04 13 26 Economic Development Authority Meeting
Monday, April 13, 2026
Approval of agenda
Approval of January 12th, 2026 meeting minutes
Concept plan presentation for 85-unit rental townhome development on Highway 12
Redevelopment tax increment financing (TIF) potential for proposed housing project
Infrastructure, traffic, and pedestrian connectivity impact assessment
Market and financial feasibility of rental townhome product
Votes (2)
Adopt evening's agenda
Moved by Francis · Seconded by Warden
Approve minutes from January 12th, 2026
Moved by Duca · Seconded by Francis
Notable Quotes (4)
Most of the proposals that the city has gotten on this property in the last 5 to 10 years have been some sort of a storage facility... we have historically now on multiple occasions turned those down.
Is this the most efficient use of this land? Could it be better served with some commercial or mixed-use properties given that we have a limited commercial tax base?
Adding 100 units in the downtown, adding 85 units here still isn't going to bring Target knocking on our doors... What we're doing is we are bringing business to local establishments.
In the state of Minnesota for ownership, HOA town home communities are under a lot of regulation and that risk profile is significantly higher and different than a rental community.
People (7)
Presented the concept plan and zoning details for the proposed rental townhome development.
Representing the applicant for the proposed 85-unit rental townhome project.
Expressed concerns regarding land efficiency, infrastructure support, and potential traffic impacts.
Focused on the economic viability and the EDA's role in TIF, leaving design to planners.
Supported the proposal as a means to increase rooftops to stimulate local business.
Inquired about rental ratios, management, and the shift toward renting over owning.
Associated with the industrial property owner and site history.
Places Mentioned
Events & Meetings (1)
- April 13th, 2026, 7:00 PM - Economic Development Authority Meeting