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Home My WebLink About5D 2015 EDA Annual Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: APRIL 11, 2016 AGENDA #: 5D PREPARED BY: CASEY MCCABE, COMMUNITY DEVELOPMENT SPECIALIST PRESENTED BY: DAN ROGNESS, COMMUNITY & ECONOMIC DEVELOPMENT DIRECTOR AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY 2015 ANNUAL REPORT DISCUSSION: Introduction The purpose of this agenda item is to approve the EDA’s 2015 Annual Report which is attached to this agenda report for your review. History Article 8.4 of the EDA Bylaws states, “Annually, or as may be required by City Council, at a time and in a form fixed by the City Council, the EDA shall submit a report to the City Council giving a detailed account of its activities and of its receipts and expenditures during the preceding calendar year, together with additional matter and recommendations it deems advisable.” Current Circumstances Using the 2014 Annual Report as a template, the EDA has completed the 2015 Annual Report. Conclusion This report reviews the EDA’s past year accomplishments and activities ISSUES: This annual report for 2015 provides a good summary of annual EDA activities and has been approved by the EDA for submission to the City Council. FINANCIAL IMPACT: Staff costs incurred with completing the report. ALTERNATIVES: 1. Motion and second, as part of the Consent Agenda, to approve a resolution approving the EDA 2015 Annual Report, subject to further changes as may be provided by the City Council. 2. Motion and second to table action and provide further direction to staff. RECOMMENDED MOTION: ATTACHMENT: Alternative #1 1. EDA 2015 Annual Report 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 16-XXX A RESOLUTION APPROVING THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY 2015 ANNUAL REPORT Motion By: Second By: WHEREAS, The Prior Lake Economic Development Authority (EDA) has completed its 2015 Annual Report; and WHEREAS, The Annual Report summarizes the EDA’s activities during 2015; and WHEREAS, The City Council finds that it is in the public interest to approve the EDA’s 2015 Annual Report. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. The City Council approves the Economic Development Authority’s 2015 Annual Report. PASSED AND ADOPTED THIS 11th DAY OF APRIL, 2016. VOTE Hedberg Keeney McGuire Morton Thompson Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Frank Boyles, City Manager 1 | P a g e PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY (EDA) 2015 Annual Report EDA Commissioners: EDA Staff: Ken Hedberg (President) Frank Boyles, Executive Director and Secretary Michelle Choudek (Vice-President) Don Uram, Treasurer (replaced Jerilyn Erickson) Dave Chromy Dan Rogness, Assistant Treasurer Rick Keeney Casey McCabe, Staff Annie Sheehan-Kerber EDA Purpose: (Bylaws) The business of the Economic Development Authority shall include but not be limited to promoting growth, development and redevelopment of retail, commercial and industrial properties in Prior Lake; diversifying the City’s tax base; providing tools and incentives to achieve the Economic and Community Development Vision Element in the City‘s 2040 Vision and Strategic Plan; and providing an incubator to generate ideas and initiatives to support economic growth and vitality. EDA Meetings:  Regular meetings held on the third Monday of each month  Ten meetings were held in 2015 EDA 2015 Budget:  $123,225 Personnel Services  $58,200 Operational Expenses ($27,650 for Technology Village)  $181,425 Total Budget Summary of 2015 EDA Actions:  Elected Officers for 2015  Reviewed and Accepted the Downtown Parking Analysis completed by SRF Consulting and Began Implementing the Study Recommendations  Attended Downtown Parking Study Open House  Approved Amendments to EDA, EDAC and Technology Village Bylaws  Developed the First Annual City of Prior Lake Annual Business Incentives Report and Presented the Report to the City Council  Approval of Preliminary Yearend Financial Report  Filled a Vacant Economic Development Authority Position 2 | P a g e  Appoint a Technology Village Board of Director Liaison  Supported the Dominium Redevelopment Senior Housing Public Financing Project  Created a Targeted Commercial Assistance Program to Support Retention of Existing Gateway Center Businesses  Completed the Prior Lake EDA 2014 Annual Report and Presented to City Council  Recommended Support of the Ron Clark Housing Development Public Financing Request  Received a Scott County CDA 2015 Economic Development Incentive Grant for Technology Village Phase III Analysis  Developed an RFP for the Technology Village Phase III Study and Hired Greenwood Consulting Group to Complete the Study  Supported C-2, General Business Use District Ordinance Amendments  Approved the Prior Lake Economic Development Authority 2015 Business Plan  Received a RiverSouth Marketing Presentation  Received and Discussed Monthly Commercial and Industrial Development Updates  Received Updates from the Economic Development Advisory Committee  Received Updates from the Technology Village Business Accelerator Board of Directors  Supported the EDAC with the 2015 Prior Lake Business Mixer Event at The Wilds  Provided Recommendations to the City Council Related to the Jeffers Pond PUD Commercial Development Application  Received a Report from Stacy Crakes, Business Development Manager, with Scott County First Stop Shop  Held a Joint EDA/EDAC Discussion  Adopted a Resolution to Approve the Proposed 2016 EDA Tax Levy and Budget  Received an Update of the Prior Lake Business Mixer Comments  Submitted a Request to MVTA to Evaluate Alternate Downtown Bus Stop Locations  Adopted EDA 2015 Accomplishments & 2016 Goals  Appointed EDAC Members  Appointed Technology Village Board of Director Members  Approved the Technology Village Phase II.3 Business Plan  Review and Approval of Advisory Committee 2015 Accomplishments and 2016 Goals Summary of Development Activity:  Commercial/Industrial Building Permit Value (from City Reports): Year New Add/Alter Total Tax Exempt $ / % 2011 $0 $839,900 $839,900 $154,000 / 18% 2012 $1,094,000 632,300 $1,726,300 $33,000 / 2% 2013 $930,000 $2,701,700 $3,631,700 $95,000 / 3% 2014 $85,000 $3,497,000 $3,582,000 $771,000 / 22% 2015 $3,742,000 $958,800 $4,700,800 $36,000 / 1% 3 | P a g e  Commercial/Industrial Market Value (from Scott County Assessor):  2011 = $128.9 million (4.9% of total)  2012 = $126.3 million (5.0% of total)  2013 = $127.0 million (4.9% of total)  2014 = $134.9 million (4.1% of total)  2015 = $136.3 million (3.9% of total)  Prior Lake Employment Levels (from DEED, 3rd Quarter QCEW Reports):  2011 = 7,642 (Leisure & Hospitality = 3,730 or 48.8%)  2012 = 7,807 (Leisure & Hospitality = 3,733 or 47.8%)  2013 = 7,965 (Leisure & Hospitality = 3,730 or 46.8%)  2014 = 8,098 (Leisure & Hospitality = 3,699 or 45.7%)  2015 = 7,982 (Leisure & Hospitality = 3,523 or 44.1%)  Prior Lake Business Establishments (from DEED, 3rd Quarter QCEW Reports):  2011 = 555  2012 = 529  2013 = 534  2014 = 528  2015 = 497 4 | P a g e 2015 Commercial/Industrial Activity This list was compiled based on a review of 2015 signage and commercial building permits and other sources. This may not be a complete list of all commercial/industrial acquisition, new business and relocation activity. Business Name Address Type (New/Relocation/Expansion) etaKnowledge (Technology Village)4646 Dakota St. SE New Business iWMS Americas (Technology Village)4646 Dakota St. SE New Business Michael Beach Coaching & Consulting 4719 Park Nicollet Ave. SE, Ste. 210 New Business design a tivity 4769 Dakota Street SE Relocated Business Versatile Vehicles 16450 Anna Trl. SE New Business Cross Fit Prior Lake 16535 Anna Trail SE New Business Charlie's Port on Prior 3950 Green Heights Trl. SW New Construction Source Machine 16801 Industrial Cir. SE New Business Mary's Angels Daycare 14180 Commerce Ave. NE New Business Schoenberger Drywall, Inc. 17180 Adelmann St. SE Relocated Business eCig Store 16731 Hwy 13 S, Ste. 112 New Business Auto Repair Business (Vitaliy Tereshkov)16720 Welcome Ave. SE New Construction UPS Store 14033 Commerce Ave. NE, Ste. 300 New Business Center Stage Dance Studio 4385 Fountain Hills Drive NE Expansion International Motion Supply 14120 Commerce Ave. NE New Business Prior Lake Spine 15815 Franklin Trl. SE, Ste 100 Relocated Business W Social Fit 16180 Hastings Ave. SE New Business Bodies in Motion 16189 Main Ave. SE New Business Kwik Trip 16751 Fish Point Rd. SE New Construction Local Vibe LLC (Technology Village)4646 Dakota St. SE Expansion Pizza & Pasta 15875 Franklin Trl. SE Relocated Business Lifestyle Counseling Services 14162 Commerce Ave. NE, Ste. 400 New Business GCS Title Co. 4719 Park Nicollet Ave. SE, Ste. 270 New Business Edward Jones 5116 Gateway Street SE, Ste 203 Expansion Finder's Fee 4775 Dakota St. SE New Business NMS Mechanical 15981 Jordan Ave. SE New Business