The URL can be used to link to this page

Home My WebLink About7C - Economic Dev. Report 16200 Eagle Creek Avenue S.E. Prior Lake, MN 55372-1714 MEETING DATE: AGENDA #: PREPARED BY: CITY COUNCIL AGENDA REPORT May 15, 2006 ~ 7C ~ Frank Boyles, City Manag AGENDA ITEM: ECONOMIC DEVELOPMENT REPORT PRESENTATION: I have asked Economic Development Director Paul Snook to share a report with the City Council and viewing public regarding economic development activities presently underway and contemplated. www.cityofpriorlake.com 1:\COU~~C!L\AGNRPTS\2006\051506Pi'r8flf)~5~.~:4'~ / Fax 952.447.4245 ECONOMIC DEVELOPMENT ACTIVITY DOWNTOWN STATUS I NEXT STEPS REDEVELOPMENT TIF Dist 5-1- Premiere Dance Academy . Development Agreement to go forward, may have to adjust TIF amount based on soils conditions; currently doing Phase I for potential contamination (diesel fuel) cleanup . Issuance of TIF note contingent on PDA - County Agreement re fill DT Parking . Met wI businesses to gain input . Update from Bonestroo based on current development and future need I potential development . Ongoing communication w/businesses Design Guidelines . Update I strengthen wi regard to traditional DT design so there is clarity . Critical in light of heightened interest in DT redevelopment . Create better Illustrated guidelines (like Wayzata, Hopkins, Boulder, CO, etc) Rock Creek Building . Contact: Dan Schaefer of Rock Creek Design 952-447-0955 . Numerous referrals I leads: real estate office; specialty wine shop (signed); coffee shop; barber shop . List on MnPRO . Listed w!Welsh Co's Block 2 Redevelopment (bounded by Prepare RFP to redevelop entire block, to include VFW in future Pleasant, Main Ave and Colorado St) development Joe' Pizza - . City owns MN Nails - . Bob Facente I PL State Bank (mortgage holder) will facilitate mtg between City and property owner; important to build relationship first, then make offer . Potential to make offer higher than appraised value for reason that this is key property for DT redevelopment as guided by City's Vision I Strategic Plan VFW- . VFW interested in being part of redevelopment . Met wi Mayor and VFW reps re expansion I retention . Richfield: City Bella Redevelopment (66th & Lyndale) retained VFW - rec'd development agreement - need to follow up w/Bruce Palmborg-CD Director (612)861-9760 Sebastian Auto IICO - . Contact: Dick Haugh (Sebastians) . Owned by Inter City Oil of America (based in Duluth); interested in offer from City . Areas as possibility to relocate to... fragment parcels (near Mc~unty Marne!... if McDonald's doesn't develop) . Use . g Road land assembly for relocation; use Wilson Dev. Svc or relocation 5/15/2006 ECONOMIC DEVELOPMENT ACTIVITY; Page 1 of 4 / ( / / 5/15/2006 Block 4 Redevelopment (boul) Dakota, Main, CR 21 and Ere) Duluth Ave I West Ave Library Annex lease ECONOMIC DEVELOPMENT ACTIVITY; Page 2 of 4 . V~ry preliminary interest from developer; curre~ly ~~g~J@til'l~ w!th ~roperty owners._____-. '\- . SlgmficantTedevelopment of entire block (exce~Y Spelker Bldg) with 2-3 story office I retail, and parking ~cture Attemting to attain in writing the vision from 2eveloper; details of proposed project; how fits with City's ~30 VSP; what private and publ~c ~rti~ipatiQnJNouldbe, etc. Interested developer: Higher Ground Group, Inc. (Sean Van Marter) Potential mixed use bldg I bldgs, with potential for additional acquisition to the east; tie to DT Presented conce ts to DRC; need more details incl elevations City Council workshop; potential senior adult day center; contact wi Ebenezer YMCA interested In ~-3 years or maybe longer; toured; would go in right after PDA vacates . . . . . . . GENERAL ECONOMIC STATUS I NEXT STEPS DEVELOPMENT Presbyterian Homes I Shep's Path . Application for TIF for affordable senior housing . Conduit bonds (to gain more favorable int rate) . Start TIF review process . TIF and Conduit Bond Schedule; public hearing for TIF 6/26; public hearing for C-Bond 6/5. - Business Retention and Expansion . Potential to use UM BRE Program; Synchronist Business Information System (from Blane, Canada Ltd.) Deerfield Business Park . List on MnPRO . Lehrer Dev is listing on MNCAR Borka Property . Interest: Lien Electric; Watkins Chiropractic; upscale restaurant . Upscale Restaurant potential I combine wI Park Nicollet property . Opportunity for owner to make asking price more attractive and within the market Former T J Towing Property . Contact: Dan O'Keefe . Purchase of adjacent Park Nicollet property . Bank potential as an anchor (Newmarket Bank); other office . 21,000 SF . Extend deadline for development agreement Jeffers Pond Commercial . Leads I referrals . Mav develop commercial sooner than anticipated 5/15/2006 ECONOMIC DEVELOPMENT ACTIVITY; Page 3 of 4 Ring Road - Fragment Parcel . Working with Dan Wilson (Wilson Dev Svcs) to assemble Development . Key part is Radermacher's Outlot D south of Mc Donald's . Potential for McD's expansion w/c-store and other commercial on Outlot D Community Profile I MnPRO - DEED . Update Community Info (ongoing) . Update Property Info (ongoing) Business Subsidy Policy and TIF Policy . Streamline I simplify wi all ED finance policies and applications folded into Business Subsidy Policy Market Analysis I McComb Group . Update . Attain CD version to be able to provide business prospects NEW BUSINESS I EXPANSION STATUS I NEXT STEPS LEADS Mainframe Computer Remanufacturer . Lead from Dan Schaefer (612) 919-1137 cel . Site: Deerfiled Bus Pk; 4 lots west oflacross street from Paws N Pals (side street) . 35 jobs - management I office I production -c--.. Lead: Rod Boone: interested in Radermacher's County Mkt Bowling Facility . bldg and adjacent vacant land signed for sale . Contact for County Market: Steve Radermacher County Market Building . Contact for County Market: Steve Radermacher . Sent letter; multiple follow-up calls with no response to letter . Apparently working with developer EM Products . Lack of space Igrowth necessitates outdoor storage; applying I for permit for screening I fence as a temporary solution . Company is growing I expanding; Board of Dir approved , expansion; consolidating Winnipeg facility to Minnesota; currently 40 employees in PL, would double to 80 with expansion . PL lease expires in 2yrs . Currently 30,000 SF in PL; can't expand current location; need a bldg of 70 - 80,000 SF . Currently searching for new location, land or an existing building; Deerfield a real possibility . Would like to stay in PL because of proximity and quality of workforce . Possible candidate for MN Dept of ED I Minnesota Investment Fund . Contact: Kirk Nelson (952) 226-8108 Watkins Chiropractic . Potentially at Borka Bldg wi Partners (office condo) Book Store (2 different leads) . (Olson) In business 15 yrs in another community; prefer DT location . (Born et al) prefer DT location; also education training 5/15/2006 ECONOMIC DEVELOPMENT ACTIVITY; Page 4 of 4 Specialty Wine Shop . Signed to Rock Creek Building Real Estate Office . Expand to DT location (Rock Creek); currently in Mtka . Specialize in lakefront property