2008.04.21 EDA Minutes - Laserfiche WebLink

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Thistle talked about identifying developers that may want to do a project in downtown Hugo. DISCUSSION ON TIF CERTIFICATION At the March 2008 meeting the EDA discussed a TIF application from DK Dockendorf Inc. for a 23,123 square foot retail building. There were questions about separating the properties in that area into its own TIF District, timing of certification, and Frank Langer's, City Assessor, valuation on the property. Frank Langer and the applicant met recently to discuss the valuation of the property. Staff completed a study on what would happen to the rest of the district if the properties were broken off into their own district. Staff presented these finding at the meeting. Staff has been in contact with Springsted on the timing of certification of the district and discussed it with the EDA at the meeting. The Associate Planner gave the results of the study regarding separating parcels from the TIF District. Although the district would still qualify, staff feels it is best to keep the TIF District with its current boundaries to generate the amount of increment planned for in the TIF plan. Miron discussed with the EDA the need to be more aggressive with marketing the TIF District and the City owned property. Thistle agreed. Miron made a motion, seconded by Thistle, to send the Project Showcase article to developers and report back to the EDA in June. All aye. Motion carried. Deb Barnes from the Citizen Newspaper made a comment about the current situation of the Avalon Building in White Bear Lake falling apart. She suggested the EDA to write a letter to the businesses leasing space there that Hugo has rental properties available. Miron made a motion, seconded by Denaway, to recommend to the BR&E subcommittee to send a letter to the businesses in the Avalon Building that Hugo has rental space available. All aye. Motion carried. ADJOURNMENT Denaway made motion, Thistle seconded, to adjourn the meeting at 9:55 am All aye. Motion carried.