HomeMy WebLinkAbout[06c] Project/Program UpdatesCITY OF ST. jOSI/PH
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Administrator
Judy Weyrens
Mayor
Al xassier Date: March 18, 2009
councilors Memo To:
Steve Frank
Bob Loso
Renee symanietz Memo From
Dale Wick
EDA Members
City Administrator Weyrens
Cynthia Smith-Strack, MDG, Inc.
RE: Project Updates
Background:
Following are a few updates on projects we've been addressing:
1. At the previous EDA meeting as a result of a conversation with Joe Walz and Brian
Anderson information regarding infrastructure funding options was assembled and
emailed to the project contacts. The information was broad in scope, divided by
jurisdiction, and for information only as follows:
Local Assistance
Issuance of an Assessment Bond (under Mn. Statute 429). This financing
method places the cost of improvements on benefiting properties. For new
developments, the City requires a financial guarantee equal to 80% of the
improvement costs be filed with the City. The financial guarantee protects
the public from risk associated with non-successful new development
projects.
Tax Increment Financing -Economic Development District. Under the
City's policy, this program is dependent on the construction of a new
facility. Proceeds from new taxes paid can be rebated to off-set pending
assessments. Maximum term of tax rebate is eight years.
Tax Abatement. Same concept as TIF, however, County and School
District have option of participating. Term can be longer than TIF.
State Assistance
Business Development/Infrastructure Grant Program. This program is
occasionally funded through an allotment from the biennial budgeting
process. Small amount of 2007-08 allotment remains. 2009-10 budget is
not fixed at this time. The
Public Facilities Authority (PFA). The Minnesota Public Facilities Authority
(PFA) is responsible for the administration and financial management of
three revolving loan funds and other programs to assist local governments
and others with the construction of public infrastructure. The PFA if used
for economic growth is limited to a low interest loan (not a grant).
Federal Assistance
The 2009 Recovery Act includes $150 million for the U.S. Economic
Development Administration to provide grants to economically distressed
areas across the Nation to generate private sector jobs. Priority
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CITY OF ST. JOSEPH
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consideration will be given to areas that have experienced sudden and
severe economic dislocation and job loss due to corporate restructuring.
2. Stearns County Assistant Engineer Jodi Teich reports right of way acquisition for
the CSAH 2 segment is expected to begin this year. Actual construction may be
delayed until 2010.
3. The City Council authorized the Comprehensive Sanitary Sewer Study for the area
west of the current corporate limits. The study will provide crucial information for
persons interested in development in the vicinity of CSAH 2 and I-94.
4. The Planning Commission held agoal-setting session last month. The PC's priority
project is working with the Township regarding annexation, including a pending
plat submitted by the College and Monastery. A second work item for the year will
be updating the 2006 Transportation Plan which was accepted by the City Council
but not formally approved.
5. New Business. The Planning Commission and City Council are reviewing a
request submitted by David Fimrite for a special use permit to operate a trailer
sales establishment at the intersection of CSAH 75 & 8'h Avenue.
Action:
This item is for information only.
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