HomeMy WebLinkAbout3. Setting of Public Hearing Date for Emerson Development Agreement 1 3.
SHAKOPEE
TO: Economic Development Authority
FROM: Mark McNeill, City Administrator
DATE: 03/05/2013
SUBJECT: Setting of Public Hearing Date for Emerson Development Agreement
Action Sought
The EDA should call for a Public Hearing to consider the Development Agreement for Emerson Process
Management.
Background
Emerson Process Management (Rosemount, Inc.) is the company with which the City, Scott County, State of
Minnesota, and ISD 191 have been working for several months to occupy the former ADC 2 site. This will bring
500 well - paying jobs to the region.
The City Council has approved tax abatement as an economic development incentive package for Emerson, which
was contingent upon the execution of a Development Agreement with Emerson. The Agreement is still in the
process of being negotiated. Once it is finalized, it will need to be adopted, following a Public Hearing.
This action sets a Public Hearing for the regular Council meeting of March 19th.
Recommendation
I recommend setting March 19th at 7 PM as the Public Hearing to consider the Development Agreement for
Emerson.
This will be a joint Public Hearing with the City Council.
Budget Impact
Setting the Public Hearing does not impact the City
budget.
Requested Action
If the EDA concurs, it should, by motion, direct that the attached notice be published to call for a Public Hearing at
7 PM on March 19, 2013 to consider a contract for private development and the business subsidy agreement
contained therein, with Rosemount, Inc., a Minnesota Corporation.
Attachments: Emerson PH Notice
CITY OF SHAKOPEE, MINNESOTA
ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF SHAKOPEE, MINNESOTA
NOTICE OF PUBLIC HEARING
Notice is hereby given that a joint meeting of the City Council of the City of Shakopee, Minnesota (the
"City ") and the Board of Commissioners of the Economic Development Authority for the City of
Shakopee, Minnesota (the "Authority ") will be held at or after 7:00 p.m. on Tuesday, March 19, 2013, at
the City Council Chambers of City Hall, located at 129 South Holmes Street South in the City, to conduct
a public hearing on a contract for private development proposed to be entered into between the City, the
Authority, Scott County, Minnesota (the "County "), Independent School District No. 191 (Burnsville —
Eagan— Savage) (the "School District "), and Rosemount Inc., a Minnesota corporation, or any of its
affiliates (the "Developer "), which contains a business subsidy agreement pursuant to Minnesota Statutes,
Sections 116J.993 to 116J.995 (the "Business Subsidy Act ").
Following the public hearing, the City Council and the Board of Commissioners will consider approving the
contract for private development and the business subsidy agreement contained therein. The business subsidy
consists of (i) the City's grant of a tax abatement to the Developer in the amount of $590,496, (ii) the City's
grant of other fmancial assistance related to the development proposed by the Developer in the amount of
$456,275, and (iii) a forgivable loan in the amount of $350,000 provided by the Authority to the Developer.
A summary of the terms of the proposed business subsidy is available for inspection at City Hall during
regular business hours.
Any person with a residence in the City or who is the owner of taxable property in the City may file a written
complaint with the City if the City fails to comply with the Business Subsidy Act. No action may be filed
against the City for the failure to comply unless a written complaint is filed. Any person wishing to express
an opinion on the matters to be considered at the public hearing will be heard orally or in writing.
Dated: March 7, 2013
BY ORDER OF THE ECONOMIC
DEVELOPMENT AUTHORITY OF THE
CITY OF SHAKOPEE, MINNESOTA
/s/ Mark McNeill
Executive Director, EDA
City of Shakopee, Minnesota
419321v1 JAE SH155 -290