05-13-2002 EDA MIN - Laserfiche WebLink

Home Browse Search

Economic Development Authority Minutes May 13, 2002 Page 3 objective and eligibility to receive tax rebate financing. Catherine reported that the developer has also submitted a request to Sherburne County for $200,000 in tax rebate financing. John VG'eicht talked about the proposal and the building that will be built on the site. Catherine reported the developer has proposed to include an energy efficient geothermal heating and cooling system, which contributes to the city's Energy City efforts. Commissioner Klinzing discussed the issue of job creation and the possibility that some of the jobs created would be moving from other locations within the city. Commissioner Klinzing indicated chat she supports this project because of the lack of this type of rental space in the city and the fact that it is a local developer proposing the project and felt that the new development in the West Business Park may spur-other development to the area. MAYOR KLINZING MOVED TO RECOMMEND THAT THE CITY COUNCIL APPROVE THE REQUEST FOR TAX REBATE FINANCING AS REQUESTED BY ELK PATH, L.L.C. COMMISSIONER DWYER SECONDED THE MOTION. Commissioner Dwyer stated that the landowner has made a significant investment to the infrastructure in the West Business Park, and because of the city's commitment to work with the landowner to develop the business park, he does not feel the city will be setting a precedent fox providing TRF to other office developments in the City. Commissioner Motin suggested capping the TRF amount to $200,000 or eight years, whichever comes earlier. Catherine stated the TRF would be provided annually to the developer upon receipt of taxes by the city. COMMISSIONER KLTNZING AND COMMISSIONER DWYER CONCURRED WITH THE ADDITION TO THE MOTION OF CAPPING THE LOAN AT $200,000 OR EIGHT YEARS WHICHEVER COMES EARLIER. THE MOTION CARRIED 7-0. 7.1. Marketing Activities Update Catherine Mehelich updated the EDA on current marketing efforts and prospects. 7.2. Catherine Mehelich reviewed a proposal from Anita Duckor & Associates for the update of the Strategic Industrial Marketing Plan, which was developed for years 2000 through 2002. Catherine noted that the cost to update the marketing plan has