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HomeMy WebLinkAbout03-23-10City of Lakeville Economic Development Commission Meeting Minutes March 23, 2010 Marion Conference Room, City Hall Members Present: Comms. Tushie, Vlasak, Schubert, Emond, Brantly, Starfield, Erickson, Ex- officio member Mayor Holly Dahl, Ex- officio member Chamber of Commerce Executive Director Todd Bornhauser. Members Absent: Comms. Matasosky, Smith. Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist. 1. Call Meeting to Order Vice Chair Tushie called the meeting to order at 4:30 p.m. in the Marion Conference Room of City Hall, 20195 Holyoke Avenue, Lakeville, Minnesota. 2. Approve February 23, 2010 Meeting Minutes Motion 10.04 Comms. Erickson / Emond moved to approve the minutes of the February 23, 2010 meeting as presented. Motion carried unanimously. 3. Continued Discussion on Business Assistance Policy Dave Olson referenced the EDC memo and reviewed the EDC's work on this topic over the past several months. Mr. Olson noted that staff has been in conversation with several surrounding communities about this issue and discussed several strategies for addressing business assistance policies. Ex- officio member Bornhauser asked if the City should hire somebody to do a study on areas of the City that may be candidates for potential business assistance. Mr. Olson responded that there may be some grant money out there for this type of planning study. Vice Chair Tushie noted that some conceptual work has already been completed in specific areas of the community by land owners. He added that one option would be to have the City do road extensions to promote development in strategic areas such as Eagan did. Economic Development Commission Meeting Minutes March 23, 2010 Mr. Olson continued by discussing an international business prospect that visited Lakeville but ended up locating in Wisconsin. The business received a substantial assistance package that Lakeville wouldn't have even been close to competing with. Comm. Starfield asked if the prospect also considered other cities near Lakeville. Mr. Olson responded that that is unknown because it was a confidential search. Vice Chair Tushie asked if there was money available to do a business assistance policy study. This seems to be an important issue for the EDC. Mr. Olson responded that Community Development Block Grant (CDBG) dollars may be an option. Steve Mielke stated that based on the past discussions the EDC has had on this issue here is how he sees this issue taking form: - A local "but for" test is needed - There must be a demonstrated Return on Investment (ROI) - Focus would be on: • To remove blight and encourage redevelopment • To accomplish City goals e.g.: ■ Transportation infrastructure ■ Utility infrastructure ■ Specific businesses or industries • To encourage job growth /retention ■ Focus on higher -end jobs - Establish and identify tools in a "toolbox" o TIF o Land cost reduction o Property tax rebates o Fee reductions o Development process advantages o Assessment options o State & Federal tools Mr. Mielke added that identifying tools is easy but the decision on when to use them is difficult. Mr. Olson stated that staff would compile a document outlining these ideas and bring it to the EDC at their next meeting. Vice Chair Tushie noted that in order for the EDC to package this for the City Council the EDC would need to first review the Council's long -term goals. Mr. Mielke agreed that Council goals would have to be established so that there would be a consensus on when to use these tools if they meet the goals. 2 Economic Development Commission Meeting Minutes March 23, 2010 Mr. Mielke added that this should start with the EDC and could warrant a joint EDC /City Council meeting to discuss long -term goals. Mr. Olson noted that this is a part of the Strategic Plan for Economic Development the EDC works on every three years. They are scheduled to begin work on the 2011 -2013 Plan this summer. Motion 10.05 Comms. Emond /Brantly moved to direct staff to prepare a policy document outlining these business assistance policy ideas for discussion at the next EDC meeting. Motion carried unanimously. Comm. Starfield clarified that he would like to discuss some of the economic development tools that are available at the next meeting. A description of the tools and the risk associated with each would be helpful for the discussion. Mr. Mielke added that while the State tools are already established, the EDC should discuss what we can do locally. Vice Chair Tushie mentioned housing revenue bonds are one example of a local tool. Mr. Olson concluded the discussion by stating that staff will prepare a list of business assistance tools along with the pros and cons of each for discussion at the next EDC meeting. 4. Review and Discussion of 2008 -2010 Strategic Plan for Economic Development Work Program for 2010. Mr. Olson reviewed the EDC memo and highlighted each section of the work plan including: - Transportation - Life -cycle housing - Technology - Growth management - Communication - Partnerships Comm. Erickson asked how the new transit facilities were doing. Mr. Olson responded that the 1 -35 station meeting and exceeding expectations and that an extra route has been added to accommodate demand. The Cedar avenue station currently has five buses that go to Downtown Minneapolis but isn't as desirable as the 1 -35 station because it has a stop at the Apple Valley Transit Station. 3 Economic Development Commission Meeting Minutes March 23, 2010 5. Director's Report Mr. Olson reviewed the Director's Report. 6. Adjourn Vice Chair Tushie adjourned the meeting at 5:30 p.m. Respectfully submitted by: Adam Kien rger, Economic Development Specialist Attested to: R. T. Brantly, Secretary 2