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HomeMy WebLinkAbout02/25/2010 ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota February 25, 2010 Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota County, Minnesota, held February 25, 2010, at 6:00 o'clock p.m., at the Apple Valley Municipal Center. PRESENT: President Severson; Commissioners Bergman, Goodwin, Grendahl, Hamann - Roland, and LaComb. ABSENT: None. Staff members present were: Executive Director Lawell, Secretary Gackstetter, City Attorney Hills, City Engineer Manson, Police Sergeant Bermel, Public Works Director Blomstrom, Associate City Planner Dykes, Finance Director Hedberg, Natural Resources Coordinator Kehrer, City Planner Lovelace, and Community Development Director Nordquist. President Severson called the meeting to order at 6:05 p.m. APPROVAL OF AGENDA MOTION: of Hamann- Roland, seconded by Bergman, approving the agenda for today's meeting as presented. Ayes - 5, Nays - 0. MINUTES MOTION: of Goodwin, seconded by Hamann- Roland, approving the minutes of the special meeting of January 25, 2010, as written. Ayes - 5, Nays - 0. EXPANSION OF MASTER DEVELOPMENT DISTRICT Ms. Dykes reviewed her report regarding the expansion of the Master Development District (MDD), which defines the geographic boundaries in which Tax Increment Financing (TIF) Districts can be created and TIF resources used. At its January 25, 2010, meeting, the Economic Development Authority recommended staff meet with the Chamber of Commerce to solicit input on the proposed expansion of the MDD. Ms. Dykes said the Chamber of Commerce reviewed this item earlier in the week and supported the proposed expansion of the District which includes the commercial nodes and transportation networks as recommended by the Economic Development Authority. Since then, the City' Bond Counsel made minor modifications to the Amendment Relating to the Enlargement of Master Development District. The modifications include definitions and clarifying language and are noted with underline and strike out in the updated document ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota February 25, 2010 Page 2 distributed this evening. In addition, the City's Bond Counsel recommended the Planning Commission review this item to ensure it is consistent with the Comprehensive Plan. Commissioner Hamann- Roland stated members of the Chamber of Commerce indicated appreciation for being asked for their input on this matter. MOTION: of Hamann- Roland, seconded by LaComb, adopting Resolution No. EDA -10 -2 approving enlargement of the Master Development District and requesting the City Council hold a public hearing on March 11, 2010, to consider approving the Master Development District. Ayes - 5, Nays - 0. FISCHER MARKET PLACE REDEVELOPMENT ASSISTANCE AGREEMENT Mr. Lawell reviewed the Redevelopment Assistance Agreement with Fischer Market Place, L.L.P., and the Apple Valley Economic Development Authority and the City of Apple Valley. Mr. Fischer recently contacted the City regarding a reimbursement under this Agreement. After reviewing the matter with staff and per the advice of the City Attorney and Bond Counsel, it was determined Fischer Market Place, L.L.P., is entitled to an additional reimbursement under the Agreement. It is recommended the Reserve Requirement be reduced and a payment of $854,274.00 be authorized at this time. Commissioner Grendahl arrived at 6:13 p.m. Mr. Lawell indicated both the Economic Development Authority and the City Council will need to take action to approve this reimbursement. MOTION: of Goodwin, seconded by Hamann- Roland, adopting Resolution No. EDA -10 -3 authorizing reimbursements to Fischer Market Place, L.L.P., in connection with the Redevelopment Assistance Agreement. Ayes - 6, Nays - 0. BROADBAND DEVELOPMENT OPPORTUNITY Mr. Lawell stated there has been a lot media attention over the last week or so regarding Google's Request for Information (RFI) linked to their plan to test an ultra -high speed broadband network in one or more trial locations across the country. He asked for the Board's feedback regarding the City's next steps. He said some cities in Dakota County are submitting individual applications. Apple Valley could take a similar approach or prepare a joint response with one or more cities in Dakota County or prepare both an individual and joint application. Dakota Futures has expressed interest in taking the lead on the collective approach involving multiple cities. Applications are due March 26, 2010. Although there is only a slight chance Apple Valley ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota February 25, 2010 Page 3 would be selected for this trial, the exercise of compiling the information will better prepare Apple Valley for similar requests by other providers in the future. Commissioner Bergman asked if Apple Valley meets the population requirement of 50,000. Mr. Lovelace responded Apple Valley is very close to 50,000. MOTION: of Hamann- Roland, seconded by Goodwin, recommending the City prepare both an individual and joint response to the Google Fiber for Communities Request for Information. Ayes - 6, Nays - 0. DEVELOPMENT UPDATE Mr. Nordquist stated staff testified before the Taxes Committee which is currently working on tax increment financing legislation intended to prompt more job development. The legislation also includes new definitions for use in compact developments. Staff provided advisory language, acted as a resource, and commented on the how the legislation would impact Apple Valley. Staff will continue to work with and respond to the Taxes Committee as needed. He is hopeful the new rules will be consistent with what Apple Valley is trying to achieve. Commissioner Hamann- Roland remarked on the importance of this tool for Apple Valley. Mr. Lawell gave a brief update on Founders Circle and potential changes to the development team. Mr. Nordquist indicated there currently is some market for senior housing. He asked the Board's opinion about staying true to the concept of having retail on the first floor and housing above at the Village at Founders Circle. Commissioner Goodwin said he would like to stay true to the original concept, but acknowledges the City may need to be flexible. Mr. Lawell said Money Magazine sent an invitation to 50 towns from their "Best Places to Live" list to seek their interest in being part of a series of events called "Take Charge ". Apple Valley received one of the letters. Money Magazine will select five cities from across the country. If selected, the City would need to provide a venue for up to 200 people and Money Magazine will provide light refreshments, materials, and experts for a live discussion to help residents make smarter financial decisions. Commissioner Hamann- Roland and Chamber of Commerce President Mr. Ed Kearney called Money Magazine to express interest in hosting an event in Apple Valley. ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota February 25, 2010 Page 4 MOTION: of Goodwin, seconded by Hamann- Roland, to adjourn. Ayes - 6, Nays - 0. The meeting was adjourned at 6:31 o'clock p.m. Respectfully Submitted, 411 ,e Immrit Pamela J. G!ckstetter, Secretary Approved by the Apple Valley Economic Development Authority on q 10