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HomeMy WebLinkAbout12 16 2013 EDA Report 7A Attach 4 City of Newport Newport Economic Development Authority 2012 Annual Report A.Resolution No 2012-11Approving the 2013 NEDA Proposed Budget 1.The 2012 NEDA Budget called for the transfer of $250,000 from the General Fund, of which only $150,000 has been transferred, bringing the current budget to $587,710.50. Staff is proposing that the 2013 NEDA Proposed Budget transfer in approximately $280,000 from the General Fund and allocate funds to pay for items such as Levee properties, Mill Pondproperties, Red Rock Gateway properties,Knauff properties, façade improvement,internship program, etc.Staff hasestimated to cost of some of these propertiesand projects, however, the exact amount is unknown and much of the funds are expected to assist in the land acquisition of the Red Rock Gateway properties, which don’t have an estimated amount in there. The year end fund amount for the 2013 NEDA Proposed Budget is approximately $771,589 less any expensed for the Red Rock Gateway. B.Business Assistance Policy Update In 2011 the NEDA approveda new TIF and Tax Abatement Policyalong with the Façade Rehabilitation Grant Program. To date, the NEDA has approved façade improvement projects for Masertech in the amount of $10,000, Red Rock Lodge in the amount of $1,910, and Martin Joseph Design and Construction in the amount of $7,848.50 for a total of $19,758.50. City staff has made contact with the owners of the BP station several times informing them they have been fined $1,500 for their blight property. In addition, City staff has been working with the City’s fire chief and building inspector to get BP to properly abandon and/or remove the fuel storage tanks. They have not paid the fine or removed the tanks at this time but have informed the City they are in the process of selling the property. In addition, the City has been trying to work with the owner of Steve’s Drive Inn in an effort to demolish or refurbish the building. There are a number of legal issues that needed to be resolved on the property owners end and staff believes many of those have been resolved but a fewstill remain which makes this project challenging. C.Business Assistance Programs Update The City has placed a number of business assistance programs on the web site including links to DEED, CEE, Xcel Energy, and Metro MSP. The City has received calls from businesses regarding assistance and staff directs them to the City’s web site to which they seem appreciative. D.Homeowner Assistance Programs Update The City has placed a number of homeowner assistance programs on the web site including links to the Washington County HRA, CEE, MN Housing, and Xcel Energy. The City is in the process of doing a follow-up with these organizations to gage the level of interest and use by Newport residents and businesses. E.Vacant Building Registration Program Review The City has charged three residential homes with the vacant building fine with two more pending. In addition, the City has charged BP with the vacant building fine and has asked them to abandon their underground fuel tanks. At this time, they have not removed their tanks and staff is inquiring if Council would like to take legal action in an effort to get them removed. F.Property Update The Phase II Investigation has begun for the Knauff property. The goal is to complete st the report by October 1in order to have the MPCA review the report, which is then st needed in order to apply for cleanup grant funds on November 1. The two parties are still negotiating a price at this time. There has been a little interest in the Raceway to Fun sitein that a representative from Walmart was proposing a distribution hub, which would benonconforming as they have presented it being the truck bays face Hastings Ave. They never came back with some general information that I had requested. G.Red Rock Gateway Update As you know the Preliminary Plathas been brought before the Planning Commission andthe Final Plat will be brought before the City Council in November for consideration of approval. The removal of the Knox building and construction of the transit station is scheduled to begin in spring 2013. Staff will continue to work the County HRA in acquiring the properties to the south of the spur line once a TIF district has been established. H.Newport Development Information Guide The City has developed and placed on the City’s web site, along with a wealth of other economic development information, Newport’s Commercial and Industrial Development Guide and Residential Development Guide. These guides will provide clarity and convenience to those interested in developing in Newport. I.Business Marketing Strategies Plan for attraction & retention of business Staff had been working with the University of St. Thomas on creating a master list of businesses that the City may be interested in attracting to Newport. The City placed this initiative on hold until after the Strategic Plan was complete in order to ensure the City’s initial efforts were complete. I am recommending that staff work with the NEDA and the City Administrator and Economic Development Director of Oakdale in developing a plan that would allow for master student interns to work on as part of an internship program. Oakdale staff can assist in developing the program being the two mentioned persons as professors at Hamline University and know the interns capabilities. In addition it would allow the City to be specific on its goals. J.2013 Goals and Strategies 1.Continue to work with the County HRA on the Red Rock Transit Station 2.Continue to work on the Knauff site development. 3.Develop and implement a new internship program to attract new businesses to Newport.