EDA PACKET 06.18.19 - Laserfiche WebLink

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1. Conduct an Infrastructure Feasibility Study and Concept Plan for Business Development Opportunities at 165th Street and Highway 61. Action Step: Enter into a professional service agreement with WSB & Associates, Inc. to: 1) Identify potential end users of the created parcels to create appropriate sized parcels. 2) Prepare concept of roadway and lot layouts. 3) Review connectivity to adjacent roadways. 4) Review and make recommendations related to necessary roadway improvements (internal and adjacent). Action Step: Enter into a professional service agreement with Springstead Financial Advisors to: 1) Complete a business incentive analysis, (Tax Increment Financing and Tax Abatement) for the proposed new industrial park development based upon maximum allowable build -out. 2) Review the subsidy projections to the estimated cost of public improvements attributable to the development parcel amount of capital investment required to fund the necessary public improvements. 3) Outline the procedural process through which a potential economic development project could access public assistance. 4) Present to the City of Hugo staff, EDA and City Council an analysis and projections. Action Step: The EDA will review the WSB and Springstead findings and reports upon completion and discuss options and plans on moving forward. Deliverables: This infrastructure feasibility and concept plan will begin in the third quarter of 2018 and be completed by December 31, 2018. Program Cost: $2,100 to be matched with $9,900 in grant funds from the Washington County CDA. 2. Promote Downtown Development/Redevelopment Action Step: City staff with assistance from Washington County CDA staff will update information (including traffic counts) to promote and market the City owned property by advertising and presenting on a panel at the MN Real Estate Journal East Metro Development Summit on July 27th 2018 in St. Paul. 2