HomeMy WebLinkAbout3.a. Approval of Minutes: February 15, 2011OFFICIAL PROCEEDINGS OF THE
ECONOMIC DEVELOPMENT AUTHORITY
SHAKOPEE, MINNESOTA
Regular Session
February 15, 2011
Members Present: President Pamela Punt, Commissioners Pat Heitzman,
Steve Clay, Matt Lehman and John Schmitt
Staff Members Present: Mark McNeill, City Administrator; R. Michael Leek, Community
Development Director; Bruce Loney, Public Works Director /City Engineer;
Jim Thomson, City Attorney; and Judith S. Cox, City Clerk.
1 Roll Call
President Punt called the meeting to order at 8:35 P.M. and roll was noted as above.
2. Approval of the Agenda
Lehman/Schmitt moved to approve the agenda. Motion carried 5 -0.
3. Consent Items
Schmitt /Lehman moved to approve the Consent items. Motion carried 5 -0.
a. Minutes from January 18, 2011
4. Development Tools and Funding Sources.
Michael Leek, Community Development Director, presented the EDA with the (Economic
Development Advisory Committee) EDAC's recommendations for Economic Development Tools and
Funding Sources.
J dith S. Cox
VE DA Secretary
Mr. Leek said the EDAC recommends expanding the current Facade Improvement Loan Program
(FILP) to allow the use of loan funds to remodel or modify the interior of a building and make other
site improvements such as landscaping. Other recommendations include considering acquisition of
sites and write down the cost of such sites for use by private developers but only when the property
owner petitions the city to acquire the site; city investment in additional infrastructure; further
marketing of available buildings and sites via the City's website and other media outlets; encourage
Scott County to review and reconsider its policy of not participating in tax abatement as a business
subsidy; and explore the possibility of establishing or expanding a gap finance program, perhaps in the
form of a revolving loan fund.
Schmitt /Clay moved to accept the EDAC's recommendations regarding financing tools and funding
sources for economic development, as presented.
Mr. Leek noted that the options are not binding but are kept in a tool box to be considered if the right
circumstances come along.
Motion carried 4 -1 with Commissioner Lehman opposed.
5 Adjourn.
Punt /Clay moved to adjourn to Tuesday, March 15, 2011 at 7:00 P.M. Motion carried 5 -0.
The meeting adjourned at 9:22 P.M.
Kim Weckman
Recording Secretary