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1 <br />APPROVED <br />CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT <br />ADVISORY COMMITTEE <br />MINUTES <br /> <br />DATE: January 3, 2013 <br />MEMBERS <br />PRESENT: J. Stranik, D. Johnson <br />MEMBERS <br />ABSENT: B. Combs, L. Masonik, C. Wagner, J. Schwartz, L. Thor, M. Kassner, B. Tereik <br /> <br />OTHERS PRESENT: M. Divine, Tom Colgan (F&M Bank) <br /> <br />APPROVAL OF MINUTES <br />The minutes of October 4, 2012 were held over due to lack of a quorum. <br /> <br />DEVELOPMENT PROPOSALS <br /> <br />LINO LAKES ASSISTED LIVING <br />Ms. Divine told members that Lino Lakes Assisted Living had revised its offer on the parcel next <br />to its existing facility that is within reach of the county’s assessed market value. Its plan is to <br />build 36 units of memory care. Staff and bond counsel have met with the Anoka County attorney <br />using this offer as an example of the uncertainty that the county’s administrative fee policy <br />causes the city and a developer when it comes to finalizing a deal. Staff proposed the county set <br />a specific fee that is reasonable for this single property so that the project could move forward <br />with more certainty. The county attorney agreed to revisit the county’s policy and will get back <br />to the city regarding this issue. The next step, once that is resolved, is to propose a purchase of <br />the property and have the county board decide if it will accept the offer. If the county agrees to <br />the suggested fixed administrative fee and the purchase offer, the purchase price will cover the <br />outstanding assessments on the property. <br /> <br />Ms. Divine asked members its consensus for moving forward with this use on the parcel. <br />Members concurred that a) the use was already there and therefore expansion should not have <br />negative impact on the surrounding area; b) it is best to take advantage of the market since <br />activity is better than no activity; and c) the use helps people to stay in the community near their <br />families. <br /> <br />DOMINIUM <br />Ms. Divine informed the committee that as a result of “fiscal cliff” legislation, a fixed tax credit <br />that was due to expire was extended for affordable housing, which gave the affordable <br />townhome project better prospects of moving forward, with the city collecting at least a sizable <br />portion of the outstanding assessments on the parcel or parcels that would be purchased. A <br />number of other funding sources will need to fall into place, including an agreement by the <br />county to sell the land for less than fair market value. Statutes provide counties that option for <br />affordable housing. Members suggested touring other Dominium projects if this moves forward.