HomeMy WebLinkAbout[06b] Solicitation of Projects •
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MN' 4F ST. JOSEPH Council Agenda Item
6(b)
MEETING DATE: August 5, 2010
AGENDA ITEM: EDA Reports
b. Solicitation of project
SUBMITTED BY: EDA
BOARD /COMMISSION /COMMITTEE RECOMMENDATION: The EDA is looking to solicit interest
from business owners and entrepreneurs who are ready to develop and need assistance.
PREVIOUS COUNCIL ACTION:
BACKGROUND INFORMATION: See attached press release
ATTACHMENTS: Request for Council Action 6:1 -2
Proposed Contract 6:3
REQUESTED COUNCIL ACTION: Provide the staff with direction as to whether to proceed with contract
review and implementation or to decline the services.
6:1
CITY OF ST. J OSEPH
www. cityo f stjoseph.com
PRESS RELEASE
Input on Available Stimulus /Jobs
Administrator Creation Programs Sought
Judy Weyrens
Mayor St. Joseph, Minnesota: July 29, 2010
Al Rassier
Contacts: Dale Wick, St. Joseph EDA Chairperson (320- 363 -7201)
Councilors Judy Weyrens, St. Joseph City Administrator (320- 363 -7201)
Steve Frank Cynthia Smith - Strack, St. Joseph Economic Development Director (612- 232 -7399)
Bob Loso Traci Ryan, TIF Consultant (320- 352 -2898)
Renee Symanietz
Dale Wick The St. Joseph Economic Development Authority (EDA) is seeking input from business owners
and entrepreneurs ready to take advantage of temporary legislation designed to create jobs. On
EDA April 1, 2010 Minnesota Governor Tim Pawlenty signed into law the Minnesota Jobs Bill (HF
Carolyn Yaggie— 2695/SF 2568). The bill contains a number of provisions relating to economic development tools
Heinen that are potentially beneficial to cities.
Ken Jacobson
Al Rassier The St. Joseph EDA would like to hear from entrepreneurs and business owners who are
Tom Skahen interested in construction or expansion within the next year. St. Joseph EDA Representatives
Dale Wick would like to take advantage of the following job creation mechanisms authorized by the Mn. Jobs
Bill, subject to approval by the City Council:
• Temporary expanded authority to use economic development tax increment financing for
non - industrial /technology uses. Projects must begin by July 1, 2011.
• In conjunction with the expanded TIF authority, use of excess TIF revenues to assist
private development by July 1, 2011.
• Establishment of a compact development tax increment financing district.
St. Joseph EDA Chairperson Dale Wick says "The temporary job creation measure is a rare
opportunity and a strong incentive for anyone seriously contemplating business start-up or
expansion. In St. Joseph we'd like to maximize that incentive by grouping several projects into .
one overall package."
Business owners and entrepreneurs that would like to Team more about the temporary incentives
are encouraged to contact the St. Joseph EDA. "We are fortunate to have a strong core of
businesses and a variety of industries within the City of St. Joseph" says Mayor and EDA Board
Member Al Rassier. "We also know that construction was a driving force in our local economy
that has suffered since the downturn. This is a limited -time opportunity that can potentially benefit
our strong businesses, our entrepreneurs, and our construction workers ".
The economic development incentives available through the St. Joseph EDA are scheduled to
expire on June 30, 2011.
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