HomeMy WebLinkAbout12 16 2013 EDA Report 8A
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: December 16, 2013
AGENDA #: 8A
PREPARED BY: Dan Rogness, Community & Economic Development Director
AGENDA ITEM: TECHNOLOGY VILLAGE REPORT
DISCUSSION: Introduction
The purpose of this agenda item is for staff to provide the EDA with a year-end
report on Technology Village.
History
The EDA has supported the change of 2,000 square feet in City Hall from space
for the Park & Recreation Department to space for a business incubator called
Technology Village. This change required the allocation of $50,000 from city re-
serves to complete the transformation; the formation of a Board of Directors; and
a resource allocation of staff to this economic development initiative.
Current Circumstances
The 2,000 square feet of space allocated to Technology Village is filled with six
businesses. Staff received City Council support to continue this operation and to
expand into Phase II beyond City Hall in 2014.
Conclusion
Staff will provide a more thorough verbal report at the EDA meeting.
ISSUES: This report is only a verbal year-end update from staff; if the EDA would like a full
written annual report for 2013, it may direct the Technology Village Board of Di-
rectors to do so.
FINANCIAL 2014 budget of $26,500.
IMPACT:
ALTERNATIVES: Direction provided by the EDA
RECOMMENDED N/A
MOTION: