HomeMy WebLinkAbout2001.07.31 MINUTES CITY OF COTTAGE GROVE
ECONOMIC
DEVELOPMENT
AUTHORITY
MINUTES
JULY 31, 2001
Pursuant to due call and notice thereof, a special meeting of the Economic Development
Authority was held at City Hall, 7516 80th Street South, Cottage Grove, Minnesota on the 31st
day of July 2001.
CALL TO ORDER
The meeting was called to order at 7:30 a.m. by EDA President Jim Wolcott.
ROLL CALL
• Members Present: Glen Kleven, Fred Luden, Dick Pederson, Sandy Shiely, Gerard
Weingartner, Jim Wolcott.
Members Absent: None.
Others Present: Ryan Schroeder, City Administrator.
Michelle Wolfe, Assistant City Administrator.
Neil Belscamper, Administrative Secretary.
BUSINESS ITEMS
A. Approval of Development Agreement with American AGCO
Schroeder said the City Council approved all five of the development agreements on the
agenda today at their July 26 Special Meeting. American AGCO would be located on a
six-acre lot, and the closing should occur in August. They are a wholesale agricultural
product distributor, Schroeder elaborated, and would be located near Advance
Corporation in the industrial park.
Wolcott asked if they were moving so quickly on the project because of the changes in
legislation affecting the creation of tax increment financing districts beginning August 1.
Schroeder responded that that was the reason.
PEDERSON MOVED TO APPROVE THE DEVELOPMENT AGREEMENT WITH
411 AMERICAN AGCO. KLEVEN SECONDED. MOTION CARRIED UNANIMOUSLY.
• Economic Development Authority - Minutes
July 31, 2001 Special Meeting
Page 2
B. Approval of Development Agreement with Twin City Poultry
Schroeder explained that the Twin City Poultry project was not as certain as American
AGCO.
Wolcott asked if there would be semi-trailer parking on the site. Schroeder said there
would be, but the parking location would be bermed.
PEDERSON MOVED TO APPROVE THE DEVELOPMENT AGREEMENT WITH TWIN
CITY POULTRY. WOLCOTT SECONDED. MOTION CARRIED UNANIMOUSLY.
C. Approval of development agreement with First Industrial Realty Trust
Schroeder outlined the First Industrial Realty Trust proposal, which would be for a
128,000 square-foot industrial building on an eight-acre site. Some of the space would
have to be pre-leased, Schroeder added, in order for the project to get underway.
KLEVEN MOVED TO APPROVE THE DEVELOPMENT AGREEMENT WITH FIRST
INDUSTRIAL REALTY TRUST. PEDERSON SECONDED. MOTION CARRIED
UNANIMOUSLY.
• D. Approval of development agreement with EBL&S and assigns for the Grove Plaza
Project
The Grove Plaza project, Schroeder said, consists of reconstruction of most of the mall
space, and the addition of a 95,000 square-foot Home Depot store. Capital from the tax
increment financing district would be used to improve the site. In turn, the owners would
be required to deed the old Burger King lot to the City for stormwater ponding for the
site.
Kleven asked why the stormwater pond was needed on site. Schroeder explained that it
was a more cost-effective solution than piping the site's stormwater runoff elsewhere.
Wolcott and Kleven remarked that the ponding location would be highly visible on the
site. Luden asked how the pond would be constructed. Schroeder said it would be an
unlined infiltration pond of approximately 1 acre in size, and that it would be constructed
to have a finished appearance on the property.
KLEVEN MOVED TO APPROVE THE DEVELOPMENT AGREEMENT WITH EBL&S
AND ASSIGNS FOR THE GROVE PLAZA PROJECT. WEINGARTNER SECONDED.
MOTION CARRIED UNANIMOUSLY.
E. Approval of development agreement with the Development team and entity and
assigns for development of the 80th Street Redevelopment Project.
• Schroeder stated that the retailer for this project could not be disclosed at this time, but
the project would involve the acquisition of four residential and six commercial properties
• Economic Development Authority- Minutes
July 31, 2001 Special Meeting
Page 3
at an estimated cost of approximately $2.2 million. Several jobs would be created, and
the project would help solidify the retail district, Schroeder stated.
Wolcott felt it would benefit the whole 80th Street/Highway 61 retail area, and may spur
additional projects on the other side of Highway 61. Shiely concurred that it would be a
good project for the City.
PEDERSON MOVED TO APPROVE THE DEVELOPMENT AGREEMENT WITH THE
DEVELOPMENT TEAM AND ENTITY AND ASSIGNS FOR DEVELOPMENT OF THE
80TH STREET REDEVELOPMENT PROJECT. WEINGARTNER SECONDED.
Luden asked if the project would continue should the anchor retailer drop out. Schroeder
replied that there would not be a funding source and the project would not proceed.
UPON VOTE BEING TAKEN, MOTION CARRIED UNANIMOUSLY.
ADJOURN
SHIELY MOVED TO ADJOURN. WEINGARTNER SECONDED. MOTION CARRIED
UNANIMOUSLY.
• Respectfully submitted,
Neil Belscamper
Administrative Secretary
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