HomeMy WebLinkAbout02-20-1997 Minutes of the Economic Development Commission
City of Mounds View
01/ Ramsey County, Minnesota
Regular Meeting
February 20, 1997
City of Mounds View, Council Chambers
2401 Highway 10, Mounds View, MN 55112
1. Call to Order:
The meeting was called to order at 8:55 a.m. by Vice Chairperson, Cindy Carlson.
2. Roll Call:
Members present were as follows: Cindy Carlson, Rosemary Goff, Bev Terhark and Delane Welsch.
Members Brian Sjoberg, Ron Schmidt and Dan Nelson were absent. EDA Liaison Duane McCarty and
alternate Liaison Gary Quick were absent. Dir.of Economic Development Cathy Bennett was present.
3. Approval Of Minutes:
Minutes from November 21, 1996 and January 23, 1997 were tabled until next meeting.
• 4. Special Business
Special Business was discussed prior to when the meeting was called to order.
SRF Consulting gave an overview of the work that has been completed to date (base data and
inventory collected, interviews completed, market overview and development of preliminary
vision,goals and objectives). The final presentation of the recommended plan was scheduled
for April 7, 1997 during the Council/EDA regular monthly work session.
Patrick Peters handed out an overview of the ideas collected at the Design Workshop and he
reviewed the draft goals/objectives. Mr. Peters requested any changes to the goals/objectives as
soon as possible so that they may be incorporated into the final document. Three land use
alternatives were presented. Alternative A includes a minimal redevelopment of the parcel with
limited combing of parcels. Alternative B provides for more partnership opportunities and
includes pedestrian pathways along Highway 10 on the north side between County Road I and
Silver Lake Road. Alternative C combines most of the vacant parcels into one or two
developments for maximum land usage and includes the proposal for sidewalks on the North
and South sides of Highway 10 with a trail connection from County Road I to Silver Lake Road
and around the wetland. In addition,Alternative C brings the commercial uses up to front
Highway 10 for better visibility.
A draft of the final recommendation will be available for EDC review prior to the presentation
to the EDA.
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1 .
5. EDC BUSINESS
A. Consideration of Tax Increment Assistance Request
Dir of ED Bennett described the request for$150,000 of tax increment funds to enable the
building of a 25,000 sq.ft. office/warehouse facility for a local company called Zep
Manufacturing. Bennett explained the staff analysis and reviewed the need for tax increment.
Bennett explained the financial analysis and payback of TIF and would propose the
recommendation of 50%of the increment for 6 years with a maximum payout of$150,000 net
present value dollars.
Motion/Second: Welsch/Carlson moved to approve the recommendation of 50%of the increment for 6
years up to $150,000 of tax increment assistance for Zep Manufacturing
Motion Carried 4 ayes 0 nays
B. Consideration of Tax Increment Policy and Deposit Agreement
Vice Chair Carlson noted that the EDC has spent considerable time in putting together the TIF
Policy and Deposit Agreement and that even though the Guidelines for evaluating a request are
not complete that the Policy and Deposit Agreement should be considered for approval at this
time.
Motion/Second: Welsch/Goff moved to recommend the approval of the Tax Increment Policy and
Deposit Agreement as presented and to direct staff to bring these items to the EDA for final approval.
Motion Carried 4 ayes 0 nays
• C. Consideration of EDC Work Plan for 1997
Motion/Second: Goff/Carlson moved to table and bring to the next meeting for consideration due to a
lack of time to review
Motion Carried 4 ayes 0 nays
6. Reports From Chair, Commissioners and Staff:
7. Adjournment
There being no further business before the Commission, this meeting of the Economic Development
Commission adjourned at 9:10 a.m.
Respe ully Submitted,
Director of E •Ti •mic Development
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