11-14-2005 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 3 November 14, 2005 President Gongoll stated that he welcomed Mr. Jacobs to Elk River. Commissioner Tveite asked how the timing of the lease expiration would coordinate with the opening of the new facility. Mr. Jacobs stated that he will extend his lease on a month- to-month basis to July 1, 2006. MOTION BY COMMISSIONER TVEITE, SECONDED BY COMMISSIONER GUMPHREY TO RECOMMEND TO THE COUNCIL APPROVAL OF PROVIDING TAX REBATE FINANCING (TRF) ASSISTANCE TO QUALITY LABEL, INC. IN THE AMOUNT OF $133,947 WITH THE COMPANY RECEIVING 100 PERCENT OF THE CITY'S ANNUAL TAX REVENUE FOR A MAXIMUM PERIOD OF UP TO 10 YEARS, AND WITH THE REQUIREMENT THAT THE COMPANY COMMIT TO CREATION OF 15 NEW FULL-TIME POSITIONS AT A MINIMUM HOURLY WAGE, EXCLUSIVE OF BENEFITS REQUIRED BY LAW, OF $15.00, WITHIN TWO YEARS. THE MOTION CARRIED 6-0. 8. Other Business A. Community Development Director Update Community Development Director Scott Clark discussed plans for a future forum to review the development process. Commercial/residential developers and lenders will be invited to pro~tide constructive criticism and ideas for improving the development process. Mr. Clazk stated that the City needs to convey cleaz and concise expectations to developers and establish a communication "bridge" for the developer to work with the various departments/divisions whIle moving through the development process. He stated that individuals currently can enter the process three different ways; the Building Di~7sion, Economic Development Division, or the Planning Division. Mr. Clark stated that it should be the City's goal for a developer to be able to say Elk River is a good uty to work with. He stated that the EDA would be kept informed of plans for the forum. B. Downtown Update Ms. Mehelich stated that all four buildings on the Bluff Block site have been removed. Staff is in the process of resolving building pemut issues. She stated that the developer is not sure when construction will begin on the Jackson Block, and that it may not be until Spring 2006. Ms. Mehelich noted that the King Avenue parking lot seems to be working well. Commissioner Tveite asked how the presale of units was going for the Bluff Block. Ms. Mehelich stated that 16 condominium units have been sold and that a brokers' open house will be held in the future to promote the retail space. Ms. Steinmetz noted that Parks and Recreation Director Bill Maertz indicated that construction of the downtown park will also begin in Spring 2006. Commissioner I{]inzing asked what the timeline was for the Bank of Ells River expansion project. Commissioner Dwyer stated that the bank plans to start construction as soon as possible and that construction documents will be completed by the end of 2005. He stated that they hope to begin construction in February. The $4.1 million project includes a two-