EDC 11-20-2013 - Laserfiche WebLink

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MINUTES New Brighton Economic Development Commission Not Approved Regular Meeting—October 16, 2013 7:30 a.m. Members/Liaisons Present: Chair Paul Zisla, Commissioners Mike Murlowski, Linda Zelm, D.L. Beach, Al Potter, Bruce Knight Vivian Neumann-Walker and Councilmember Paul Jacobsen Members/Liaisons Absent: Kevin Peck Staff Present: Grant Fernelius-Community Development Director, Katie Bruno-Office Assistant. Also Present: Call to Order Chairperson Zisla called the meeting to order at 7:30 a.m. Approval of Minutes Motion by Commissioner Potter, seconded by Commissioner Zelm to approve the minutes from the August 21, 2013 meeting. Approved 7-0 Report from Council Liaison Councilmember Jacobsen reported that the Council has preliminarily set the 2014 levy, and it is a 5.74% reduction from 2013. The Urban Farming Task Force held their first meeting; it was reported as a successful meeting. The Task Force plans to meet through the spring of 2014. At the recent Council Meeting, the council granted approval for the Pulte project. New Brighton Exchange Pulte Homes Director Fernelius reported that Pulte Homes received their formal land use approvals from the City Council on September 241h. Pulte alerted the City that they haven't received its environmental approvals from the Minnesota Pollution Control Agency. These approvals are needed before the company can close on the property. As such, they are asking for additional time (up to 60 days) to complete the due diligence phase. This extension would need to be approved by the City Council, and is expected to be on the October 22 Council Agenda. API Group Expansion Attorneys for APi Group presented a draft of the Redevelopment Agreement for the expansion project in mid-September. While most of the changes were minor, a couple of business terms were changed. First, the company is requesting to extend all dates by 9 months. While this request is understandable, it does have potential financial implications. The 9 month delay pushes back the likely completion date of the building from 2014 to 2015, meaning that the City will not receive the full tax benefit until a year later than projected. Ehlers has indicated that a one year delay equates to roughly $100,000 of tax increment revenue.