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HomeMy WebLinkAbout11-27-12CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES November 27, 2012 Chair Matasosky called the meeting to order at 4:30 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. Matasosky, Longie, Brantly, Emond (5:35 p.m.), Starfield, Smith, Schubert, Vlasak, Ex- officio member Chamber of Commerce Executive Director Todd Bornhauser, Ex- officio member Mayor Mark Bellows, Ex- officio member City Administrator Steve Mielke. Members Absent: Comm. Tushie. Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist. 2. Approval of September 25, 2012 meeting minutes Motion Comms. Smith / Starfield moved to approve the minutes of the September 25, 2012 meeting as presented. Motion carried unanimously. 3. Review of Proposed Tax Increment Financing (TIF) Policy Mr. Olson reviewed the EDC memo outlining the proposed TIF policy. He provided an overview of the recommended objectives and policies for the use of TIF. The EDC discussed several language tweaks to the policy to make it "more customer focused ". The EDC also discussed the level of equity stake that should be required for a project to be considered for TIF assistance. Comm. Smith concluded that the policy serves as a guide for analyzing TIF eligible projects and flexibility is accounted for in the policy. Motion Comm. Smith / Longie moved to recommend the draft TIF policy to the City Council. Motion carried unanimously. Mr. Olson noted that a draft Tax Abatement policy will be presented at the next EDC meeting. 4. Update on City Visioning Process Mr. Mielke discussed the process for the upcoming City visioning process. He noted that the process is community focused and will be used to guide the City Council on making decisions about what the City should look like as it continues to grow and age. Economic Development Commission Meeting Minutes, November 27, 2012 Page 2 Mr. Mielke added that Craig Rapp has been hired as the consultant for the Visioning Process and that a Task Force will be appointed by the City Council in January to help facilitate the process. Comm. Smith asked what the results of a community survey would generate. Mr. Mielke responded that a survey will be conducted to form guiding principles for the City Council to utilize in topics ranging from housing decisions to planning guidelines. The survey will be able to provide the City Council with a uniform vision to help guide decisions. Comm. Longie noted that the process should include ways to demonstrate the balance between community wants and associated costs. Mr. Mielke added that the Visioning Process is a tool for the community to envision what it wants to be. Comm. Brantly stated that it is prudent planning to know what the community wants by undertaking this type of a process. Comms. Smith and Schubert inquired about a cost/benefits analysis being done as a part of the process. Mr. Mielke responded that the process will try to establish a vision and guiding principles. Specific program and service decisions including cost/benefit analyses would come later. 5. Update on Business Marketing Strategy Implementation Project Mr. Kienberger provided an update on the recent activities related to the implementation of the business marketing strategy. He noted that Lakeville received significant exposure and positive interaction with the commercial broker community at the 2012 MINICAR Expo in Minneapolis. 6. Director's Report Mr. Olson reviewed the Director's Report. He noted that the City has permitted over 200 single - family homes and over $100 million in total permit valuations for the year. 7. Adjourn Meeting adjourned at 5:45 p.m. Respectfully submitted by: Adam Kienber , Recording Secretary