HomeMy WebLinkAbout02-25-16 MINUTE S
ECONOMIC DEVELOPMENT AUTHORITY
Regular Meeting
February 25, 2016
1. CALL TO ORDER
The meeting was called to order by Chair Larson at 6:30p.m.
Members Present: Jolley, Larson, Bonar, Wilson, Zeaman, Cordes, Corraro (7:10 p.m.)
Members Absent: None
Also Present: Adam Kienberger, Community Development Director, Chris Kulus, FBA President
2. PLEDGE OFALLEGL4NCE
3. ROLL CALL
4. APPROVE AGENDA
MOTION by Bonar second by Wilson to approve the Agenda. APIF,Motion Carried.
5. CITIZEN COMMENTS/PRESENTATIONS
6. CONSENT AGENDA
MOTION by Jolley second by Bonar to approve the Consent Agenda as follows:
a) Meeting Minutes—January 28, 2016 Regular Meeting
b) Monthly Statements
APIF,Motion Carried.
7. PUBLIC HEARINGS
8. DISCUSSION ITEMS
a) Annual Organizational Items—
1) Election of Officers—Motion by Wilson second by Cordes to retain the current status with
Larson as Chairperson and Jolley as Vice-Chairperson. Voting For: Bonar, Wilson,Zeaman,
Cordes,Abstain: Larson, Jolley,Motion Carried.
2) Meeting Schedule—Motion by Cordes second by Wilson to approve the meeting schedule as
the 4th Thursday of each month at 6:30PM. If Thursday is a holiday the meeting would be held
on the prior day. APIF,Motion Carried.
3) Acknowledge Official Newspaper—The Farmington Independent is the City's official
newspaper. Motion by Wilson second by Cordes to approve the 2016 Economic Development
Authority By-laws. APIF,Motion Carried.
b) Downtown Redevelopment Plan Update—Director Kienberger reviewed information from the Task
Force with the members. The final meeting will be held late March or early April. The EDA will have
a role in the implementation of the plan. Member Wilson noted that parking is an issue that needs to be
considered in this plan. Zeaman asked about the rental rates in the report. Director Kienberger stated he
would look into where this information came from.
c) TIF/Tax Abatement Policy Discussion When considering how to formulate these policies some
discussion questions include:
• For economic development TIF assistance—number of jobs to be created per dollar of subsidy
(see Lakeville's policy for one example).
EDA Minutes(Regular)
February 25,2016
Page 2
• Wages of jobs being created with public assistance (refer to our current Business Subsidy Policy)
• Completed valuation of project to receive TIF or Abatement(see Apple Valley's policy).
• For a housing TIF district—maximum length of the district and affordability requirements (see
Dakota County CDA's housing finance policy)
• Should all costs associated with application and administration be borne by the applicant?
The EDA agreed that the applicant should pay administrative fees. Staff will work with the City
Administrator, Finance Director and financial advisor to create a TIF and Tax Abatement policy to bring
back for further discussion. Member Wilson noted that we really need a policy in place for TIF.
Discussion about policies took place with various ideas expressed. Consensus was they are all
supportive of a TIF policy that shows support with minimum qualifiers. Bring sample policy to City
Council and School Board for discussion.
d) Trident Affordable Senior Housing TIF Request—Director Kienberger discussed the request for TIF
from Trident Development. TIF is being requested for the 70 unit senior assisted living rental housing.
They are requesting a 25 year TIF district for the purpose of creating and maintaining the affordable
units now and into the future. The Commission is excited for the project and agrees with continuing to
move this forward.
9. DIRECTOR'S REPORT
February Director's Report
a) State of the City—State of the City has been scheduled for March 7th at 1:00PM at the Ground Round
b) EDA Board Fundamentals—Director Kienberger included some reading materials for the Commission.
c) Planning Commission/Comp Plan Meeting—The EDA will be provided updates and will be asked to
participate throughout the update process.
d) 2016-2018 Strategic Plan for Economic Development—The EDA's 2016-2018 Strategic Plan for
Economic Development was provided to the members for reference.
e) Next meeting will be on Thursday, March 24 at 6:30PM.
10. ADJOURN
MOTION by Wilson, second by Cordes to adjourn at 8:06PM p.m. APIF,Motion Carried.
Respectfully submitted,
Sue Miller
Administrative Assistant