2005.10.17 EDA Packet - Laserfiche WebLink

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BACKGROUND MEMO FOR THE EDA MEETING OF OCTOBER 17, 2005 3. SEPTEMBER 19,2005 EDA MEETING MINUTES City staff recommends the board approve the minutes for the September 19, 2005 meeting as presented. 4. SITE PLAN REVIEW FOR PEARSON MECHANICAL INC. At the July 18, 2005 EDA meeting the EDA recommended that the City sell the 3.3 acre property located in the Bald Eagle Industrial Park to Pearson Mechanical Inc., owned by Ronald A. Pearson. Pearson Mechanical Inc. was one of two businesses that were selected to acquire the City property in the park through the Request for Proposal (RFP)process initiated by the EDA. Pearson Mechanical Inc. has since submitted a preliminary site plan for review by the EDA as part of the conditions of approving the final purchase agreement. City staff requests that the EDA review and comment on the preliminary site plan. 5. UPDATE OF OCTOBER 13,2005 MEETING OF THE TIF SUBCOMMITTEE City staff, Paul Steinman of Springsted, and the subcommittee,consisting of Mike Granger, Frank Puleo, and Phil Klein, met on August 23, 2005. Subcommittee member Nick Skarich was unable to attend. At the last EDA meeting,the subcommittee was directed to work on creating a marketing plan for the implementation phase of the downtown redevelopment plan and establishment of the TIF district. The following items were discussed at the subcommittee meeting: 1.) The proposed timeline and work items to be completed for the marketing plan. 2.) The content of the draft TIF/downtown redevelopment project Q & A newsletter. 3.) The proposed meeting dates for a joint EDA/Council educational workshop regarding the marketing plan. At the meeting, City staff will present to the EDA an overview of the proposed marketing plan and the schedule of activities to be completed. Staff requests that the EDA review the proposed timeline and the draft Q &A newsletter and provide staff with feedback on how to proceed. Staff also recommends scheduling a joint Council/EDA workshop in order to review and make final decisions on the future direction of the proposed downtown TIF district. The proposed time and date for the joint EDA/Council workshop is Monday, November 21, 2005, at 8:30 am, at the EDA's next regularly scheduled meeting. 6. UPDATE ON TWIN CITIES COMMUNITY CAPITAL FUND PROGRAM At the September 19, 2005,joint EDA/Council meeting Scott Martin from the Twin Cites Community Capital Fund (TCCCF) gave a presentation about the organization and the benefits members receive from participating in the fund to the EDA and Council. The TCCCF is a nonprofit economic development loan fund. Communities that join the fund are eligible for low interest loans, gap financing, and other financial incentives. The EDA and Council thanked Scott Martin for coming to the meeting and suggested that the EDA and the Council evaluate the materials in order and make a recommendation at the next EDA meeting on whether or not to