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04-25-16-R
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ARDEN HILLS CITY COUNCIL – APRIL 11, 2016 3 <br /> <br />MOTION: Councilmember Holden moved and Councilmember Holmes seconded a <br />motion to approve the Consent Calendar as amended and to authorize <br />execution of all necessary documents contained therein. The motion carried <br />unanimously (5-0). <br /> <br />6. PULLED CONSENT ITEMS <br /> <br />None. <br /> <br />7. PUBLIC HEARINGS <br /> <br />A. TCAAP Development Discussion Opportunity for Residents <br /> <br />Mayor Grant stated that under the Public Hearing section, citizens have an opportunity to discuss <br />ideas regarding the TCAAP development. <br /> <br />Mayor Grant opened the public hearing at 7:12 p.m. <br /> <br />With no one coming forward to speak, Mayor Grant closed the public hearing at 7:13 p.m. <br /> <br />B. Public Hearing for an Agreement to Abate Property Taxes and to Award a <br />Minnesota Investment Fund Loan to Land O’Lakes, Inc. <br /> <br />Mayor Grant opened the public hearing at 7:14 p.m. <br /> <br />Community Development Director Hutmacher reported that Land O’Lakes is planning a <br />significant expansion of its headquarter facilities in Arden Hills through which it proposes to <br />increase its headquarters building by at least 145,000 square feet and create an additional 200 jobs <br />with wages of at least $18.00 per hour within two years of the project’s completion. The Company <br />estimates that it will spend approximately $80 million for new construction, site costs, renovation <br />of the existing company headquarters, and soft costs in the next three years. Land O’Lakes’ <br />expansion plans are contingent on the approval of a package of public financial assistance. If <br />approved, construction is expected to be complete by December 31, 2018. <br /> <br />Community Development Director Hutmacher stated that on February 29, 2016, the City <br />Council approved a resolution of support for Land O’Lakes’ application to the Minnesota Job <br />Creation Fund. The City has been notified that the Minnesota Department of Employment and <br />Economic Development (DEED) will provide an award of up to $1.9 million consisting of up to <br />$900,000 in a job creation award and $1,000,000 in a capital investment rebate. <br /> <br />Community Development Director Hutmacher explained that Land O’Lakes has requested the <br />abatement of the City, County, and Mounds View School District portions of its property taxes, <br />on the value of the new building expansion only, over a period of fifteen years. The maximum <br />City tax abatement is $650,000. The County and School District will consider the abatement <br />request for those jurisdictions at separate meetings on April 12, 2016. <br />
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