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HomeMy WebLinkAbout2006 [07] Jul 19CITY OF ST. JOSEPH ECONOMIC DEVELOPMENT AUTHORITY Meeting Minutes -Wednesday, July 19, 2006 Present: EDA Board Members Ross Rieke, Carolyn Yaggie-Heinen and Tom Skahen. Absent: Carlbom and Jacobson. Also present: Cynthia Smith-Strack of Municipal Development Group. Chairperson Rieke called the July 19, 2006 meeting of the St. Joseph EDA to order at 3:05 p.m. Agenda. Chairperson Rieke introduced the agenda. Moved by Skahen seconded by Heinen to approve the agenda. Motion carried 3-0. Approval of Minutes. EDA Chairperson Rieke noted the minutes from the June 17, 2006 meeting were included in the packet. Motion by Heinen, seconded by Skahen to approve the June 17"', 2006 regular EDA minutes as presented. Motion carried 3-0. EDA Accounts Payable. Rieke introduced the topic. Strack noted accounts payable for the month included invoice for contract services in the amount of $2,152.$6. The total hours provided through June 30'h equal 200.25, on target for the projected 420 hours of service for the year. Motion by Skahen, second by Heinen to approve EDA accounts payable for the month of June 2006 in the amount of $2,152.86. Motion carried 3-0. Financial Report. Rieke introduced the agenda item. Strack noted the June financial reports were contained in the packet. Reports presented included: revenue, expense, check register and fund balance. Motion by Heinen, second by Skahen to approve the June financial reports. Motion carried 3-0. 2007 Preliminary Budget Rieke introduced the 2007 preliminary budget discussion noting the City Council would be holding budget meetings during the month of August in preparation for certification of the preliminary budget to the County by mid-September. Strack reviewed the budget worksheet with the EDA Board noting the following: Fund 150: Operating Fund for the EDA: The 2007 budget is proposed to be increased from $37,500 in 2006 to $45,650 in 2007. The increase proposed is due to the inclusion of $8,000 for membership dues to the St. Cloud Area Economic Development Partnership, a $1,000 increase for professional services and a few nominal miscellaneous increases. The 2006 approved budget did not include membership dues to the SCAEDP. Fund 155: TIF Fund for 1-3: The anticipated revenues and expenses reflect TIF revenue received in 2006. The City, via development agreement, is required to reimburse the developer 95% of the increment received. EDA Minutes-July 19, 2006 Page 1 Fund 156: TIF Fund 1-4: The anticipated revenues and expenditures are based on estimates. Actual numbers are dependent on assessed market value. The TIF beneficiary did not enter into an assessed market value agreement, therefore, the actual proceeds of the pay-as-you-go issue is less than included in the TIF budget included in the plan for 1-4. Fund 250: Revolving Loan Fund. The projected revenue for the revolving loan fund in 2006 is based on the amortization schedule for the Vicwest equipment loan. No expenses or loans have been budgeted as the fund currently (end of July) has a balance of $24,000. The fund balance by the end of calendar year 2007 should be over $42,000. Strack stated the budget adopted in December may be less than the preliminary budget, but it may not be higher than that certified in September. The EDA discussed the proposed budget and a desire to budget for the acquisition of first rights of refusal, property options, etc. to encourage renewal of areas with potential for redevelopment. The EDA discussed budgeting for such uses in 2007 as a capital expense. Motion Skahen, Second Heinen to Approve the Preliminary Budget with the Addition of $13,000 in a Capital Improvement Fund for the Pursuit of a Redevelopment Program and Potential Land Acquisition. Motion carried 3:0. Transportation Study Updates Rieke introduced the agenda topic. Strack reported there are three separate studies relating to transportation currently underway: (1) Corridor Study -Field Street extension; (2) Corridor Study - Northern east-west collector and extension of CSAH 3 to CSAH 2 and, (3) City transportation study looking at future collector streets and/or extensions of or connections to existing streets. Strack noted the Field Street study remained in the 'environmental review' phase. The Northern east-west study was proceeding with two meetings scheduled on July 27th. Both meetings will have similar agendas and will focus on gaining input regarding two alternatives for each the northern east-west corridor (alternatives 1 & 2 on the attached map) and the projection of CSAH 3 to CSAH 2 (alternatives 3 & 4 on the attached map). Perhaps of greatest significance to economic development within the City are the alternatives 3 & 4 of the projection of CSAH 3 to CSAH 2 (e.g. truck traffic, local access, aesthetics from I- 94). The City transportation study was initiated and a memo prepared and forwarded to the project stakeholders group. The EDA discussed the projects and noted a roundabout at the intersection of the projection of CSAH 3 to CSAH 2 was desirable. Rieke volunteered to attend the July 27th meetings to represent the EDA. Redevelopment TIF Area Rieke introduced the agenda item. Strack stated the EDA and City Council approved a preliminary application for the use of redevelopment tax increment financing in conjunction with a project proposed by Collegeville Development. Staff met with Collegeville Development Group representatives and TIF plan consultants to discuss the TIF Plan for Collegeville Development and potential boundaries for a municipal redevelopment district area. The municipal redevelopment district area is proposed to include the area identified which encompasses most of the CBD and a portion of the Highway 75 corridor renewal area. The TIF plan for the Collegeville Development project is not proposed to include the entire municipal redevelopment area, however, a map of the entire area will be included in the Plan. This will allow the City/EDA to focus its use of redevelopment TIF in a specified area. CSAH 75 Renewal Plan Rieke introduced the business item and suggested the item be placed on hold and carried over to the August meeting as Board Members had not completed an exercise to individually survey the corridor to choose areas which could be identified as priorities for redevelopment. EDA Minutes -July 19, 2006 Page 2 Director's Report. Strack distributed a request for proposals for the production of a market study by a qualified firm. The market study will provide insight into St. Joseph trade areas, the capacity of Downtown and CSAH 75 to absorb additional retail and office uses and the types/densities of housing units most complimentary to the Downtown area. Strack noted an SCSU intern had been selected and would be starting an internship shortly. Strack reported the plat for an additional 32 acres of industrial property was proceeding, an EAW for the project was being conducted and the BDPI grant application had been submitted. Board Member Announcements. Rieke updated Board Members on the SCAEDP meeting held earlier in the day. Adjournment Motion by Skahen, seconded by Heinen to adjourn. Motion carried 3:0. Meeting adjourned at 4:10 p.m. EDA Minutes -July 19, 2006 Page 3