HomeMy WebLinkAbout02 27 2014 EDAC rept 3a
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: February 27, 2014
AGENDA #: 3.a.
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: COMMERCIAL VACANCY TRACKING SHEET UPDATE
DISCUSSION: Introduction
The EDA has directed the EDAC to track and publish a list of commercial buildings in the commu-
nity with vacant space for lease.
History
City staff sent a letter and information sheet to property owners and real estate agents represent-
ing 22 Prior Lake commercial and industrial properties that staff is either aware of a current va-
cancy or a vacancy existed within the past 12 months. Staff requested the property information
sheet be completed for each property that has available space for lease and returned to City Hall
by January 24so the information can be compiled and made available on the city website.
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Current Circumstances
Only four of the 22 properties responded with the requested commercial space information. Staff
was able to contact 15 of the 18 remaining properties to determine how much total space was
available and the maximum contiguous square feet. Four of the properties contacted no longer
had any available space and the three properties who did not respond were left off the list.
Conclusion
Attached is an updated list of available commercial and industrial property in Prior Lake. The
attached spreadsheet also provides a link to an online commercial listing, if available. The spread-
sheet will be made available on the Economic Development page of the City of Prior Lake website.
The website will also direct anyone wishing to include commercial or industrial lease space on the
available lease space inventory to contact Community Development Specialist, Casey McCabe.
ISSUES: Having a list of available commercial and industrial properties in the City of Prior Lake is a valuable
resource for city staff and the Scott County First Stop Shop; however, staff expects it will be difficult
to keep an accurate and complete listing of available property.
FINANCIAL Staff time devoted to the project.
IMPACT:
ALTERNATIVES: Discussion Only.
RECOMMENDED Discussion Only.
MOTION:
ATTACHMENTS: 1. Available Commercial and Industrial Property Inventory