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HomeMy WebLinkAbout02-15-2024 EDCCITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION AGENDA MOUNDS VIEW CITY HALL THURSDAY, February 15, 2024 7:30 a.m. 1. CALL TO ORDER 2. ROLL CALL: Chair, Jeff Moritko, Vice Chair, Jim Freichels, Commissioner Jason Helgemoe, Gary Stevenson, Gary Rundle, Andrina Moe, Andrew Kovacs 3. APPROVAL OF THE AGENDA 4. CONSENT AGENDA A. Approval of Minutes: January 18, 2024 5. SPECIAL ORDER OF BUSINESS A. None 6. PUBLIC COMMENT Citizens may speak to issues relating to business and economic development and not on the agenda. Before speaking, please give your full name and address for the minutes. Also, please limit your comments to three minutes. 7. EDC BUSINESS A. Review EDC Bylaws B. Review and Develop 2024 EDC Priorities 8. REPORTS A. Reports of Staff B. Reports of Council Members C. Reports of EDC Commissioners 8. NEXT REGULAR EDC MEETING: A. March 21, 2024 at 7:30 a.m. As-Needed B. April 1, 2024 at 6:00 p.m. for a joint City Council/Planning Commission/ECD meeting 9. ADJOURNMENT Minutes of the Economic Development Commission City of Mounds View Ramsey County, Minnesota Regular Meeting January 18, 2024 City of Mounds View, Council Chambers 2401 County Road 10, Mounds View, MN 55112 1. CALL TO ORDER Chair Jeff Moritko called the meeting to order at approximately 7:30 a.m. 2. ROLL CALL Members Present: Chair, Jeff Morito, Vice Chair, Jim Freichels, Commissioners, Gary Stevenson, Gary Rundle, & Andrew Kovacs Members Absent: Jason Helgemoe & Andrina Moe Staff Present: Assistant City Administrator, Brian Beeman Meeting Attendees: Gary Meehlhause 3. APPROVAL OF THE AGENDA Motion/Second: Commissioner Freichels moved and Commissioner Stevenson seconded the approval of the January 18, 2024 EDC Agenda. Motion Carried: 4 Ayes, 0 Nays 4. CONSENT AGENDA Motion/Second: Commissioner Rundle moved and Commissioner Moe seconded the approval of the November 21, 2023 EDC minutes. Motion Carried: 4 Ayes, 0 Nays 5. SPECIAL ORDER OF BUSINESS Assistant City Administrator Brian Beeman conducted the Oath of Office for Andrew Kovacs who’s term ends December 31, 2026. 6. PUBLIC COMMENT Chair Moritko called for public comments. There being no public comments, the EDC moved to the next agenda item. 7. EDC BUSINESS A. Elect Chair and Vice Chair Motion/Second: Commissioner Freichels moved and Commissioner Stevenson seconded approving the recommendation to the EDA to appoint Jeff Moritko as the EDC Chair. Motion Carried: 5 Ayes, 0 Nays Motion/Second: Commissioner Stevenson moved and Commissioner Rundle seconded Commissioner Freichels to serve as the Vice Chair. Motion Carried: 5 Ayes, 0 Nays B. New Member Appointment Discussion EDC Minutes January 18, 2024 Page 2 of 2 The Commission decided to forego this agenda item due to having just sworn in Commissioner Andrew Kovacs, making the item mute. C. Future Topics & Presentations The Commission discussed the topic of TCCAP. Staff recommended that when Rice Creek Commons hold open housed and public forums that the EDC consider attending. Staff will also line up a joint meeting with the Council, Planning Commission, and EDC and try to line up a MNDOT speaker to update on 2024 road improvement projects. 8. REPORTS: A. Reports of Staff Assistant City Administrator updated the Commission on the Rice Creek Commons open house, informed the Commission that the Mounds View Business Council has merged with New Brighton’s Business Council and has a variety of speakers, provided the Long Lake Woods development, the old Simon’s building site, Ardan Park redevelopment which may become a wetland banking area, an update on the Forgivable Loan program, and the EDA purchase of two property to be demolished and rezoned, and finally, an update on the Mounds View Square redevelopment study, then turned it over to Chair Moritko. B. Reports of Council Members Council Member Meehlhause provided an update on the EDA’s purchase ot two properties for redevelopment purposes, announced that he is the new EDA Chair, an update on the property tax levy, update on the water plant mediation, update on the proposed new Commission Member evaluation process. C. Reports of EDC Commissioners There was no Commissioner reports. 9. NEXT REGULAR EDC MEETING Chair Moritko reminded the Commission that the next EDC meeting will be held February 15, 2024 at 7:30 a.m. 10. ADJOURN There being no further business, Chair Moritko adjourned the January 18, 2024 meeting at approximately 8:56 a.m. Respectfully submitted, _______________________________ Brian Beeman Assistant City Administrator Item #: 7A Meeting Date: February 15, 2024 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Assistant City Administrator Item Title/Subject: Review Economic Development Commission Bylaws Background Section 408.07 of the City Code indicates that the EDC should review its Bylaws annually, and that this should be done at the first regular meeting in February. Subd. 6. Bylaws: The Commission shall adopt bylaws for its governance and for the transaction of its business. The bylaws will be reviewed on an annual basis at the first regular meeting in February. The EDC reviews its Bylaws annually. The last time the Bylaws were amended was November 21, 2019 to follow the City Code regarding meeting times. Staff Recommendation Please review the attached Bylaws. If any changes are needed, staff will prepare a resolution to formalize the amendment. Staff is not recommending any changes at this time. Respectfully submitted, ____________________________ Brian Beeman, Assistant City Administrator Attachments: 1) Current EDC Bylaws (Amended November 21, 2019) 2) Chapter 408 City Code EDC CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION BYLAWS I. AUTHORITY: These Bylaws are established in accordance with City Ordinance 408.07, Subdivision 6. "The Commission shall adopt bylaws for its governance and for the transaction of its business." There shall be no conflict between the Bylaws of this Commission and the provisions of the City Charter and the Municipal Code. II. MEETINGS. The regular meetings of the Commission shall be held in accordance with City Ordinance 408.07, Subdivision 2. “The Commission shall hold at least one (1) regular meeting as-needed each month at a time which the Commission shall fix by resolution.” Regular meetings may be changed, added or canceled by the chairperson or vice- chairperson. Special meetings may be added by the chairperson or vice-chairperson. A. The regular business meeting shall be for the purpose of making recommendations to the Economic Development Authority, herein EDA, conducting public hearings, drafting of reports, and for other discussion not requiring action (ie. vote) by the Commission. B. Meetings shall be conducted in accordance with State Open Meeting Laws. III. INFORMATIONAL PACKETS. Each commissioner shall receive an informational planning report for the items that are on the regular meeting agenda no later than the Tuesday preceding the regular meeting. Each commissioner is responsible for reviewing the material within the packet prior to the regular agenda meeting. IV. ATTENDANCE. Commission members shall advise the designated Staff member or chairperson of an anticipated absence from any regularly scheduled Economic Development Commission meeting. Any member attending less than eighty percent of the meetings per year without consent of the commission shall be deemed to have vacated the office, and EDC Bylaws Revised November 21 2019 2 such vacancy shall be filled by the EDA pursuant the Chapter 408.06 of the Municipal Code. A leave of absence may be granted by the consent of the commission. V. PROFESSIONAL CONSULTANTS. Advice from, consultation with, and/or requests for review by the City Attorney, Bond Attorney, City Engineer, City Planning Agency, or other paid consultants shall be in accordance with the Municipal Code. VI. ADJOURNMENT. Meetings shall adjourn on or before 90 minutes from the time of call to order unless a two-thirds majority of the members present agree to extend the time of adjournment. VII. MINUTES. Approved minutes shall be the official record of the Economic Development Commission. A. The minutes shall state: 1. The kind of meeting, whether regular business or special and the date, time and place. 2. Roll call of members present and whether absent members are excused or unexcused. 3. Corrections to and approval of the previous minutes and the vote taken. 4. Description of each item being discussed. 5. A motion and second is required for each action item and the motion shall be recorded as accurately as possible. 6. The vote on each motion (ayes, nays, and abstentions), a statement of reasons for nay votes or abstentions, and whether motion carries or fails. 7. Specific concerns addressed to the chairperson for inclusion in the minutes. 8. Reports by members. 9. Time for adjournment. 10. Signature of the Staff designated member. B. All minutes shall be clearly marked to indicate either "APPROVED" or "UNAPPROVED". Each commissioner shall receive a copy of the previous regular business meeting minutes "UNAPPROVED". Approved copies may be obtained EDC Bylaws Revised November 21 2019 3 upon request. A copy of the approved minutes shall be filed with the EDA Executive Director. VIII. LIAISON TO EDA. In the event of the absence of the EDA ex-officio member, a commission member may be appointed by the chairperson to represent the Economic Development Commission at the next regular EDA meeting. IX. POTENTIAL CONFLICT OF INTEREST. When a potential conflict of interest may exist for commission member or members, the member(s) shall ask to be excused and step down from the commission prior to discussion on that item. X. SUPPLEMENTARY PUBLICATIONS. All commission members shall receive a copy of the Municipal Code, Chapter 408, as well as other materials as provided by the EDA, Staff or other commission members. 408.01 408.02 (Rev. 6/94) City of Mounds View CHAPTER 408 ECONOMIC DEVELOPMENT COMMISSION SECTION: 408.01 : Establishment 408.02 : Purpose 408.03 : Composition, Members, Qualification of Members, Terms of Office 408.04: Conflict of Interest 408.05 : Compensation 408.06 : Vacancies 408.07 : Organization, Meetings 408.08 : Expenditures 408.09 : Duties of the Commission 408.01 : ESTABLISHMENT: The Economic Development Commission is hereby established. The Economic Development Commission is referred to herein as the “Commission”. (Ord. 542, 6-27-94) 408.02 : PURPOSE: The Commission shall serve as an advisory commission to the Economic Development Authority, hereinafter the “Authority”, on matters relating to fostering a positive economic climate, encouraging economic development and enhancing the tax base of the City. The Commission shall also make recommendations to the Authority regarding retention and expansion of existing businesses, attraction of desirable new businesses, redevelopment and rehabilitation opportunities, and other appropriate economic development strategies. (Ord. 542, 6-27-94) City of Mounds View 408.03 408.05 (Rev. 6/4) 408.03 : COMPOSITION, MEMBERS, QUALIFICATION OF MEMBERS, TERMS OF OFFICE: (Ord. 677, 2-12-01) The Commission shall be composed of seven (7) equal voting members, including three (3) business representatives and four (4) residents, appointed by the Authority Board of Commissioners based on the recommendation of the Economic Development Commission, from the applications submitted. Members shall have diverse qualifications with practical experience consisting of, not limited to, but including one (1) of the following areas: economics, finance, accounting, real estate, social services and marketing. For the purpose of initiating the Commission, the terms of all members shall expire December 31, 1994. (Amended, Ord. 741, 6-28-04) Beginning January 1995, three (3) members shall serve a one (1) year term, two (2) members shall serve two (2) year terms and (2) members shall serve three (3) year terms. Thereafter, members shall serve three (3) year staggered terms, with terms expiring December 31 of each year. At least two (2) of these terms, but not more than three (3) terms shall expire each year. The appointees shall be duly sworn and take office at the first regular meeting of the Commission in the month of January each year. Both original and successive appointees shall hold their offices until their successors are appointed and qualified. (Ord. 546, 7-25-94; Ord. 677, 2-12-01) 408.04 : CONFLICT OF INTEREST: No person shall be appointed with private or personal interest likely to conflict with the general public interest. If any person appointed shall find that their private or personal interests are involved in any matter coming before the Commission, they shall disqualify themselves from taking part in action on the matter; alternatively, they may be disqualified by a two-thirds (2/3) majority vote of the Commissioners in attendance. (Ord. 542, 6-27-94) 408.05 : COMPENSATION: Members of the Commission shall serve without compensation. (Ord. 542, 6-27-94) City of Mounds View 408.06 408.07 (Rev. 5/10) 408.06 : VACANCIES: Subd. 1. Termination of Appointment: Any Commission member designing to terminate their appointment to the Commissioner before the expiration of their term shall give written notification to the Commission chairperson of their intentions. It should be the duty of the chairperson of the Commission to notify the Authority promptly of any vacancies. The Authority president, with approval of a majority of the Authority Board of Commissioners, shall appoint a new member from applications received for the unfulfilled portion of the term. Subd. 2. Removal from Office: Any member of the Commission may be removed from office for just cause and on written charges by at least four-fifths (4/5) of the entire Authority. Such member may be entitled to a public hearing before such a vote is taken. An appointed member may also be removed by the Authority for nonattendance at Commission meetings if a Commissioner is absent from five (5) regularly scheduled meetings per year or from three (3) consecutive meetings, without the consent of the Commission. (Ord. 542, 6-27-94) 408.07 : ORGANIZATION, MEETINGS: Subd. 1. Organization: At the first regular meeting of the year, the Commission shall appoint a chairperson from among its voting members. This appointment shall be subject to Authority approval and shall consist of a one (1) year term. The position of chair shall rotate among members, with no Commissioner serving in that capacity for more than two (2) consecutive terms. The Commission shall also elect a vice-chair from among its appointed members for a term of one (1) year. The Commission may create and fill such other offices from its members as it may determine to transact Commission business. Subd. 2. Regular Meetings: The Commission shall hold at least one (1) regular meeting as- needed each month at a time which the Commission shall fix by resolution. Subd. 3. Special Meetings: Special meetings may be called by the chairperson or by any two (2) members of the Commission by a written notice filed with the City Administrator who then shall notify all members of the Commission of the time and date of the special meeting, at least three (3) days before the meeting date. (Amended, Ord. 844, 5-20-10) Subd. 4. Quorum: A majority of the appointed voting Commission members shall constitute a quorum. Subd. 5. Voting Privileges: Each of the appointed members shall have equal voting privileges. City of Mounds View 408.07 408.09 (Rev. 6/94) Subd. 6. Bylaws: The Commission shall adopt bylaws for its governance and for the transaction of its business. The bylaws will be reviewed on an annual basis at the first regular meeting in February. Subd. 7. Records: A recording secretary shall keep a record of attendance at Commission meetings, a record of resolutions and votes and abstentions on each question requiring a vote. The record of the Commission shall be a public record. Subd. 8. Report: The Authority may request an annual report from the Commission without having received consent of its content by a majority of the Commission members at a regular or special meeting of the Commission. (Ord. 542, 6-27-94) 408.08 : EXPENDITURES: The Commission may request from the Authority such funds as may be necessary and proper for the conduct of its duties. (Ord. 542, 6-27-94) 408.09 : DUTIES OF THE COMMISSION: In order to carry on its purpose, the Commission shall: Subd. 1. Confer with and advise the Authority on all matters concerning the industrial and commercial development and redevelopment of the City. Subd. 2. Publicize, with the consent of the Authority, the industrial and commercial advantages and opportunities of the City. Subd. 3. Collect data and information as to the type of industries and commerce best suited to the City. Subd. 4. Survey the overall condition of the City from the standpoint of determining whether the City has a community climate for industry and to determine the general receptiveness of the City of particular types of industry. Subd. 5. Publicize information as to the general advantages of industrial and commercial development and redevelopment in a community. Subd. 6. Cooperate with all industries and businesses in the City and in the solution of any community problems which they may have, and to encourage the expansion, development and management of such industries and business so as to promote the general welfare of the City. Subd. 7. Coordinate the Economic Development activities of the various groups active in the City. City of Mounds View 408.09 408.09 Subd. 8. Recommend zoning changes and development of areas suitable for industrial and commercial development and redevelopment to the Planning Commission. Subd. 9. Develop, compile, coordinate and publicize information such as, but not limited to the following: a. Existing industrial and commercial concerns within the City, their addresses, types of business, number of employees and whether each serves local, regional or national markets. b. Available industrial and commercial sites including number of acres and square footage, approximate price, existing zoning and proximity to highways. c. Available buildings for industrial and commercial operations, including type of buildings, number of square feet, existing zoning and proximity to highways. d. Transportation facilities, including railroads, motor carriers, water transportation, air transportation and highway facilities that serve the area. e. Electric power available. f. Fuels available for industrial and commercial use. g. Sewage disposal facilities. h. Water supply facilities. i. Community facilities such as fire, police and educational. j. Recreational facilities. k. Going wage rate in the City for the trades, skilled and semi-skilled and white collar workers. l. Availability of labor. m. General community attitude toward industrial and commercial expansion, development, redevelopment and attraction. n. Experience and programs of surrounding communities in regards to industrial and commercial expansion, development, redevelopment and attraction. o. Financial and technical resources available to new and existing businesses at the local, County, State and national levels for economic expansion and vitality. City of Mounds View 408.09 408.09 (Rev. 6/94) Subd. 10. Recommend Authority and Planning Commission policies and particular actions in regards to industrial and commercial expansion development, redevelopment and attraction. Subd. 11. Cooperate with and use the services of the Minnesota Department of Trade and Economic Development, Minnesota Housing Finance Authority and any other organizations at the national, State, County and local levels that are deemed conducive to the overall vitality of the City. Subd. 12. The Commission shall have the power to appoint task forces of a size and nature it may deem necessary and may enlist the aid of persons and/or organizations who are not members of the Commission. Subd. 13. The Commission shall have no power to make contracts, levy taxes, borrow money or condemn property, but shall have the full power and responsibility to investigate the necessity and recommend the taking of these and any other actions related to the industrial and commercial development and redevelopment by the Authority and all other officers of the City responsible to formulate the terms of and the procedure for taking such action. Subd. 14. Review the City’s existing housing stock analysis and make recommendations to the Authority regarding mechanisms for the rehabilitation of said housing stock. (Ord. 542, 6-27-94) Item #: 7B Meeting Date: February 15, 2024 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Assistant City Administrator Item Title/Subject: Review EDC’s 2024 Economic Development Commission Priorities Background Annually, the EDC reviews the priorities for the upcoming year. At the EDC’s meeting February 16, 2023 the Commission reviewed the priorities from the previous year. For the most part, the adopted priorities for 2023 remained unchanged. Discussion The EDC to review and discuss the 2023 EDC Priorities list as a reference to assist with developing a 2024 Priorities list. Assistant City Administrator, Brian Beeman will review the list. The adopted 2023 priorities list is attached. Recommendation Staff recommends that the EDC review and adopt the 2024 priorities my motion. Respectfully submitted, ____________________________ Brian Beeman Assistant City Administrator Attachments: 1) 2023 Priorities 2023 Economic Development Commission (EDC) Priorities Amended and Revised by EDC February 16, 2023 1) Redevelopment along the Mounds View Boulevard corridor: a. Improve the aesthetics of properties located on Mounds View Boulevard- (Public Works and Comm Dev. Depts. Working together on a phased improvement plan) b. Silver View Plaza-(Owned by Krause Anderson no immediate plans) c. Simon’s, & EDA-Owned Lot-(Local dentist is developing) d. The Bear Lot & Adjacent Bio Life Lot-(Tied up in a REIT 30 mortgages) e. Five lots along Mounds View Boulevard & Woodale Drive Lots Southeast of Bel Rae-(Multiple multi-family developers inquiring, this is the highest and best use) f. Five lots west of The Boulevard Apartments-(Developers have inquired but the three single-family homes are too costly. Ramsey County requires this to be multi-family housing) g. American National Bank Lot-(They are willing to split the lot a long as bank and drive-thru remain) h. Steve’s Appliances Redevelopment-(No immediate plans) i. Retail mixed-use at the Movie Theater-(AMC has long-term lease until 2032, new owners have talk about adding a new restaurant, considering a feasibility study to determine highest and best use) j. Mounds View Square 2) Monitor development plans for the Rice Creek Commons site in Arden Hills-(New Arden Hills City Council is pro-development.) 3) Ardan Park Redevelopment Area: Consider purchasing additional lots including rear lot & house with no city service connections and adjacent lots for a larger housing redevelopment-(EDA acquired the house next to City lot along Longlake Rd. EDA interviewed several developers who have shown interest in the area and chose to work with Pulte Homes and Yard Homes for a townhome development and smaller Yard Homes development) 4) Monitor Mounds View commercial properties in transition-(On-going, staff has an updated list of redevelopment sites and properties) 5) Skyline redevelopment & Bauer Welding vacant lot-(Skyline’s “The Village at Mounds View” affordable senior living project broke ground June 2022, may open summer or fall of 2023. Bauer Welding may use their 2 acre lot for an expansion project) 6) Monitor and assist with Citywide housing issues and projects & older properties as well as cooperating with residential property owners to assist with upgrading facilities-(Increased code enforcement, EDA taking note of older homes that need to be taken down, City and Ramsey County have fix-up loan programs for homeowners, Addressing absentee landlords is a new 2023-25 Strategic Plan Goal) 7) Monitor & explore new business categories through trade groups like Medical Alley and identify available spaces in Mounds View with the intent to fill those spaces with new companies-(Little has been accomplished in this area since the EDC Commissioner moved) 8) Continue business retention & expansion program-(BR&E program was halted during COVID pandemic shut-down, businesses are still swamped trying to find and hire employees and have no time to meet the City until the workforce issues are resolved) 9) Potential Community Center Expansion-(Pending proper funding and voter approval). The Mounds View Vision A Thriving Desirable Community Item #: 8A Meeting Date: February 15, 2024 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Assistant City Administrator Item Title/Subject: Reports of Staff A. Rice Creek Commons (TCAAP) Development Update In late spring of 2019 project engineers were in the process of plans for mass grading, utility installation, and primary roadways on the site. This work was slated to be completed in 2019. Initially, the first phase of housing and early commercial construction was expected to begin in 2020 and when fully realized, the mixed-use development was expected to offer 1,460 housing units, support at least 4,000 living-wage jobs, and generate approximately $8.6 million in property taxes annually. Ramsey County Commissioner Nicole Joy Frethem met with the Mounds View City Council January 11, 2021 and stated that the law suit is still in effect however, neither party is at liberty to mention any details of the lawsuit. However, she stated that they feel progress is being made and they are nearing an agreement. As of November 2022, all construction is still on hold. At the November 1, 2023 open house, the developer is proposing additional density. The Arden Hills City Council did direct Staff to bring the necessary code amendments through, which will happen in December 2023. In a perfect world, master development agreement discussion will begin January 2024 with the goal of having a final agreement in 2024. For more information: https://www.cityofardenhills.org/AgendaCenter/ViewFile/Agenda/_09272023-1166 B. Mounds View Business Council Meeting The next meeting will be held at Dalco Enterprises, Inc. in New Brighton Wednesday March 21, 2024 from 8:00-9:00 a.m. The Twin Cities North Chamber of Commerce has combined Mounds View with New Brighton into one Business Council. All meetings are free and all EDC Members are encouraged to attend. The featured speaker is from the MN Retailers Association and will be providing an update on the retail industry as well as the new cannabis law updates for municipalities. C. Long Lake Woods Marty Harsted is moving forward in creating 12 new single-family residential lots. He would like to break ground in 2024. He apparently has about four homes that would be built right away once the development has been completed. D. Tom Fields Estate A developer had planned to purchase three lots from Tom Fields located across from Lambert Park to construct three assisted living homes, however Mr. Fields has delayed the project. Therefore, the developer has backed out of the project. Several more developers have inquired about these lots, however the asking price is too high and they have backed out as well. This project is on hold until the land owners agree to move forward. Another developer interested as of 02-08-24. (No Change) E. Simon’s Building The Simon’s property has been purchased by Sabry Shrara, the owner of Mounds View dentistry. He initially, wanted to construct a new professional building consisting of a new dental office and two additional suites to be leased to a future tenant with apartments on the upper levels. However, he couldn’t get lending for that type of use, so he is reevaluating and the project is on hold until he can get his current dental office build out completed near the movie theater. Reports of Staff February 15, 2024 Page 2 of 2 F. Kusina Restaurant The Kusina Restaurant and Fillipino Village are taking advantage of a Critical Corridors grant through Ramsey County to finish exterior painting of the entire building. They are hoping to get that accomplished in the spring of 2024. G. MV Square Staff met with Paster Enterprises in September 2022 to seek their interest level in redeveloping the Mounds View Square area. They see the potential need to redevelop the site. Staff met with Paster Enterprises to brainstorm ideas. Then the City submitted and received a grant for $50,000 from Ramsey County to help with redevelopment planning for this area. The City hired a consultant to complete a market study and concepts for the site. Meetings were held at two City Council work sessions and they also held a public engagement open house to capture comments from the public. The City Council accepted the final findings and recommendations at its December 11, 2023 meeting. It is up to Paster Enterprises to determine the next steps and what they will do if anything with the property. H. Forgivable Loan Program The EDA offers three forgivable loan programs each year to local businesses in the amount of $5000 each. It is a first-come, first-served basis. As of January 10, 2024 all three loans have been fulfilled. (Shifty’ s Barber Shop, Big Dipper Creamery, & Sandwich King) Since that time, four more loan requests have come in. (Pink Flower, Kusinas, Filipino Village, E-Z Grocery) The other loan program is the Business Improvement Loan. When funded, it allows businesses to apply for up to $50,000 for business improvements to the building, landscaping, façade, signage, remodel, etc. This is a participation loan, meaning the EDA can approve up to $25,000 at 2%, however the business must first find a participating lender to fund the first $25,000 for a total of $50,000. The lender would set their own rates, but the EDA rate is set at 2%. The lender would take first position, do the credit checks and due diligence and collect and keep track of payments then disperse the EDA amount monthly. As of January 10, 2024, the EDA only has $9,000 remaining for this type of loan. There are three business requests for this program. The EDA will consider funding this program once the seriousness and viability of the applicant is determined. The City also has three other loan programs for residential purposes. I. Ardan Park & Greenfield Park Redevelopment Wetland delineation studies were completed in the fall of 2022 on both sites. Several developers showed interest and the Council ultimately chose Pulte Homes to develop market rate town homes as per the City’s Strategic Plan. Since then, the Council voted against the development. The City is currently researching wetland banking for that area and the possibility of a nature park. J. EDA Property Acquisitions The EDA recently acquired a single-family residential lot next to Steve’s Appliances with the idea of rezoning to allow for a commercial use. The EDA also closed on a residential lot near American National Bank January 19, 2024. K. Other Upcoming Events/Reports April 1, 2024 The EDC is invited to attend a joint City Council, Planning & Zoning Commission, and EDC meeting starting at 6:00 p.m. Agenda: 1) MNDOT Road Construction update for 2024, 2) Twin Cities North Chamber of Commerce update 3) Round Table of Commission Updates ______________________________ Brian Beeman Assistant City Administrator Attachment(s): None