compleX to the site which would be developed in a campus setting;keeping its natural, wooded atmosphere. There are 24.26 acres in this section. It is estimated that 14.35 of the total acreage is buildable since there is a very large wetland area to the west of the property. The property is owned by an elderly women who wants to ensure that she receives proper compensation for the land. She too would like to see the property developed with the utmost care to keep it as a natural campus type setting incorporating hiking and biking trails for pubic use. 8. CITY CENTER'- a. City Nall and Communtiv Center This area of the Highway 10 corridor is the center of the City - thus City Center. There is no coincidence that this is the location of the City Hall Administration Building which also houses the Police Station. Included on the grounds of City Hall is City Hall Community Park which includes an adult ballfield, youth ballfield, picnicking facilities, twin sand court volleyball courts, soccer field, and pre- school playground equipment. City Hall Park is the location of the annual Festival In the Park, a City celebration. Also located on City Hall Park is a welihouse, water tower water reservoir and Public Works building. Across the street from City Hall Park, including the facilities previously mentioned, is the Bel Rae Ballroom and adjoining undeveloped property. The Bel Rae building is a one story large building. It has a large parking lot and is very accessible to the Highway 10 corridor. The Bel Rae is also very accessible to neighborhoods of Mounds View. The property abutting the Bel Rae is mostly wetland, but it does abut Highway 10 corridor. The owners of the property have been unable to develop the property due to the small amount of buildable space. The owners of both of these properties are willing to sell. b. Local Commercial Services, Located directly in the heart of the Community, section eight (b) - commonly referred to as "City Center" - provides the residents of Mounds View a wide arlety_of retail services tia two existing shopping malls on the north and south • sides of Highway 10. The malls, Silver View Plaza and Mounds View Square, provide the residents of the Community with conveniently available retail services and shops. In addition to serving a local clientele, the malls benefit from their location on Highway 10 and its high number of commuters. However, despite the high traffic numbers, the section suffers somewhat from the lack of adequate access on and off of Highway 10. Experience has shown that commuter traffic is less likely to utilize the services provided by the two malls because of the difficulty in quickly and safely exiting Highway 10. City efforts in this district should focus on attracting additional quality retail services to the two malls, improving the somewhat difficult traffic circulation patterns surrounding the area and, increasing the visibility of the signage for the malls. TtA C sed-um 9. =-1GI/XED=USE DEVELOPMENT (.,� Located immediately west of City Center, section nine currently consists of two very distinct uses located on either side of Highway 10. On the south side of Highway�10, development includes a recently completed 83 Unit senior housing complex;°fast food restaurants and retail and service outlets. The north side of 10 is primarily devoted to multi family housing units. The sections' proximity to City Center lends itself to an integration of the two districts into one "supersection" servicing all retail and service needs in the community. City influence on the area will be most directly felt on the noth;side of Highway 10 • as any long range development of the section will require decisions to be made on the future of the aforementionedr'»ulti-family houting:,units. On the south side of Highway 10, development^of an office building to house medical providers (i a dental, eye, general practitioners) should be given strong consideration. With the development of the senior housing project, the need for these services will only increase. Of the parcels remaining undeveloped in the south half of the section, a large portion are delineated City wetland and present a significant constraint on the ability to develop the area enmasse. When considering developing this area, particular attention should be paid to preservation and maintenance of these existing wetlands as they provide both aesthetic and functional amenities to the Community. 10. LOCAL COMMERCIAL BUS/NESS= Section ten, beginning with the properties immediately west of Silver Lake Road, starts the gradual move from commercial type land usesto that of medium and low density residential, The section includes a number of properties which are legal non-conforming in relation to the established zoning districts. In particular, properties zoned B-3, Highway Commercial are currently being utilized as residential along the south side of Highway 10. The City has an opportunity to redefine the area somewhat in that commercial properties and possibilities do exist. Any development of this area should include adequate buffering - either natural or man-made to minimize the impacts felt by the surrounding residential neighborhood. Specific land uses should be those that provide needed community services. As with all • properties along Highway 10, attraction of commuter traffic as potential customers should be given high priority. 11. MEDIL%FI/Low`DENS/TYRESIDENT/AL Section eleven, located along the westernmost edge of the Community, presents a unique challenge in development due to its geographical proximity to the City of Spring Lake Park. A significant amount of land within the limits of Spring Lake Park impacts the character of the section on the south side of Highway 10. This encroachment directly affects the development of the properties north of 10 in that Spring Lake Parks' plans for development of their property may take a different direction than that of Mounds View. Recent developments in the section have focused on residential projects On the south side of Highway 10, a 22�-unit townhome development Was recently approved and is nearing completion. To the north, development of a 17-lot= singiefarmhihome subdivision will begin in early summer of 1995. As stated earlier, the challenge in planning for section eleven lies in anticipating and participating in the plans for development of the bordering Communities' land. • Pittlituctj I n d -PlatePfal4 r--, rn 8 LAI N E � - !iT'1'11' remeg ^ IMUM' ar- — — — N r�`� �, 2 r Gist=41,-w......c 1� �' �• 1 - 1111 AP AN 0 -! i..." eitromi: .t'�o� ^_ �c t NO SCALE ... ... . N-E _ m ©�®L2 aLRQ Lam. �Mc - , _ - - ..�..-.. ..- - - ®c'm i� - em=,: ,N.-�DiC 1 8 LAI N E W dI �T= .::ili•• Will-.IL+"i.� ®mIE'�Ll ! I ;.,fI es J �k .r n 1 I "`'.�1 .u/ .A~ Willi �m�vOq.i �0.�t ...,.._ L -404111 sUlielan 33I, .'alilal i r :Iili<lii-131. - - ' - nal;IP1 "3IJ,• Z � _7-� .i:. -a �d M MEI I iiia dWM= ra \�'••• w _` ' ccs! '1i _', [! et ,v Qins cm=co= ` ,x toa. pi N a ,, T om,�^- t� II w ; _ cQ,. 1`�; �bb. C 11 c���L7L c� _ "mac�c_,.,6 3 0.`�,r f0' C II ; `=������ o� 1'=. — m- a ^y � .: to I W ..r�L'�!MI= _ I�HItJ�Iait2iLl i I`� a► f �E G��B_ '3 emcana` a i.,AN .. �c coli' =EIEM. S Villi"EI �tl1.19LI_ -r t�-. 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(fi -ai_ .....I�-1 .i,-, ,"fir= C c._ .2 w - - I31 I rs� C r":-@e•_ f :,d Er, N E 'N BRIGHTON F LEGEND ZONING cISTRIL73 ••. ! .I-, SINGLE-FAYIIr RG90gnIAL 3-2 UNITED B TSPIES5 .�i�1.'-�Ii.�� 1 R-2 SINGLE t TWO MANLY MUMMY-L 3-3 1IGIMAY NUM= L;J 0-3 YEDRIY OENSRY RESNENTIAL 3-A REGIONAL MINCES It R-A mem DENSITY RESMEN TAI I-I HOUSIIIAL R-S 1404114NONE _ 0 ; � Pr PUBLIC EAGI3nQ 4-0 RCSIOCNf4t/OFFICE RUO PANNED U1Mr OEYELDRY[NT ...,." 3-, NOGNOORH000 RUSIN= CRP CONSERVANCY.RECREATION t RRESEAVAIIOM 11 I .'`'' 7 i •AREAS NOT 1/.12ELO ARE R-,GISMOS __ ._-.--. r+w.-.-.wr^r,r•w i CITY OF • I UNIMPROVED ROAD III 97a„ N D S 1)0cn,11(11 ( Revisea Jan. 1995 11-7. J, \I,i ZONING M 74 v, 0 0 U Ca 44 0 C:, cux N M O N N . O\ 71- V•1 VD �+ v--. O N O1 r-+ �•. 00 ‹D 7r N Cr) --.• VD v> N Y4 M V1 N N N Ct2 CT z, O\ O1 00 N N M d7 F ' . M N d` O N •-+ .-. O O '--+ N d' kr) .7 O O O 4.) O O\ 00 CT ---• 00 V1 d- M O C N O CN CN -i N N O on O C c.,) 00 V> oo 1p N _ 01 Vl .4 Ai CT rn N 00 VD N N N M `^ /„.;; N • U' 0 � - N o Z a S2 cu _ o � W " O`n cbs. .� ai .� D .� o s. ti o ° O o a 0oszl, :11. o M ,4 C/D ,4 — N W �D C% k!1 C/D kr) r4 M C/) M 4 O Cn 4 d Cl) 4-. cn CC U bA cu Q'° 6., > .° CA V C/Dezt D 1-4 a H0 VI o O Fd E O C7 76 G� CAN .r'. "o :-.4bA O+ O Q C cu 4Ri C� U , O O C/] '" 0 0 O E ten. v� z~ D ct= O to N a) bA U cn il as ca ca a4 U W cx 0 o - .C/) o s., c' ct a •Cl) as _ U U - 0 c •,= c.) O G) o > A s.ct U ti Ca w �., ti ti i� 0 _ _ __ d- N V') t 01 V-) N Q\ O .1- G1 O O vD N N U1 O O kr) G-N N d- N M d d' a) 0 ,N QJ sem.; '"' E___ al vi M .� U a W 1-,ami o kr) a a kr) M O O N O M O cNi Cl) O N r Cl) 0 Cr-) • lil • Staff Memo To: Economic Development Commission Members From: Cathy Bennett, Economic Development Coordinator Date: September 20, 1996 Subject: Consideration of Loan Request from Addie Lane Floral (5.C) Member Cindy Carlson will be presenting a loan request that has been submitted by local business Addie Lane Floral. I believe the request will include funds to add a coffee/bakery aspect to the floral business. Full details will be presented on Thursday. • 4110 • Staff Memo To: Economic Development Commission Members From: Cathy Bennett, Economic Development Coordinator Date: September 20, 1996 Subject: Discussion of Sample Tax Increment Financing Application and (5.D.) Review of Guidelines for the Analysis of the Sample Application At the August meeting it was suggested that staff prepare an example of a project to evaluate the proposed tax increment policy that was prepared by the EDC. I have included an application for a new commercial development. If time permits, we can go through and assign points through the Guidelines for Analysis of TIF Assistance Form. Each 0 member may want to complete the form prior to the meeting so that we can discuss differences in interpretation. I would also like to evaluate a housing project and a redevelopment project for comparison at a later date. 0 CITY OF MOUNDS VIEW DRAFT APPLICATION FOR TAX INCREMENT FINANCING PROJECT: III 1. Business Name: OZYWpaiikil )0/.7-- Address: 1 ZAddress: X y-z_ 5}Ye_ Telephone #: X y - — 555r— Contact: ` irllr, X 2. Brief Description of the Business. (Please provide # of years in business under current ownership and # of years in Mounds View) ' . F but 1p► i-eu.4 ('4, (. C�����i _to A.(2_4,6 W U.--_- x 1/? 4 - 5'hz . , a • 1. iiy 3. Present Ownership of the Site: Ot Yli d ie `4-6. pt(,(2,4_PLQQ-- ot s ruitg q lyit/ Ft.,m4 x y z. ,pe..06&94. 4. Present Project: Building square footage, location of project, size of property, description of buildings -materials, etc. Attach site plan, if available 3000d . 1). . 1 lAcil _ -e g 0 d- i_ cita4.44 1 _En 1-- • - --I .. — -' 4'. _ e- • .' .A S/i : 1 _ i_ :. .� 4–IL1 4i ' Ui s a-bi L i_ I 113CY-1— I - 11 L.cA . ___i a ,• , ,.. . . 1. .4 _. I. . i !�p(x._ -- . - ,....... .. . _ .i A C .L SWI. !'.i. _ / , , tzu...0 ,1 i7,7z#L43 5. If Property is to be Subdivided, Show Division Planned. kJG • DRAFT - September 4, 1996 (Attachment "A" Cont.) 6. Estimated Project Costs: (please enclose construction performa, if available.) • a. Land Acquisition $ an() 000 b. Site Development <-C s J'itic}uh $ / / g'7 .50 CD c. Building Cost <Deo. Cc.b}s> $ 5 eetI O i d. Equipment $ p e. Architectural & Engineering Fees $ a v cI f. Legal Fees $ g. Financing Costs $ 1-/U 00 0 h. Broker Costs $ fsk Q/ Odd I. Contingencies $ aU OU O j. Other (please specify) ( 4vm $ cIYi�o o Total $ l (p 3(p b 1 7. Total Estimate Market Value at Completion $ I.1 iyrt dila 8. Submit an Itemized List of Eligible Costs Qualifying for Assistance (see page 1 of Tax Increment Policy). 9. Sources of Financing 4110 a. Equity $ (Q 3 v b. Bank Loan $ 0. I c. Tax Increment Assistance $ d. Industrial Revenue Bonds $ e. Other (please specify source)5(319 I oct.L $ (0311i 50 U 10. Form of Tax Increment Financing Assistance Requested. °i< Pay As You Go Bond Issuance Excess Increment 11. Name & Address of Architect, Engineer, and General Contractor. S DRAFT e September 4, 1996 (Attachment "A" Cont.) 12. Estimated Real Estate Taxes on Project Site upon Completion of Project. (please show calculations.) 7g —nen-6 ,,,ityveu i en-Q 13. Project Construction Schedule: a. Construction start date tafe. ' 19%(Q 4Construction completion date 1 7 c. If phased project: Year % Complete Year % Complete 14. Estimated Number of Jobs: Created ID (within 2 yrs) Retained L(1 15. Average Annual Wage Level of Jobs Created c:2(at Co( (within 2 yrs) Retained (51;e0 • 16. Is Job Training Assistance Needed? /Uv TAX INCREMENT FINANCING REQUEST: 1. Describe amount, term and purpose for which tax increment financing is required and how the project fits into the City's economic development and redevelopment goals and objectives_ _ 64..,uuo h-r) �.3<��cbo _� u-a_LLt c(, u-� a b 4 ,0 ,. 1't,U►1�_ L4{C.2c.il a w( 7 IAL E ,fes& b on a.„) 2. Statement f ne essity for use o tax increment financing for proje t. U S 41 ,Cm1 %rte ftJ,OFtw 21 a- /6 120717 1.0 vel rt ILe,6Ze ,,['<°i.4 hRaw -/-2) ,41(1-ff IczLt (>.)) 1j1-71- ' - re-S- DRAFT - September 4, 1996 3. Describe the Potential for Growth. O • iwitypo 1( .0062) out-toiC. t P(15 �v 4. What is the Return on Equity Invested that you nee to make the project fear ble, C?(.ueara .. 5. If Rental Space, What is the Range of Targeted Rental Rates: '&1(1_1_1 I ApAlaildLo__Iodui-u,k__ c74, a)4(3 Lo/utc..Q too u 2sJ • DRAFT - September 4, 1996 CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION GUIDELINE IN THE ANALYSIS OF APPLICATION FOR TAX INCREMENT FINANCING ASSISTANCE FOR NAME OF APPLICANT 410 Note: The EDC acts as an advistory to the Economic Development Authority who is the governing body, legal and political, for all Date Reviewed disbusements and approvals of tax increment funds. This document serves as a guideline to asstist the EDC in making judgements for the Total Score use of tax increment funds. There may be projects that do not financially score high but meet or exceed the economic development Result of Analysis and redevelopment goals and objectives for the City of Mounds View. There may also be projects that financially score high but do not meet or are not compatable with the goals and objectives. • DRAFT - September 4, 1996 1. PUBLIC VERSUS PRIVATE INVESTMENT 11111 Private Investment TIF/Public Investment Total Investment Ratio of public vs. private investment Point Private Public Value + 1 Less than $3 to $1 + 2 Over$3 to $1 + 3 Over$4 to $1 + 4 Over $6 to $1 + 5 Over$8 to $1 2. NUMBER OF EMPLOYEES (Computed as full time equivalent positions) Point Number Value + 1 > 1 - 15 +2 > 16 - 30 + 3 > 31 - 45 + 4 > 46 - 75 + 5 > 75 - plus Current Number of Employees Estimated Number of New Employees (within the next 2 years) Total Number of Current and Estimated New Employees 1111 DRAFT - September 4, 1996 3. PUBLIC INVESTMENT PER CURRENT EMPLOYEE Point 11111 Value INVESTMENT 0 $12,500 + + 1 $10,000 - $12,500 + 2 $7,500 - $10,000 + 3 $5,000 - $7,500 + 4 $2,500 - $5,000 + 5 $ 0 - $2,500 TIF/Public Investment $ Current Number of Employees Investment per Employee = $ 4, ANNUAL PAY LEVEL OF POSITIONS Point Annual Dollar Total# of Weighted • Value Salary Weighting Employees Dollar Amt. 0 $ 0 - 14,999 $10,000 + 1 $15,000 - 24,999 $20,000 +2 $25,000 - 29,999 $27,500 + 3 $30,000 - 44,999 $37,500 + 4 $45,000- 59,999 $52,000 + 5 $60,000 and Over $60,000 Total Full Time Equivalent Weighted Average i DRAFT - September 4, 1996 5. REAL ESTATE/PROPERTY TAXES GENERATED (projected tax revenues should be bases on the existing property tax system and rates plus legislative future changes if subject to estimation.) • Point Total Projected Value Annual Taxes + 1 Below$25,000 +2 $25,000 - $49,000 + 3 $50,000 - $99,999 +4 $100,000 - $249,999 + 5 $250,000 and Over 6. SIGNIFICANT IMPACT MULTIPLIER Point * Provide Comments regarding Value Type of Development subjective public benefits of project. + 0 Retail • +2 Office + 3 Office/ Service (50/50) + 3 Value Added (retail with significant service component) +4 Industrial -2 Activity Not Contributing to Tax Base +1 Company/Corporate Headquarters - location of upper management where decisions are made (add 1 pt to above) +1 Target Business +1 - +3 Elimination of Blight (add points to above value) l Total Point Value * 0. SERVICE IMPACT DRAFT - September 4, 1996 Point Value Type of Development - 4.0 Retail - 3.5 Office/Warehouse Service - 3.0 Hi Tech - 2.0 Office 8. FORM OF ASSISTANCE REQUESTED (within TIF District 1, 2, and 3) Point Value - 2 Up-Front + 5 Pay-As-You-Go 9. FORM OF ASSISTANCE REQUESTED (within City but outside of TIF Districts) • Point Value - 2 One-Time Payment + 1 3 Annual Payments +2 4 Annual Payments + 3 5 Annual Payments • DRAFT - September 4, 1996 10. WORKSHEET SUMMARY S POINT VALUE Public versus Private Staff Pt.Value Number of Employees EDC Pt. Value Public Investment per Employee Pay Level of Positions Comments: Real Estate/Property Taxes Generated Significant Impact Multiplier Service Impact Form of TIF Assistance Required Total Points 11. RATING FOR PROJECTS LOCATED WITHIN TIF DISTRICTS 1, 2, AND 3 Point Value Term of Assistance 0-10 0 Years 11 - 13 3 Years - or- Remaining life of TIF District, whichever is less 14 - 16 5 Years - or- Remaining life of TIF District, whichever is less 17 - 20 7 Years - or- Remaining life of TIF District, whichever is less 21 and Over 10 Years - or- Remaining life of TIF District, whichever is less • DRAFT - September 4, 1996 12. RATING FOR PROJECTS IN DEVELOPMENT DISTRICT (OUTSIDE OF TIF DISTRICT) (1) Building Size: Square Foot Cost of Project: (Land & Building) Project (2 ) Per S.F. Cost Per S.F. Allowance $20.00 - $30.00 $3.00 $30.01 - $40.00 $4.00 $40.01 - $50.00 $5.00 OVER $50.01 $6.00 Points (3) Percent of Accumulated Assistance 11 - 13 30% 14 - 16 50% 1111 17 - 20 70% 21 & OVER 100% S.F. of Bldg: (1) $ X S.F. Allowance (2) $ X % of Assistance: (3) Equals Amount of Assistance: $ S DRAFT - September 4, 1996 Minutes of the Economic Development Commission City of Mounds View Ramsey County, Minnesota Regular Meeting September 26, 1996 City of Mounds View, Council Chambers 2401 Highway 10, Mounds View, MN 55112 1. Call to Order: The meeting was called to order at 7:37 a.m. by Chairperson, Dan Nelson. 2. Roll Call: Members present were as follows: Cindy Carlson, Rosemary Goff, Dan Nelson, Brian Sjoberg, Ron Schmidt. Members Delane Welsch and Bev Terhark and EDA Liaison Sue Hankner and Alternate Liaison Gary Quick were absent. Economic Development Coordinator Cathy Bennett was present. 3. Approval Of Minutes: Motion/Second: Goff/Sjoberg moved approval of Minutes of August 22, 1996 Meeting as amended. • Motion Carried 4 ayes 0 nays 4. Special Business No Special Business 5. A. Consideration of Draft Recommendations for Improved Communication Between the EDC and EDA Coordinator Bennett presented recommendations for improved communications between the EDC and EDA that are a compilation of what was discussed at the August EDC meeting. Commissioners made minor revisions to both documents and requested that these recommendations be discussed with the EDA at the September work session for comment. Motion/Second: Goff/Sjoberg moved to approve recommendations for improved communication between the EDA and EDC as amended and forwarded to the EDA for comment. Motion Carried 5 ayes 0 nays 1 B. Consideration of Draft Request for Proposal for Professional Services • Coordinator Bennett noted that on September 9th, the EDA approved Resolution no. 96- EDA51 Authorizing the Economic Development Commission to work on a request for proposal and solicit bids for the development of a vision and schematic plan for highway 10 redevelopment area, section 9. With the ideas that were generated by the EDC at the August meeting, Coordinator Bennett presented a draft RFP and a list of consultants that are located in the Twin Cities. Coordinator Bennett noted that if approved she would mail the RFP's to consultants the first week in October with a submission deadline of October 16. Commissioners made minor revisions to the background section and scope of the study. Motion/Second: Carlson/Goff moved to approve the request for proposal as amended Motion Carried 5 ayes 0 nays C. Consideration of Loan Request from Addie Lane Floral Commissioner Carlson provided an overview of a request from Carol and Dean Johnson DBA Addie Lane Floral for a loan in the total amount of$33,145. The loan request is to expand the current floral business, located in Silver View Plaza, to include the serving of Espresso, Brewed Coffee and Danish. The loan would be used to purchase espresso equipment, espresso cart, plumbing, electrical and remodeling work,wire racks and beginning inventory. Mounds View's • participation would include $16,750 at 2%interest for 8 years. The basic strategy for the loan includes goals of increasing floral sales and profit margin and increase the customer base by offering another product and service not currently offered in the immediate area. Commissioner Carlson reviewed the company and personal financial statements and noted a bank risk rating of 4 "watch" due to several factors such as the tight margin to repay debt with heavy reliance on projections rather than strong collateral. The commission discussed the business loan program's purpose for interior and exterior improvement and were concerned that this request did not technically fit into the current criteria. In addition, the commission was concerned that the request was for 100%financing with no existing business or personal equity and were unsure regarding the market to support the projections which has a direct impact on the repayment ability of the loan. The current collateral would be enough to repay bank loan but due to the City's second position there would be limited to no funds to pay back the City's half. The commission noted that Addie Lane Floral and the owners Carol and Dean Johnson have been a great asset to the community both in their floral service business and volunteer activities with Festival in the Park, Marketing Task Force and Chamber. The Commission would like to assist the company but it may not be in the best interest of the City at this time. One suggestion included reconsidering the loan package if the Johnson's could identify an additional guarantor who could inject and pledge at least$10,000 of additional collateral. Motion/Second: Nelson/Goff moved to deny the current request for $16,500 City loan based upon historical repayment ability and lack of strong secondary repayment source. The • 2 commission would reconsider the loan package if there was the addition of a guarantor who has adequate financial strength and would pledge additional collateral in the amount of at least • $10,000. Motion Carried 4 ayes 0 nays 1 abstain D. Discussion of Sample Tax Increment Financing Application and Review of Guidelines for the Analysis of the Sample Application Motion/Second: Schmidt/Sjoberg moved to table this item due to time constraints. Motion Carried 5 ayes 0 nays Reports From Chair, Commissioners and Staff: Commissioner Schmidt mentioned that he had talked with the Owner of Win Insurance Agency located on the corner of Silver Lake Road and Highway 10 and that he was actively trying to market his property. Coordinator Bennett mentioned that she received a call from him and updated him on the proposed study of this area of Highway 10. Chairperson Nelson noted that the next meeting would be on October 24, 1996 at 7:30 a.m. instead of 6:00 p.m. 7. Adjournment There being no further business before the Commission, this meeting of the Economic Development . Commission adjourned at 8:50 a.m. Respectfully Submitted, 411 Economic Deve .pment Coordinator i 3