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Home My WebLink About4A E-newsletter4646 Dakota Street SE Prior Lake. NW 55372 ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT MEETING DATE: February 28, 2013 AGENDA #: 4.a. PREPARED BY: Casey McCabe, Community Development Specialist AGENDA ITEM: PRIOR LAKE BUSINESS PAGES E- NEWSLETTER DISCUSSION: Introduction In an effort to communicate with the business community, the City of Prior Lake EDAC has distributed an electronic newsletter (Prior Lake Business Pages). The e- newsletter is a valuable tool to provide information about pending pro- jects, make announcements and keep the public informed about the services provided by the EDAC and the Community & Economic Development Depart- ment. History To date, five e- newsletters have been sent on an "as needed" basis to provide important information, highlight a specific development project or advertise an upcoming event. The EDAC published three issues in 2011 and two issues of the e- newsletter in 2012. The e- newsletter is currently distributed to over 360 recipients who have specifi- cally requested to receive the Prior Lake Business Pages e- newsletter on the City of Prior Lake website. If interested, EDAC members can sign up to receive the Prior Lake Business Pages on the Economic Development page of the City website at htt : / /www.cit of riorlake.com /cit newswire subscribe. ph . Conclusion Below are draft articles for the spring 2093 issue of the e- newsletter. EDAC members should review the proposed articles and provide direction, additional article topics and/or comments to staff. "Business Friendly" Zoning Ordinance Amendments The Economic Development Advisory Committee (EDAC) and Economic Devel- opment Authority (EDA) worked to identify opportunities to make the City of Prior Lake Zoning Ordinance more "business friendly ". These changes were a direct result of comments received from property owners, developers and community business leaders related to restrictive commercial /industrial zoning and devel- opment requirements in Prior Lake. Results of a 7 -city survey were used to determine if the Prior Lake's 1 -1, General Industrial District standards were more restrictive, less restrictive or similar to the zoning and land use requirements of surrounding communities. The community comparison identified areas where the City could amend the Zoning Ordinance to simplify the development process, provide more flexible design options and allow a wider variety of land uses and building materials within the City's 1 -1 Dis- trict. The Council approved the Zoning Ordinance amendments on December 10, 2012; a summary of the ordinance amendments can be viewed at www.(insertlink) Meet -N -Greet Event The Prior Lake Economic Development Advisory Committee (EDAC) has sched- uled the 2013 Prior Lake Business Meet -N -Greet event for April 25 ( or May 2 °d ) from 5:00 p.m. to 7:00 p.m. at Fong's Restaurant, Bar & Event Center. Free hors d'oeuvres will be provided along with a cash bar. Business leaders, proper- ty owners, developers and residents are encouraged to attend. The purpose of the event is to provide the business community an opportunity to share their suggestions, concerns and opinions regarding business development in the City of Prior Lake. For more information, please visit www.(insertlink) Technology Village The Prior Lake Technology Village Business Accelerator program is now open! With multiple support services and a professional office environment, the Tech- nology Village program provides affordable leases for four to six emerging tech- nology businesses within an existing 2,000 square foot office space in Prior Lake City Hall. In addition to an affordable rent structure, Technology Village provides clients with services, ranging from development assistance and net- work support to networking opportunities with other entrepreneurs and communi- ty organizations. The Technology Village program is one of many tools to help strengthen the lo- cal economy and position Prior Lake for future economic growth. The Technol- ogy Village Board of Directors is developing a local network of business leaders or "service providers" who are willing to assist program clients with necessary business development support (i.e., legal, accounting, finance, sales, marketing, and management). If you or your organization is willing to provide low- or no- cost business development assistance to these new Prior Lake business ven- tures, or if you have any questions about the program, contact Dan Rogness at drogness@cityofpriorlake.com or 952- 447 -9813. Please visit the Technology Village website at www.technologyvillage.net for more information. Prior Lake Building Activit Below is a comparison of 2011 and 2012 residential and commercial /industrial building activity in the City of Prior Lake. ➢ The City of Prior Lake issued 974 residential housing permits in 2012 com- pared to 106 in 2091; an increase of 64.2 %. ➢ In 2012, Prior Lake's new housing unit value totaled $51.3 million compared to a new housing unit value of $26.3 million in 2011; an increase of 95.1 %. ➢ 2012 residential addition and alteration permits were valued at $3.54 million, which is a decline of 10.4% from a 2011 valuation of $3.95 million. ➢ New commercial/industrial permit value totaled $1.1 million in 2012, com- pared to $0 in 2011; an increase of 110 %. ➢ Commercial /industrial addition and alteration permits were valued at $632,300 in 2012 compared to $839,900; a decrease of 24.7 %. Welcome New Business — Teresa's Mexican Restaurant The Economic Development Advisory Committee is pleased to welcome Tere- sa's Mexican Restaurant to Prior Lake at 6880 Boudin Street NE. The renovat- ed space includes 4,680 square feet with 950 seats. The Prior Lake location is the seventh Teresa's Mexican Restaurant in the nation and the fourth in Minne- sota. You can learn more about Teresa's Mexican Restaurant and view their menu at www.teresasmexicanrest.com ISSUES: EDAC members should review the proposed e- newsletter articles and provide direction, additional article topics and/or comments to staff. FINANCIAL Staff time dedicated to the newsletter. IMPACT: ALTERNATIVES: 1. Approve the proposed articles, with changes or additions, and direct City staff to finalize the spring 2013 issue of the Prior Lake Business Pages with a targeted circulation date in March 2013. 2. Take no action and continue discussion at a future EDAC meeting. RECOMMENDED Alternative #1. MOTION: