Item Coversheet

*4.B.4.


Shakopee City Council
July 19, 2022

FROM:Michael Kerski, Planning/Development Director
TO:Mayor and Council Members
Subject:

Application to the MN Department of Employment and Economic Development (DEED) Redevelopment Grant Program

Policy/Action Requested:

Adopt Resolution R2022-096, an application to the MN Department of Employment and Economic Development Redevelopment Grant Program.

Recommendation:
Adopt Resolution R2022-096.
Discussion:

The Minnesota Department of Employment and Economic Development (DEED) Redevelopment Grant assists development authorities to redevelop old industrial, residential, or commercial property when undeveloped parcels of land are available. The Redevelopment Grant Program applies only to sites where there was a previous development and significant barriers exist to redevelop the land for a more productive use. 

 

Canterbury Park will be selling, along with the city's EDA, 40 acres of land in the northeast corner of its property to Swervo Development Corporation for the development of an outdoor amphitheater. Part of the land is a former industrial site which is now a planned unit development. The DEED Redevelopment Grant will aid in the removal of the industrial site.

Budget Impact:
No budget impact. Since the city will act as the grant administrator, and if awarded, this grant will be a pass through grant. The developer will cover all match requirements.
ATTACHMENTS:
Description
Resolution R2022-096