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HomeMy WebLinkAbout2007 [04] Apr 18CITY OF ST. JOSEPH ECONOMIC DEVELOPMENT AURTHORITY Meeting Minutes -Wednesday, April 18, 2007 Present: EDA Board Members Richard Carlbom (tardy), Ken Jacobson, Tom Skahen, Dale Wick and Carolyn Yaggie-Heinen. Also present: Cynthia Smith -Strack of Municipal Development Group. Vice Chairperson Jacobson called the April 18, 2007 meeting of the St. Joseph EDA to order at 3:04 p.m. Agenda. Vice Chairperson Jacobson introduced the agenda. Moved by Skahen seconded by Wick to approve the agenda as presented. Motion carried 4-0. Approval of Minutes. Vice Chairperson Jacobson introduced the minutes from the March 21, 2007 meeting. Carlbom joined the meeting. Motion Wick, Seconded Heinen to approve minutes from the previous meeting. Motion carried 5-0. EDA Accounts Payable. Carlbom introduced the topic. Strack noted the correct invoice amount was $2,333.13 and that accounts payable for the month totaled $2,471.88. Motion by Wick, second by Skahen to approve the EDA accounts payable for the month of March 2007 in the amount of $2, 471.88. Motion carried 5-0. Financial Report. Carlbom introduced the agenda item. Strack noted the March financial reports were contained in the packet. Reports presented included: revenue, expense, check register and fund balance. Jacobson inquired about the revolving loan fund balance. Strack noted audit was being completed by City Auditor but had not yet been presented to the City Council. Strack to find out when audit presentation likely and report back at the May meeting. Motion by Heinen, second by Wick to approve the March financial report as presented. Motion carried 5-0. Industrial Park Update. Carlbom introduced the agenda item. Strack noted that at the March meeting the EDA requested information regarding: (a) cost estimates/price points for new industrial lots within the area; (b) potential use of TIF to assist with installation of utilities; and, (c) existing prospects regarding development schedules. Strack stated that industrial land prices as pulled from public advertisements, postings and qualified land sales ranged from $2.75 (Cold Spring) to $1.25 & $1.75 in Airport Industrial Park and the Opportunity Drive area both in St. Cloud. The most recent sale of industrial land in St. Joseph was $0.90 per square foot. Strack noted she spoke with a TIF consultant who noted a common approach is for the EDA to plat the land. The City bonded for and installed the infrastructure, the EDA market the property and, 100% of the increment is then used to pay administrative costs and retire the debt. This involves little, if any direct TIF assistance to developers, instead TIF is used to reduce assessment costs. The big risk to the City is that if the park doesn't build out to the extent that increments cover the bond payments, the City will need to levy for the shortfall. If need be, the City could stack local abatement on the back end of the issue to provide additional business incentives. JOBZ can't be used with this scenario. EDA Minutes -April 18, 2007 In addition, follow up with active development leads reveals three have potential to move forward this year, perhaps in St. Joseph. The EDA discussed the information provided and reached consensus in deciding to delay further action on the concept of the EDA developing industrial lots until the fall of this year. Economic Development Plan (Comprehensive Plan) Update: Carlbom introduced the agenda item. Strack noted that one of the EDA's goals for 2007 was to update the Economic Development Plan included in the 2002 Comprehensive Plan. At the March meeting the Board reviewed statistical information and trend data related to the local economy. Board members requested an opportunity to reflect on the data prior to reviewing specific comprehensive initiatives, goals and strategies. The packet including potential comprehensive initiatives, goals and strategies for EDA review and discussion. The EDA discussed potential initiatives, goals and strategies as presented and then reached consensus in forwarding the draft economic development update to the Planning Commission for consideration. Communications Committee and Televising of Meetings: Carlbom reviewed the details of the formation of a Communications Committee for the City of St. Joseph. The purpose of the committee is to help provide information to the public and to manage the gathering and distribution of information. Carlbom noted he invited an EDA Board Member to be a part of the committee at the previous meeting and wished to do so again today. Carlbom also stated that no further discussion had occurred regarding televising meetings and the communications committee had not yet met. The EDA discussed potential interest in serving on the committee. The interest level was tepid with some Board Members requesting more time to consider. Significant Estimated Market Value Increases: Carlbom. introduced the topic noting that the City Council was recently informed by Stearns County that following a citywide market value assessment some property owners especially commercial property owners will soon be informed of significant valuation increases. In an attempt to be proactive the City has ordered the County to mail notices to affected property owners prior to mailing estimated valuation statements. The notices were recently mailed soon. The notice invites property owners to meet one-on-one with County officials regarding estimated market values prior to the Board of Adjustment/Review meeting hosted by the County. Carlbom noted this agenda item was for Board Member information as they will likely either be personally impacted or hear from someone who is. Jacobson and Heinen noted receipt of mailed notice and significant increase in estimated market value. Board Member Announcements. Mayor Carlbom introduced the topic. Strack noted Urban Enviorns Work Group had just about completed draft of design guidelines for the Downtown. The EDA would be reviewing at their May meeting. In addition Strack reminded Board Members to complete their surveys and return to McComb Group as soon as practical. Finally Strack noted public hearing on Mill Stream Shops and Lofts would be held on May 3`d. Ground-breaking expected shortly thereafter. Carlbom announced the Sauk River Watershed District delayed action on the new school's site plan. In addition Carlbom noted the St. Cloud Area Economic Development Partnership was opening an opportunity for an intern. Wick noted the Promotions Work Group had recently met and was actively completing a promotions plan. EDA Minutes -April 18, 2007 Wick noted ground-breaking for new school was scheduled for May 3~d Adjournment. Meeting adjourned by consensus at 4:20 PM EDA Minutes -April 18, 2007