Agenda - Economic Development Authority - 11/05/2015

Home

STAFF NOTES: (anecdotal information) Zoning Amended. In 2014, the City did amend the zoning in the 167/47 Node to allow more flexibility for property owners (specifically related to a shooting range). Reduction in Inquiries. Since late 2014, inquiries/ requests for City assistance appear to have stopped (outside of Rum River Hills). Reduction in Vacancy Rates. Vacancy rates appear to be significantly lower at 167/47 Node now than in 2011. New major tenants include the Total Defense Gun Range, Hope Fellowship, a daycare, a call center, and a liquor store. Sign Removed. In 2015, the City removed a blighted sign located on a former bank owner property. Offer Made by Staff. In 2014, Staff did offer property owners that had made previous inquires (for City assistance) the opportunity to "pitch" a project that would receive assistance from the EDA. For example, one property owner was looking at improvements to their parking lot, boulevard, painting, storefront improvements, and connecting to City water. This project would have cost $20,000-$50,000 depending on a handful of factors. Staff suggested this property owner ask the EDA to pay for a portion of these costs (i.e. 50%). This property owner never responded to Staffs suggestion --as they were more motivated to sell than reinvest in their property. Statement of Goals. The attached Statement of Goals does indicate the City's willingness to use economic development tools to entice redevelopment of this node. The only entity (or property owner) that has shown serious interest in working with the City on redevelopment in this area is Rum River Hills Golf Course. That discussion is ongoing. Funding Source: TBD Recommendation: In early 2014, Staff would have advocated for the EDA to consider a matching grant program for the 167/47 Node. However, given the circumstances outlined in the "observations section" of this case, Staff believes the situation at the 167/47 Node may have changed. This initiative was outlined in the 2015 EDA workplan. Therefore, Staff would like direction to further investigate this opportunity or to drop it from the EDA workplan. NOTE: if this goal was dropped from the EDA workplan, Staff would maintain the position of encouraging property owners to bring forward inquires/ proposals to the EDA to improve the 167/47 Node. Staff, and subsequently the EDA, would respond to requests on a case-by-case basis (rather than developing a formal policy/ program). Action: This initiative was outlined in the 2015 EDA workplan. Therefore, Staff would like direction to further investigate this opportunity or to drop it from the EDA workplan. 167 and 47 Statement of Goals 11262013 2015 Economic Development Workplan Attachments Form Review Inbox Reviewed By Date