Laserfiche WebLink
Approved <br />CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT <br />ADVISORY COMMITTEE <br />MINUTES <br /> <br />DATE: Thursday, December 6, 2007 <br />MEMBERS <br />PRESENT: J. Helgemoe, J. Schwartz, M. Keller, K. Corson, K. Lodico, <br />MEMBERS <br />ABSENT: J.Milbauer, M.C. Pap, B. Combs, J. Kuschke <br /> <br />OTHERS <br />PRESENT: M. Divine <br /> <br />GENERAL/MINUTES <br />Minutes of August 2, 2007 were approved. <br /> <br />Business Expansion and Retention <br /> <br />Members reviewed the final draft of the business survey and suggested minor changes. <br />Ms. Divine stated she would take the draft survey to a local work session before sending it out. <br /> <br />Comprehensive Plan Advisory Panel Update <br /> <br />Comprehensive Plan Advisory Panels members updated EDAC on the process of considering <br />changes in land use to the new plan. Ms. Schwartz and Ms. Keller said the consultants and staff <br />empowered the panel by taking their input and considering their suggestions. Northeast along <br />I35E, Birch and Centerville Road, Hodgson and Lake, north of Town Center, the intersection of <br />14 and Lake, and the Robinson Sod Farms were among the areas studied, and studied what <br />would be compatible. <br /> <br />Wrap up for 2007 <br /> <br />Members discussed the housing market from the perspectives of their occupations. While a <br />serious issue, foreclosures remain a minor percentage of bank loans. A larger problem is <br />developers with large land parcels that are walking with partially finished projects. <br /> <br />77th Street/Anderson Builders: Ms. Divine outlined the results of the loss of the Anderson <br />Builders project on 77th Street. After the land sale, costs of securing land for the road <br />realignment, the cost of reconstruction and loan payback on the city property, the city would <br />have approximately $2.8 million in new market value, two houses removed, and an estimated <br />Phase 1 of $2.8 million in commercial market value, and a small net profit to the city. Without <br />the sale of city land to the developer, no funds are available for the city to secure the houses or <br />construct the road, there are no assessments to potential benefiting properties, and the corner <br />house on 77th Street would remain. <br /> 1