HomeMy WebLinkAboutFebruary 22, 1994
PRIOR LAKE ECONOMIC DEVELOPMENT COMMITTEE
TUESDAY, FEBRUARY 22, 1994
7:15 - 9:00 AM
PRIOR LAKE CITY HALL COUNCIL CHAMBERS
AGENDA
I. ROLL CALL
- Bob Barsness
- Dar Fosse /
- Ray Lemley'
- Jere Phillips-
- Jeannie Robbinsv'
- Mike Sweeney
- Dean Sutliff
- Nat Wisser
- Wes Mader
- Larry Greenfield
- Dave Pearson - ex officio
- Deborah Rose - ex officio
II.
MINUTES
III.
IV.
, * See~ttached minutes of February 8, 1994, EDC meeting
J!n.l\.1'Q, \\0v-f -
UPDATE ON BUSINESS OFFICE PARK DEVELOPMENT -- PROSPECTS
B e...tXvP-
DRAFT RECOMMENDATIONS (attached) TO CITY COU1N~IL REGARDING: / f . 'lIfd "
I j, J /Vii, J. / /'1.t JJ/t h~ I-Yb'lSk if'lU 0LwL '~ jI I
__ Rainbow Play Systems -il/>>,p,//Liay ~v , ~u, \ .. r ()nlt/flJ
-- FHMA Intermediary Lending Program [tJL{fltt)
v.
1994 GOALS AND OBJECTIVES (attached):
Establish strategy and time line for implementation
v,. OTHER BUSINESS
VII. ADJOURNMENT - 9:00 AM &r J' ;IJtte
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31
FEBRUARY 22,1994
I.
ROLL CALL
Present:
Wes Mader, Bonnie Carlson, Jeannie Robbins, Dar Fosse, I:::afpy;
<J'.u-..fUci, Ray Lemley, and Frank Boyles.
n.
MINUTES
Motion by Robbins, seconded by Lemley, to approve the minutes of the February
8, 1994 meeting with three amendments.
Motion approved unanimously.
m.
UPDATE ON BUSINESS OFFICE PARK DEVELOPMENT - PROSPECTS
Frank Boyles distributed a copy of a memorandum prepared by Roger Guenette.
The memorandum identified over ten businesses which Roger talked to over the
last two weeks with respect to development in the Waterfront Passage Business
Park. Three potential projects look promising. The first is: Becker Arena
Products who would like to construct a 6000 square foot facility in the office
park; the second is Katun Corporation and the third is a multi-tenant structure
which would be constructed by Greystone.
A proposed Tax Increment Financing Plan was reviewed by the EDC for the
Becker Arena Products project. Members present concurred that the plan was
appropriate and should be recommended for City Council approval.
Katun Corporation has been provided with information about two potential sites
for development in the city. Company representatives intend to visit the city to
view the site options. Roger will be contacting them in the next week or two to
determine if additional meetings would be appropriate.
A meeting took place with three potential tenants of the Greystone Project. Roger
is assembling the necessary data to determine under what conditions this project
might be feasible.
IV.
DRAFf RECOMMENDATIONS TO THE CITY COUNCrr.
The EDC members reviewed a draft memorandum for City Council review which
makes recommendations with respect to Rainbow Play Systems and the FHMA
Relending Program.
4629 Dakota St. S.E., Prior Lake. Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNI1Y EMPLOYER
EDC members expressed concern that there did not appear to be a parcel available
within the urban service area to serve Rainbow's needs. They suggested that the
City Council consider acquisition and/or annexation of the thirty-one acre
Adelmann property lying immediately south of the office park. Staff identified
various pluses and minuses of acquiring property outside of the existing corporate
boundaries of the city:
Pluses:
1. Add future land for office/industrial development.
2. May help to accommodate business, which while adding tax base
and jobs, will not be capable of meeting the city's office park
standards.
Potential Minuses:
1. The purchase of the thirty-one acres rather than a larger parcel in
this area may prematurely limit the expansion of the park to the
south.
2. Without proper safeguards the acquisition of the parcel to the south
could compete with the office park property if potential tenants
perceive that the standards to the south are less rigorous than the
office park standards.
3. Would the less aggressive standards on the thirty-one acre parcel
be consistent with the image the community wants to maintain
over the long term?
4. The city assumes additional risk by becoming the developer on a
second property.
5. Additional work will be required to annex the parcel.
The committee suggested that staff contact Greg Foster to assure that his plans are
serious and to discern his needs for example in building construction, storage, and
the need for a railroad spur. If the need for a spur is essential, Prior Lake would
be at a competitive disadvantage with others who have such amenities. An EDC
member indicated that he wasn't sure that there was a major advantage in
acquiring an additional thirty-one acres unless that acreage has the same standards
as required in the remainder of the park.
The EDC recommended staff investigate acquisition of the thirty-one acres by
costing out the proposal.
The EDC recommends that the Council approve the FHMA Relending Program
provided that there is no impact on the city's bonding capacity, and provided that
the purpose of the loans is not overly restricted thru the federal guidelines.
v.
1994 GOALS AND OBJECTIVES
Due to the time, the committee deferred further discussion of the goals and
objectives for the next meeting.
VI. Committee members asked that staff contact Dean Sutliff and Mike Sweeney to
see if they still intend to serve on the Committee.
VII. ADJOURNMENT
The meeting was adjourned at 8:58 a.m.
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