HomeMy WebLinkAbout05-16-22 CITY OF FARMINGTON
ECONOMIC DEVELOPMENT AUTHORITY MINUTES
REGULAR MEETING
May 16, 2022
1. CALL TO ORDER
The meeting was called to order by EDA Chair Wilson at 6:07 p.m.
2. ROLL CALL
Members Present: Bernhjelm,Hoyt,Porter,Lien,Wilson
Members Absent: None
Staff Present: Lynn Gorski,City Administrator; Samantha DiMaggio,Community
Development Director; Kalley Swift,Community Development
Specialist
3. APPROVEAGENDA
MOTION by Hoyt,second by Porter to approve the Agenda.APIF,MOTION CARRIED.
4. CONSENT AGENDA
a) Meeting Minutes(April 18, 2022 Regular Meeting)
b) Monthly Financial Statement
MOTION by Bernhjelm,second by Hoyt to approve the consent agenda.APIF,MOTION
CARRIED.
S. DISCUSSION ITEMS
a) Business Subsidy Policy-2022 Policy Update
Director DiMaggio reviewed the proposed update to Farmington's business subsidy policy.
The EDA originally began discussion on this topic at their Regular meeting in February
2022.Minnesota State Statute dictates a lot of what is allowed within a business subsidy
and our proposed policy reflects that.Discussion was had regarding wage and job creation
and the maximum amount of subsidy per job created.One option is to have the maximum
amount of subsidy be equal to the annual salary of the jobs being created that comply with
the wage requirement.The EDA discussed this option and decided that having a maximum
amount of subsidy outlined in this manner was not ideal.Discussion continued about the
benefits of having a business subsidy in place and how it can help attract businesses in and
put in essential infrastructure like roads,water,sanitary sewer,etc.Discussion continued
about how a business subsidy does not have to occur with all new business coming into
Farmington,but that it can help spur spinoff development.
The EDA would like to see the policy reworked to combine business incentives like tax
abatement and TIF into one business subsidy policy and bring it forward to a public hearing
as the next step of action.This will allow for one policy document and one application
document when a business is looking for an incentive.City staff will schedule a public
hearing for policy adoption.
6. DIRECTOR'S REPORT
Director DiMaggio reviewed the Open To Business report from the first quarter of 2022.
Ten Farmington businesses and six Farmington residents utilized this free program.City
Economic Development Authority Minutes Page 1 of 2
Regular Meeting
May 16,2022
staff also reviewed our available properties webpage on our website hosted through LOIS.
This site highlights both buildings and land for sale or available within the city. City staff
encouraged the EDA to direct people to this website when they are interested in coming
into Farmington and to let city staff know of additional listings to add onto the webpage.
7. ADJOURN
MOTION by Bernhjelm,second by Hoyt to adjourn at 6:47 p.m. APIF,MOTION CARRIED.
Respectfully submitted,
Kalley Swift
Community Development Specialist
Economic Development Authority Minutes Page 2 of 2
Regular Meeting
May 16,2022