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Prior Lake. MN 55372
Economic Development Authority Meeting Minutes
November 28, 2011
1. CALL TO ORDER
President Hedberg called the meeting to order at 4 p.m. Present were Hedberg, Hitchcock, Morris and Myser;
Finance Director Erickson, Assistant City Manager Kansier, Community and Economic Development Director
Rogness and Executive Director Boyles. Commissioner Choudek joined the meeting at 4:12 p.m.
2. APPROVAL OF AGENDA
MOTION BY MYSER, SECOND BY HITCHCOCK TO APPROVE THE AGENDA AS PRESENTED.
VOTE: Ayes by Hedberg, Hitchcock, Morris and Myser. The motion carried.
3. APPROVAL OF MEETING MINUTES
MOTION BY MORRIS, SECOND BY MYSER TO APPROVE THE MINUTES OF THE OCTOBER 10, 2011
MEETING AS PRESENTED.
VOTE: Ayes by Hedberg, Hitchcock, Morris and Myser. The motion carried.
MOTION BY MYSER, SECOND BY HITCHCOCK TO APPROVE THE MINUTES OF THE OCTOBER 31, 2011
MEETING AS PRESENTED.
VOTE: Ayes by Hedberg, Hitchcock, Morris and Myser. The motion carried.
4. PUBLIC HEARING
No public hearing was scheduled.
5. OLD BUSINESS
None scheduled.
6. NEW BUSINESS
A. Venture Fair— February 2012
Pace, Rogness and Steve Mercil met as directed by the EDA. Rogness distributed a paper from Steve
Mercil that identifies both full day and half day seminars. Need to learn how many hours for each, or
whether it could begin at 8 a.m., noon or 3 p.m. All options would be from cocktail hour to after dinner.
Hitchcock: asked whether the attempt is to merge the incubator (businesses) and investors.
Myser: stated he would be OK with both, having it on an annual basis, and done within one day. Stated
this may take longer to finalize than one or two months and expressed concern about paying for the pres-
entation.
Hitchcock: Would like to have companies speak at the event so businesses and incubators could pick one
or two tracks.
Choudek: Likes a multipurpose, annual event. Place where connections are made between incubators
and Angel investors.
Rogness: Suggested that the event begin in the afternoon leading into Rainsource funding after dinner.
Hitchcock: Offered to work with Rogness on planning.
Multiple tracks suggested were:
• Angel Investors / Businesses
• Putting Together Business Plan
Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com
• An Attorney For What You Need
• What Is An Incubator
• What City Approval Permits Are Needed For New Buildings
• Meeting Other Entrepreneurs Like Yourself
• Financing A New Business
A suggestion was made to ask Chamber and commercial bank representatives what type of information
would be desirable.
Morris: Create incubator community architecture. Get universities involved. Bob Garmachak runs School
of Business at Hamline, lives in Apple Valley. Ron Wax runs an entrepreneur and small business network.
Get these people as part of the Venture Fair.
Rogness: Stated that the Incubator Subcommittee meets Wednesday morning and could further discuss
this topic.
B. EDAC Report — Meet and Greet
Bill Henry presented information from the Meet and Greet. Hoped that training would be given. More City
attention.
Myser: stated we are re- engineering development processes. Also cueing up ordinance reviews.
Henry: Suggested we need to say what we are doing more. Also suggested that those who were at Meet
and Greet as well as home based businesses could be invited.
EDAC Report:
• EDA to direct parking investment. Look at some options. Look at Stillwater parking for pay. Look at
St. Louis Park and how it is funded.
• Revisit off - premise signs.
• Broadband Fiber Network
• Six responses to the RFQ.
• Scored top three
• Meeting on Wednesday to interview two or three.
Morris passed out an article, After the Stimulus: Broadband and Economic Development
• Technology Village Incubator
Hitchcock put together some thoughts. Has talked about purchase of land with private for - profit
owners.
Get NBIA books — one for each EDA member.
C. Tax Increment District 1.1 Discussion
Focus money on two EDA objectives: incubators and fiber optic. Boyles explained Velocity request.
Morris: Make sure there is plenty of fiber for a data center. How does fiber optic get to 511 building —169
connection? Is there an aerial photo which shows entire County with fiber overlay?
TIF 1 -1 usage to be aligned with incubator and with fiber. Subcommittees to identify how these funds could
best be used.
D. City Code Evaluation Process
• Off- premise signage as it relates to downtowns and business
• Parking needs for individual buildings; also for multi- tenant; also exterior type.
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E. EDA Business Plan
Rogness: Asked if the draft he attached to the agenda is going in the right direction. He included the out-
line as an overview.
Hedberg: EDA has identified strategic priorities — fold in. Also jobs.
Myser: Take business plan for fiber and incubator and roll in.
F. Business Inquiry List
Rogness: Reviewed the list.
Myser: Why do they say "no ?"
Choudek: Set it up so it can be sorted by key words.
Hitchcock: Turn around opportunity — second try.
The EDA asked that notice be posted that a special meeting will be conducted on Monday December 5, 2011, at 4
p.m. in Parkview.
ADJOURNMENT
MOTION BY MYSER, SECOND BY HITCHCOCK TO ADJOURN THE MEETING. With all in favor, the meeting
adjourned at 6:15 p.m.
Frank Boyles, Executive Director
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