HomeMy WebLinkAbout07-28-16 MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
Regular Meeting
July 28, 2016
1. CALL TO ORDER
The meeting was called to order by Chair Larson at 6:30 p.m.
Members Present: Larson, Bonar,Cordes, Corraro,Jolley,Wilson
Members Absent: Zeaman(Resigned)
Also Present: Adam Kienberger, Community Development Director
2. PLEDGE OFALLEGLANCE
3. ROLL CALL
4. APPROVE AGENDA
MOTION by Jolley,second by Wilson to approve the Agenda. APIF,MOTION
CARRIED.
5. CITIZEN COMMENTS/PRESENTATIONS
6. CONSENT AGENDA
MOTION by Cordes, second by Corraro to approve the Consent Agenda as follows:
a) Approved Meeting Minutes(6/23/16 Regular Meeting)
b) Received Monthly Statements
APIF,MOTION CARRIED.
7. DISCUSSION ITEMS
a) 2016-2018 Strategic Plan for Economic Development Update
The"developing tools for economic development" include a TIF policy which has
been officially adopted as a tax incentive. Staff will be bringing forward a tax
abatement policy as a tool for economic development.
Regarding development of Vermillion River Crossing, staff has received a
proposal from Hy-Vee. A public hearing for this proposal will be held at the
August 16,2016,Planning Commission meeting. Hy-Vee will be purchasing
outlots A, C and the credit union site. Currently staff is working on site plan
approval,preliminary plat and a conditional use permit. Council will consider
approval on September 19,2016. Staff is proposing a business subsidy agreement
for the outstanding deferred assessment on the property per the original
development agreement.
Another portion of the strategic plan is to define and utilize existing resources of
the EDA. This pertains to how the EDA is funded. Staff will bring funding ideas
back to the EDA later in the year.
EDA Minutes(Regular)
July 28,2016
Page 2
b) Downtown Redevelopment Plan Implementation—Rambling River Center
Plaza
Four of the eight bike racks have been installed. Another concept in the plan is
development of a public plaza. This has centered around the open area and
parking lot by the Rambling River Center. The consultant developed four
different concepts. EDA members were in favor of this location for a public plaza
and agreed on concept number two.
c) Xcel Energy Certified Site Program
Xcel is looking for large sites to market nationally for attracting big developments
that are attractive for them. They are looking for sites larger than 25 acres for
industrial development. Staff has contacted a land owner and put them in touch
with Xcel.
d) Trident TIF Agreement Consent and Estoppel Authorization
Trident has requested the EDA authorize this agreement for their financing.
MOTION by Bonar,second by Wilson to authorize executing the Consent and
Estoppel Certificate. APIF,MOTION CARRIED.
8. DIRECTOR'S REPORT
a) July Director's Report
Trident's development will be called Legacy of Farmington. Trident has received
all required approvals and plan to start construction in the coming weeks.
The city is eligible for a Met Council grant to receive assistance with comp plan
work and the City Council has authorized staff to apply for the grant. Staff is
working on a timeline for the comp plan update process.
9. ADJOURN
MOTION by Bonar,second by Cordes to adjourn at 7:35 p.m. APIF,MOTION
CARRIED.
Respectfully submitted,
Cynthia Muller
Administrative Assistant