HomeMy WebLinkAbout052295 Special CITY COUNCIL
SPECIAL MEETING
AGENDA
MAY 22, 1995 - 5:30 P.M.
I. CALL TO ORDER
II. ROLL CALL
III. CONDUCT PUBLIC HEARING ON TAX INCREMENT DISTRICT NO. 2-5
A. Consider adoption &Resolution 95-44 approving Tax Increment Financing
District No. 2-5 and the use of Tax Increment Financing
IV. APPROVE DEVELOPMENT AGREEMENT WITH ED MALONE
V. CONSIDER APPROVAL OF THE COMMUNITY DEVELOPMENT FUNDING
APPLICATION TO THE MINNESOTA DEPARTMENT OF TRADE AND
ECONOMIC DEVELOPMENT AND ASSOCIATED DOCUMENTS
A. Consider approval of Resolution 95-31 authorizing the City of Prior Lake to act as
legal sponsor for EM Products, for projects contained in the Business and
Community Development Application.
B. Consider approval of Resolution 95-43 for Residential Ami-displacement,
Relocation Assistance and Displacement Minimization.
C. Consider approval of Community Development Housing Need Certification.
D. Consider approval of Revolving Loan Fund Plan.
IV. GENERAL DISCUSSION - IMPACT OF PENDING TAX INCREMENT
FINANCING LEGISLATION
IIV. ADJOURN
I:\COUNC ILX, A52295 SP DOC
16200 Ea§le Creek Ave., Prior kake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
Minutes oft. he Prior Lake City Council Special Meeting - May 22, 1995
MINUTES OF THE PRIOR LAKE CITY COUNCIL
SPECIAL MEETING
Monday, May 22,1995
1. CALL TO ORDER - Mayor Andren called the special meeting of the Common
Council to order on Monday, May 22, 1995 at 5:30 p.m. in the City Council
Chambers. Present were: Mayor Andren, Councflmembers Scott, Greenfield,
City Manager Boyles, and Assistant City Manager Carlson. Councilmember
Schenck was absent. Councilmember Kedrowski arrived at 5:45 p.m.
2. PLEDGE OF ALLEGIANCE - Mayor Andren led the Pledge of Allegiance
and welcomed everyone to the meeting.
Public Hearing
3. CONDUCT PUBLIC HEARING ON TAX INCREMENT DISTRICT NO. 2- TIF Dist. #2
5 - Mayor Andren called the public hearing to order. Assistant City Manager
Carlson reviewed details of the proposal by E.M. Products to build a 28,800 sq.
ft. building on 3.6 acres. The purchase of this parcel enable them to build up
to an additional 20,000 sq. ft. in the future. Ms. Carlson discussed estimated
acquisition and development cost. Roger Guenette discussed the costs. Ms.
Carlson stated that the net tax increment funds will be administered on a pay
as you go basis. The total increment is expected to be at least $277,645.00
which will be applied against the property acquisition and administrative
costs, less the developer payments up front for soil corrections and other
development related costs.
Ed Malone, President of E.M. Products gave a brief history of his company, its
present situation and future plans for the next several years. Dennis Zylla,
Northco Company representative, discussed the proposed construction project
and presented an overhead of the floor plan.
MOTION BY KEDROWSKI, SECOND BY GREENFIELD, TO APPROVE RESOLUTION
RESOLUTION 95-44 APPROVING TAX INCREMENT FINANCING 95-44
DISTRICT NO. 2-5 AND THE USE OF TAX INCREMENT FINANCING. TIF #2
Upon a vote taken, ayes by Andren, Kedrowski, Greenfield and Scott. The
motion carried.
MOTION BY SCOTT, SECOND BY KEDROWSKI, TO ADJOURN THE
PUBLIC HEARING.
Upon a vote taken, ayes by Andren, Kedrowski, Greenfield and Scott. The
motion carried.
M522TIFr 1
16200 Eagle Creek Ave., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
Minutes of the Prior Lake City Council Special Meeting - May 22, 1995
4. APPROVE DEVELOPMENT AGREEMENT WITH ED MALONE - Staff
has requested this item be acted upon as part of the June 5 Consent Agenda
due to the fact that there are some minor technical changes. Council
requested that the changes be highlighted so they wi]] know what the changes E.M.
Development
were.
5. CONSIDER APPROVAL OF THE COMMUNITY DEVELOPMENT
FUNDING APPLICATION TO THE MINNESOTA DEPARTMENT OF
TRADE AND ECONOMIC DEVELOPMENT AND ASSOCIATED
DOCUMENTS - Items A, B, C. & D. Assistant City Manager Carlson stated
that this is the first time the city has applied for a Minnesota Department of
Trade and Development Economic Funds. Roger Guenette briefly reviewed
the Revolving Loan Fund and associated documents.
MOTION BY, KEDROWSKI, SECOND SCOTT, TO APPROVE Resolution 95-
RESOLUTION 95-31, RESOLUTION 95-43, THE COMMUNITY 31
DEVELOPMENT HOUSING NEEDS CERTIFICATION AND THE
REVOLVING LOAN FUND PLAN.
Upon a vote taken, ayes by Andren, Greenfield, Kedrowski and Scott The
motion carried.
6. GENERAL DISCUSSION OF IMPACT OF PENDING TAX INCREMENT
FINANCING LEGISLATION- Roger Guenette reviewed the possibility of
Impact of
changes in the tax increment financing laws by the State legislature. Mr. Pending TIF
Guenette stated that in the event of TIF law changes that the Council should Legislation
consider prompt action to establish the rest of Waterfront Passage Business
Office Park as a tax increment district and possibly several other sites in the
city where tax increment financing might be essential to promote significant
development. The County has been apprised of this action and appears to
have no objection. The down side of this action is that it starts the clock and
there will be a limited number of years to generate increment, which does
impact the City's ability to write down costs to promote development.
There being no further business, the meeting adjourned by gene/al consent at
6:30 p.m. ~' ~'~/~x._..~~
City Man~// /
M522TIFr 2