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HomeMy WebLinkAbout08-22-17 CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES August 22, 2017 1. Acting Chair Matasosky called the meeting to order at 4:31 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. Collman, Emond, Longie, Matasosky, Seiler Ex-officio members: City Administrator Miller, Mayor Anderson, Tim Roche Members Absent: Comms. Gillen, Rajavuori, Scherer, Smith, Starfield, Vlasak Others Present: David Olson, Community & Economic Development Director and Kati Bachmayer, Economic Development Specialist 2. Approval of July 25, 2017 meeting minutes Comms. Longie/Seiler moved to approve the minutes of the July 25, 2017 meeting as presented. Motion carried unanimously. 3. Request from BTD Manufacturing for Extension of Job Creation Period Mr. Olson reviewed the BTD Manufacturing and Fulford Group’s Contract for Private Development (TIF Agreement) recommended by the EDC and approved by the City Council in February 2015. BTD President Paul Gintner and VP of Finance and Human Resources Doug Small were present to answer questions. Mr. Gintner told EDC members that BTD has created 53 jobs to date, but depressed conditions in their key markets limited growth opportunities during the past two years. Mr. Gintner went on to state that these markets are showing signs of recovery and the company’s growth outlook is improving. BTD is requesting a one-year extension to their job creation goal time-period. Minnesota Statute 116J.994 allows for grantors of business subsidies to extend the job creation period up to one year after a public hearing is held. Comms. Emond/Seiler moved to recommend the one-year extension of BTD’s job creation goal time-period. Comm. Matasosky abstained. Motion carried unanimously. This issue will now go before the City Council during a public hearing for approval. Comm. Matasosky excused himself from the meeting at 5:15 p.m. At this point the meeting lacked a quorum, so discussion-only was held on the following items. 4. Continued Discussion of the City’s Business Subsidy Policy Mr. Olson reviewed the discussion from the July meeting about the City’s Business Subsidy and Tax Increment Financing (TIF) policy. It was the consensus of the EDC to remove 2.c.v from the current Business Subsidy Policy 3.02. This provision refers to the use of subsidies for “Projects that result in the development of affordable senior Economic Development Commission Minutes August 22, 2017 Page | 2 or workforce housing.” Staff research regarding Lakeville’s current workforce and senior housing projects, along with worker commuter patterns were noted. Ex-officio Roche recommended retaining 2.c.v with updates to the language to reflect TIF use for attainable housing to meet future demand. Comm. Seiler noted that housing projects, if needed in the future, could fall under provision 2.c.vi. Recommendation to eliminate 2.c.v. was upheld. Additional potential changes to the policy related to wage rates were discussed. It was the consensus of EDC members present that significant additional changes to the City’s Business Subsidy and Tax Increment Financing (TIF) policy were not needed at this time and the importance of maintaining flexibility for future economic development projects was stressed. Members agreed that guidelines would be beneficial as City staff and Council are making decisions about future development projects. Minor changes to 2.c.i will be made to reflect heightened emphasis on projects with higher paying jobs, and new guidelines will be voted on during the September meeting. Ex-officio Roche excused himself from the meeting at 5:30 p.m. 5. Update on City’s Business Marketing Activities Ms. Bachmayer reviewed the City’s Business Marketing Activities and potential opportunities thus far in 2017. Promotion of the community for the purpose of spurring economic development will appear in the MN Department of Employment and Economic Development’s upcoming publication “Minnesota: Thriving in the North” magazine and “Business in Focus” magazine. Sponsorship of the Minnesota Real Estate Journal’s upcoming South Suburban Development Summit in September has also been secured, where Community and Economic Development Director Olson will participate as a featured panel speaker. In addition, “Business Xpansion Journal” magazine is being considered for economic development marketing. 6. Director’s Report / Development Update Mr. Olson reviewed the Director’s Report and highlighted a Minneapolis-St. Paul Business Journal article confirming Gander Mountain will retain a store in Lakeville called “Gander Outdoors.” Several EDC members attended the Urban Land Institute (ULI) workshop on Monday, th August 14. Information presented during the ULI workshop was discussed and all agreed the meeting was beneficial to learn how Lakeville compares to Minnesota and what demographic/building/workforce trends are happening now and on the horizon. Adjourn Meeting adjourned at 6:00 p.m. Respectively submitted by: Kati Bachmayer, Economic Development Specialist