HomeMy WebLinkAbout08 22 2013 EDAC rpt 5a
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: August 22, 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, August 19, 2013. The EDA dis-
cussed the following items on their agenda.
Local Business Incentives Policy
Update Downtown Initiatives
Consider Approval of a Resolution Adopting the Proposed 2014 EDA Budget and Tax Levy
Amendments to EDAC Bylaws
Update Technology Village
Update Fiber Agreement with Integra
History
Local Business Incentives Policy
The EDA reviewed and recommended the City Council approve the
draft Local Business
Incentives Policy. The Local Business Incentives Policy is intended to complement
the City of Prior Lake Business Subsidies Policy and help guide local decisions
and provide transparency for public financial assistance of less than $150,000 for
economic development purposes.
Update Downtown Initiatives
Staff presented an update of downtown activities to the EDA including information related
to:
A proposed new multi-family workforce or senior housing on vacant land along County
Highway 21, between Duluth and West Avenues;
A proposed new dental office and possible redevelopment project;
The proposed purchase of a parcel from a willing seller that would eventually be part of
future right-of-way for Arcadia Avenue extended between Colorado and Pleasant
Streets;
The possibility of providing a financial incentive (grant) to encourage the demolition of
a vacant blighted house on Erie Avenue; and
An update on the Summit Mortgage Corporation/former Sinclair gas station redevelop-
ment project.
Consider Approval of a Resolution Adopting the Proposed 2014 EDA Budget and Tax Levy
The EDA approved a Resolution Adopting the Proposed 2014 EDA Budget and Tax Levy
which will now be
forwarded to the City Council for its 2014 budget review/approval
The 2014 proposed budget reflects some adjustments for personnel costs, legal
process.
and professional services as well as funding for the SAC loan deferral program.
Amendments to EDAC Bylaws
The EDA reviewed and approved the proposed amendments to the EDAC Bylaws which
were reviewed and recommended by the EDAC on June 27, 2013.
Update Technology Village
Staff provided an updated of Technology Village activities, including an overview of the
t
hree leases which have been signed; one lease is pending; and one additional
tenant application is being reviewed.
Update Fiber Agreement with Integra
Staff provided an updated on the current status of a cooperative fiber agreement with the
City of Prior Lake, Integra and Scott County. County staff have negotiated a contract with
Integra for fiber expansion to certain city facilities and business parks within the City of Prior
Lake.
Conclusion
Updates of EDA activity related to the above listed topics will be presented to the EDAC during
the August 22, 2013 meeting.
ISSUES: Update only.
FINANCIAL None.
IMPACT:
ALTERNATIVES: Update only.
RECOMMENDED Update only.
MOTION:
2