Agenda - Economic Development Authority - 07/08/2010

Home

Motion by Member LeTourneau to authorize both contracts. Member Skaff seconded the motion. . Further Discussion: Chair Riley questioned why we wouldn't find a partnership. Member LeTourneau stated that we need this immediately and it's important enough to authorize. the funding. Member Look stated that he thinks the second proposal ($15,500) needs to be authorized immediately, but that the first proposal is on the horizon. City Administrator Ulrich suggested that the EDA fund it up to SO% and allow staff to make contacts. Economic Development Coordinator Sullivan recommended fully funding the $15,500 proposal and to fund half of the $49,500 proposal. Elwyn Tinklenberg pointed out that it is easy to be forgotten if not in front of elected officials constantly, and there will be hundreds of requests for funding so our presence is essential. Amended motion by Member Elvig, seconded by Member Look, to fund the full $IS,S00 proposal and fund half of the $49,500 proposal with the direction to staff to find the other 50 percent of the $49;500 and make an attempt on the other half of the $1S,S00 even though all of the $1 S,S00 is being funded by the EDA. Motion carried. Voting Yes: Members Riley, Steffen; LeToumeau, Skaff, Williams, Elvig, and Look. Voting No: None. Absent: None. Case #3: TIF REPORT FINDINGS FOR 167TH COMMERCIAL NODE Economic Development Coordinator Sullivan presented Case #3. At the July 2009 meeting, the EDA authorized LHB to conduct TIF analysis for the 167a' Avenue Commercial node. The completed. report was delivered to the City on December 2, 2009: The findings of the report were discussed briefly. The boundary of a redevelopment TIF district could exist, and a Renewal and Renovation District is also an option, but at this time, the only recommendation is to receive and accept the TIF report and identify TIF as a viable I redevelopment tool. Motion by Member Look, seconded by Member Steffen, to accept the TIF report. Motion carried. Voting Yes: Members Riley, Steffen, LeToumeau, Skaff, Williams, Elvig, and Look. Voting No: None. Absent: None. Case #4: REVIEW COST ASSOCIATED WITH FUTURE BUSINESS PARK Economic Development Coordinator Sullivan presented Case #4. The EDA discussed two potential future industrial park sites; in particular, property north of Highway 10 and property south of Highway 10. Staff worked with the Engineering department to estimate costs involved with providing sewer and water, and there is a significant difference in Economic Development Authority /December 10, 2009 Page 3 of 7.