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HomeMy WebLinkAbout10 08 2018 EDA Agenda Packet FULL Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY AGENDA Monday, October 8, 2018 – 4:00 p.m. Reports included with this agenda can be found in the Document Center at www.cityofpriorlake.com; please follow this file path: City of Prior Lake/Economic Development Authority/2018/October 8, 2018 1. CALL TO ORDER 2. APPROVAL OF AGENDA 3. APPROVAL OF MEETING MINUTES A. September 10, 2018 4. CONSENT AGENDA A. Development Update (09/30/2018) B. Advisory Committee Appointments - Business Engagement Committee 5. REMOVED CONSENT AGENDA ITEMS 6. PRESENTATIONS A. Nuvera Fiber Network 7. PUBLIC HEARINGS A. No Public Hearings Scheduled 8. OLD BUSINESS A. None 9. NEW BUSINESS A. Storefront Improvement Program Request B. EDA 2018 Accomplishments and 2019 Goals 10. OTHER BUSINESS A. Staff Updates B. Commissioner Comments C. Construction Projects Business Impact Game Plan 11. ADJOURNMENT: 6:00 p.m. Those items on the EDA Agenda which are considered routine and non-controversial are included as part of the Consent Agenda. Unless the President or an EDA member specifically requests that an item be on the Consent Agenda be removed and considered separately, Items on the Consent Agenda are considered under one motion, second and a roll call vote. Any item removed from the Consent Agenda shall be placed on the EDA agenda under “Removed Consent Agenda Items” Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes September 10, 2018 1. CALL TO ORDER PRESIDENT CHROMY called the meeting to order at 4:00 p.m. Present were Chromy, Sheehan-Kerber and Briggs. Also present were Executive Director Boyles, Community Development Director McCabe, Planner Schwabe, Dan Stanley and Larry Raasch. 2. APPROVAL OF AGENDA MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER, TO APPROVE THE AGENDA. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. 3. APPROVAL OF MEETING MINUTES A. August 13, 2018 MOTION BY SHEEHAN-KERBER, SECONDED BY BRIGGS, TO APPROVE THE AUGUST 13, 2018 MEET- ING MINUTES AS WRITTEN. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. 4. CONSENT AGENDA A. Development Update (08/31/2018) MOTION BY BRIGGS, SECONDED BY CHROMY, TO APPROVE THE CONSENT AGENDA. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. 5. REMOVED CONSENT AGENDA ITEMS None 6. PRESENTATIONS None 7. PUBLIC HEARING No Public Hearings 8. OLD BUSINESS A. Development Assistance Request MCCABE introduced Dan Stanley and Larry Raasch, on behalf of the property owner, SR Property Development LLC. He explained that the representatives attended the August 13, 2018 EDA meeting to request financial assistance for construction of a retaining wall and soil correction costs. After discussing the request, the EDA requested this item be continued to their next meeting. MCCABE updated members that since the last meeting, Stanley and Raasch have revised their request to include retaining wall or soil correction costs. SHEEHAN-KERBER questioned if soil remediation was necessary on the neighboring parcels in the Deerfield Business Park. STANLEY shared that the subject parcel is adjacent to the wet area, whereas the other parcels were not, therefore they required minimal soil corrections. 2 CHROMY questioned if trees would need to be removed as part of this project. STANLEY stated that they received a Variance to move the building closer to the road in an effort to preserve trees. BRIGGS questioned what fraction of the estimate is for the retaining wall. MCCABE stated that the soils corrections estimate is $37,131 ($24,888 in the building pad and $12,243 elsewhere on the lot) and that the retaining wall costs are above and beyond that figure. CHROMY shared that assistance for soil remediation may be appropriate. BRIGGS stated that financial assistance for soil corrections with a not to exceed amount may be an item that the EDA would consider. MCCABE stated that Commissioner Braid contacted him earlier in the day since he was not able to attend the meeting. Mr. Braid indicated a minimal amount of financial support for soil corrections and encouraged the EDA to specify timeframes for the project to be completed if they chose to provide financial assistance. STANLEY stated that they would like to begin construction yet this fall; although, next spring is a possibility. BOYLES shared that the EDA has the option to place a work completion deadline on the soil corrections if they choose. BRIGGS questioned a reasonable deadline for work completion in 2019. STANLEY explained that due to road restrictions, they work would likely not be able to commence with major construction until May. MCCABE questioned when the EDA would be comfortable with making payment. BOYLES suggested issuing payment after the issuance of a Certificate of Occupancy. MCCABE stated that fees would be collected at the time of Building Permit issuance which provides assurance as to the commitment to the project. CHROMY stated that another option would be to issue 50% of the assistance at the beginning of the project and 50% at the issuance of the Certificate of Occupancy. STANLEY proposed partial payment upon completion of the soil correction work and the remainder of the assis- tance at the issuance of a Certificate of Occupancy. MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER TO APPROVE A RESOLUTION APPROVING FI- NANCIAL ASSISTANCE FROM THE EDA SPECIAL REVENUE FUND FOR ACTUAL AMOUNT OF SOIL COR- RECTION COSTS, NOT TO EXCEED $37,131, WITH 50% OF COSTS TO BE PROVIDED AT THE COMPLE- TION OF SOIL CORRECTION WORK AND THE REMAINING 50% OF COSTS TO BE PROVIDED UPON IS- SUANCE OF A CERTIFICATE OF OCCUPANCY AT 17098 ADELMANN STREET SE IF CERTIFICATE OF OCCUPANCY IS ISSUED ON OR BEFORE DECEMBER 31, 2019. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. 3 9. NEW BUSINESS A. Resolution to Approve the Proposed 2019 EDA Tax Levy and Budget MCCABE provided an overview of th 2018 budget and proposed draft 2019 budget. MCCABE shared that Commissioner Braid is in support of increasing the EDA Levy from $140,000 to $150,000 in an effort to build reserve funds. BRIGGS stated that he would support elevating the EDA levy. SHEEHAN-KERBER questioned if this is for one year or for future years. MCCABE clarified that this is for one year. He shared that a large portion of the levy is for 50% personnel support for the Community Development Director and City Planner positions. SHEEHAN-KERBER stated that an increase of $10,000 is a fiscally responsible action. Discussion ensued regarding revenues and expenditures, Scott County First Stop Shop, and Technology Village. MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER TO APPROVE A RESOLUTION APPROVING THE 2019 EDA TAX LEVY OF $150,000 AND EDA BUDGET OF $150,227. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. 10. OTHER BUSINESS A. Staff Updates SCHWABE shared that Staff has engaged Designwrite Studios, LLC to develop the Economic Development web- site and that a subcommittee has been created from the BEC to develop content for the site. Staff is anticipating completion of the website at the end of October. BRIGGS stated that aerial photography of the community obtained from a drone fly-over would be a great addition to the website. MCCABE shared an overview of recent commercial activity in Prior Lake. B. Commissioner Comments CHROMY shared that Mike McGuire and he had a nice meeting with representatives of the VFW to discuss potential downtown redevelopment opportunities. BRIGGS stated that continuing to support those engaged in conversations with potential redevelopment opportu- nities would be important. SHEEHAN-KERBER stated that the collaborative, brain-storming approach that was used was the right approach for the discussion. Discussion ensued. The EDA directed Staff to and Chromy to continue discussions with downtown property owners about future re- development options and potentially identify acquisition opportunities for the EDA to consider. 4 CHROMY suggested EDA Members, City Councilor’s and Advisory Committee members should feel encouraged to attend Open Houses and Ribbon Cuttings when the opportunity occurs. MCCABE shared that he requested the Chamber of Commerce include the members of the City Council, EDA and BEC on their newsletter distribution so all are aware of these types of events. BRIGSS suggested the EDA consider fiber optic connections in certain developments as an effort to attract and retain businesses suggesting the possibility of public/private partnerships as a differentiator. SHEEHAN-KERBER questioned where in Prior Lake fiber currently exists. BOYLES explained the locations of existing fiber in the community. BOYLES suggested inviting Nuvera (formerly Integra) and Mediacom to a future EDA meeting to discuss fiber within our community and future opportunities. The EDA directed Staff to contact Nuvera and Mediacom and invite them to attend future EDA meetings to discuss fiber and review our current fiber coverage. C. Construction Projects Business Impact Game Plan MCCABE shared that the City is working with Scott County and the Methodist Church regarding right -of-way acquisition related to the CSAH 21/TH 13 improvement project. BRIGGS stated that he attended a ribbon cutting and open house at Blahnik Law Office last week and they were very gracious hosts. 11. ADJOURNMENT MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER TO ADJOURN THE MEETING. With all in favor, the meeting adjourned at 5:19 p.m. Ayes by Chromy, Sheehan-Kerber and Briggs. The motion carried 3-0. ___________________________ Frank Boyles, Executive Director 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: October 8, 2018 AGENDA #: 4A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: DEVELOPMENT UPDATE DISCUSSION: Introduction The purpose of this consent agenda item is to review the residential and com- mercial development update as of September 30, 2018. History EDA Commissioners requested an update of residential and commercial activity at each meeting. Conclusion The attached memorandum provides a summary of residential and commercial development in the City of Prior Lake. ALTERNATIVES: RECOMMENDED MOTION ATTACHMENT: 1. Motion and a second, under the consent agenda, to accept the development update. 2. Remove this item from the consent agenda for additional discussion. Alternative No. 1. 1. Development Update Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com Memo Date: October 2, 2018 To: City of Prior Lake Economic Development Authority From: Casey McCabe, Community Development Director Subject: Residential & Commercial Activity Update Below is an update of residential and commercial development in the City of Prior Lake as of Sept. 30, 2018. Number of Permits Declared Value Number of Permits Declared Value Number of Permits % Increase / (% Decrease) Declared Value % Increase / (% Decrease) Single Family Dwellings 85 $29,656,137.00 58 $19,416,000.00 46.60 52.74 Townhouses (# units)57 $9,422,741.00 0 $0.00 5700.00 ### Multiple Units 0 $0.00 1 $8,787,000.00 (100.00)### New Commercial Industrial & Commercial 1 $1,600,000.00 9 $10,750,500.00 (88.89)(85.12) Residential 692 $5,780,661.00 303 $2,065,300.00 128.38 179.89 Industrial & Commercial 24 $7,715,030.00 14 $1,015,500.00 71.43 659.73 ⧫Mechanical 526 $0.00 556 $0.00 (5.40)n/a ⧫⧫Mechanical (SF & TH)568 $0.00 232 $0.00 144.83 n/a TOTALS 1953 $54,174,569.00 1173 $42,034,300.00 66.50 28.88 t Mechanical permits include but are not limited to furnaces, water heaters, softeners, and fireplaces. They are flat-rate permit fees. Increase / (Decrease)2018 Year to Date 2017 Year to Date New Residential Additions and Alterations tt Mechanical (SF & TH) permits include required plumbing, heating, sewer and water and fireplace permits for new single family residences They are flat-rate permit fees 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: October 8, 2018 AGENDA #: 4B PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: ADVISORY COMMITTEE APPOINTMENTS – BUSINESS ENGAGEMENT COMMITTEE DISCUSSION: Introduction The purpose of this agenda item is to consider the screening committee’s recommendation for appointments to the Business Engagement Committee (BEC). History Section 203. Appointment, of the BEC Bylaws states, The Committee shall consist of no more than thirteen (13) members appointed by the Economic Development Authority. Said mem- bers shall consist of residents and non-residents affiliated with a business located within the City of Prior Lake as may be determined by the Economic Development Authority. No more than 40% of the Committee shall be non-residents. Committee members shall serve for a term of three (3) years commencing on November 1 and concluding on October 31. Current Circumstances A notice of advisory committee vacancies was published in the Prior Lake American and posted on the City website. Four applications were received for the BEC; from Tom Driscoll, Stephanie Carroll (reappointment), Wade Larson (reappointment) and Thane Tande (reap- pointment). The applications of each are attached. Mr. Driscoll was interviewed by the BEC screening committee, which included Executive Di- rector Boyles, EDA Liaison to the BEC Briggs and Community Development Director McCabe. The sitting members of the BEC were not interviewed by the screening committee as the city staff liaison, BEC Chair and EDA liaison to the BEC did not feel an interview was necessary because all have committed to fulfill the four requirements of advisory committee members and were supported for reappointment by the screening committee. The BEC currently has eight appointed members, not including Kirt Briggs (EDA liaison) or Sandi Fleck (Chamber of Commerce liaison). Approval of the appointments requested will increase the BEC membership to nine appointed members. Conclusion The screening committee and city staff are recommending the appointments of Stephanie Carroll, Thane Tande, Wade Larson, Tommy Hesch and Tom Driscoll to the BEC. 2 ISSUES: Tommy Hesch joined the BEC as a student representative in June 2018. The attached reso- lution also includes the formal appointment of Mr. Hesch to the BEC. The EDA may accept or reject the recommendation of the screening committee. FINANCIAL IMPACT: BEC members serve without compensation. ALTERNATIVES: 1. Motion and a second, under the Consent Agenda, to approve a resolution appointing Stephanie Carroll, Thane Tande, Wade Larson, Tommy Hesch and Tom Driscoll to the BEC for a term of November 1, 2018 to October 31, 2021. 2. Remove this item from the consent agenda for additional discussion. RECOMMENDED MOTION: Alternative #1 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 18-03 EDA A RESOLUTION APPOINTING MEMBERS TO THE BUSINESS ENGAGEMENT COMMITTEE Motion By: Second By: WHEREAS, Vacancies exist on the Business Engagement Committee as of October 31, 2018; and WHEREAS, Applications were solicited from others in the community who are interested; and WHEREAS, Notice of such vacancies were placed in the Prior Lake American and City Website; and WHEREAS, Applications were received and interviews conducted. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. That the following individuals are appointed to fill the following terms: Appointee Date Appointed End of this Appointment Term Limit Stephanie Carroll November 1, 2018 October 31, 2021 October 31, 2024 Thane Tande November 1, 2018 October 31, 2021 October 31, 2021 Wade Larson November 1, 2018 October 31, 2021 October 31, 2021 Tom Driscoll November 1, 2018 October 31, 2021 October 31, 2027 Tommy Hesch November 1, 2018 October 31, 2021 October 31, 2027 PASSED AND ADOPTED THIS 8th DAY OF OCTOBER 2018. VOTE Chromy Braid Sheehan- Kerber Briggs Boucher- Hoese Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ ______________________________ Frank Boyles, Executive Director 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: October 8, 2018 AGENDA #: 9A PREPARED BY: PRESENTED BY: Casey McCabe, Community Development Director Casey McCabe AGENDA ITEM: STOREFRONT IMPROVEMENT PROGRAM REQUEST DISCUSSION: Introduction The purpose of this agenda item is to discuss if the EDA wishes to establish a Commercial Storefront Improvement Program or provide funding for an individ- ual storefront improvement project. History Earlier this year, the EDA Enabling Resolution was amended by the City Council to include language which allows the EDA to utilize EDA Special Revenue Funds to facilitate economic development initiatives identified in the EDA Business Plan. The adopted EDA Business Plan identifies how additional funding could be used to achieve a greater economic development impact in the community through economic development initiatives proposed by the EDA. Funds from the EDA Special Revenue Fund may be used by the EDA to accom- plish the following economic development initiatives: i) property acquisition; ii) storefront rehabilitation; iii) direction and promotional signage, such as banner poles visitor kiosks or wayfinding signage; iv) economic development and rede- velopment loans and incentives; v) new business attraction through website en- hancements and marketing; vi) efforts to facilitate commercial development and redevelopment; and vii) enhancing the character of commercial areas. Current Circumstances City staff received a request for assistance with a storefront façade project at 16309 Main Avenue SE (Dingman Auto Body). The proposed project would in- clude new storefront windows and customer door, new overhead doors, new awning and a panel to cover the south and east (rear) building walls; the total project cost is estimated at $50,000. Conclusion In the early to mid-2000’s, the City of Prior Lake assisted with approximately 12 storefront improvement loans in the downtown area. City staff has received a few requests for storefront assistance over the last two years and staff informed those business owners that city assistance was not available. If the EDA elects to reinitiate a storefront improvement program, the EDA should provide direction to staff related to marketing of the program, funding source and amount, as well as refinement of the program guidelines. 2 Attached to this report are draft Commercial Storefront Improvement Program guidelines prepared by staff for EDA review and discussion. ISSUES: If the EDA wishes to pursue this program, the Authority should discuss any ad- ditional eligibility criteria that should be included. For example, the property in question is considered a legal non-conforming use in the Town Center use dis- trict, as the current use of the property no longer complies with the permitted uses in the zoning district. While the EDA desires to support improvements to area business facades, it may not seem prudent to do so where the business use is non-conforming. There is also the question of improvements other businesses have made to their storefront (e.g. Boathouse Brothers) without asking for EDA assistance. Any rei- nitiation of this program is likely to trigger this question. The EDA should also consider whether the program is focused only on the down- town area or if other commercially zoned areas should be eligible. If a program is to be reinitiated, it seems only fair that the guidelines be update and generally marketed and distributed so that all businesses meeting the pro- gram guidelines within the program area have the opportunity to participate. This information will also help the EDA to know what budget amount should be set aside for this purpose. FINANCIAL IMPACT: The EDA Special Revenue Fund has an estimated fund balance of $475,000; approximately $100,000 of this fund balance should be retained for cash flow purposes. ALTERNATIVES: 1. Motion and second providing direction to staff related to the creation of a Storefront Improvement Program. 2. Continue discussion at a future meeting. RECOMMENDED MOTION: ATTACHMENT: Alternative #1 1. Draft Storefront Improvement Program Guidelines for Discussion 4646 Dakota Street SE Prior Lake, MN 55372 City of Prior Lake Commercial Storefront Improvement Program (SIP) (FOR DISCUSSION ONLY) This commercial rehabilitation program has been designed to provide financial assistance for the storefront rehabilitation of commercial buildings in Prior Lake’s TC, Town Center Use District. Storefront Improvement Program (SIP) Deferred Loan ➢ Covers 50% of the rehab expenses up to a maximum loan amount of $25,000 per building. This will be 0% interest loan with deferred payments for a period of 10-years. The loan is secured with a mortgage of the property and caries a due-on-sale or transfer clause, which means all unpaid principal shall become due and payable prior to any sale or transfer of ownership of the premises or prior to any refinance of the premises within the 10-year commitment period unless written consent is provided by the City of Prior Lake. If the property ownership does not change during the 10-year commitment period, the loan is forgiven. Storefront Improvement Program Direct Loan [OPTIONAL] ➢ Covers 20% of the rehab expenses up to a maximum loan amount of $10,000 per building. This is a 2.0% interest loan repaid to the City of Prior Lake in equal monthly installments over a period of 10-years. The loan is secured with a mortgage of the property and carries a 10-year due-on-sale or transfer clause, which means all unpaid principal and interest (if any) shall be- come due and payable prior to any sale or transfer of ownership of the premises or prior to any refinance of the premises within the 10-year commitment period unless written consent is pro- vided by the City of Prior Lake. Remaining Project Costs ➢ All remaining project costs are to be financed through sources other than the City of Prior Lake, such as owner cash contributions or conventional financing. 2 SIP Facts Property Owners Should Know ➢ Only improvements identified by the Rehabilitation Advisor as eligible and/or necessary will be eligible project costs. ➢ The most SIP funding you may receive is $25,000 per property (plus a maximum of $10,000 SIP direct loan; the minimum SIP funding amount is $5,000. ➢ You will be required to pay the matching fund requirement before construction begins. ➢ If you sell your property within 10-years, the remaining principal loan amount must be repaid to the City of Prior Lake. If you do not sell your property within 10-years, the deferred loan is forgiven. ➢ Program participation is based on first come, first served. ➢ The rehab work must be completed within 90 days from the date the loan agreements are signed. ➢ Inspectors from the City of Prior Lake will conduct the initial inspection, provide a scope of work and bid packet. ➢ If you do your own work, the SIP funds will cover the cost of materials only. ➢ No SIP or City of Prior Lake loan funds will be paid out until the entire project is completed. ➢ Your property taxes, mortgage payments and property insurance must be current at the time of application. ➢ The SIP applicant must own the property to be improved. ➢ The SIP loan will be secured with a mortgage on the property to be improved. The assessed market value of the property must be of enough to provide the City of Prior Lake with adequate loan security. ➢ Rehabilitation activities must comply with the City of Prior Lake Downtown Design Guidelines. ➢ If a building permit is required for the work, it must be secured before work is initiated and concluded by C.O. before program funds are dispersed to the eligible party.. Eligible Commercial Rehabilitation Improvements Each commercial rehabilitation improvements must be physically attached to the property and must be a permanent general improvement. Such improvements shall include alteration, renovation, or repairs which correct defects and deficiencies which directly affect the safety, habitability, energy consumption, or aesthetics of the property. For the purposes of commercial rehabilitation assistance under the SIP Program, only the following types of improvements are eligible: • Correction of code violation • Exterior improvements • Energy related improvements • Accessibility improvements Ineligible Commercial Rehabilitation Improvements The following improvements are not eligible for financing with SIP funds: • Repairs which do not correct code violations, do not constitute exterior improvements, or are not energy related or accessibility improvements • New construction or additions to buildings • Improvements which are limited solely to roof repairs • The payment, in whole or in part, of assessments for public improvements • Driveways and sidewalks • 200-amp services • Unnecessary or ineligible improvements as identified by the Rehabilitation Advisor in his/her sole discre- tion. 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: October 8, 2018 AGENDA #: 9B PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: EDA 2018 ACCOMPLISHMENTS AND 2019 GOALS DISCUSSION: Introduction The City Council has invited all advisory committee members to a City Council work session on Monday, November 19th at 5:00 p.m. The purpose of the work session is to allow all advisory committees an opportunity to present the City Council with a report of 2018 accomplishments and 2019 goals. The work ses- sion also provides an opportunity for advisory committees to hear accomplish- ments from other committees as well as what the other committees will be work- ing on in 2019 to determine if there are any collaboration opportunities. History The EDA has previously provided similar annual reports to the City Council. The City Council has asked that all committees provide three accomplishments for 2018 and three goals for 2019. Conclusion Below are the 2018 EDA Goals. Staff has proposed 2018 accomplishments and 2019 goals for EDA review and discussion. Members should discuss the accom- plishments and goals below and amend or substitute additional topics as desired. 2018 EDA Goals ➢ Work with downtown stakeholders (residents, current and potential business owners, etc.) toward an integrated construction and financing plan for streetscaping and building construction/remodeling to maintain and encour- age the economic vitality of downtown businesses through the TH13/CR21 intersection improvement project and facilitate future downtown development. ➢ Establish a process and plan to target resources for economic opportunities that provide significant benefits to Prior Lake, including those that may include property acquisition and direct support to commercial and industrial develop- ment. ➢ Continue to guide the Business Engagement Committee and support the Technology Village Board of Directors as they implement the recommenda- tions of the phase II.5 Technology Village Business Accelerator Plan, includ- ing expansion opportunities within Scott County. ➢ Explore opportunities to identify, assist and encourage commercial and indus- trial development along the CH21 and CH42 commercial corridors. ➢ Conduct an annual meeting with the Scott County CDA First Stop Shop, the Prior Lake City Council, the Prior Lake Planning Commission and Technology Village Board of Directors as well as quarterly joint meetings with the Business Engagement Committee to promote partnerships and collaboration. 2 Economic Development Authority (EDA) – 2018 Accomplishments (Pro- posed) ➢ The EDA developed the 2018 EDA Business Plan which identifies how addi- tional funding will be used to achieve a greater economic development impact in the community through identified economic development initiatives. ➢ Worked with the City Council to amend the EDA Enabling Resolution to in- clude language which allows the EDA to utilize EDA Special Revenue Funds to facilitate economic development initiatives identified in the EDA Business Plan. ➢ Held joint meetings with the City Council, Business Engagement Committee and Scott County First Stop Shop to promote partnerships and collaboration. ➢ Reviewed and commented on the 2040 Land Use Plan as part of the 2040 Comprehensive Plan Update. ➢ Assisted commercial development and redevelopment projects by providing limited funding to support utility relocation, electrical and soil correction costs. ➢ Reviewed and recommended approval of two requests for annexation of needed commercial and business park property. Economic Development Authority (EDA) – 2019 Goals (Proposed) ➢ Utilize EDA Special Revenue Funds appropriately to accomplish the ap- proved economic development initiatives. ➢ Continue to guide the Business Engagement Committee and support the Technology Village Board of Directors. ➢ Continue to build upon the positive momentum by encouraging additional downtown development and redevelopment opportunities. ➢ Establish a process and plan to target resources for economic opportunities that provide significant benefits to Prior Lake, including those that may include property acquisition and direct support to commercial and industrial develop- ment. ➢ Conduct an annual meeting with the Scott County CDA First Stop Shop, City Council, Planning Commission, EDA and Technology Village BOD to identi- fying reciprocal goals. ISSUES: EDA members should identify accomplishments for 2018, goals for 2019, discuss what information should be included in the presentation and which member(s) of the EDA are available to attend and present the information at the November 19th meeting. The EDA is generally limited to three accomplishments and three goals. The presentation at the work session will need to be no longer than ten minutes. FINANCIAL IMPACT: ALTERNATIVES: RECOMMENDED MOTION Some of the EDA goals may have financial impacts in 2019. 1. Motion and a second to approve the EDA 2018 accomplishments and 2019 goals as proposed or as amended by the EDA. 2. Provide direction to staff and finalize the EDA accomplishments and goals at the November 12, 2018 EDA meeting. Alternative No. 1 1. 3