Minutes - Economic Development Authority - 07/10/2008

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locations explored only one came back with favorable results, 16600 St. Francis Boulevard. This parcel is owned by Oakwood Land Development. John Peterson has stated that he is open to the City acquiring the property. The property is just to the north of the 167th commercial node that will be researched as part of the Buxton Study. The City Council has asked the EDA and HRA to investigate the opportunity to acquire the entire 14.22 acre parcel at 16600 St. Francis Boulevard. Assistant City Engineer Himmer stated ideally staff would like the water tower up by next year, but in reality it will likely be in 2010. It gets down to whether to spend more money to put the tower in the proposed location, or if this alternative site is a viable option to consider. Appraisals have been started on all thee of the alternative sites being considered and should be completed within the next two to three weeks. Based on County information, the cost savings of the water tower alone could justify buying the 14.22 acres at 16600 St Francis Boulevard. Economic Development Coordinator Sullivan stated from an economic development perspective, the area to the west does not seem relevant for the EDA. He suggested staff be given direction to obtain more information on the cost or to specify the EDA's interest in the eastern portion of the site. Chairperson Riley inquired what the EDA's interest would be in the site. Assistant City Engineer Himmer replied the City Council seemed supportive and open to the idea of the acquisition, but the comment was made that the City should not buy land just to buy it; there should be a plan for the use ofthe land. Community. Development Director Miller noted the possibility of enlarging the commercial area and having more of a mixed use with a residential component that would possibly involve an HRA/EDA partnership. The EDA could sell the land that is not needed for the water tower with a plan in place. There was discussion on the possibility of the golf course utilizing land in the subject parcel. It was noted that this area was included in the McColmbs Study. Economic Development Consultant Mulrooney advised it should be taken into account that the appraisal will be of a vacant piece of land, but the water tower will result in some potential negative aspects as to what could be supported on the parcel. Consensus of the Board was to direct staff to have appraisals completed on the alternative sites and to present the Board with additional information on the possible EDA purchase of 16600 St. Francis Boulevard, including a plan for the site. Case #3: Consider Reduction of Development Fees Associated with the Anderson Dahlen Expansion Economic Development Coordinator Sullivan stated that Anderson Dahlen built an 84,000 square foot manufacturing facility in Ramsey in 1999. The total employment of the company was 110 in 1999 and they have now grown to 160 with wages around $16-$20/hour. The proposed 50,000 square foot expansion will create an additional 20 jobs over the next two years. Economic Development Authority/July 10, 2008 Page 4 of7