04/04/2002 EDAC Minutes - Laserfiche WebLink

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1 APPROVED CITY OF LINO LAKES ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES DATE: Thursday, April 4, 2002 MEMBERS PRESENT: H. Juni, T. Vacha, F. Chase, J. Schwartz, D. Gorowsky, MEMBERS ABSENT: R. Jensen, J. Milbauer, B. Hicks, K. Hansmann OTHERS PRESENT: D. Carlson, M. Divine GENERAL/MINUTES Minutes of March 7, 2002 were approved. UPDATES Redevelopment Districts: Ms. Divine advised the committee that staff proposed to the council that an engineering firm be hired to provide an assessment of the potential for creating two TIF Redevelopment Districts in the Town Center. The council agreed it was worth exploring and staff will bring back a proposal for the council to consider. Council asked for EDAC’s input on the issue. Ms. Divine showed a map with proposed boundaries of the two districts. One district would be comprised of the Tagg property and the overpass of 35W. This would provide potential for public assistance with the Village development, and a funding source for the city’s portion of the 35W bridge reconstruction. The second potential redevelopment district includes properties north of 35W near the Target project. The area is zoned commercial but consists mostly of homes. Several of the homes are for sale. A development proposal could provide an opportunity for removal, and realignment of Lilac Street to match up with the northern access to Target. These types of analyses are required for a Redevelopment TIF District. Seventy percent of the area must contain improvements, meaning structures, driveways, etc., and of the parcels with improvements, 50 percent must be found to be structurally substandard. The engineering report will be the documentation needed to justify such a district. Ms. Divine has asked SEH to provide a proposal for the project.