Agendas & Minutes
4/16/2019 9:49:56 AM
4/16/2019 9:48:00 AM
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CITY OF LAKEVILLE <br />CITY COUNCIL WORK SESSION MINUTES <br />January 28, 2019 <br />1. Mayor Anderson called the meeting to order at 6:02 p.m. in the Lake Marion Conference Room. <br />Members present: Mayor Anderson, Council Members Hellier, Lee, Volk, and Wheeler <br />Members absent: None <br />Staff present: Justin Miller, City Administrator; Allyn Kuennen, Assistant City Administrator; <br />Dave Olson, Community & Economic Development Director; John Hennen, Parks & Recreation <br />Director; Daryl Morey, Planning Director; Tamara Wallace, Deputy Clerk <br />2. Citizen Comments: <br />There were no citizen comments. <br />3. QA1 TIF Update <br />Mr. Olson presented an update on QA1 Precision Product's application request for Tax <br />Increment Financing or TIF. The company, presently based out of Lakeville, is looking to <br />develop a new 100,000 square foot facility in the Interstate South Logistics Park that would <br />replace two existing adjacent buildings owned by QA1. The expansion would see a job growth of <br />44 new positions in the next five years with an average salary of $40,600. The estimated cost of <br />the new facility would be approximately $11,459,000, of which $2,809,000 is eligible for TIF <br />assistance. The TIF application has identified a financing gap and specifies the project would not <br />be feasible if not for TIF financing. <br />Staff is recommending the project receive 95% of the captured increment for a period of seven <br />years; in exchange QA1 will complete the project by the end of 2019/ early 2020 and will add 19 <br />jobs over the next two years with a starting wage of $29,100 to $72,100 plus benefits. The City <br />Council and EDC previously recommended proceeding forward with the application, and a <br />public hearing is tentatively scheduled for the Tuesday, February 19 City Council meeting for <br />formal consideration. <br />The Council clarified whether the present seven-year term could be extended should there be an <br />opportunity for future expansion of the new building, and if there is an established philosophy <br />for how many positions a TIF project should generate to qualify for application. The Council <br />directed staff to move forward with next steps for the QA1 TIF application. <br />
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