HomeMy WebLinkAbout05 19 2014 EDA Report 8A
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: May 19, 2014
AGENDA #: 8A
PREPARED BY: Casey McCabe, Community Development Specialist
PRESENTED BY: Lloyd Erbaugh, EDAC Chair
AGENDA ITEM: EDAC QUARTERLY UPDATE
DISCUSSION: Introduction
The purpose of this agenda item is to provide a quarterly report of EDAC activity
to the EDA.
History
In an effort to provide better communication between the Economic Development
Authority and the Economic Development Advisory Committee, the EDA liaison,
Michelle Choudek, attends regular monthly EDAC meetings and the EDAC pro-
vides quarterly activity reports to the EDA. The 2013 accomplishments and 2014
goals for the EDAC, as approved by the City Council, are listed below:
2013 Accomplishments:
Completed Business Retention & Expansion Surveys & BR&E Program Sum-
mary Report.
Held the Business & Industry Forum event.
Initiated and recommended amendments to the Industrial zoning ordinance
standards.
2014 Goals:
1. Revise and improve business marketing materials for Prior Lake.
2. Utilize and advocate Scott County’s First Stop Shop and SCALE to enhance
local business growth.
3. Continue to address comments from the Business & Industry Forum, and com-
plete additional BR&E survey research.
Current Circumstances
Below is a summary of recent EDAC projects and activities. The EDAC seeks to
undertake responsibilities which are consistent with the goals the approved by the
City Council in January. The number within the parentheses indicates which goal
and objective the activity relates to.
City of Prior Lake Marketing Materials (1)
The EDAC has established a subcommittee of five members who are working
with City staff to update the marketing packet / community profile. City of Prior
Lake Communications Coordinator, Michael Peterson, is crafting the packet
and has made numerous revisions at the request of the subcommittee. Staff
expects a draft marketing packet will be ready for EDA review and comment
during their June 2014 meeting.
Commercial Vacancy (3)
The EDA directed the EDAC to track and publish a list of commercial buildings
in the community with vacant space for lease. City staff worked with the EDAC
and sent a letter and information sheet to property owners and real estate
agents representing 22 Prior Lake commercial and industrial properties that
staff was either aware of a current vacancy or a vacancy existed within the
past 12 months. Those property representatives that did not respond to the
request for information were contacted via phone or email.
The EDAC was able to compile a list of fifteen commercial and industrial prop-
erties with available lease space. A list of the properties with vacancy; includ-
ing square feet available, lease rate, contact information, and links to market-
ing materials, if available, have been added to the Economic Development
page of the city website (http://www.cityofpriorlake.com/documents/build-
ing_vacancies.pdf). The website also directs anyone wishing to include com-
mercial or industrial lease space on the available lease space inventory to con-
tact Community Development Specialist, Casey McCabe
Keeping an updated list of available commercial and industrial properties in
the City of Prior Lake is a valuable resource for businesses looking for space
and City and Scott County First Stop Shop staff when responding to requests
for site information.
Prior Lake Business Pages (1) and (2)
In an effort to communicate with the business community, the EDAC distrib-
utes an electronic newsletter (Prior Lake Business Pages). The e-newsletter
is a valuable tool to provide information about pending projects, make an-
nouncements and keep the public informed about the services provided by the
EDAC, EDA and the Community & Economic Development Department. The
e-newsletter is currently distributed to over 360 recipients who have specifi-
cally requested to receive the Prior Lake Business Pages e-newsletter on the
City of Prior Lake website.
The EDAC sent the latest edition of the Prior Lake Business Pages in March,
which included articles on the Scott County Open to Business program, local
economic growth at Technology Village, Prior Lake commercial and residential
building activity update, information on commercial and industrial lease space
availability, 2040 Metropolitan Council population forecasts and an invitation
to the 2040 vision & strategic planning meeting.
Downtown Parking Study (3)
As directed by the EDA, the EDAC has formed a subcommittee to work with
staff and representatives of the Prior Lake Downtown Business Association to
evaluate downtown parking. The subcommittee has held one meeting and will
be working to: 1) secure parking signs at public parking lots; 2) explore down-
town parking time limits; and 3) evaluate downtown employee parking options.
A report of the findings and recommendations will be provided during a future
meeting of the EDA.
Business & Industry Forum Follow Up Action (3)
The EDAC continues to evaluate and respond to comments received during
the 2013 Business & Industry (B&I) Forum. In previous years the committee
has divided the comments into short and long-term goals and attempted to
address the short term goals. This year, the EDAC would like to respond to
all comments and either detail the action that has occurred, the proposed ac-
tion, or note if action is unnecessary or desired results are not achievable. The
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response to each comment will be made available to all meeting attendants
and others interested in reviewing the results on the EDAC page of the City
website, following EDA review. Additional reports related to this item will be
presented to the EDA during future meetings.
Plan to Communicate/Promote Business Growth and Business Climate (1)
In response to comments received in the EDAC’s Business Retention & Ex-
pansion surveys related to the lack of commercial growth, the EDA previously
directed staff to work with the EDAC to develop a plan to communicate and
promote business growth and the positive steps taken by the City of Prior Lake
to improve the local business climate.
The EDA asked staff and the EDAC to identify opportunities to get information
out related to commercial construction and the increased amount of Prior Lake
Chamber of Commerce memberships. The purpose of this information is to
promote commercial activity and ensure that residents and business owners
are aware of the commercial growth in Prior Lake.
The 2014 EDA Business Plan, adopted by the EDA on March 17, 2014, in-
cludes “Marketing of Prior Lake” in the 2014 Implementation Plan as a key
initiative of the EDA. The Marketing of Prior Lake initiative states, the EDA will
utilize the EDAC’s help to complete a full update of marketing materials for
Prior Lake in terms of facilitating economic development. The EDAC will pro-
vide a recommendation to the EDA, including but not limited to, folders, bro-
chures, website and advertisement. In addition, the City of Prior Lake will par-
ticipate in discussions with other public/private partners to explore a regional
entertainment and recreation marketing effort being spearheaded by Mystic
Lake Hotel & Casino.
The EDAC is currently developing a new City of Prior Lake marketing packet /
community profile and continues to promote commercial activities in the Prior
Lake Business Pages e-newsletter. The City of Prior Lake and the Communi-
cations & Technology Advisory Committee are working to update the City of
Prior Lake website. Mayor Hedberg and City Administration have been work-
ing to develop a regional entertainment and recreation marketing plan. The
EDAC would appreciate additional direction on what added steps the EDA
would like to see to promote the positive commercial activity in the community.
Conclusion
Updates of EDAC activity will be presented by Lloyd Erbaugh, EDAC Chair, during
the May 19, 2014 EDA meeting.
ISSUES: The EDA should consider the extent to which the work contemplated herein by the
EDAC aligns with the EDA’s goals for this advisory committee. Specific direction
is requested related to the marketing and promotion of commercial activity.
FINANCIAL Staff time is invested in attendance and preparation for EDAC meetings and re-
IMPACT:
search and studies completed with the assistance of the EDAC.
ALTERNATIVES: 1. Accept the report as submitted or with amendments.
2. Take no action and direct the EDAC as appropriate.
RECOMMENDED Staff recommends a motion and second in support of Alternative 1.
MOTION:
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