HomeMy WebLinkAbout05 02 2013 EDAC rept 5a
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: May 2, 2013
AGENDA #: 5.a.
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: EDA UPDATES
DISCUSSION:
Introduction
The EDA held its regularly scheduled meeting on Monday, April 15, 2013. The EDA discussed the
following items on their agenda.
Economic Development Requires City Investment
Downtown Discussion Redevelopment, South Downtown and Envision MN
Special Meeting with Eric Lampland
History
Economic Development Requires City Investment
City Manager Boyles presented a PowerPoint highlighting three Prior Lake economic develop-
ment success stories; including Waterfront Passage Industrial Park, South Lake Village area, and
the Downtown. The main point of the presentation was to demonstrate that in order to achieve
these successes the City of Prior Lake had to make investments both through staff time as well as
various development incentives. In order to achieve its objectives, the EDA will need to consider
the amount and type of resources it is willing to devote to economic development projects.
City staff presented information related to the value of a job to a community and summarized how
other cities are supporting data centers with public financing tools such as tax abatement and a
reduction in electric rates. Chaska and Shakopee are two examples, both which have municipal
electric utilities, a key component to assist data centers.
The EDA was in agreement that jobs were the number one goal of economic development, fol-
lowed by business creation and then tax base.
Downtown Discussion Redevelopment, South Downtown and Envision MN
City Engineer, Larry Poppler, attended the EDA meeting for a South Downtown Study discussion.
Mr. Poppler informed the EDA that in order to move forward with a potential new signalized inter-
section at TH 13 and Franklin Trail, a $50,000 increase to the Bolton & Menk contract is neces-
sary to provide additional information to MnDOT and to answer other council related questions re-
garding the downtown area.
The EDA discussed the additional commercial development and redevelopment that would likely
occur as a result of a new street connection and intersection improvements in the south downtown
area. The EDA was in agreement that additional information would be necessary to gauge how a
new street connection and intersection improvements would impact commercial activity and
transportation networks.
Special Meeting with Eric Lampland
During their March meeting, the EDA reviewed a proposal from Lookout Point Communications for
additional work related to the broadband fiber network study. The EDA endorsed the proposal for
additional work but deferred approving the proposal until they have a conversation with Eric
Lampland of Lookout Point Communications to finalize the scope of services.
The EDA will schedule a meeting date for a discussion with Eric Lampland about a potential
scope of work for broadband consulting services in 2013.
Due to time constraints the EDA deferred discussion about available economic development financing
tools and an update to the Business Subsidies Policy to a future meeting.
Conclusion
Updates of EDA activity related to the status of the above listed topics will be presented to the EDAC
during the May 2, 2013 meeting.
ISSUES: Update only.
FINANCIAL None.
IMPACT:
ALTERNATIVES: Update only.
RECOMMENDED Update only.
MOTION:
2