Item Coversheet

4.A.


Shakopee Economic Development Authority
October 17, 2023

FROM: Michael Kerski, Planning/Development Director 
TO:President and Board Members
Subject:
Review of Incentive Policy
Policy/Action Requested:
Review and provide comments and direction.
Recommendation:
Staff has reviewed our surrounding cities and will provide additional information.  Based on our preliminary review, we have one of the most restrictive policies based on wages.
Discussion:

Staff will provide a brief presentation on its research on other cities.  

 

Many cities are using their incentive policies specifically to promote affordable housing.  Shakopee has used its policy in the past to:

 

Promote redevelopment:

former city hall site

contaminated block where Shakopee Flats was constructed

Canterbury - major public infrastructure

Southbridge - dirty soils 

Amazon - public infrastructure with Scott County

 

Job creation through TIF or Abatement:

Entrust (Datacard) - Abatement

Emerson - Abatement

Seagate - TIF

Cherne - Abatement

Shutterfly - Abatement

KEB America - Abatement

San Mar - TIF

Sams Club Distribution - Abatement

 

Special TIF legislation for gravel pit remediation.

 

Commercial Facade Improvement Program - forgivable loans for facade improvements.

Budget Impact:
ATTACHMENTS:
Description
2020 Adopted Policy