HomeMy WebLinkAbout08/25/1994 ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
August 25, 1994
Minutes of the special meeting of the Economic Development Authority of Apple
Valley, Dakota County, Minnesota, held August 25th, 1994, at 7:30 o'clock p.m. at
Apple Valley City Hall.
PRESENT: President Branning; Commissioners Erickson, Humphrey and Sterling.
ABSENT: Commissioner Goodwin.
Staff members present were: City Administrator Gretz, Secretary Mueller, City
Attorney Sheldon, City Engineer Gordon, Community Development Director Kelley,
and Planning Intern Kragness.
President Branning called the meeting to order at 7:30 p.m.
MOTION: of Sterling, seconded by Humphrey, approving the agenda for APPROVE AGENDA
tonight's meeting as presented. Ayes - 4 - Nays - 0.
MOTION: of Sterling, seconded by Humphrey, approving the minutes of AUG. 11, 1994
the special meeting of August llth, 1994, as written. MINUTES
• Ayes - 4 - Nays - 0.
The Board received a report from Janna King, the City's economic FOREIGN TRADE
development consultant, on foreign trade zone considerations. She ZONE REPORT
reviewed the information on recent activity in other cities and
characteristics of successful foreign trade zones. She recommended establishing
a sound comprehensive economic development program which addresses the
fundamentals as the first step. If a foreign trade zone is established, as part
of a long term economic development strategy, it should be accompanied by a
commitment to marketing the foreign trade zone.
President Branning asked if it would be worthwhile to have the foreign trade zone
ready for a business to use? Some type of tool different from other cities is
needed to develop an industrial base; and if not this tool, what else is
available? Ms. King said any industry coming in to use a foreign trade zone
would involve new construction and it could be established by the time the new
industry is ready to move in. Financing tools are available and are being used
in general. There are not very many companies that would use a foreign trade
zone. With GATT and NAFTA, many tariffs are being removed and a foreign trade
zone is not as important.
MOTION: of Humphrey, seconded by Branning, continuing tabling TABLE HOUY
consideration of the Foreign Trade Zone Designation AGREEMENT
Consultation Agreement with Michael D. Houy until after the
September 24, 1994, Economic Development Growth Partnership
Committee's planning session. Ayes - 3 - Nays - 1
1110 (Erickson).
Mr. Gretz said the Sherman group was to be at this meeting with its CR 42 & CEDAR
proposal for the northeast corner of County Road 42 and Cedar Avenue DEVELOPMENT
but requested a delay until the September 8th meeting. Ms. King said PROPOSALS
ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
1110
Dakota County, Minnesota
August 25, 1994
Page 2
she has met with them and they are trying to put together numbers
focusing on hotel development. They expect to have a project proposal for the
September 8th meeting.
MOTION: of Erickson, seconded by Humphrey, approving the agreement FIRST TRUST
with First Trust National Association for standing approval BOND AGREEMENT
to replace lost or destroyed bonds and authorizing the Pre-
sident and Secretary to sign the same. Ayes - 4 - Nays - 0.
MOTION: of Humphrey, seconded by Sterling, setting the next meeting SET NEXT
of the EDA for 7:00 p.m. on September 8, 1994. Ayes - 4 - MEETING
Nays - 0.
MOTION: of Humphrey, seconded by Sterling, to adjourn. Ayes - 4 - Nays - 0.
The meeting was adjourned at 7:54 o'clock p.m.
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