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HomeMy WebLinkAbout04 18 2016 EDA Minutes FINAL Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes April 18, 2016 1. CALL TO ORDER President Hedberg called the meeting to order at 4:02 p.m. Present were Commissioners Hedberg, Choudek and Keeney. Also present were Executive Director Boyles, Community & Economic Development Director Rogness, Community Development Specialist Casey McCabe and Finance Director Don Uram. 2. APPROVAL OF AGENDA MOTION BY CHOUDEK, SECONDED BY KEENEY TO APPROVE THE AGENDA, WITH MOVING OF AGENDA ITEM 8B (PRELIMINARY YEAR END 2015 EDA FINANCIAL REPORT) TO BECOME ITEM 7 B. AGENDA ITEM 7B WILL BECOME 7C. AGENDA ITEM 8C WILL BECOME 8B. VOTE: Ayes by Hedberg, Choudek and Keeney. The motion carried. 3. APPROVAL OF MEETING MINUTES MOTION BY KEENEY, SECONDED BY CHOUDEK TO APPROVE THE MARCH 21, 2016 MEETING MINUTES. Ayes by Hedberg, Choudek and Keeney. The motion carried. 4. CONSENT AGENDA EDA 2016 Revenue & Expenditure Report (3/31/16) MOTION BY KEENEY, SECONDED BY CHOUDEK TO APPROVE THE CONSENT AGENDA. Ayes by Hedberg, Choudek and Keeney. The motion carried. 5. REMOVED CONSENT AGENDA ITEMS No items were removed from the Consent Agenda 6. PUBLIC HEARING No Public Hearings 7. OLD BUSINESS A. Private Activity Revenue Bond Policy – Draft #2 McCabe: summarized changes that had been directed by the EDA at its previous March meeting for the bond policy. In particular, staff changed the fee requirements to remove the cap of $50,000. Choudek: wants to make sure that the policy is no so restrictive that potential applicants don’t make deci- sions to exclude Prior Lake as the issuer. Keeney: asked whether the policy is clear that all staff-related costs are covered. He likes that other cities were viewed as a comparison. Keeney also said that it’s likely this policy won’t actually be used that often. MOTION BY CHOUDEK, SECONDED BY KEENEY TO RECOMMEND APPROVAL OF THE PRIVATE ACTIVITY REVENUE BOND POLICY AS DRAFTED. Ayes by Hedberg, Choudek and Keeney. The motion carried. B. Preliminary Year End 2015 EDA Financial Report Uram: reviewed he preliminary EDA financial report for 2015, as further described in a memorandum to the Authority. The year ended with actual revenues of $186,328 compared to the budget of $166,50 0, and 2 with expenditures of $159,558 compared to the budget of $188,595. Therefore, there was a $26,770 carry - over into the EDA’s fund balance, which ended the year 2015 with a $183,947 balance. Uram also noted that the City’s 2015 audit showed that the EDA funded the most recent SAC deferral for Charlie’s on Prior, which needs to be corrected as a City obligation rather than the EDA. Finally, Uram noted that the budget summary appears to show more opportunity for the EDA to get involved in more economic development activities and/or projects. Hedberg: made note that EDA will soon review a consultant’s report on the future of Technology Village, which is a part of the EDA’s budget. Keeney: questioned and confirmed that the annual SCALE membership fee for Prior Lake is now out of the EDA budget. He also wondered whether there is a fund balance policy that applies to the EDA? MOTION BY KEENEY, SECONDED BY CHOUDEK TO ACCEPT THE PRELIMINARY YEAR END 2015 FINANCIAL REPORT. Ayes by Hedberg, Choudek and Keeney. The motion carried. C. Downtown Planning Reports Rogness: briefly summarized the list of planning reports that pertain to the downtown area, starting with one in 2000, which were downloaded into Dropbox for viewing by the Commissioners. Hedberg: made special note of the 2000 report, which is a Downtown Development Guide; he was pleas- antly surprised to see something that showed plans and ideas that have been more recently discussed by the EDA and City Council. Choudek: suggested that since they haven’t yet had enough time to review them, that the Commissioners be asked to read them prior to the next regular meeting in May, and then devote much of that meeting to this topic. She further said that the EDA should ultimately use these studies to help them deve lop an action plan for the future of downtown. 8. NEW BUSINESS A. 2015 Mixer Follow-up Items from the EDA McCabe: identified two items that had been discussed by the EDAC, but were forwarded on to the EDA for further discussion and action. These two items included: (1) coordinate purchasing agencies of the City, SMSC and local businesses in order to lower costs for all; and (2) develop better communication and notifi- cation to residents in Prior Lake about future development or construction that impacts their neighborhoods. Hedberg: wondered whether joint purchasing may have some type of conflict of interest. Keeney: thought there may actually be too much trade restriction by cooperating on purchases, and some- one may get stuck in an unfortunately situation. Boyles: questioned legal and liability issues related to cooperative purchasing . Rogness: gave an example of interactive maps on city websites that show locations of development or construction projects. Choudek: questioned who is ultimately responsible for providing this type of information to the public, but she liked ideas that would help people find that type of information on the city’s website. B. Property Acquisition for Highway 13 & 21 Project Boyles: provided information related to a small triangular piece of property that is located at the southwest corner of Trunk Highway 13 and Pleasant Avenue. Boyles had been contacted by a representative of the owner to inquire as to whether the city may have an interest in purchasing it. He further noted that this cor- ner would eventually need to be purchased to implement the TH13 and CSAH21 intersection plan that would provide a new access into Pleasant Avenue from TH13. Commissioners: were supportive of the EDA becoming a possible agent for acquiring this property in or- der to benefit the future of downtown. Therefore, they endorsed staff working with the County who may 3 contact the owner due to their experience in land acquisitions; the EDA can then make decisions on their funding options based on the County’s response to the EDA. MOTION BY CHOUDEK, SECONDED BY KEENEY TO WORK WITH SCOTT COUNTY ON A POSSIBLE ACQUISITION OF A TRIANGULAR PARCEL AT THE SOUTHWEST CORNER OF TRUNK HIGHWAY 13 AND PLEASANT AVENUE. Ayes by Hedberg, Choudek and Keeney. The motion carried. 9. OTHER BUSINESS A. Commissioner Comments There were no further Commissioner comments at this meeting. 10. ADJOURNMENT MOTION BY CHOUDEK, SECONDED BY KEENEY TO ADJOURN THE MEETING. With all in favor, the meeting adjourned at 5:56 p.m. ___________________________ Frank Boyles, Executive Director