Loading...
HomeMy WebLinkAboutFebruary 8, 1994 ! (( PRIOR LAKE ECONOMIC DEVELOPMENT COMMITTEE TUESDAY, FEBRUARY 8,1994 7:15 - 9:00 AM PRIOR LAKE CITY HALL COUNCIL CHAMBERS AGENDA I. ROLL CALL - Bob Barsness - Dar Fosse - Ray Lemley - Dave Pearson - Jere Phillips - Jeannie Robbins - Deborah Rose - Mike Sweeney - Dean Sutliff - Nat Wisser - Dave Mocal - Wes Mader - Larry Greenfield II. MINUTES · See attached minutes of January 11, 1994, EDC meeting III. UPDATE ON BUSINESS OFFICE PARK DEVELOPMENT -- PROSPECTS IV. ECONOMIC DEVELOPMENT COMMITTEE -- STRUCTURE -- Size -- Meeting Times -- Transition V. 1994 GOALS AND OBJECTIVES Please see attached handouts VI. BUSINESS VISITS -- FRANK BOYLES VII. OTHER BUSINESS VIII. ADJOURNMENT MINUTES OF ECONOMIC DEVELOPMENT COMMITTEE FEBRUARY 8,1994 I. ROLL CALL Present: Bob Barsness, Wes Mader, Roger Guenette, Jeannie Robbins, Dar Fosse, Larry Greenfield, Ray Lemley, Mike Sweeney, Frank Boyles, and Councilmember Pete Schenck II. MINUTES The minutes were approved as submitted. m. UPDATE ON BUSINESS OFFICE PARK DEVELOPMENT - PROSPECfS Bob Barsness stated that he had spoken with Rainbow representatives who have revised their facility needs from 15-20 acres to 10 acres. They are looking at three sites in other communities and will be requesting proposals from each community. Other sites being considered by Rainbow include Farmington, Jordan and Lakeville. Roger Guenette stated that the Office Park in its present configuration does not have the capacity even for a 10 acre site. Nor would it be able to accommodate the outside storage desired, or the original building type proposed (metal). The revisions now contemplated by Rainbow make them a better fit for the office site. The Credit River office site was looked at as an alternative, however, there were an insufficient number of acres available. He suggested that the City may want to inquire about the available 31 acres of the Adelmann property in Credit River. This property could be used as an annex for the office park. The building could be placed within the office park and storage on the 31 acres with substantial buffering between the two. The Council needs to react to: 1) the possibility of having lower standards for the annexed property: 2) whether the City is willing to annex the property and entertain lower standards. None of the Prior Lake sites provide the rail spur that Rainbow has asked for. However, the City may be able to offer a more attractive land deal through a low interest loan program than other communities. The state is also not likely to get involved in providing grant money to another city so that they can take a business from one community and transfer it to another. Members clarified that there are two issues. One is the acquisition of property outside of Prior Lake and the second is annexation of that property. There was additional discussion regarding the appropriateness of building structures to full standard north of the border and allowing storage only south of the border. A question was raised with respect to the speed at which orderly annexation can take place. Members agreed that it would be unfortunate to lose Rainbow and that the City should make a strong effort to retain it. Roger stated that he had spoken with Becker Ice Arena Products. He has received a financial proposal from them. They are interested in a 1.2 acre lot, 2 lots north of Key-Land. Their financial data is being evaluated by Jim Hill Jr. to make sure that the cash flow meets the City's original pro forma. Becker is proP9.~Rg to . construct 6,000 square feet initially with a 5,000 square foot addWol!tJnJ~ to i-hf'-.!LL, -four years. The current proposal is to offer the 1.2 acre parcel at $')5,000' with an allowance of up to $15,000 for soil correction and utility connection. The increment generated by the project would reimburse City costs as well as provide for funds for the remainder of the project. This meets the standards which the Council initially set forth. This Friday, Bob Barsness, Roger Guenette and Frank Boyles will be meeting with Graystone to discuss a project involving 5 other companies. Roger will provide a report at the next Economic Development Committee meeting. Roger reported that the Federal Home Management Administration offers an Intermediary Relending Program. Municipalities with less than 25,000 population may apply for a loan of between $400,000 and $700,000 at a 1 % interest rate for up to 30 years. The Cities must have tangible projects for funding at the time of application. Each company may receive up to $150,000 for the program. The companies would repay the loan at any negotiated interest rate over an negotiated number of years. The payments received by the City over and above the cost of the loan may be retained by the City. The committee concurred that it would be appropriate to pursue the FHMA Intermediary Relending Program. The recommendations with respect to the Intermediary Relending Program and Rainbow facility should be forwarded to the City Council for action as they see fit. IV. ECONOMIC DEVELOPMENT COMMITTEE - STRUcrURE Members discussed the advantages and disadvantages of various committee sizes including 5, 7 or 9 members. There was a general agreement that the committee should remain a 9 member body. The meeting time and date was established since it was convenient for members of the committee. The committee does not often meet with the public but when it does, it could change its meeting schedule. The committee desires to retain the existing meeting times and dates. Committee members expressed an interest in having a Council member as liaison. Frank Boyles stated that the City Council is seeking semi annual reports from each advisory body as a means of staying informed rather than through a liaison type program. Council members believe that the residential issue has been over blown. There was little committee time spent discussing residential issues. That time which has been spent, however, was well publicized. Frank Boyles stated that he and Allen Greenfield would be working to revise the By-Laws for all the advisory committees. Once revised the By-Laws will be reviewed with committee chairs for fine tuning and then provided to members. me AlBer,. Economic Development Committee members agreed that they would like to have by-law revisions made as the council desires and move-on. business. V. 1994 GOALS AND OBJECfIVES The committee will receive the most current set of Goals and Objectives with the next agenda packet. Goals and Objectives should be distributed with the next packet. VI. BUSINESS VISITS - FRANK BOYLES Frank Boyles distributed a copy of his business visit schedule from January 28 . through May 13. He asked that members of the committee contact him as soon as possible to let him know which business visits they will attend with him. He stated that Carrie Nelson the new Executive Director of the chamber may also attend some of the Business Visits. VII. ADJOURNMENT The meeting was adjourned at 8:59 a.m. EDCM28.ED