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HomeMy WebLinkAbout2013 04-29 EDA Meeting PacketAGENDA MAPLEWOOD AREA ECONOMIC DEVELOPMENT AUTHORITY Monday, April 29, 2013 The Maplewood City Council Serves as the Maplewood Area Economic Development Authority A. CALL TO ORDER B. ROLL CALL C. APPROVAL OF AGENDA D. APPROVAL OF MINUTES 1. Approval of February 11, 2013 Economic Development Authority Meeting Minutes E. PUBLIC HEARING None F. UNFINISHED BUSINESS 1. Discussion on Tax Increment Financing District for 3M Research and Development Facility a. Possible Declaration of Intent to Close Meeting (Minn. Stat. §13D.05) G. NEW BUSINESS None H. ADJOURNMENT THIS PAGE IS INTENTIONALLY LEFT BLANK Item D1 February 11, 2013 Maplewood Area Economic Development Authority Meeting Minutes 1 MINUTES MAPLEWOOD AREA ECONOMIC DEVELOPMENT AUTHORITY February 11, 2013 Council Chambers, City Hall A. CALL TO ORDER A meeting of the City Council serving as the Economic Development Authority, (EDA), was held in the City Hall Council Chambers and was called to order at 6:17 p.m. by EDA Chair Koppen. B. ROLL CALL Will Rossbach, Member Present Rebecca Cave, Vice Chair Present Robert Cardinal, Member Present Kathleen Juenemann, Member Present Marvin Koppen, Chair Present C. APPROVAL OF AGENDA Vice Chair Cave moved to approve the agenda as submitted. Seconded by Member Rossbach Ayes – All The motion passed. D. APPROVAL OF MINUTES 1. Approval of January 28, 2013 Economic Development Authority Meeting Minutes Vice Chair Cave moved to approve the January 28, 2013 Economic Development Authority Meeting Minutes as submitted. Seconded by Member Rossbach Ayes – All The motion passed. E. PUBLIC HEARING None F. UNFINISHED BUSINESS 1. Highway 36 and English Interchange Acquisition Discussion (No Report) Declaration of Intent to Close Meeting (Minn. Stat. § 13D.05) Member Juenemann moved to close the meeting for purpose of discussion on Highway 36 and English Interchange Acquisition as permitted by Minn. Stat. § 13D.05. EDA Packet Page Number 1 of 3 Item D1 February 11, 2013 Maplewood Area Economic Development Authority Meeting Minutes 2 Seconded by Member Cardinal Ayes – All The motion passed. Chair Koppen reopened the Maplewood Area Economic Development Authority Meeting. Member Rossbach gave a brief overview of the discussion held. Councilmember Juenemann moved to authorize to negotiate up to $709,500 for property acquisition. Seconded by Member Cardinal Ayes – All The motion passed. G. NEW BUSINESS None H. ADJOURMENT EDA Chair Koppen adjourned the meeting at 6:39 p.m. EDA Packet Page Number 2 of 3 EDA Agenda Item F1 AGENDA REPORT TO: James Antonen, City Manager FROM: Charles Ahl, Assistant City Manager SUBJECT: Discussion of a Tax Increment Financing District for a Research and Development Lab Facility on the 3M Campus DATE: April 22, 2013 INTRODUCTION/BACKGROUND The Economic Development Authority is charged with the responsibility for the Economic Development of properties within the City of Maplewood. The 3M Company is proposing to construct a 400,000-square foot Research and Development Laboratory on their campus in Maplewood. The estimated cost for the R&D Facility provided by 3M is estimated at $156 million and is proposed to be constructed over the next 2 years. The proposed facility is expected to house over 700 employees. It has been testified by 3M Officials that those 700 employees, plus support personnel, will remain on the Maplewood campus, rather than be re-located to others states or elsewhere in the 3M international properties. This job retention, plus the potential for continued upgrades and expansion on the Maplewood campus are the basis for considering Tax Increment Financing support for this project. 3M has requested Tax Increment Financing for the purpose of reinvestment in their campus and retention of these research positions in Maplewood/Minnesota. The City Council, acting as the Economic Development Authority, will likely go into closed session to discussion negotiations that are on-going with 3M for TIF provisions. Recommended Action It is recommended that the EDA members conduct a closed session to discuss contractual negotiation issues listed above. No action is required; however staff is requesting guidance. EDA Packet Page Number 3 of 3