01-27-14 EDA Joint With EDC - Laserfiche WebLink

Home Browse Search

ARDEN HILLS JOINT EDA MEETING — JANUARY 27, 2014 5 EDA Commissioner Holden discussed traffic concerns near HealthPartners. MOTION: EDA President Grant moved and EDA Commissioner Holmes seconded a motion to approve the 2014 EDC Work Plan. The motion carried unanimously (5-0). C. 2014 EDA Work Plan Secretary Klaers stated that at the January 28, 2013, Economic Development Authority (EDA) meeting, the EDA approved their 2013-14 work plan. The EDA held their four quarterly meetings and had two special. meetings in 2013 (one on the business subsidy policy and one on the revolving loan program). The only work plan item that did not get much attention last year was a review of TIF #3. Secretary Klaers requested that the EDA consider what they would like to see in the 2014-15 work plan. The work plan will be considered for approval at the April EDA meeting. Possible topics/issues for the EDA to consider for their 2014-15 work plan include the following: • Round Lake Road improvement project — This is really a City Council project but it is related to economic development as it impacts local businesses. Also, the EDA approved using TIF #2 funds to help finance this project (about $160,000). • Revolving Loan program - the EDC will be reviewing the loan program and the EDA's comments from their August 2013 special meeting and will offer the EDA some feedback on the program. The EDA should plan to update the Loan Guidelines in 2014. Any update needs to be reviewed by DEED. The Guidelines have not been updated since they were approved in 1997. • Carroll's — The EDA (City) will continue to monitor the redevelopment situation at Carroll's and hopefully can find a way to improve the access and driveway/entrance into the site for the benefit of all the businesses in this vicinity. • Budget — The 2015 EDA budgets will need to be reviewed and approved. Gateways Signs (money is transferred from the PIR fund) are included in the 2014 EDA budget. A sustainable revenue source needs to be identified for the EDA General Fund budget. • TIF #3 — This district expires in 2019. The EDA needs to develop a plan to use. the available funds for the benefit of qualified low to moderate income housing projects. • TIF #4 — This district for Pres Homes will be "up and running" in 2014. The EDA will want to be kept advised as to the revenues and expenditures in this district. • Business Retention and Expansion (BRE) program — The EDC plans to make a presentation to the EDA in 2014 on the "pros and cons" for the development of a program in Arden Hills. • B2 Improvement project — This may be a 2015 construction project. This is a City Council project but is also related to economic development as it will impact most of the businesses along County Road E. Secretary Klaers explained that this list is not meant to be all-inclusive. He requested comments from the Council for projects that could be added to the 2014-15 work plan.