HomeMy WebLinkAbout06-25-01 �: •�:. FILE,AR ,
1
EN HILLS
AGENDA
REGULAR MEETING OF THE
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
CITY HALL COUNCIL CHAMBERS
MONDAY,JUNE 25,2001,6:00 P.M.
6:00 P.M. 1. Call to Order
6:00 P.M. 2. Approval of Meeting Agenda
6:00 P.M. 3. Approval of Minutes
a. December 4, 2000 Special EDA Meeting
6:05 P.M. 4. Unfinished and New Business
a. Business Subsidy Criteria
1. Discussion
2. Schedule Public Hearing
b. Schedule Meeting to Discuss 2002 EDA Budget Ramifications
from 2001 Legislative Session
6:20 P.M. 5. Adjourn
The above times may vary depending upon length of issue discussion.
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City of Arden Hills • 4364 West Round Lake Road • Arden Hills,MN • 55112-5794
Phone(651)633-5676 • Fax: (651)633-7839 • www.ci.arden-hills.mn.us
MINUTES
t CITY OF ARDEN HILLS,MINNESOTA T
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
DECEMBER 4,2000
5:00 P.M. -ARDEN HILLS CITY COUNCIL CHAMBERS
CALL TO ORDER/ROLL CALL
Pursuant to due call and notice thereof, President Dennis Probst called to order the
Economic Development Authority (EDA) meeting at 5:05 p.m.
Present: President Dennis Probst, Commissioners Beverly Aplikowski, David
Grant, and Gregg Larson.
Absent: Commissioner Lois Rem.
Also present were Executive Director, Joe Lynch; Secretary/Treasurer, Terrance R. Post;
and City Associate Planner,Jennifer Chaput.
ADOPT AGENDA
MOTION: Commissioner Larson moved and Commissioner Aplikowski seconded a motion
to adopt the agenda for the December 4, 2000 meeting of the Economic
Development Authority. The motion carried unanimously (4-0).
APPROVAL OF MINUTES
A. December 13, 1999 Regular Meeting
MOTION: Commissioner Aplikowski moved and Commissioner Grant seconded a motion to
approve the minutes of the December 13, 1999 Regular Meeting of the Economic
Development Authority, as submitted. The motion carried unanimously (4-0).
UNFINISHED AND NEW BUSINESS
A. Resolution #EDA00-01,Approval of the 2001 EDA Budget
The Secretary/Treasurer had prepared an annual budget for discussion and approval by
the Economic Development Authority Commissioners.
Mr. Post referred the Commissioners to his underlying November 30, 2000 memorandum
on this subject.
MOTION: Commissioner Larson moved and Commissioner Aplikowski seconded a
motion for the EDA to adopt Resolution#EDA00-01, adopting the 2001
Budget. The motion carried unanimously (4-0).
ARDEN HILLS EDA MEETING—DECEMBER 4, 2000 E)"RAFT Z
ADJOURN
MOTION: Commissioner Grant moved and Commissioner Aplikowski seconded a motion to
adjourn the meeting at 5:11 p.m. The motion carried unanimously (4-0).
Dennis Probst Joseph P. Lynch
President Executive Director
-ARZEN HILLS
MEMORANDUM
DATE: June 20, 2001
TO: EDA Commissioners
FROM: Joseph Lynch, EDA Executive Director
Terrance Post, EDA Secretary/Treasurer P
SUBJECT: EDA June 25, 2001, General Discussion Meeting
City of Arden Hills Economic Development Authority(EDA) staff has invited a representative
of the City's independent financial advisor, Ehlers &Associates, Inc., to address the
Commission on two matters.
Business Subsidy Criteria
The City of Arden Hills currently has two active Development Agreements in place. One is for
the Cottage Villas low to moderate income senior apartment housing(TIF District No. 3). The
other is for the Welsh Office/Warehouse buildout(TIF District No. 2). Both of these agreements
were entered into prior to the adoption of the 1999 legislative business subsidy regulations.
Ehlers has provided three sets of information to assist the Commission in discussion of this
subject. Exhibit A provides an overview of statutory business subsidy criteria. Exhibit B ("City
of Anywhere"),provides a rather simple set of criteria. Exhibit C ("City of?"),provides a more
detailed set of criteria.
With preliminary overview discussions having taken place with two potential developers
(Chesapeake and Mills), staff cannot proceed forward with these, or any other developers, until
the EDA has adopted a set of business subsidy criteria.
2001 Legislative Session
Although the session has not been concluded as of the date of this writing, some of the business
property tax changes being contemplated may have a significant impact on City of Arden Hills
finances. Of particular concern is the continued ability to service G.O. Bond debt in the future
exclusively from tax increment. Ehlers has been counseling their municipal clients on how to
assess the impact of the various property tax scenarios presently before the legislature.
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In 1999,the State Legislature adopted new regulations for the granting of business
subsidies by state and local government. These requirements replace the current
egwr
wage aiW job goal reporting. The Business Subsidies Statutes are codified as
. Minnesota Statutes, Section 1161.993 through 116J.995. This summary highlights
the statutory requirements for business subsidies as amended by the Legislature in the
2000 session.
• The regulation of business subsidies adds new complexities to the development process. Make sure that you
understand the statutory requirements before providing direct or indirect assistance to any for-profit or
non-profit entity. If in doubt, ask questions. Many of these provisions are subject to interpretation
Who is subject to the Business Subsidy Statutes?
Any state or local government agency or public entity may be a "Grantor" under the Statutes. Potential
Grantors include cities,counties,school districts,townships,economic development authorities,housing and
redevelopment authorities, port authorities, and municipal utilities. Multiple grantors may exist within a
single jurisdiction. Each Grantor must comply with the Statutes.
What is a business subsidy?
The Statutes set forth a definition and the specific exclusions for business subsidies. Both must be considered
in determining if a specific action is a business subsidy and subject to the Statutes.
A business subsidy is defined as"grant, contribution of personal property,real property,infrastructure,the
principal amount of a loan at rates below those commercially available to the recipient, any reduction or
. deferral of any tax or any fee,any guarantee of any payment undo[any loan,lease,or other obligation,or any
preferential use of government facilities given to a business". This definition covers many different forms of
economic assistance.
The Statutes specifically excludes twenty-two items from the definition. The following are not business
subsidies:
(a) a business subsidy of less than$25,000;
(b) assistance that is generally available to all businesses or to a general class of similar businesses,
such as a line of business, size, location, or similar general criteria;
(c) public improvements to buildings or lands owned by the state or local government that serve a
public purpose and do not principally benefit a single business or defined group of businesses at
the time the improvements are made;
(d) redevelopment property polluted by contaminants as defined in section 1161.552, subdivision 3;
(e) assistance provided for the sole purpose of renovating old or decaying building stock or bringing
it up to code and assistance provided for designamd historic preservation districts, provided that
the assistance is equal to or less than 50%of the total cost;
(f) assistance to provide job readiness and training services if the sole purpose of the assistance is to
provide those services;
(g) assistance for housing;
(h) assistance for pollution control or abatement, including assistance for a tax increment financing
hazardous substance subdistrict as defined under 469.174, subdivision 23;
(i) assistance for energy con=vation;
0) tax reductions resulting from conformity with federal tax law;
(k) workers' compensation and unemployment compensation;
(1) benefits derived from regulation;
EHLEAS&ASSOCIATES, INC. 3060 Centre Pointe Drive, Roseville, Minnesota 55113 651.697.8500
JUN. 6. 2001 3:40PM EHLERS & ASSOCIATES N0. 4497 P. 3
(m) indirect benefits derived from assistance to educational institutions; J
(n) funds from bonds allocated under chapter 474A,bonds issued to refund outstanding bonds,and bonds issued for
the benefit of an organization described in section 501 (c)(3)of the Internal Revenue Code of 1986,as amen
through December 31, 1999;
(o) assistance for a collaboration between a Minnesota higher education institution and a business;
(p) assistance for a tax increment financing soils condition district as defined under section 469.174,subdivision l 9;
(q) redevelopment when the recipient's investment in the purchase of the site and in site preparation is 70 percent or
more of the assessor's current year's estimated market value;
(r) general changes in tax increment financing law and other general tax law changes of a principally technical nature;
(s) federal assistance until the assistance has been repaid to,and reinvested by,the state or local government agency;
(t) funds from dock and wharf bonds issued by a seaway port authority;
(u) business loans and loan guarantees of$75,000 or less;and
(v) federal loan funds provided through the United States Department of Commerce, Economic Development
Administration.
What are business subsidy criteria?
Each Grantor must adopt criteria before granting a business subsidy. The statutory requirements for business subsidy criteria
include.
❑ The criteria must be adopted following a public hearing-
❑ The criteria may not be adopted on a case by case basis.
❑ The criteria must set specific minimum requirements that recipients must meet in order to be eligible to receive business
subsidies.
❑ The criteria must include a policy regarding specific wage floor for the wages to be paid for the jobs created. The wage
floor may be stated as a specific dollar amount or may be stated as a formula that will generate a specific dollar amount.
o A grantor may deviate from its criteria by documenting in writing the reason for the deviation and attaching a co
the document to its next annual report to the Department of Trade and Economic Development.
CI A copy of the criteria must be submitted to the Department of Trade and Economic Development.
The minimum requirements and wage floor provisions were added in 2000. Grantors that adopted criteria before May 1,2000
have until May 1,2003 to bring their criteria into compliance with the Statutes_
What are the steps for approving a business subsidy?
❑ Determine that the proposed assistance is a business subsidy. A careful analysis of the assistance may find that all
or part of the assistance qualifies under the specific exclusions.
o Comply with the criteria. Each proposed subsidy should be connected back to the adopted business subsidy criteria.
❑ Enter into a subsidy agreement. The Statutes require an agreement for every business subsidy. The subsidy agreement.
may be a stand alone document or made part of a overall development agreement for a project. The subsidy agreement
must address:
• a description of the subsidy, including the amount and type of subsidy, and type of district if the subsidy is
tax increment financing;
• a statement of the public purposes for the subsidy;
• measurable, specific and tangible goals for the subsidy;
• a description of the financial obligation of the recipient if the goals are not met;
• a statement of why the subsidy is needed;
• a commitment to continue operations at the site in the jurisdiction where the subsidy is used for at least
years after the benefit date;
• the name and address of the parent corporation of the recipient, if any; and
• a list of all financial assistance by all grantors for the project.
The Statutes set forth specific requirements for the failure to meet the goals set forth in the subsidy agreement.
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0 Hold a public bearing. If the amount of the business subsidy exceeds S 100,000,the Grantor must hold a public hearing.
The Statutes contains specific requirements for publishing the notice of hearing. If the recipient of a business subsidy
will receive assistance from more than one local grantor,then a single grantor may hold the public hearing.
Are there ongoing responsibilities?
The Statutes establishes a set of subsidy reporting procedures. The recipient of the assistance is required to provide
information to the grantor for two years after the benefits date or until the goals are met, whichever is later. The Statute
requires reporting for certain types of assistance that are otherwise excluded from the definition of business subsidy. The
information shall be reported on forms developed by DTED. The Statutes create penalties for failure to provide the
appropriate reports.
The Statutes create additional reporting requirements for the Grantor. All local government agencies of a local government
with a population of more than 2,500,regardless of whether or not they have awarded any business subsidies,must file a
report by April 1 of each year with the Commissioner of Trade and Economic Development. Local government agencies of
a local government with a population of 2,500 or less are exempt from filing this report if they have not awarded a business
subsidy in the past five years.
JUN. 6. 2001 3:41PM EHLERS & ASSOCIATES NO. 4497—P. 5
City of Anywhere
Business Subsidy Criteria
June 20, 2000
1 PURPOSE AND AUTHORITY
1.1 The purpose of this document is to establish the criteria for the City of Anywhere(the
"Grantor")for granting of business subsidies for private development. These criteria shall
be used as a guide in the processing and reviewing applications requesting business
subsidies.
1.2 The City's ability to grant business subsidies is governed by the limitations established in
Minnesota Statutes 1161993 through 116J.994 (the"Statutes").
13 Unless specifically excluded by the Statutes, business subsidies include grants by state or
local government agencies, contributions of personal property,real property,
infrastructure, the principal amount of a loan at rates below those commercially available
to the recipient of the subsidy, any reduction or deferral of any tax or any fee,any
guarantee of any payment under any loan, lease, or other obligation, or any preferential
use of government facilities given to a business.
1.4 These criteria are to be used in conjunction with other relevant policies of the Grantor.
1.5 The City may deviate from these criteria by documenting in writing the reason(s)for the
deviation. The documentation shall be submitted to the Department of Trade and
Economic Development with the next annual report.
1.6 The Grantor may amend this document at any time, Amendments to these criteria are
subject to public hearing requirements contained in the Statutes-
2 PUBLIC PURPOSE REQUIREMENT
2.1 All business subsidies must meet a public purpose.
2.2 The creation or retention of jobs may be, but is not required to be, a public purpose for
granting a subsidy. The determination that jobs are not a public purpose for the subsidy
and that the related wage and job goals are zero shall be made following a public hearing.
2.3 Job retention may only be used as a public purpose in cases where job loss is specific and
demonstrable. The City shall document the information used to determine the nature of
the job loss.
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2.4 The creation of tax base shall not be the sole public purpose of a subsidy.
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2.5 The wage floor for wages to be paid for the jobs created shall be the State minimum wage
in effect at the time the subsidyis
wages as appropriate for the o eralllpublic purrpos of the subsidy.an ed. he City will seek to create jobs with higher
3 BUSINESS SUBSIDY APPROVAL CRITERIA
3.1 All new projects approved by City of Anywhere should meet the following minimum
approval criteria. However, it should not be presumed that a project meeting these
criteria will automatically be approved. Meeting these criteria creates no contractual
rights on the part of any potential developer.
3.2 To be eligible to receive a business subsidy, the recipient must meet the following
minimum requirements:
a• The subsidy must achieve a public purpose.
b. The project must comply with Iocal plans and ordinances.
C. The recipient shall provide information demonstrating that granting the subsidy is
necessary for the proposed development to occur.
d. The recipient enters into an agreement pursuant to these criteria and the Statutes.
3.3 The business subsidy shall be provided within applicable state legislative restrictions,
debt limit guidelines, and other appropriate financial requirements and
policies.
3.4 The project must be in accord with the Comprehensive Plan and Zoning Ordinances, or
required changes to the plan and Ordinances must be under active consideration by the
City at the time of approval.
3.5 Business subsidies will not be provided to projects that have the financial feasibility to
proceed without the benefit of the subsidy. In effect, business subsidies will not be
provided solely to broaden a developer's profit margins on a project. Prior to
consideration of a business subsidy request, the Grantor may undertake an independent
underwriting of the project to help ensure that the request for assistance is valid.
3.6 Prior to approval of a business subsidy, the developer shall provide any required market
and financial feasibility studies, appraisals, soil boring, information provided to private
lenders for the project, and other information or data that the Grantor or its financial
consultants may require in order to proceed with an independent underwriting.
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3.7 Any developer requesting a business subsidy should able to demonstrate past successful
general development capability as well as specific capability in the type and size of
development proposed.
3.9 The developer must retain ownership of the project at least long enough to complete it,to
stabilize its occupancy, to establish the project management, and to initiate repayment of
the business subsidy, if applicable.
3.9 A recipient of a business subsidy must enter into a subsidy agreement with the Grantor as
described in Section 4.
3.10 A recipient of a business subsidy must make a commitment to continue operations within
the City for at least five years after the benefit date.
3.11 Any business subsidy will be the lowest possible level and least amount of time
necessary, after the recipient maximizes the use of private debt and equity financing first.
4 Subsidy Agreement
4.1 In granting a business subsidy,the Grantor shall enter into a subsidy agreement with the
recipient that provides the information,wage and job goals, commitments to provide
necessary reporting data and recourse for fail to meet goals required by the Statutes.
4.2 The subsidy agreement may be incorporated into a broader development agreement for a
project.
4.3 The subsidy agreement will describe the requirements for the recipient to provide the
reporting information required by the Statutes.
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JUN. 6. 2001 3' :42 PM EHLERS & ASSOCIATES NO- 4497-P- 6
CITY OF
Business Subsidy Criteria
1. PURPOSE
1.01 The purpose of this criteria is to establish the City's position as relates to the use of business
subsidies,as defined in Minnesota Statutes 1161.993,Subdivision 3,for private development.This
criteria shall be used as a guide in processing and reviewing applications requesting business
subsidies.
1.02 The City shall have the option of amending or waiving sections of this criteria when determined
necessary or appropriate. Amendments to these 6iteria are subject to public hearing requirements
pursuant to Minnesota Statutes, Sections 116J,993 through, l I6I.995.
2. STATUTORY LIMITATIONS
2.01 In accordance with the Business Subsidy Criteria, Business Subsidy requests must comply with
applicable State Statutes.The City's ability to grant business subsidies is governed by the limitations
established in Minnesota Statutes 116J.993 through 1161.995.
3. PUBLIC POLICY REQUIREMENT
3.01 All business subsidies must meet a public purpose other than increasing the tax base. Job retention
may only be used as a public purpose in cases where job loss is imminent and demonstrable
4. BUSINESS SUBSIDY APPROVAL CRITERIA
4 .01 All new projects approved by the City should meet the following mandatory minimum approval
criteria. However,it should not be presumed that a project meeting these criteria will automatically
be approved. Meeting these criteria creates no contractual rights on the part of any potential
developer.
4.02 The business subsidy shall be provided within applicable state legislative restrictions, debt limit
guidelines,and other appropriate financial requirements and policies.
4.03 The project must be in accord with the Comprehensive Plan and Zoning Ordinances, or required
changes to the plan and Ordinances must be under active consideration by the City at;the time of
approval.
4.04 Business subsidies will not be provided to projects that have the financial feasibility to proceed
without the benefit of the subsidy. In effect, business subsidies will not be provided solely to
broaden a developer's profit margins on a project. Prior to consideration of a business subsidy
request,the City may undertake an independent underwriting of the project to help ensure that the
request for assistance is valid.
4.05 Prior to approval of a business subsidies financing plan,the developer shall provide any required
market and financial feasibility studies, appraisals, soil boring, information provided to private
lenders for the project, and other information or data that the City or its financial consultants may
require in order to proceed with an independent underwriting.
JUN. 6. 2001 3:4 2 P M EHLERS & ASSOCIATES NO. 4497 P. 9
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4.06 Any developer requesting a business subsidy should able to demonstrate past successful general
development capability as well as specific capability in the type and size of development proposed.
4.07 The developer must retain ownership of the project at least long enough to complete it,to stabilize
its occupancy, to establish the project management, and to initiate repayment of the business
subsidy.
4.08. A recipient of a business subsidy must make a commitment to continue operations at the site where
the subsidy is used for at least five years after the benefit date.
4.09 The level of TTF funding should be reduced to the lowest possible level and least amount of time by
maximizing the use of private debt and equity financing first,and then using other funding sources
or income producing vehicles that can be structured into the project financing, prior to using
additional TIF funding.
5. TAX INCREMENT PROJECT EVALUATION CRITERIA
5.01 All business subsidy requests will be evaluated on the following criteria for comparison with other
proposed business subsidy requests reviewed by the City, and for comparison with other subsidy
standards(where appropriate).It is realized that changes in local markets,costs of construction,and
interest rates may cause changes in the amounts of Tax Increment subsidies that a given project may
require at any given time.
5.02 Some criteria, by their very nature, must remain subjective. However, wherever possible
"benchmark" criteria have been established for review purposes. The fact that a given proposal
meets one or more"benchmark"criteria does not mean that it is entitled to funding under this policy,
but rather that the City is in a position to proceed with evaluations of(and comparisons between)
various business subsidy requests, using uniform standards whenever possible.
5.03 Following are the evaluation criteria that will be used by the City
A. All business subsidy requests should optimize the private development potential of a site.
B. All business subsidy requests should obtain the highest possible private to public financial
investment ratio.The Council establishes a benchmark ratio of 3 parts private to 1 part public
funding for projects. Housing and retail/commercial projects shall be reviewed on an
individual basis.
C. All business subsidy requests should create the highest feasible number of jobs on the site.
The Council establishes a benchmark of one newly created FTE job per $6,000 of public
assistance or one retained FTE job per$3,000 of public assistance provided to projects and
establishes a benchmark of one newly created FTE job per$10,000 of public assistance or one
retained FTE job per$3,000 of public assistance provided to the Industrial Park Project Area.
All jobs will be"Living wage jobs"as determined by the Department of Labor.
D. All business subsidy requests should create the highest possible ratio of property taxes paid
before and after redevelopment.Given the different assessment circumstances in the City,this
ratio will vary widely.However,under normal circumstances,the Council will expect at least
a 1:2 ratio of taxes paid before and after redevelopment.
JUN. 6. 2001 �: 42PM EHLERS& ASSOCIATES NO. 4491 � . 10
E. Business subsidy requests should normally not be used to support speculative industrial,
commercial,and office projects.In general,speculative projects are defined as those projects
which have letters of intent or pre-leasing for less than 50%of the available leasable space.
F. All business subsidy requests will be reviewed to determine the feasibility to provide the City
with equity participation in new developments(through a share of the profits),or to treat the
business subsidy as a second mortgage with fixed payments.
G. All business subsidy requests involving displacement of low and moderate income residents
should give specific attention to the re-housing needs of those residents.Normally,this should
be done as a part of the business subsidy. Adequate solutions to these re-housing needs will
be required as a matter of public policy.
H. Business subsidy requests will normally not be used in a project that involves an excessive
land and/or property price.This will normally be where the acquisition price is more that 10%
in excess of market value.
i. All business subsidy requests will need to meet the"but for"test. Business subsidies will not
be granted unless the need for the City's economic participation is sufficient that,without that
assistance the project could not proceed in the manner as proposed.
J. Business subsidies will not be used in projects that would give a significant,competitive
financial advantage over similar projects in the area due to the use of business subsidies.
K. Business subsidies will not be used when the developer's credentials, in the sole judgement
of the City,are inadequate due to past track record relating to:completion of projects,general
reputation and/or bankruptcy, or other problems or issues considered relevant by the City.
L. Business subsidies will not be used to support projects that place demands on City services,
or other capital or operating expenditures,that exceed the average city expenditures for similar
facilities.Consideration will be given to the total public costs that are required to support the
project, including offsite facilities costs that are required.
M. Business subsidies will not normally be used for projects that would generate significant
environmental problems in the opinion of the local, state,or federal governments.
N. Business subsidies will not be used when the schedule for development has exceeded the
schedule established in the development agreement, and where the City has not agreed to
extensions of that schedule.
O. Business subsidies should not be provided to those projects that fail to meet good public
policy criteria as determined by the Council,including:poor project quality;projects that are
not in accord with the comprehensive plan., zoning,redevelopment plans,and city policies;
projects that provide no significant improvement to surrounding land uses,the neighborhood,
and/or the City;projects that do not provide a significant increase in tax base;projects that do
not have significant new, or retained, employment; projects that do not meet financial
feasibility criteria established by the City;and projects that do not provide the highest and best
desired use for the property.
JUN. 6. 2001 3.43 NM EHLERS & ASSOCIATES N0. 4497 P. 12
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PROCEDURES
1. Meet with appropriate City Staff to discuss the scope of the project, public participation being
requested, and other information as may be necessary.
2. Completion of Preliminary Tax Increment Financing Assistance Application form_This form shall
be submitted to the Director of Community Development.
3. The request shall be reviewed by City Staff on a preliminary basis as to the feasibility of the project.
The staff shall prepare a report on the project.
4. The application shall be placed on the City Council agenda for concept review.The applicant may
make a formal presentation of the project. The Staff will present its'findings.
5. If the Council's Preliminary Concept Review is positive,the applicant may elect to file a formal
application accompanied by a non-refundable fee of$5,000 which shall only be refunded atthetime
of signing a redevelopment contract should the project be approved.
6. if Zoning and Planning Commission action is required,it will be necessary for the applicant,at this
time,to make application to the Commission for Concept Review.
7. Following the necessary financial analysis and preparation of detailed plans,the City Council and
HRA, if necessary, shall take action on the project. If approved, the staff will be directed to
undertake the following steps:
-prepare a redevelopment agreement based upon the terms approved
- prepare a redevelopment plan and tax increment financing plan if required
At this time a deposit(cash or letter of credit)shall be required to defray costs involved with these
steps which shall also be refunded at the tine a redevelopment contract is signed should the project
be approved
8. If a redevelopment plan or zoning action is required,the Zoning and Planning Commission, City
Council and HRA shall take the appropriate action at the same time that the redevelopment
agreement is considered for approval.
N;\MiaAsata1TIF\ SOURCOBusiness Subsidylbus subsidy criteriampd