HomeMy WebLinkAbout09 19 2013 EDA rept 8B
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: August 19, 2013
AGENDA #: 8B
PREPARED BY: Dan Rogness, Community & Economic Development Director
AGENDA ITEM: UPDATE – TECHNOLOGY VILLAGE
DISCUSSION: Introduction
The purpose of this agenda item is to allow staff to update the EDA on the current
status of Technology Village.
History
Technology Village was a 2013 economic development initiative of the EDA to cre-
ate a business incubator in City Hall within 2,000 square feet of available space.
The City Council appointed a 6-member Technology Village Board of Directors to
oversee operations and the approved Business Plan. The plan directed actions to
create subsidized leases, and to create a support network for (new) emerging tech-
nology businesses.
Current Circumstances
Three leases have been signed; one lease is pending; and one additional tenant
application is being reviewed; a more detailed review of the status of all leases
th
and leasable space will be given at the August 19 meeting.
Conclusion
th
City staff will update the EDA on August 19 as to the current status of leases at
Technology Village and other related issues.
ISSUES: To be identified at the August 19 th EDA meeting.
FINANCIAL Remaining budget expenditures in 2013 and lease revenue
IMPACT:
ALTERNATIVES: N/A
RECOMMENDED N/A
MOTION:
ATTACHMENTS: Template of Technology Village business lease