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02-23-16
AGENDA Economic Development Commission February 23, 2016 — 4:30 p.m. City Hall, Marion Conference Room 1. Call to order 2. Approval of January 26,2016 minutes 3. Review of Post / MOM Brands Tax Abatement and DEED Minnesota Investment Fund Loan Agreements 4. Review of County Road 50 and County Road 5 Improvement Projects 5. Directors Report 6. Adjourn Attachments: • January 2016 Building Permit Report • Open to Business Annual Report • 2015 record-breaking year for Lakeville, SunThisWeek, 2-4-16 • DEED Developments 2-11-2016 • Foreclosure Summary for Dakota County, 12-2015 • Eureka Township to review alternatives to airport annexation, SunThisWeek, 2-22-16 • Lakeville in talks to annex all of Airlake Airport, 2-3-16 CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES January 26, 2016 1. Chair Starfield called the meeting to order at 4:30 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. Starfield, Matasosky, Scherer, Vlasak, Emond, Longie, Rajavouri, Collman, Gillen ex -officio members: Mayor Little, City Administrator Miller. Members Absent: Comms. Smith ex -officio members: Chamber President Roche Others Present: David Olson, Community & Economic Development Director; Rick Howden, Economic Development Specialist, Tom Carlson from Aerial Data Services. Mr. Carlson, from Aerial Data Services, a new business in Lakeville introduced himself and gave a brief introduction to his business and services regarding construction, land development and real estate. 2. Approval of November 24, 2015 meeting minutes Comms. Matasosky/Scherer moved to approve the minutes of the November 24, 2015 meeting as presented. Motion carried unanimously. 3. Presentation of 2015 Economic Development Annual Report Mr. Olson presented the 2015 Economic Development Annual Report. 4. Review of Maxfield Research Presentation Mr. Olson introduced the attached Maxfield Research & Consulting presentation on the Twin Cities Real Estate Market Overview. The presentation provides an overview of Twin Cities real estate development, leasing and market values for 2015 as well as some forecasts for 2016. The information is provided as we prepare for proposals for higher density multi -family projects in 2016 and beyond. 5. Director's Report Mr. Olson reviewed the Director's Report. The City issued building permits with a total valuation of $200,897,819 in 2015. This was an increase of over $56 million compared to the 2014 total of $144,277,182. It is the third time in the City's history that building permits exceeded $200 million with the last time being 2004. The City issued commercial and industrial permits with a total valuation of $45,121,000 in 2015 compared to a total valuation of $13,798,000 during 2014. This is the highest valuation for commercial and industrial permits in the City's history. Previously the highest commercial and industrial valuation was $44,513,000 in 2004. Mr. Olson also provided a brief update on the reverse commuting initiative being led by the Lakeville Area Chamber of Commerce. The Planning Commission reviewed this ordinance at their January 21St Work Session. The Planning Commission indicated that they would be comfortable recommending reducing the rate of change for messages from 60 seconds to 30 seconds and would review the rate of change again in the future. The Planning Commission did not support any changes to the prohibition on animation, scrolling, flashing etc. 6. Adjourn Meeting adjourned at 5:42 p.m. Respectfully submitted by Rick Howden, Economic Development Specialist City of Lakeville Community & Economic Development Memorandum To: Economic Development Commission //// From: David L. Olson Community Communi and Economic Development Director Copy: Justin Miller, City Administrator Rick Howden, Economic Development Specialist Date: February 18, 2016 Subject: Review of Post / MOM Brands DEED Minnesota Investment Fund Loan Agreement and Tax Abatement Agreement City and State of Minnesota staffs have been working with Post Consumer Brands / MOM Brands staff for a number of months to finalize the agreements for the proposed State funded and City funded incentives that were offered last year to retain the Post Cereal Division Headquarters in Lakeville. The following is a summary of the agreements between the City of Lakeville, Minnesota Department of Employment and Economic Development and Post Consumer Brands doing business as MOM Brands Company LLC. DEED Minnesota Investment Fund Assistance The Minnesota Department of Employment and Economic Development (DEED) has awarded the City of Lakeville with a grant in the amount of $750,000 to assist with the retention of employees at Post Consumer Brands. Assistance from DEED`s Minnesota Investment Fund (MIF) will be provided in the form of a forgivable loan from the City. The City, DEED and Post have discussed and reached agreement on the language for the documents requiring approval before the funds will be released. The documents include a Grant Contract between DEED and the City and a Loan Agreement between the City and Post. Additionally, Post will submit a Promissory Note and Corporate Guaranty. The terms of the agreement include job and wage goals of 250 retained jobs paying a minimum hourly wage of $18.48 excluding benefits for a period of two years. If the job and wage goals are met by May 4, 2017, the loan will be forgiven. If the job and wage goals are not met by that date, the company will be required to repay a pro rata share of the loan plus interest at a rate of 3.25%. In addition to the job and wage goals, Post agrees to continue operations in the City of Lakeville through May 4, 2020. City of Lakeville Tax Abatement In addition to DEED's proposed job retention incentive, the City proposed an incentive of $375,000 to be provided through Tax Abatement. The terms of the City's incentive are similar to DEED's incentive. The City's Tax Abatement Agreement proposes to provide the $375,000 incentive after the 250 jobs have been retained by Post for one year which will be May 4, 2016. Similar to DEED's requirements, the 250 jobs have to be retained a minimum of two years and Post has to continue their operations in Lakeville for a minimum of five years or until 2020. The properties owned by Post are currently in a Tax Increment Financing (TIF) District until December 31, 2022 unless the City elects to de -certify the TIF District earlier. Staff is recommending an interfund loan of $375,000 from the City's General Fund. When this project was initially discussed last year, it was suggested that the Liquor Fund be used to fund the interfund loan. However, since then the planning for construction of a fourth liquor store near Keokuk Avenue and Co. Rd. 70 has advanced and it is recommended that the current balance of the Liquor Fund be retained for that purpose. Staff is providing options of an interest rate between 2 and 6% for the interfund loan. These different interest rate options represent the approximate current City investment earnings rate (2%), current short term prime rate (4%) and long term prime rate (6%). The City Council has the option to establish the interfund loan interest rate it feels is most appropriate. Because the Tax Abatement funds will not be generated for 7 years, it is recommended that interest accrue during this period. ACTION REQUESTED A public hearing is scheduled for Monday, March 7th to consider both the DEED Minnesota Investment Fund Loan Agreement and the Tax Abatement Agreement. A recommendation from the EDC on the proposed terms of these two agreements is requested. 2 Springsted Incorporated 380 Jackson Street, Suite 300 Saint Paul, MN 55101-2887 S R F i n 9 S t 2 d Tel: 651-223-3000 Fax: 651-223-3002 www.springsted.com MEMORANDUM TO: David Olson, Community and Economic Development Director Rick Howden, Economic Development Specialist FROM: Mikaela Huot, Vice President/Consultant DATE: February 19, 2016 SUBJECT: MOM Brands LLC Tax Abatement The City of Lakeville has agreed to provide tax abatement assistance to MOM Brands LLC for the retention of at least 250 jobs within the City. A public hearing will be held on March 7, 2016 to consider the tax abatement assistance and business subsidy and Development Agreement between the City and MOM Brands LLC. The anticipated terms of assistance to be considered as a business subsidy is the granting of $375,000 of tax abatement assistance upfront. The property is currently within an existing Tax Increment Financing District and the City will establish the tax abatement following termination of the district (anticipated to be as of December 31, 2022 with first abatement for taxes payable 2023). It is anticipated the City will establish an interfund loan in the amount of the assistance and capitalize the interest on an annual basis until the abatement dollars are available. The City will recapture the tax abatement revenues on an annual basis, presumably with an interest rate component (as further outlined in this memorandum), to pay the accrued and unpaid interest and principal. The maximum term of the abatement is anticipated to be up to 10 years and the interest rate is estimated to have an impact on what the actual term may be. The purpose of this memo is to provide the tax abatement revenue projections and interfund loan amounts based on the information available as outlined below. The tax abatement revenue projections are based on the current land and building values of the properties, as described further in the assumptions. Tax Abatement Background A city may grant a tax abatement, by contract or otherwise, of the taxes imposed by the city on a parcel of property, which may include personal property and machinery, or defer the payments of the taxes and abate the interest and penalty that otherwise would apply, if: • it expects the benefits to the city of the proposed abatement agreement to at least equal the costs to the city of the proposed agreement or intends the abatement to phase in a property tax increase, as provided in clause (2)(vii); and City of Lakeville, Minnesota MOM Brands LLC Tax Abatement February 19, 2016 Page 2 • it finds that doing so is in the public interest because it will: o increase or preserve tax base; o provide employment opportunities in the political subdivision; o provide or help acquire or construct public facilities; o help redevelop or renew blighted areas; o help provide access to services for residents of the political subdivision; o finance or provide public infrastructure; o phase in a property tax increase on the parcel resulting from an increase of 50 percent or more in one year on the estimated market value of the parcel, other than increase attributable to improvement of the parcel; or o stabilize the tax base through equalization of property tax revenues for a specified period of time with respect to a taxpayer whose real and personal property is subject to valuation under Minnesota Rules, chapter 8100. The maximum term of a tax abatement is 15 years if all three entities participate (City, County and School District) and up to 20 years if two or fewer entities participate and a participating entity either receives denial of participation or 90 days from the period in which participation was requested pass with no response. Tax Abatement Assumptions Springsted made certain assumptions to calculate the estimated amount of tax abatement revenues generated by the project. Those assumptions include the following: • City Participation Only • Tax Abatement Term o Maximum up to 10 years o Commencing upon TIF District No. 10 decertification o First year taxes payable 2023 • Abatement of existing land and building o Value as of assess Jan. 1, 2015 for taxes payable 2016 o PID: 22-24500-01-021: $5,949,000 o PID: 22-24500-01-022: $4,494,600 o Total existing land and building value: $10,443,600 18 Payable 2016 tax rates remain constant through district term o City: 39.067% o County: 28.589% o ISD 194: 32.682% o Other (v): 5.061% o Total: 105.399% • Current class rates remain constant through abatement term o 1.5% first $150,000 value and 2% value above $150,000 • No annual market value inflator City of Lakeville, Minnesota MOM Brands LLC Tax Abatement February 19, 2016 Page 3 Tax Abatement Revenue Estimates The City is financing the abatement assistance on an upfront basis and has agreed to provide assistance in the amount of $375,000 following the scheduled public hearing on March 7, 2016. Because the property is currently within an existing TIF District, the tax abatement on the property will not commence until termination of the TIF District (anticipated to be as of December 31, 2022 with first year of the abatement in 2023). As a result, it is anticipated that the City will finance the assistance as an interfund loan with an interest component to be determined. The following table provides a range of total loan payments based on varying interest rates: Scenario 1 Term Up to 10 Years Fiscal Disparities Election Not From Abatement Property Annual Abatement Revenue $81,307 Interfund Loan Interest Rate 2% Estimated Total Net Revenue $813,070 The City is financing the abatement assistance on an upfront basis and has agreed to provide assistance in the amount of $375,000 following the scheduled public hearing on March 7, 2016. Because the property is currently within an existing TIF District, the tax abatement on the property will not commence until termination of the TIF District (anticipated to be as of December 31, 2022 with first year of the abatement in 2023). As a result, it is anticipated that the City will finance the assistance as an interfund loan with an interest component to be determined. The following table provides a range of total loan payments based on varying interest rates: Thank you for the opportunity to be of assistance to the City of Lakeville. Please let us know if you have any questions or need additional information. Please feel free to contact me by phone at 651.223.3036 and email at mhuot(cD.sprinQsted.com. Scenario 1 Scenario 2 Scenario 1 Maximum Term Up to 10 Years Up to 10 Years Up to 10 Years Interfund Loan Interest Rate 2% 4% 6% Annual Abatement Revenue $81,307 $81,307 $81,307 Estimated Total Net Revenue $813,070 $813,070 $813,070 Loan Principal $375,000 $375,000 $375,000 Loan Interest $77,385 $170,638 $285,210 Total Loan Payments $452,385 $545,638 $660,210 Estimated Surplus Revenues $360,685 $267,433 $152,860 Estimated Total Abatement Years 5.5+ years 7 vears 8+ ears Thank you for the opportunity to be of assistance to the City of Lakeville. Please let us know if you have any questions or need additional information. Please feel free to contact me by phone at 651.223.3036 and email at mhuot(cD.sprinQsted.com. O O O O O O O r r r r r r r r r r O 0 Co 0 0 0 0 0 0 0 0 O r M M M M M M M M M M O E N N r T r r T r T T r T T co OO 00 00 00 00 00 00 00 00 M 00 1106 O 00 0000000000000 000 Olfl N C w tV LD \ C m oo N N � m O U fA U C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 OE f t6 C y � LO H V � N � w ns O �-0 r 0 0 0 0 0 0 r r r r r r r r r r0 0 o O o r 0000000000 cM cM Cli cM M M M cM CM M r O _co y t0 N O O HUS, T T T T T T T T r r OD 00 CO 00 O0 OD CO CO 00 OD M M 6s Z ca U � 0 0 0 0 0 0 0 0 to to O O to o 07 O O O 0 LO to to LO Lo M m In In O o O � x M M M M M M M M M M m m W m Ln M O Rf v_, f6 Op m m m o o O r r T r T T r T r r o y H~ N N N N N N N N N N N O ca ro 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 y m _ N X � a rnrnrnrnrnrnrnrnrnrn0)G)0) M 0) 0) 0) 0) rn rn rn rn rn rn rn rn rn rn a: rn rn rn rn m rn rn its , O fO N O r M M M M M M M M M M M M M. M M CM M C C CL H l0. M) Ln V) LA Lt) V) LO Ln LO Lo Lt) Lo LO LO LO Lo LO LO CoO O O O O O O Clo 0 0 0 0 0 0 0 0 0 0 •�" (70 U T T T T T T T T r r r T r r T r r T y Q o .E O O O O O O O N N N N N N N N N N O CO [1�• d VF2 OD w 00 00 OD 00 00 00 00 m 0000000000 (D UZ U N N N N N N N N N N � 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 aO m V O pj f6 O w NO y JLL O (0 _ N N N N N NT rTTTT T(V (D L U) m gm COD OD co OD co co co N N N N NN2 N �+ O N CL N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N C E Q U r T r r T T T r T T T T T T T r r r •Fr (.i co N to M Q oDOD000O0Oc0000oOOD00ODo00oOO 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 N N N N N N N N N N N N N N N N N N Q V U m O OJ NQ w c +' d -W ANJ 0 0000000000000 0 0 Cl 0 0 0 0 cO x C u _ 0 c•� Ota -p o$$$ O o 0 0 0 0 (O(D(D(Dcoo(O(DO(Dc000(O(Dcoco(D m V- Cl E� o E NJlp O N dam' V O O = ~ to Y W 000000000000000000 m >N ~ >°'tea `� QL CD 0°' E (B (a m +�+ O t4 p 0 C o T tD O O r N M L1) (O r oD O O T N M Vj � N 02 w Co Q 7 O ' - T T T T T r T T T T T r r r T r r T r M M M M M M M M M M M M M M M M M M _N L- 0)•O K ti O nn� C y W (� N l� Z;4 (� (� (� (� (Z iN (� (� (� liz (11 (� T r T T r r T T T r r r T T T T T T f� a �2 �a a 0�24 `� City of Lakeville, Minnesota MOM Brands LLC Tax Abatement February 19, 2016 Page 5 Projected Interfund Loan Report City of Lakeville, Minnesota Tax Abatement Project for MOM Brands Company LLC $375,000 Upfront Assistance plus accrued interest at 2% Note Date: 03/07/16 Note Rate: 2.00% Amount: $375,000 Cumulative Unpaid Semi -Annual Loan Interest Accrued Net Balance Date Principal Interest P & I Due Interest Revenue Outstanding (1) (2) (3) (4) (5) (6) (7) (8) 375,000.00 08/01/17 0.00 0.00 0.00 10,500.00 10,500.00 0.00 375,000.00 02/01/18 0.00 0.00 0.00 14,250.00 14,250.00 0.00 375,000.00 08/01/18 0.00 0.00 0.00 18,000.00 18,000.00 0.00 375,000.00 02/01/19 0.00 0.00 0.00 21,750.00 21,750.00 0.00 375,000.00 08/01/19 0.00 0.00 0.00 25,500.00 25,500.00 0.00 375,000.00 02/01/20 0.00 0.00 0.00 29,250.00 29,250.00 0.00 375,000.00 08/01/20 0.00 0.00 0.00 33,000.00 33,000.00 0.00 375,000.00 02/01/21 0.00 0.00 0.00 36,750.00 36,750.00 0.00 375,000.00 08/01/21 0.00 0.00 0.00 40,500.00 40,500.00 0.00 375,000.00 02/01/22 0.00 0.00 0.00 44,250.00 44,250.00 0.00 375,000.00 08/01/22 0.00 0.00 0.00 48,000.00 48,000.00 0.00 375,000.00 02/01/23 0.00 0.00 0.00 51,750.00 51,750.00 0.00 375,000.00 08/01/23 0.00 40,653.51 40,653.51 55,500.00 14,846.49 40,653.51 375,000.00 02/01/24 22,057.02 18,596.49 40,653.51 18,596.49 0.00 40,653.51 352,942.98 08/01/24 37,124.08 3,529.43 40,653.51 3,529.43 0.00 40,653.51 315,818.90 02/01/25 37,495.32 3,158.19 40,653.51 3,158.19 0.00 40,653.51 278,323.58 08/01/25 37,870.27 2,783.24 40,653.51 2,783.24 0.00 40,653.51 240,453.31 02/01/26 38,248.98 2,404.53 40,653.51 2,404.53 0.00 40,653.51 202,204.33 08/01/26 38,631.47 2,022.04 40,653.51 2,022.04 0.00 40,653.51 163,572.86 02/01/27 39,017.78 1,635.73 40,653.51 1,635.73 0.00 40,653.51 124,555.08 08/01/27 39,407.96 1,245.55 40,653.51 1,245.55 0.00 40,653.51 85,147.12 02/01/28 39,802.04 851.47 40,653.51 851.47 0.00 40,653.51 45,345.08 08/01/28 40,200.06 453.45 40,653.51 453.45 0.00 40,653.51 5,145.02 02/01/29 5,145.02 51.45 5,196.47 51.45 0.00 5,196.47 0.00 08/01/29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $375,000 $77,385.08 $452,385.08 $452,385.08 Surplus Revenue 360,685.14 Total Net Revenue $813,070.22 City of Lakeville, Minnesota MOM Brands LLC Tax Abatement February 19, 2016 Page 6 Projected Interfund Loan Report City of Lakeville, Minnesota Tax Abatement Project for MOM Brands Company LLC $375,000 Upfront Assistance plus accrued interest at 4% Note Date: 03/07/16 Note Rate: 4.00% Amount: $375,000 Cumulative Unpaid Semi -Annual Loan Interest Accrued Net Balance Date Principal Interest P & I Due Interest Revenue Outstanding (1) (2) (3) (4) (5) (6) (7) (8) 375,000.00 08/01/17 0.00 0.00 0.00 21,000.00 21,000.00 0.00 375,000.00 02/01/18 0.00 0.00 0.00 28,500.00 28,500.00 0.00 375,000.00 08/01/18 0.00 0.00 0.00 36,000.00 36,000.00 0.00 375,000.00 02/01/19 0.00 0.00 0.00 43,500.00 43,500.00 0.00 375,000.00 08/01/19 0.00 0.00 0.00 51,000.00 51,000.00 0.00 375,000.00 02/01/20 0.00 0.00 0.00 58,500.00 58,500.00 0.00 375,000.00 08/01/20 0.00 0.00 0.00 66,000.00 66,000.00 0.00 375,000.00 02/01/21 0.00 0.00 0.00 73,500.00 73,500.00 0.00 375,000.00 08/01/21 0.00 0.00 0.00 81,000.00 81,000.00 0.00 375,000.00 02/01/22 0.00 0.00 0.00 88,500.00 88,500.00 0.00 375,000.00 08/01/22 0.00 0.00 0.00 96,000.00 96,000.00 0.00 375,000.00 02/01/23 0.00 0.00 0.00 103,500.00 103,500.00 0.00 375,000.00 08/01/23 0.00 40,653.51 40,653.51 111,000.00 70,346.49 40,653.51 375,000.00 02/01/24 0.00 40,653.51 40,653.51 77,846.49 37,192.98 40,653.51 375,000.00 08/01/24 0.00 40,653.51 40,653.51 44,692.98 4,039.47 40,653.51 375,000.00 02/01/25 29,114.04 11,539.47 40,653.51 11,539.47 0.00 40,653.51 345,885.96 08/01/25 33,735.79 6,917.72 40,653.51 6,917.72 0.00 40,653.51 312,150.17 02/01/26 34,410.51 6,243.00 40,653.51 6,243.00 0.00 40,653.51 277,739.66 08/01/26 35,098.72 5,554.79 40,653.51 5,554.79 0.00 40,653.51 242,640.94 02/01/27 35,800.69 4,852.82 40,653.51 4,852.82 0.00 40,653.51 206,840.25 08/01/27 36,516.70 4,136.81 40,653.51 4,136.81 0.00 40,653.51 170,323.55 02/01/28 37,247.04 3,406.47 40,653.51 3,406.47 0.00 40,653.51 133,076.51 08/01/28 37,991.98 2,661.53 40,653.51 2,661.53 0.00 40,653.51 95,084.53 02/01/29 38,751.82 1,901.69 40,653.51 1,901.69 0.00 40,653.51 56,332.71 08/01/29 39,526.86 1,126.65 40,653.51 1,126.65 0.00 40,653.51 16,805.85 02/01/30 16,805.85 336.12 17,141.97 336.12 0.00 17,141.97 0.00 08/01/30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $375,000 $170,637.60 $545,637.60 $545,637.60 Surplus Revenue 267,432.62 Total Net Revenue $813,070.22 City of Lakeville, Minnesota MOM Brands LLC Tax Abatement February 19, 2016 Page 7 Projected Interfund Loan Report City of Lakeville, Minnesota Tax Abatement Project for MOM Brands Company LLC $375,000 Upfront Assistance plus accrued interest at 6% Note Date: 03/07/16 Note Rate: 6.00% Amount: $375,000 Cumulative Unpaid Semi -Annual Loan Interest Accrued Net Balance Date Principal Interest P & I Due Interest Revenue Outstanding (1) (2) (3) (4) (5) (6) (7) (8) 375,000.00 08/01/17 0.00 0.00 0.00 31,500.00 31,500.00 0.00 375,000.00 02/01/18 0.00 0.00 0.00 42,750.00 42,750.00 0.00 375,000.00 08/01/18 0.00 0.00 0.00 54,000.00 54,000.00 0.00 375,000.00 02/01/19 0.00 0.00 0.00 65,250.00 65,250.00 0.00 375,000.00 08/01/19 0.00 0.00 0.00 76,500.00 76,500.00 0.00 375,000.00 02/01/20 0.00 0.00 0.00 87,750.00 87,750.00 0.00 375,000.00 08/01/20 0.00 0.00 0.00 99,000.00 99,000.00 0.00 375,000.00 02/01/21 0.00 0.00 0.00 110,250.00 110,250.00 0.00 375,000.00 08/01/21 0.00 0.00 0.00 121,500.00 121,500.00 0.00 375,000.00 02/01/22 0.00 0.00 0.00 132,750.00 132,750.00 0.00 375,000.00 08/01/22 0.00 0.00 0.00 144,000.00 144,000.00 0.00 375,000.00 02/01/23 0.00 0.00 0.00 155,250.00 155,250.00 0.00 375,000.00 08/01/23 0.00 40,653.51 40,653.51 166,500.00 125,846.49 40,653.51 375,000.00 02/01/24 0.00 40,653.51 40,653.51 137,096.49 96,442.98 40,653.51 375,000.00 08/01/24 0.00 40,653.51 40,653.51 107,692.98 67,039.47 40,653.51 375,000.00 02/01/25 0.00 40,653.51 40,653.51 78,289.47 37,635.96 40,653.51 375,000.00 08/01/25 0.00 40,653.51 40,653.51 48,885.96 8,232.45 40,653.51 375,000.00 02/01/26 21,171.06 19,482.45 40,653.51 19,482.45 0.00 40,653.51 353,828.94 08/01/26 30,038.64 10,614.87 40,653.51 10,614.87 0.00 40,653.51 323,790.30 02/01/27 30,939.80 9,713.71 40,653.51 9,713.71 0.00 40,653.51 292,850.50 08/01/27 31,867.99 8,785.52 40,653.51 8,785.52 0.00 40,653.51 260,982.51 02/01/28 32,824.03 7,829.48 40,653.51 7,829.48 0.00 40,653.51 228,158.48 08/01/28 33,808.76 6,844.75 40,653.51 6,844.75 0.00 40,653.51 194,349.72 02/01/29 34,823.02 5,830.49 40,653.51 5,830.49 0.00 40,653.51 159,526.70 08/01/29 35,867.71 4,785.80 40,653.51 4,785.80 0.00 40,653.51 123,658.99 02/01/30 36,943.74 3,709.77 40,653.51 3,709.77 0.00 40,653.51 86,715.25 08/01/30 38,052.05 2,601.46 40,653.51 2,601.46 0.00 40,653.51 48,663.20 02/01/31 39,193.61 1,459.90 40,653.51 1,459.90 0.00 40,653.51 9,469.59 08/01/31 9,469.59 284.09 9,753.68 284.09 0.00 9,753.68 0.00 02/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 08/01/32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 02/01/33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $375,000 $285,209.84 $660,209.84 $660,209.84 Surplus Revenue 152,860.38 Total Net Revenue $813,070.22 Memorandum City of Lakeville Community & Economic Development To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Justin Miller, City Administrator Rick Howden, Economic Development Specialist Date: February 18, 2016 Subject: Update on Co. Rd. 50 and Co. Rd. 5 Improvement Projects City staff is spending considerable time on two separate County Road projects that impact existing commercial areas. Attached are the current design concepts that are being considered for both. Staff will provide a verbal update on the status of both of these projects at Tuesday's meeting. GENERAL NOTES: L '` • Stormwater treatment maybe required with new , t building or building expansions. .' .. Administrative variances to required setbacks will be needed for all existing buildings. • All existing access on CSAH 50 and IcenicTrail removed and relocated to backage road. �xa Newho,perty uildingSetbackf arkin Setback`. Boundary ° L/ �`V �\��� .1 >'.4*.. X - 773 . - ,r equiresAssembl� r' A ofSchool0istnct RE �E IAE L0 P NI,ENTPAR<: E l .. r ti. Prue 2.6 aicres /•7�iV so — am L . . LEGEND In New Signage Location Potential Stormwater Treatment Trail Route i._ New Building Zone Existing Building Possible Building Expansion t f2• I s 6' MEDIAN is RAlCRI6NT 0f WA}r Property impacts — Concept C-1 Existing Area of land 4i � i Zi• Required Af � Roadway Parch Buitding Potential Existing Resuking Parking for ► �a Area Acquisition Adjustment Area Area Expansion Barking 77777 Future EMOHD 22,651 sf 0.52 acres FULL n/a n/a 4,048 sf 12' KENWO TRAIL (C�AHSD) 19 stalls n/a n/a fz 21,275 sf 0.49 ayes 5,075 sf +14,890 sf4,051 31,090s f 0.72 acres sf 1,450 sf 20 stalls L . . LEGEND In New Signage Location Potential Stormwater Treatment Trail Route i._ New Building Zone Existing Building Possible Building Expansion t f2• I s 6' MEDIAN is RAlCRI6NT 0f WA}r Property impacts — Concept C-1 (1) Based on 8,000sf of commercial/office use. (2) Assumes acquisition of residential property and purchase agreement with Newhall. M3 ' IT 134W. ,1 a DRAFT UP)DATF- 3. 23 February 2015 Stl, ry Y r= 4. f 'Al � �I- i �IfHITE i -51 aerI 898 sf — o iI RI":€i+ r� v� fps 0.96 5f -- Parkii;�Lotor 's ares - A(cc s C oyid:I A (ZI Existing Area of land Resulting Existing Required IMPACTS Parcel Roadway Parch Buitding Potential Existing Resuking Parking for ► �a Area Acquisition Adjustment Area Area Expansion Barking Parking Future EMOHD 22,651 sf 0.52 acres FULL n/a n/a 4,048 sf n/a 19 stalls n/a n/a HARRISON 21,275 sf 0.49 ayes 5,075 sf +14,890 sf4,051 31,090s f 0.72 acres sf 1,450 sf 20 stalls 24 stalls 25 WHITE 73,181 sf 1.68 acres -20,283 sf +16,091 sf 68,989 sf 1.58 ayes 6,861 sf 1,450 sf IMCDONALD 119 stalls 115 stalls undefined 58,370 sf .17,267 sf + 10,150 sf .1 51,263 sf 3,329 sf 8,0D0 sf 36 stalls 68 stalls 36M 1.34 acres 1.18 acres (new bldg.) REDEVLEDPMENT�°f n/a n/a n/a 111,050 sf n/a n/a n/a Up to 130 Up to 2.6 acres 28,600 sf (1) Based on 8,000sf of commercial/office use. (2) Assumes acquisition of residential property and purchase agreement with Newhall. M3 ' IT 134W. ,1 a DRAFT UP)DATF- 3. 23 February 2015 Stl, ry Y r= 4. f 'Al � �I- i �IfHITE i -51 aerI 898 sf — o iI RI":€i+ r� v� fps 0.96 5f -- Parkii;�Lotor 's ares - A(cc s C oyid:I A (ZI clrrlilat'�l°J J Jj Z.Existing Building Area Existing Building, d = 9,1757 sf Area= 6,861 sf 2, ► �a I�QfPrrCrtrltor�Cs7il�,�prCipn �' I u(existrrlgp�rk�nglor ,�C%�S �� is L�. g Arress Lioseri r. . s : . to, kit" CSAH 50 Kenwood Corridor Study - 2015 EN Concept O-1 0 40 80 � FEET t a 1 Property Impacts — Concept C-2 GENERAL NOTES: ) Stormwater treatment may be required with new 4 `` building or building expansions. • Administrative variances to required setbacks will be needed for all existing buildings. ' • All existing access on CSAH 50 removed and relocatedT Y ° to new drive or Icenic Trail. ..:. '» Building Setback ,4 3 4: Parking Setback KAH UIOUAx 93 February 20. F , ,1 New Property ,' '>� .4 :-° s, (1) Assumes all commercial use. \ oundary r i,. (2) Approximate area of FARM SHOW building only. (3) Combination of residential property acquired for roadway.} t x ; Po ten al ParkingVf a p a . t _ .'... NEWHALL 42,x, , �' MewDriveAaessto. , x r „s-' t .,,, -� - ,,�, c � Q (3 spares) +i' 5 3 acres / 100,015`: , y !O F a : k # w©riveAccess to y _ I Fri (6 MSfareaofeasement ' u "* �' hltePrort pe Y"' ' p forcross-access ) ;.. .: Z equifesAssembly . x.r, ) `' h. f • qL. " of School District � r.- <1.,30 f Property ' 1,A acres/! 7f1,47�5sf 4 46 parking s ace — +. ,-aa _ -- P 9 P s , - j It parkingspa es " ewDriveAaessto �,. rris+�n Property • ups s$ 6 parking 2 i spaces I�:I 5p Qacesiffsfll k P+ r NE .: _ p; X - -v..: ..s. 7 •'r` tee, y';: .E;...# 0.lid k, F Y w. a r- PARCEL - EVE ,PARENT Pd1EL, 76 par s"pa i ��� --�-ExistingL i (-- ,Building Area 3� .. „� n , filt'a — L1 T Ulr4prkf'3pa7 ;ir Existing Building — Ij=�4,t151sf 2 It Existing Building Area — ExistingAreo = 3,319 sf Area = 6,Bb l sfIt t : pprox iiQ sf 4 8 } I�bnl�{f;ESS LfOSlff. r Tam 12' 17 t2' ., _ _ f�, ` Access trufrlwolearn€a ' - IT t2' s _ _ RAIL RIGHT OF -WAY - LEGEND Easement m- NewSignageLocation New Building Zone Potential Stormwater Treatment Existing Building Trail Route Possible Building Expansion CSAH 50 Kenwood Condor Study - 2015 Conil--P-xDff C-2 >a16° ►Aoa ts' r MAN is r► IF 12° 0 40 80 ®la — FEET Ion Existing Area of Resulting Existing Required IMPACTS Parcel Roadway Land Parcel Building Potential Existing Resulting Parking for Area Acquisition Adjustment Area Area Expansion Par king Parking Future EMOND 22,651 sf FULL n/a n/a 3,258 sf n/a 19 stalls n/a n/a 0.52 acres HARRISON 21,275 sf 5,075 sf +10,570 sf 26,770 sf 4,051 sf 1,450 sf 20 stalls 26 stalls 25 0.49 acres 0.62 acres WHITE 73,181 sf -7,783 sf +12,017 sf 77,415 sf 6,861 sf 1,450 sf 119 112 stalls undefined 1.68 acres 1.78 acres stalls (+30 add.) MCDONALD 58,370 sf 7,267 sf n/a 51,103 sf 3,329 sf n/a 36 stalls 46 stalls 150 1.34 acres 1.17 acres NEWHALL (1) 26,431 sf -12,498 sf n/a 13,933 sf 3,500 sf Zi n/a 15 stalls 16 stalls 15 stalls 0.61 acres 0.32 acres 100,015 sf 6,573 sf 100,015 sf NEWHALL (2) 2.3 acres 0 lcro-- 2.3 acres 0 sf undefined n/a n/a n/a easement I REDEVELOPMENT(3) n/a n/a n/a 700 sf n/a undefined n/a n/a n/a .i� acres KAH UIOUAx 93 February 20. F , ,1 New Property ,' '>� .4 :-° s, (1) Assumes all commercial use. \ oundary r i,. (2) Approximate area of FARM SHOW building only. (3) Combination of residential property acquired for roadway.} t x ; Po ten al ParkingVf a p a . t _ .'... NEWHALL 42,x, , �' MewDriveAaessto. , x r „s-' t .,,, -� - ,,�, c � Q (3 spares) +i' 5 3 acres / 100,015`: , y !O F a : k # w©riveAccess to y _ I Fri (6 MSfareaofeasement ' u "* �' hltePrort pe Y"' ' p forcross-access ) ;.. .: Z equifesAssembly . x.r, ) `' h. f • qL. " of School District � r.- <1.,30 f Property ' 1,A acres/! 7f1,47�5sf 4 46 parking s ace — +. ,-aa _ -- P 9 P s , - j It parkingspa es " ewDriveAaessto �,. rris+�n Property • ups s$ 6 parking 2 i spaces I�:I 5p Qacesiffsfll k P+ r NE .: _ p; X - -v..: ..s. 7 •'r` tee, y';: .E;...# 0.lid k, F Y w. a r- PARCEL - EVE ,PARENT Pd1EL, 76 par s"pa i ��� --�-ExistingL i (-- ,Building Area 3� .. „� n , filt'a — L1 T Ulr4prkf'3pa7 ;ir Existing Building — Ij=�4,t151sf 2 It Existing Building Area — ExistingAreo = 3,319 sf Area = 6,Bb l sfIt t : pprox iiQ sf 4 8 } I�bnl�{f;ESS LfOSlff. r Tam 12' 17 t2' ., _ _ f�, ` Access trufrlwolearn€a ' - IT t2' s _ _ RAIL RIGHT OF -WAY - LEGEND Easement m- NewSignageLocation New Building Zone Potential Stormwater Treatment Existing Building Trail Route Possible Building Expansion CSAH 50 Kenwood Condor Study - 2015 Conil--P-xDff C-2 >a16° ►Aoa ts' r MAN is r► IF 12° 0 40 80 ®la — FEET Ion R =360' N go- 1� 4 A 1.26AC TE F X I S T ING R/W N 57AC Sl TE V Vy; 40t '41 134312 H WOOD TRAIL FIGURE 14% P ONE: (651)490-2000 72ND ST.& KEN SEH3535 VADNAIS CENTER DR. DATE: IMPROVEMENTS No. 1 ST. PAUL, MN 55110 12/10/2015 Lakeville .raw Memorandum 5 City of Lakeville Community & Economic Development To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Justin Miller, City Administrator Rick Howden, Economic Development Specialist Date: February 18, 2016 Subject: February Director's Report The following is the Director's Report for February 2016. Building Permit Report The City has issued building permits with a total valuation of $8,776,812 through January. This compares to a total valuation of $9,728,698 for building permits issued in January of 2015. The City issued commercial and industrial permits with a total valuation of $678,000 in January compared to a total valuation of $45,000 during the same period in 2015. The City has also issued permits for 20 single family homes in January with a total valuation of $5,970,000. This compares to 19 single family home permits in January of 2015 with a total valuation of $6,366,000. The City also issued permits for 3 townhome units in January with a total valuation of $765,000. This compares to 10 townhome permits issued in January of 2015 with a total valuation of $2,504,000. Board and Commission Appreciation Event If you have not already done so, please mark your calendars for Tuesday, March 151h for the annual Board and Commission Appreciation Event at 6:00 p.m. at the Lakeville Area Art Center. If you have not already RSVP'd, please do so. Possible Annexation of Airlake Airport Attached are two recent newspaper articles on the discussions involving the possible annexation of the Airlake Airport from Eureka Township to the City of Lakeville. The City was approached by the Metropolitan Airports Commission (MAC) about the possible annexation of the Airport several months ago. The City Council authorized staff to explore this issue further with Township and MAC officials. The one article summarizes the Eureaka Township discussion that took place at their February 8th meeting. Proposed Zoning Ordinance Amendments The Planning Commission will be considering several zoning ordinance amendments at a public hearing on March 3rd. Included in these amendments is a change that would reduce the rate of change for messages from 60 seconds to 30 seconds for electronic message board signs, a change to the sign ordinance for businesses close to the 1-35 corridor that would allow wall signs on building elevations that face the freeway. This change would allow the Candlewood Suites hotel currently under construction to have wall signage facing 1-35 whereas the current ordinance does not. Interest in Apartment Development in Lakeville Staff continues to receive inquiries from private developers interested in a variety of types of multi -family apartment developments. The types of projects range from market rate, to affordable senior apartments to affordable workforce apartment development. Some of these proposed projects would require changes to current zoning ordinance requirements or zoning designations. In addition, several developers are inquiring about options for housing tax credits and/or tax increment financing to make their projects affordable. These issues may result in the need for a joint meeting of the EDC, Planning Commission and City Council in the next few months. Possible Reverse Commuting Service to the Industrial Park Tim Roche and the Lakeville Area Chamber of Commerce has facilitated several meetings with Metro Transit, Dakota County and a number of the larger businesses in the Industrial Park to discuss the possibility of providing a shuttle van or small bus to transport workers from the Apple Valley Transit Station to the Industrial Park. There appears to be interest with a number of the businesses and Metro Transit has a program that could provide partial funding for this type of service. There is an expectation that businesses will also contribute to the cost of this service. Staff will provide updates on this possible service as the discussions progress. 2 �o c� S oo SSS S o S S S o S S S S S S o SSS S S cA W o�ro�orn000 W oo 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o c o 0 N cG� kn z a a CO I� M T M M 00 r- N � U H > > U b�+ o ¢ z Q a z 7E ani o a oo U to OJ5 CO) o a G 8 O O° a c o a"i 'C 3 N o o a"i Uv— FF¢¢cocaQAwwa 3 a°O axxrxx�r: �3 v� w w o S SSS o S SSSS SSSS S o S S SSSS o 0 0 o S S o SSS o ZW ' N O S S O 0000 S S S S S S S S S O S S S O S S S S O O S S O S 0 0 0 0 0 0 0 0 0 0 0 00 00 0 0 o g o 0 0 0 0 0 00 o O o O O O O O O O O O O O O O N 0 0 0 G O O •', CrO�n o \0 oN rn � N O to N �O W a a M 00 M y W O 1 O O kn 0 0 0 0 0 0 0 0 0 0 0 to O O O O v) 0 0 0 0 0 0 O N W') 0 0 0 0 0 l" v1 O S 0 0 0 0 0 0 l- Wn 0 0 v1 l- v1 O O O O O W O� O M 0 0 6 0 0 O,* 0 0 0 0 0 0 6 0 O_ O O��� O O O 0 6 c O � O N ON M N �c 'Zt tn N N CO I� M T M M 00 r- N � U H > > U b�+ o ¢ z Q a z 7E ani o a oo U to OJ5 CO) o a G 8 O O° a c o a"i 'C 3 N o o a"i Uv— FF¢¢cocaQAwwa 3 a°O axxrxx�r: �3 v� w w W N O S S O 0000 S S S S S S S S S O S S S O S S S S O O S S O S o O o O O O O O O O O O O O O O N 0 0 0 G O O •', M z M 00 M y 94.4 0 : FSI p p p p p p pp p pp p S p O pp p p S O S O S O S S S S S S S S S U hal C O O O 08 O 6 0 o 0 C O o 0 do 0 0 0 0 C O C O 0 O 0 0 0 0 0 0 0 0 o 0 Ole z Q o o S 0Oo S a O b 00 N cq M F � � W � U � W Ln pp O O kn O O to 0 0 0 0 0 0 vl O O O O O O N O O O O Ln 0 0 0 0 0 0 0 FW N N 0 0 t� �n O l O O O O O O N O 0 0 0 0 0 �n O O O O N W) O O O O to O 0 6� Q� CD, "o, 0 0 0 0 Q� O 0 0 0 0 0 v1 O� O O O T M l- F- N N N CO I� M T M M 00 r- N � U H > > U b�+ o ¢ z Q a z 7E ani o a oo U to OJ5 CO) o a G 8 O O° a c o a"i 'C 3 N o o a"i Uv— FF¢¢cocaQAwwa 3 a°O axxrxx�r: �3 v� w w 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C O O O O O O O O C O O G O C O O O O O O O O C O 0 0 0 0 0 0 0 0 O O O O O O O O O O O O O O O O O O O O O O O O pp 0 0 0 0 0 0 0 O O O O O O O p O 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O O O M O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 � O o If)0 0 0m 0 00 If)0 0 0 0 0 0 0 0 0 0 0 0 0 0 W) o 0 0 o S o 0 0 O O 0 O C O rnC vi C a< (V 0�C C O C 0� O O� C T 00 v) C C a, �n C O� O 0� C C O Cl) 00 GN M --� 01 M O) l— M O 00 M O1 C� l— O O O N to — w vn — O o 0 0 Orn O O N 0— C� 0 0 0 — t— O N O N O O O I ^ N m m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O O C O V V V O V O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O C 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O S 0 C C o C o 0C C C o C C C C O C o C o C C g C o C C C C o 0 o C C C � � M O O O O [l- O O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 v'. 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St. Paul 2 W. St. Paul 5 Townships 2 Undecided Location 18 Industry Segment.- egment. RetaiI 33 Service 117 Food 41 Manufacturing 10 Technology 1 Health/Fitness 2 Construction/Related Trades 5 Referral Source: Municipalities/CDA 102 Chamber 5 Internet 13 Friends/Family 19 Other (Banks, Schools, Etc.) 50 Hours of Direct Service: 1St Quarter 633.25 2nd Quarter 509.00 3rd Quarter 436.00 4th Quarter 516.25 Business • Government 2015 record-breaking year for Lakeville Published February 4, 2016 at 8:39 am By Laura Adelmann Commercial development hits all-time high 2015 was a very good year for economic development in the city of Lakeville. The city sold an unprecedented $45.1 million in commercial and industrial permits last year, and issued $200.8 million worth of building permits, third highest in the city's history. "You can see that post -Recession, things have really taken off here in Lakeville," Community and Economic Development Director Dave Olson told the City Council at its Feb. 1 meeting. Total permit valuations fell just behind the city's high-water mark of $250 million in 2003 and $239 million in 2004, according to Olson. The top three commercial projects that contributed most significantly to the high permit valuations were Hy -Vee Grocery store ($8.4 million), the BTD Manufacturing expansion ($8.2 million) and FedEx Freight, Olson said. Other commercial projects the city permitted last year include Candlewood Suites, Allina Clinic, Applied Power Products, the Lakeville Medical Building, Goddard School, SuperAmerica and Mendell. "It's a real broad combination of retail, office, manufacturing, warehouse and a pretty good combination of expansion of existing businesses and new businesses coming to town," Olson said. Lakeville ended 2015 with 382 residential permits issued, the most of any city in the state of Minnesota, Olson said, adding that Rochester came in second with 289 residential permits last year. "This is the third year in a row that Lakeville was the highest in the Twin Cities for single- family permits," Olson said. Lakeville issued 420 residential permits, including single-family and townhomes; the city had no apartment building permits last year. Of the residential permits issued, 307 of them were issued to properties located in Lakeville Area School District 194, 33 were issued in Farmington School District 192 and 80 were issued in the northeast part of the city, which is part of Rosemount -Apple Valley - Eagan District 196. Five of the top businesses that moved to or expanded in Lakeville last year received a total of $3.84 million in incentives from the city and $3.89 million from the state, according to Olson. He said the funding played a large role in the reason for the economic development activity. "This is a change, to have this partnership, this Job Creation Fund, (the) Minnesota Investment Fund," Olson said. "These are all tools and programs that we have been able to ... access, and businesses have benefitted from, and have made location decisions in part based on these programs." Statistics from the Minnesota Department of Employment and Economic Development show unemployment rates in Lakeville have decreased from 4.9 percent in December 2011 to 2.7 percent in December 2015. It also found business employment in Lakeville on the rise in the last decade. In 2005, Lakeville's businesses employed 13,219 workers and in 2015 the state reported there were 16,793 jobs in the city. "Just in the last year alone (there have been) about 800 new jobs," Olson said. Council Member Colleen LaBeau called 201.5 "obviously a busy and great year." Council Member Doug Anderson agreed, and noted that Lakeville's expanding job base and available land helps make it "a great place to live." Olson said there is continued interest from developers building in Lakeville this year, but questioned whether it would become a trend. He said staff is encouraging developers to consider building detached townhomes that are proving popular with seniors, and they have recently met with business representatives discussing potential commercial retail development along Cedar Avenue. "It's looking like we're seeing a fair amount of commercial and industrial activity for 201.6," he said. "But I can't promise you we'll have this many businesses to put up on a slide for next year." Filed Under: Allina Clinic, Applied Power Products, Candlewood Suites, commercial development, Goddard School, Lakeville, manufacturing, Mendell, office, retail, SuperAmerica, the Lakeville Medical Building, warehouse Advertising information I Contact Us I Subscribe Copyright ©2016 ECM Publishers, Inc. • All Rights Reserved Pagel of 2 SHARE THIS DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT SEE WHY MINNESOTA IS A CREAT PLACE TO LIVE, WORK AND DO BUSINESS CNBC Names Minnesota Top State For Business [Archives Posted on/une 25, 2015 at 10., 12AM Select from the list: View all v In its 2015 ranking of"America's Top States for Business;' Minnesota claimed the top spot - moving the state up from sixth place in 2014. The study ranks all 50 states on 60 measures of competitiveness separated into 10 categories Tags including: cost of doing business, workforce, economy, infrastructure and transportation, ang le tax education, cost of living, access to capital, innovation, business friendliness and quality of life. Cre Minnesota received the highest combined score of all categories. bioscience Here's quick breakdown of how Minnesota scored in each category. Don't forget to checkout business ex ap nsion the more detailed analyses, too. Central MN Workforce - 241 out 0400 points economy The primary factor in scoring for this category was the education level of each state's education workforce. Minnesota's workers are among the most educated in the nation, with over 92 having high diploma eXpT percent a school - ranking fourth in the U.S. - and over 33 percent having a bachelor's degree - ranking 11th in the U.S. lobs job search job training Technology and Innovation - 179 out 0250 points networking Minnesota's industry diversity helped us weather the recession better than most other states, Northwest MN but we also offer expertise in global solutions. With expert proficiency in health care, food and water solutions, the world is turning to Minnesota companies to solve issues threating small populations around the globe. 6=esse top state trade missioi Infrastructure & Transportation - 221 out 0350 points Twin Cities We know that we are only as strong as our ability to transport goods to market, and with one unemployment ofthe largest and busiest airports in the country - the Minneapolis -St. Paul International unemployment Airport - we are well positioned to export around the world. insurance veterans workforce http://mn.gov/deedlnewscenterlsocial-medialblogs/deed-developmentslblog-entry jsp?id=4... 2/11/2016 An educated workforce is key to a thriving business community. With over 200 public and private higher education institutions in Minnesota, the availability of educated workers is abundant. Additionally, Minnesota also has some of the best access to training and re - retraining opportunities for workers looking for careers that are in -demand. Cost of Doing Business - 152 out 0350points According to CNBC, "A solid economy is good for business:' Minnesota is experiencing substantial economic growth, adding nearly 200,000 jobs in the past four years and boasting one of the lowest unemployment rates in the country at 3.8 percent. Business Friendliness - 75 out of 160 points This scoring category measures states' regulatory framework, as well as perceived friendliness. While modest compared to other states, Minnesota offers financial support to businesses looking to expand or grow within its borders. Economy - 241 out 0340points As one of the most improved categories for the state, Minnesota jumped from 38th place in 2014 to 35th place in 2015. Since 2011, the private sector business survival rate grew from 44 percent to 55 percent- placing Minnesota in 5th place nationally. We are also home to 17 Fortune 500 companies, ranking second in the national per capita. Cost of Living - 29 out of75 points A competitive cost of living allows for workers to find viable housing, food and energy, and enables wages to go further. Minnesota placed 16th in 2014 with per capital personal income at $48,711 annually. Quality of Life - 268 out 0325points Quality of life is an important factor in a solid economic development strategy, which bodes well for Minnesota: a state that offers culture, the arts, natural beauty and bustling metropolitans. With low rates of poverty, a healthy citizen population, and competitive cost of living, Minnesota offers a place where people can prosper. Access to Capital - 28 out of50 points The CNBC study looked at venture capital investments by state, as well as small-business lending on a relative basis. just this past legislative session, leaders made it easier for start-up companies to raise capital in Minnesota through equity crowdfunding. view as list Page 2 of 2 http://mn.gov/deedlnewscenter/social-medialblogs/deed-developmentslblog-entry jsp?id=4... 2/11/2016 �1 O U m 4a O Y m L O el m E N L 3 H _C V i O Y. Y C N E Q _0 TU Y .700 0 U ro�T E 0 O ro 0 DUQ T v m n 0 a r Ln `0 r, v N c Ln 3 � O - OJ E U t O N 00 Q 0 o 6 U a u Y 0 0 7 Y O J a m 3 0 3 (C0 Y C N L > w c T 0 E 0 LL 0 N 0�000 000 �m Ln � m LM v r.00i O Ln � 00 cn Ln N n 00 M N LOO M N cn 14 N N N N u Q ti n M .1 m M M N N M V} N N m a Z00 O O 14 rl Ln O O N N l0 0 tO n N u1 n 01 N N lD .ti N N l0 N Q N N n O N N `y e1 a m 3 d' l0 M1 M M V N O c -I l0 00 a N c -I M O .may m N N C m V7 W M1 M N N lO O N G .y 14 V M c rn N n M a oo m o a N a ti v n rn rn m m -n M � .c N 00 m `� b V O M N O O LL M m ti v �n yr0 o n m N IDs 'v t 2 � v 0_ a N � �°' D_ O Nv>i O> C L E Q E 01 0J C d N @ Q Q' � 0m0 f6 I iYil �0 > i V1 7 y F U Q c0 W LL 2 C f0 (i C K N 0 N T v m n 0 a r Ln `0 r, v N c Ln 3 � O - OJ E U t O N 00 Q 0 o 6 U a u Y 0 0 7 Y O J a m 3 0 3 (C0 Y C N L > w c T 0 E 0 LL Government Eureka Township to review alternatives to airport annexation Published February 11, 2016 at 6:39 am By Laura Adelmann Board seeks input from residents Earlier indications that Eureka Township officials would not oppose annexation of the Airlake Airport were denied by the board at its Feb. 8 township meeting. Board members said they have not discussed annexation as a board and unanimously passed a resolution to review the situation involving the airport and formulate a response to the Metropolitan Airports Commission by May 1. That time frame allows township board members the opportunity to receive feedback from Eureka residents at the annual town meeting March 8 and consider options for the township to provide sewer and water to the airport instead of the remaining 452 -acre property being annexed into the city of Lakeville. The annexation issue was discussed during a Jan. 26 Lakeville City Council work session. Gary Schmidt, director of reliever airports with the Metropolitan Airports Commission, said he requested a negotiated annexation agreement of the airport into Lakeville so hangar owners can receive sewer and water services. Eureka Township Chairperson Brian Budenski said at that meeting many hangar owners want to wash their planes and install indoor restrooms. He did not discuss opposition to annexation at the workshop, but at the township meeting clarified when he indicated support for the proposal at the city's workshop, he was representing his own point of view, not that of the entire town board. Several Eureka residents spoke against the annexation at the town meeting, citing a range of concerns that included costs, effects of an expanded runway, increased flights and the potential of the entire township to be annexed into surrounding cities. Longtime Eureka resident and former Planning Commission member Charles "Butch" Hansen encouraged the township to allow commercial development of some of its northern edge properties. He said some property owners on that edge want to sell their property, and if the township zones it commercial, those who want to sell can and others can remain residential. Hansen said the nearby interceptor sewer line is already sized for hookups in Eureka Township, and the Met Council would allow it if development is allowed by Eureka. He said the township would only have to provide a big enough well head to handle the need for water. Hansen noted the discussion has been going on for 15 years, but the township "keeps sticking our head in the sand and avoiding it." "The fact of the matter is that this is going to happen whether Eureka gets on board or not," Hansen said. "So it's time for Eureka to get on board and do something with that northern corridor." Eureka will hold its election March 8 from 7 a.m.-8 p.m. and the annual meeting at 8:15 p.m. There is one open seat on the town board. Two candidates are running for the three-year term: Lu (Lucretia) Barfknecht and Allen Novacek. For more information, go to eurekatownship-mn.us. Filed Under: Airlake Airport, annexation, Eureka Township Advertising information I Contact Us I Subscribe Copyright 02016 ECM Publishers, Inc. • All Rights Reserved SOUTH METRO Lakeville in talks to annex all of Airlake Airport Move would let entire airport get water and sewer service. By Barry Lytton Star Tribune FEBRUARY 3. 2016 — 8:12PM Lakeville is in talks to annex all of Airlake Airport, a move that would bring city water and sewer services to the entire airfield and set it up for future growth. The small airport is currently split between Lakeville and neighboring Eureka Township. Most of Airlake's hangars, and its airstrip, are in the township; a few commercial hangars are in Lakeville. The airport, used mostly by recreational pilots, has more than 33,000 takeoffs and landings a year, according to the Metropolitan Airports Commission (MAC). while the Lakeville hangars are connected to sewer and water lines, those in Eureka Township are not, said Lakeville Community and Economic Development Director David Olson. The township does not have water and sewer service. After several attempts by the MAC to organize an annexation to Lakeville over the past 20 years, talks among the city, the township and the commission have begun in earnest this year, said Gary Schmidt, the MAC's director of reliever airports. If the land is annexed, hangar owners would still have to pay if they wished to connect to water and sewage lines, Olson said. Annexing Eureka Township land is not new to Lakeville, he said. The city annexed its current, small lot of Airlake about a decade ago for similar reasons. But annexation isn't an easy process, Schmidt said. The groups have to discuss who would garner tax revenue from the hangars and who would be responsible for road work and upkeep associated with the airport. Eureka Township officials could not be reached for comment. An annexation would help Lakeville and the MAC, Olson said, adding that the airport — which gives small commercial planes access to Lakeville and its Airlake Industrial Park — is a great "selling point" for the city. If the airport were fully within Lakeville, it could also better reach goals set out by the MAC, he said. The commission wants to lengthen Airlake's runway by 902 feet to conform to a common jet -owner insurance regulation of a 5,000 -foot runway, Schmidt said. The MAC also would like to build on land that could house about 50 more hangars, he said. Construction at Airlake doesn't mean there would be a change in the airport's mission, Schmidt said. Even after runway and hangar expansion, the MAC anticipates that the same small, mostly propeller -driven planes would be in Airlake's hangars. There is no deadline for the annexation talks, Olson said. Barry Lytton is a University of Minnesota student on assignment for the Star Tribune. _-- (http://stmedia.start6bune.com/images/1454542923-10108061+ JEFF THOMPSON. STAR TRIBUNE In 2006, Jeff Von Horn practiced takeoffs and landings during a flight lesson at Airlake Airport. Lakeville is in talks to annex all of...