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HomeMy WebLinkAbout2015-04-14 MINUTES 03. CITY OF COTTAGE GROVE E CONOMIC D EVELOPMENT A UTHORITY MINUTES March 10, 2015 Pursuant to due call and notice thereof, a regular meeting of the Economic Development Authority was held at Cottage Grove City Hall, 12800 Ravine Parkway, Cottage Grove, Minnesota 55016 on the 10th day of March, 2015. I. CALL TO ORDER The meeting was called to order at 7:30 a.m. by EDA President Bailey. II. ROLL CALL Members Present: Myron Bailey, EDA President Jeff Carter, EDA Member James Celkis, EDA Member Trent Cole, EDA Member Steve Dennis, EDA Member Tony Jurgens, EDA Member Ramona Westerberg, EDA Member Staff Present: Ryan Schroeder, EDA Executive Director Danette Parr, Economic Development Director Robin Roland, Finance Director Alicia McMonigal, Economic Development Assistant Others Present: Emily Buss, South Washington County Bulletin III. APPROVAL OF MINUTES EDA Member Jurgens motioned to approve the March 10, 2015 EDA Meeting Minutes, and EDA Member Dennis seconded, all present were in favor. IV. BUSINESS ITEMS A. Development Update / BR&E Update EDA Executive Director Schroeder reviewed the development update materials that were included in the EDA packet. Executive Director Schroeder stated that the first two months of 2015 have started out strong in in terms of a building permit perspective and it appears to be at prerecession activity. B. Ag Co/American Logistics TIF EDA Executive Director Schroeder reviewed the development update materials that were included in the EDA packet. EDA Executive Schroeder indicated the draft contract will be modified on page six indicating the purchase price as the number in the memo. EDA Economic Development Authority - Minutes March 10, 2015 Page 2 Member Cole made a motion to enter into a development and assessment agreement with th South St Paul Agri-Properties for an extension of the 7800 97 Street South in Cottage Grove and was seconded by EDA Member Westerberg, all present were in favor. C. River Oaks Rental Agreement EDA Executive Director Schroeder reviewed the River Oaks Lease Amendment as indicated in the EDA packet. EDA Member Celkis made a motion to authorize the extension of the Ground Lease with the 3M Company for the property used by River Oaks Golf Course for the period through April 2020 contingent on City attorney review and was seconded by EDA Member Dennis, all present were in favor. V. MISCELLANEOUS BUSINESS ITMES A. TIF Informational Material EDA Director Parr discussed the TIF Informational Material discussed in the EDA packet. EDA Executive Director Schroeder added that when participating in a TIF project, it potentially impacts tax receivables for city, county, school district, and miscellaneous taxing jurisdictions. It does not impact state receivables or receivables by the Metro Fascial Disparities Pool so they are not tax increment eligible. The state and the Metro Fascial Disparities Pool always receive the full value of the increment. EDA President Bailey added that over time it generates taxable market value at a higher level. VI. CALENDAR The EDA members were given the upcoming meeting and events calendar that was included in the EDA Packet. EDA President Bailey and EDA Director Parr discussed how the McComb’s Marketing Study will prove credibility to ICSC end users we wish to attract to Cottage Grove. EDA Member Jurgens, EDA President Bailey and EDA Director Parr discussed marketing options at ICSC. VII. AJOURN EDA Member Carter motioned to adjourn the meeting. Seconded by EDA Member Westerberg, all present were in favor. The meeting adjourned at 8:00 a.m. Respectfully Submitted, Alicia McMonigal Economic Development Assistant