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HomeMy WebLinkAbout2005.10.17 EDA MinutesMINUTES FOR THE ECONOMIC DEVELOPMENT AUTHORITY MEETING OF OCTOBER 17, 2005 The meeting was called to order by Mayor Fran Miron at 8:30 am. Present: Arcand, Klein, Bever Absent: Miron, Granger, Skarich, Charpentier Community Development Director, Bryan Bear Community Development Intern, Andrew Gitzlaff 2. EDA MEETING OF AUGUST 15, 2005 The EDA did no 3. 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. 3. PRESENTATION FROM THE SCOTT MARTIN FROM THE TWIN CITES COMMUNITY CAPITAL FUND ON ECONOMIC DEVELOPMENT FINANCING SOURCES 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 participate in the program. 4. UPDATE OF AUGUST 23, 2005 MEETING OF THE TIF SUBCOMMITTEE City staff, Mikaela Huot and Paul Steinman of Springsted, and the subcommittee met on August 23, 2005. Subcommittee member Theresa Charpentier was unable to attend. The following items were discussed at the subcommittee meeting: 1.) The procedural requirement that must be followed during the initial district testing phase in order to meet state qualifications for the establishment of a TIF redevelopment district. 2.) The proposed timeline for establishing the district and the creation of a financing plan. 3.) The different means by which the public can be informed about TIF and the important role TIF will play in the success of the downtown plan, and how the establishment of the district may affect residents and business owners within the district. At the meeting, Paul Steinman of Springsted, the City's Financial Advisor, and City staff presented an overview to the EDA and Council on tax increment financing and the procedural requirements that must be met and discussed strategies on how to market the TIF district and the next phase of the downtown plan to community members. The EDA and the Council directed the TIF subcommittee to work on finalizing a communication and marketing plan for the implementation phase of the downtown redevelopment project and the establishment of the TIF district. 5. SITE PLAN REVIEW FOR ONEKA PET RESORT At the July 18, 2005 EDA meeting the EDA recommended that the City sell the 1.1 acre "Rink -Tec" property located in the Bald Eagle Industrial Park to Oneka Pet Resort, owned by Guy and Cindy LaBarre. Oneka Pet Resorts 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. Oneka Pet Resort submitted a preliminary site plan for review by the EDA at the meeting as part of the conditions of approving the final purchase agreement. City staff presented an overview of the proposed site plan to the EDA and the City Council and recommended that the EDA and the Council review and comment on the proposed site plan. Granger made motion, Klein seconded to recommend approval of the proposed site plan to the City Council. All aye. Motion Carried 6. UPDATE ON CITY PURCHASE OF CARPENTERS RESTAURANT AND THE ANTIQUE STORE FROM MIKE AND CATHERINE ANDERSON Staff informed the EDA and Council that recent negotiations have been successful and that Andersons have agreed to sell to the City, both Carpenters restaurant and the antique store. At the September 6, 2005, City Council meeting the Council approved the purchase of both properties in the amount of $687,000. This includes a price of $347,000 for the antique store and $340,000 for the Carpenters restaurant, which is consistent with evaluations of City Assessor Frank Langer. There will be a two-year lease back to the Andersons at no cost, and they would continue to operate the restaurant on a month-to- month basis, in order to allow the flexibility of the City to continue negotiations with the developers on the Egg Lake development project. Granger made motion, Klein seconded to direct staff to meet with the other property owners along the western edge of Egg Lake to find out if they would be interested in selling their properties to the City. All aye. Motion carried. 7. APPOINTMENT OF REPLACEMENT MEMBER TO THE TIF SUBCOMMITTEE City staff informed the EDA and the Council that Theresa Charpentier will be vacating her position on the TIF subcommittee. Mrs. Charpentier has recently started a new job and does not have enough available time to participate in the subcommittee. City staff recommended the City Council and the EDA appoint a replacement member to the TIF subcommittee. Arcand made motion, Bever seconded to appoint Phil Klein to the TIF Subcommittee All aye. Motion carried. 8. ADJOURNMENT Granger made motion, Bever seconded to adjourn the EDA meeting at 10:20 All aye. Motion carried. Haas mane motion, Granger seconded to adjourn the City Council meeting at 10:22 All aye. Motion carried.