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EDA PACKET 06.18.19
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EDA PACKET 06.18.19
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10/14/2019 11:22:29 AM
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10/14/2019 11:21:59 AM
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Commissions
Meeting Date
6/18/2019
Document Type
Agenda/Packets
Commission Name
EDA
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1. Conduct an Infrastructure Feasibility Study and Concept Plan for Business <br />Development Opportunities at 165th Street and Highway 61. <br />Action Step: Enter into a professional service agreement with WSB & Associates, Inc. to: <br />1) Identify potential end users of the created parcels to create appropriate sized parcels. <br />2) Prepare concept of roadway and lot layouts. <br />3) Review connectivity to adjacent roadways. <br />4) Review and make recommendations related to necessary roadway improvements <br />(internal and adjacent). <br />Action Step: Enter into a professional service agreement with Springstead Financial Advisors to: <br />1) Complete a business incentive analysis, (Tax Increment Financing and Tax <br />Abatement) for the proposed new industrial park development based upon maximum <br />allowable build -out. <br />2) Review the subsidy projections to the estimated cost of public improvements <br />attributable to the development parcel amount of capital investment required to fund the <br />necessary public improvements. <br />3) Outline the procedural process through which a potential economic development <br />project could access public assistance. <br />4) Present to the City of Hugo staff, EDA and City Council an analysis and <br />projections. <br />Action Step: The EDA will review the WSB and Springstead findings and reports upon <br />completion and discuss options and plans on moving forward. <br />Deliverables: This infrastructure feasibility and concept plan will begin in the third quarter of <br />2018 and be completed by December 31, 2018. <br />Program Cost: $2,100 to be matched with $9,900 in grant funds from the Washington County <br />CDA. <br />2. Promote Downtown Development/Redevelopment <br />Action Step: City staff with assistance from Washington County CDA staff will update <br />information (including traffic counts) to promote and market the City owned property by <br />advertising and presenting on a panel at the MN Real Estate Journal East Metro Development <br />Summit on July 27th 2018 in St. Paul. <br />2 <br />
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