My WebLink
|
Help
|
About
|
Sign Out
Home
2011.06.13 EDA Minutes
Hugo
>
Community Development
>
EDA
>
EDA Minutes
>
2011 EDA Minutes
>
2011.06.13 EDA Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/7/2015 2:02:40 PM
Creation date
12/7/2015 1:41:45 PM
Metadata
Fields
Template:
Commissions
Meeting Date
6/13/2011
Document Type
Minutes
Commission Name
EDA
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
2
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Commissioner Graff discussed the outcome of the meeting and other information he has <br />gathered for flexible office space. He has been in contact with Mike Brass at Welsh <br />Companies and there are ways that flexible office space can work. One, owner occupied <br />buildings with excess space to lease and two, a company that specializes in flexible office <br />space manages the building. There are other ways it can work at a smaller location. He has <br />been talking to several local businesses and business owners in the area. <br />Commissioner Graff stated that he would like to invite Gretchen Boyd, president of Business <br />Networking International (BNI), to a meeting to update the EDA on the BNI group. <br />DISCUSSION ON TAX ABATEMENT <br />At the April EDA meeting, staff was asked to put together information for the basics of tax <br />abatement and how it can be used. Staff has included a document from Springsted on the <br />concepts and mechanics of tax abatement. <br />Minnesota law allows cities to grant property tax abatement for economic development. <br />Tax abatement is a temporary deferral of payments for property tax. Bonds can be paid back <br />with abatements. Some qualifications include: <br />• Increase tax base <br />• Provides employment <br />• Redevelopment <br />• Provide residents access to public services <br />• Construct public facilities <br />Community Development Director, Bryan Bear, mentioned projects in Hugo where the City <br />used tax abatement to pay for bonds. He discussed that the regulations are less with tax <br />abatement than with Tax Increment Financing (TIF). <br />UPDATE ON DOWNTOWN REDEVELOPMENT <br />Staff updated the EDA on the progress of downtown redevelopment. <br />The purchase agreement extension was approved by the City Council with FBF, LLC, for the <br />City owned property in downtown. <br />The City owned print shop building will be rented out on a short term lease. <br />Staff continues to help Pete Sampair in completing the Met Councils Livable Communities <br />Grant application for a mixed-use development. <br />NRI continues to move forward with its approved plans for the property. <br />ADJOURNMENT <br />Puleo made a motion, seconded by Arcand, to adjourn at 10:25 am. <br />All aye. Motion carried. <br />
The URL can be used to link to this page
Your browser does not support the video tag.