HomeMy WebLinkAbout[05b] Minnesota Jobs Bill •
CITY OF ST. JOSEPH
wvw.cityof stjoseph.com
DATE: August 18, 2010
MEMO TO: St. Joseph Economic Development Authority
Administrator FROM: Cynthia Smith - Strack, Municipal Development Group
Judy Weyrens
RE: State Jobs Bill Incentives
Mayor
Al Rassier Background
As discussed at previous EDA meetings, the Minnesota Jobs Bill signed into law by Governor
Councilors Pawlenty on April 1, 2010 bill contains a number of provisions relating to economic development
Steve Frank tools that are potentially beneficial to cities including:
Bob Loso
Renee Symanietz a. The establishment of compact development districts which function like redevelopment TIF
Dale Wick districts but do not require a finding of `substandard building' to be eligible.
EDA b. The creation of economic development districts for use by businesses not included in
Carolyn Yaggie— manufacturing, industry, or technology.
Heinen
Ken Jacobson c. The temporary authority to use excess revenue in existing TIF districts withheld for
Al Rassier administration of the district for uses external to the district.
Tom Skahen
Dale Wick As directed by the EDA Board a press release (copy attached) regarding business owners potentially
interested in expanding was drafted and distributed to local media outlets (i.e. St. Cloud Times, The
Newsleader, WJON), the St. Joseph Chamber of Commerce, and real estate contacts (i.e.
Minnesota Commercial Association of Realtors via the St. Cloud Area Economic Development
Partnership). As of the drafting of this memo no additional prospects have contacted the City.
While creation of a new TIF district would be dependent upon projects moving forward, the EDA
does have temporary authority to use excess TIF revenue in existing districts withheld for
administration purposes for economic development purposes external to the district.
I will provide an update on several potential project leads (confidential) at the EDA meeting as
requested.
Action:
Additional discussion on this item is kindly requested.
P CITY OF ST. J OSEPH
www. cityo(stjoseph.com
PRESS RELEASE
Input on Available Stimulus/Jobs
Administrator Creation Programs Sought
Judy Weyrens
Mayor St. Joseph, Minnesota: July 22, 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 St. Joseph
business owners and entrepreneurs ready to take advantage of temporary legislation designed to
EDA create jobs. On April 1, 2010 Minnesota Governor Tim Pawlenty signed into law the Minnesota
Carolyn Yaggie— Jobs Bill (HF 2695/SF 2568). The bill contains a number of provisions relating to economic
Heinen development tools 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 learn 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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