Laserfiche WebLink
MINUTES FOR THE EDA MEETING OF SEPTEMBER 15 , 2008 <br /> EDA Vice President Phil Klein called the meeting to order at 8:30 am. <br /> PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Mike Granger, Phil Klein, Brian Thistle <br /> and Fran Miron <br /> ABSENT: None <br /> CITY STAFF PRESENT: City Administrator Mike Ericson, Community Development <br /> Director Bryan Bear, and Associate Planner Rachel Simone <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF AUGUST 15,2008 <br /> Granger made motion, Denaway seconded, to approve the minutes for the EDA meeting of August 18, <br /> 2008. <br /> All aye. Motion carried. <br /> SERTINO'S CAFE <br /> Staff has invited Mickey Michlitch, owner of Sertinos Cafe, to come to the EDA meeting to <br /> talk about his new business in town. Mickey talked about how he decided to come to the City <br /> of Hugo, after he had already picked a location in Woodbury. He stated that signage is very <br /> important for his business and wanted to include more signage. He also stated that the <br /> SAC/WAC fees for the City are a bit higher than other cities he has worked with. Sertinos <br /> serves breakfast in the morning starting a 6 am. The EDA welcomed Sertinos as a new <br /> business in Hugo. <br /> HUGO COMMONS CONSIDERATION OF TIF AGREEMENT <br /> Bill Lentsch and Dale Dockendorf(Development Partners Hugo LLC) have a purchase <br /> agreement with the property owners of the former"End Zone" site. They have applied for <br /> site plan approval and Tax Increment Financing (TIF). The EDA reviewed the TIF <br /> Agreement at the meeting and staff provided the EDA with an overview of the agreement. <br /> Staff recommends approval of the TIF Agreement. Staff recommended that the EDA provide <br /> the City Council with a recommendation on whether or not to approve the agreement. The <br /> site plan and TIF Agreement was on the City Council agenda for consideration on Monday, <br /> September 15, 2008. <br /> The Associate Planner gave an overview of the TIF Agreement. The project is eligible for <br /> TIF because it passes the but for test. The applicant requested TIF for the following: <br /> — Demo $61,490 <br /> — Pub Improvements $190,000 <br /> — Site Improvements $291,610 <br /> — For a TOTAL of$543,000 <br /> — $543,100 @ 6.5%over 25 years for a total of$1.4 Million <br /> The TIF Agreement was put together by Springsted after they completed an analysis of the <br /> request. The TIF agreement is Pay-as-you-go, which means that the developer puts all the <br /> money up front and there is no risk for the City. Springsted made the recommendation from <br />