Loading...
HomeMy WebLinkAbout04-22-2013PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting April 22, 2013 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:00 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: President Flaherty, Vice President Gunn, Commissioner Hull, Commissioner Meehlhause, Commissioner Mueller, and Executive Director Ericson. NOT PRESENT: None. 3. APPROVAL OF AGENDA MOTION/SECOND: Mueller/Meehlhause. To Approve the April 22, 2013, Agenda as presented. Ayes – 5 Nays – 0 Motion carried. 4. PUBLIC INPUT None. 5. APPROVAL OF MINUTES A. January 14, 2013, EDA Minutes. MOTION/SECOND: Gunn/Mueller. To Approve the January 14, 2013, Minutes as presented. Ayes – 5 Nays – 0 Motion carried. 6. CONSENT AGENDA None. 7. EDA BUSINESS A. Discuss Economic Development Advertising. Economic Development Specialist Steinmetz stated this item was placed on the agenda to allow Mounds View EDA April 22, 2013 Regular Meeting Page 2 the EDA to discuss advertising the City to a target audience of businesses and potential developers. She commented the EDC discussed this item last Friday but does not have a recommendation at this time. The EDC would like to further review the item at their May meeting prior to making a recommendation to Council. Commissioner Mueller thanked staff for working through this issue with the EDC and she looked forward to hearing their recommendation in May. Commissioner Meehlhause noted he attended the EDC meeting last Friday and one item discussed was better utilizing the billboards in the community to create interest for potential developers. Mayor Flaherty explained he looked forward to discussing this item in detail next month. B. Review Home Improvement Loan Program Economic Development Specialist Steinmetz stated the EDA’s home improvement loan program was created in late 2010. The four different loan types were discussed in detail. She explained a total of three loans have been closed since the program began. It was noted the lack of interest in this program could be due to the downturn in the economy or rise in unemployment. Economic Development Specialist Steinmetz commented the EDC discussed this program and recommended the EDA reduce the amount allotted for the loan program to $100,000. This would allow for the remaining $50,000 to be used for revitalization of County Road 10. The EDC also recommended the EDA increase the home demolition loan amount to $15,000, which would closer reflect the actual expense to demo a home. Commissioner Mueller questioned how the EDC suggested the $50,000 should be used for revitalization. Economic Development Specialist Steinmetz stated no priorities were specified at their last meeting. She commented the EDC understood that the corridor was a priority and having these funds available would better align with the EDA’s 2013 goals. She indicated $100,000 would be enough to meet the current needs of the home improvement loan program. President Flaherty thought this adjustment made sense and the shift in funds would assist the EDA in meeting their goals for the corridor. He supported the increase to the home demolition loan amount to $15,000. He explained the economy was coming around and the loan program may see more use in the coming years. President Flaherty requested staff review the loan documents further to see if performance measures were in place for demolition loans. Vice President Gunn reviewed the loan process forms noting all contractors had to be licensed and all work must be completed within 120 days of the loan closing. It was her understanding that these stipulations ensured that demolition work would be completed. Mounds View EDA April 22, 2013 Regular Meeting Page 3 Commissioner Mueller was in favor of increasing the home improvement loans due to the fact bathroom and kitchen remodeling projects were extremely expensive. She suggested these loans be increased to $25,000. President Flaherty requested feedback be gained from the Housing Resource Center prior to the City making this adjustment. Economic Development Specialist Steinmetz commented she could speak to the Housing Resource Center and report back to the EDA. The EDA was in favor of decreasing the loan program to $100,000, with the remaining $50,000 being used for Highway 10 revitalization. In addition, the demolition loan program could be increased to $15,000. The EDA requested further information from staff on potentially increasing the home improvement loan amount to $25,000. Economic Development Specialist Steinmetz explained she would report back to the EDA in May with an amended Resolution for the Home Improvement Loan Program. C. Review Business Improvement Partnership Loan Program. Economic Development Specialist Steinmetz explained the Business Improvement Partnership Loan Program was funded 50% by the EDA and 50% by a local bank. She reviewed the eligibility criteria within the program stating the main issue the EDC has with the program was requiring that businesses be located in the City of Mounds View for at least two years. She commented that this requirement was limiting businesses that could apply for the loan program. It was recommended the criteria be altered to ensure the businesses are well established while also allowing for businesses to move into Mounds View and apply for a low interest loan to assist in growing their business. Commissioner Mueller requested the loan program state that the loans were being offered only to Mounds View businesses. President Flaherty agreed. Commissioner Hull questioned who administered the loans. Economic Development Specialist Steinmetz indicated Western Bank handled the underwriting and loan administration process. Economic Development Specialist Steinmetz explained she would report back to the EDA in May with an amended Resolution for the Business Improvement Partnership Loan Program. 8. REPORTS Economic Development Specialist Steinmetz stated the Mounds View Business Council would meet again on Wednesday, May 10th at the Community Center at 7:30 a.m. All were invited to attend. 9. NEXT EDA MEETING: Monday, May 13, 2013, at 6:30 p.m. Mounds View EDA April 22, 2013 Regular Meeting Page 4 10. ADJOURNMENT President Flaherty adjourned the meeting at 6:36 p.m. Respectfully submitted, Recorded and transcribed by: Heidi Guenther TimeSaver Off Site Secretarial, Inc.