Loading...
HomeMy WebLinkAboutOctober 1, 2013C T Y O F 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV ECONOMIC DEVELOPMENT AUTHORITY MEETING October 1, 2013 6:00 p.m. Conference Rooms A & B 1. Call to Order— 6:00 p.m. 2. Approval of Minutes (September 3, 2013 Regular) 3. Approve Resolution Adopting a Modification to the Development Program for Development District No. 1, establishing Tax Increment Financing District No. 1 -6 therein and Adopting a Tax Increment Financing Plan thereof. 4. Approve Purchase Agreement — Measurement Specialties, Inc. 5. Approve Resolution Authorizing the Execution of a Development Agreement — Measurement Specialties, Inc. 6. Cherrywood Advanced Living Update 7. Andover Station North Update 8. Redevelopment Discussion 9. Other Business 10. Adjournment LAW] ANDOVER ECONOMIC DEVELOPMENT A UTHORITY MEETING OCTOBER 1, 2013 - MINUTES A meeting of the Andover Economic Development Authority was called to order by President Mike Gamache, October 1, 2013, 6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard NW, Andover, Minnesota. Present: Commissioners Tony Howard, Mike Knight, Julie Trude, Robert Nowak and Joyce Twistol Absent: Commissioner Sheri Bukkila Also present: Community Development Director, David Carlberg Executive Director, Jim Dickinson APPROVAL OF MINUTES September 3, 2013, Regular Meeting: Correct as presented. Motion by Knight, Seconded by Howard, approval of the Minutes as presented. Motion carried unanimously. APPROVE RESOL UTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1, ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -6 THEREINAND ADOPTING A TAX INCREMENT FINANCING PLAN THEREOF Mr. Carlberg stated at past EDA meetings there was discussion about creating a Tax Increment Financing District for Measurement Specialties Inc. The City will be selling 1711 -139th Avenue, an approximately 8 acre parcel to Measurement Specialties. Ehlers & Associates and Briggs & Morgan prepared the documents necessary for the creation of TIF District 1 -6. Mr. Carlberg indicated TIF District 1 -6 would be a 9 year economic development district and by creating District 1 -6 this allows the City to write down the cost of the land. All tax dollars generated during the 9 years is paid to the City for the business incentives provided to Measurement Specialties Inc. Commissioner Nowak asked how the City recovers the cost of the land. Mr. Carlberg explained © how the new TIF District will provide payback. Mr. Dickinson stated right now the parcel is not generating any tax dollars, with the land sale and construction of the building the City will be generating property tax dollars. Mr. Carlberg explained in the Developers Agreement, Measurement Specialties Inc. is required to build a 25,000 s.f. building and bring close to 100 jobs into the City. They have to provide © Andover Economic Development Authority Meeting Minutes — October 1, 2013 Page 2 some new jobs within two years of the opening of the facility. There are also provisions provided in the Developers Agreement if Measurement Specialties Inc. does not perform. Commissioner Trade asked if a minimum tax value for the building is required during the 9 year TIF District. Setting a minimum value protects the City for payback. Mr. Dickinson answered; through the minimum assessment agreement the County Assessor will be able to set a minimum value according to the agreement. That value could go higher but not lower than the set minimum. Motion by Trade, Seconded by Howard, approving resolution R006 -13. Motion carried unanimously. APPROVE PURCHASE AGREEMENT — MEASUREMENT SPECIALTIES, INC. Mr. Carlberg stated the EDA is requested to approve the Purchase Agreement with Measurement Specialties. No closing date has been scheduled. Measurement Specialties are still interested in starting construction yet this year. © Motion by Knight, Seconded by Twistol, approving the Purchase Agreement and authorizing the Executive Director to complete and sign all documents. The joint parking lot was discussed. The parking lot will provide parking for Measurement Specialties and the Andover Station North Ballfield Complex. Motion carried unanimously. APPROVE RESOLUTIONAUTHORIZING THE EXECUTION OF DEVELOPMENT AGREEMENT — MEASUREMENT SPECLALTIES, INC. Mr. Carlberg indicated Briggs & Morgan drafted the Developers Agreement. The agreement sets the terms of what Measurement Specialties will provide. The agreement does indicate if Measurement Specialties does not perform the City can ask for payback of the incentives provided. Motion by Trade, Seconded by Howard, approving resolution R007 -13 and contingent upon review and approval by the City Attorney. Motion carried unanimously. CHERRYWOOD ADVANCED LIVING UPDATE © Mr. Carlberg indicated the closing date has been moved from September 24, 2013 to October 4, 2013. Staff is reviewing the Commercial Site Plan. Cherrywood Advanced Living plans to start construction this fall. Motion by Trade, Seconded by Knight approving as part of the land sale to Cherrywood Advanced Living LLC, approving resolution R008 -13, authorizing the Executive Director to sign Andover Economic Development Authority Meeting Minutes — October 1, 2013 Page 3 all documents on behalf of the EDA. Motion carried unanimously. ANDOVER STATION NORTH UPDATE Mr. Carlberg updated on the following: Dynamic Sealing Technologies, Inc. — DSTI has reviewed the purchase agreement and has made a counter offer on the land price and would like to close on the property the end of 2014. Staff will continue to negotiate the land price and seek an earlier closing date with DSTI. Pizza Ranch — Construction is moving along, the walls and trusses are up. Interviews and hiring of staff will take place in November. Pizza Ranch plans to open by the end of 2013. Wal -Mart - The landscaping inspection was completed last week. Wal -Mart is planning for a November 13, 2013 opening date. Wal -Mart staff will be meeting with the Anoka County Sheriffs Office and the Andover City Attorney regarding loss control. REDEVELOPMENT DISCUSSION Mr. Carlberg explained the Minnesota Pollution Control Agency (MPCA) required the City to register the 1993 leak at the Stop -N -Shop as a "new" leak when the underground storage tanks were removed. Staff informed the MPCA the current plan is to leave the site as is until a buyer is found for the property. OTHER BUSINESS Mr. Carlberg stated he contacted Anoka County regarding landscaping around the monument signs on Round Lake Boulevard and Crosstown/Bunker. The license agreements do permit for low level landscaping around the signs. The EDA agreed not to landscape around the Round Lake Boulevard sign. The sign on the Ham Lake border is on City property, needs the most landscaping. Commissioner Twistol will work with staff on landscaping plans. Mr. Carlberg indicated staff is still waiting for a dock/pier quote from MINNCOR Industries for the pond by Target. The quote will be for construction only; installation would be a separate cost. ADJOURNMENT Motion by Trude, Seconded by Twistol to adjourn. Motion carried unanimously. The meeting © adjourned at 6:58 p.m. Respectfully submitted, Michelle Hartner, Recording Secretary