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HomeMy WebLinkAbout05 13 2019 EDA Minutes Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes May 13, 2019 1. CALL TO ORDER VICE PRESIDENT BOUCHER-HOESE called the meeting to order at 4:00 p.m. Present were Boucher-Hoese, Sheehan-Kerber, Braid and Briggs. Also present were Executive Director Plante, Community Development Director McCabe and Planner Schwabe. 2. APPROVAL OF AGENDA MOTION BY BRAID, SECONDED BY SHEEHAN-KERBER, TO APPROVE THE AGENDA. Ayes by Boucher- Hoese, Braid, and Sheehan-Kerber. The motion carried 3-0. 3. APPROVAL OF MEETING MINUTES A. March 11, 2019 MOTION BY BRAID, SECONDED BY SHEEHAN-KERBER TO APPROVE THE MARCH 11, 2019 MEETING MINUTES. Ayes by Boucher-Hoese, Braid, and Sheehan-Kerber. The motion carried 3-0. 4. CONSENT AGENDA A. Development Update (04/30/2019) MCCABE provided an overview of the quantity and valuation of building permits issued to date. B. EDA Revenue & Expenditure Report MCCABE shared that there have been no revenues to date. MOTION BY BRAID, SECONDED BY BRIGGS TO APPROVE THE CONSENT AGENDA. Ayes by Boucher-Hoese, Sheehan-Kerber, Briggs, and Braid. The motion carried 4-0. 5. REMOVED CONSENT AGENDA ITEMS None 6. PRESENTATIONS None 7. PUBLIC HEARING No Public Hearings 8. OLD BUSINESS A. MN Citizens for the Arts Speaker MCCABE shared that Mr. Braid recently reminded staff about our efforts last fall to bring in the Exectutive Director for the MN Citizens for the Arts speaker. He explained that she had originally been scheduled to speak to the EDA in the Fall of 2018, but due to scheduling conflicts was not able to attend. BRAID shared information about the Legacy Amendment and requested staff extend an invitation to her again to speak with the EDA regarding the connection between economic development and the arts. BRIGGS stated that during the downtown interchange improvement projects is a great opportunity to incorporate more art. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO DIRECT STAFF TO SECURE A SPEAKER TO DISCUSS THE ECONOMIC BENEFITS OF ART. Motion carried 4-0. 9. NEW BUSINESS A. EDA Funding Options MCCABE provided an overview of the information staff would like direction from the EDA to the City Council related to an allocation of reserve funds for the EDA. Options previously discussed include, but are not limited to, a levy increase, allocating a certain percentage or dollar amount. SHEEHAN-KERBER questioned what was done in 2018. MCCABE stated that $300,000 in City Council reserves were allocated to the EDA for specific initatives in 2018. BRIGGS questioned if the EDA has levy’d funds previously. MCCABE stated yes. The EDA levied $150,000 in 2018 as part of the city levy. Discussion ensued regarding funding options and opportunities. MCCABE explained the administrative fees associated with development are organized. The EDA directed staff to review and provide two options for EDA funding in 2020 including: 1) Reallocate the staff salaries from the 2020 EDA budget to the general levy and request the difference between that amount and $300,000 from City Council reserve funds in addition to reserve overage amounts, or 2) Reallocate the staff salaries from the 2020 EDA budget to the general levy and request .5% EDA levy increase and $350,000 from City Council reserve funds. B. Downtown Storefront Improvement Program MCCABE provided an overview of the previous conversation regarding a 2018 request to assist in funding im- provements to an existing downtown storefront. He shared that that specific request was related to a non-con- forming property and ultimately it was not pursued. BOUCHER-HOESE stated that she recalled discussing this topic previously. BRAID shared that often improvements happen naturally when redevelopment occurs and encourages invest- ment. SHEEHAN-KERBER questioned if this is the time to pursue this type of matching program. Discussion ensued regarding administrative needs associated with this type of program and timing. The EDA determined that this type of program may be more appropriate in the future. 10. OTHER BUSINESS A. Staff Updates i. EDA Agenda Review Meetings MCCABE questioned if there was interest in conducting EDA agenda review meetings. SHEEHAN-KERBER and BRIGGS indicated they had interest. BRAID and BOUCHER-HOESE indicated interest when available. ii. MVSS Update SCHWABE provided an update on recent conversations with MVSS representatives and informed the EDA that Prior Lake was not selected as a finalist. BRIGGS offered to meet with representatives of the SMSC to discuss opportunities to partner and promote economic development for future events. The EDA directed Staff to work with the SMSC and review other possible opportunities to promote economic development during the winter season. iii. Downtown Property Listing MCCABE provided an update to the property in downtown on which staff had previously inquired. Discussion ensued regarding communicating and encouraging economic development. Staff will assemble additional information regarding possible redevelopment opportunities for further discus- sion. iv. Downtown Redevelopment Update MCCABE shared that the VFW membership voted to pursue a new structure. He also shared that he and Mike McGuire met recently with the business owners at Sebastian’s Automotive. Discussion ensued. B. Commissioner Comments i. ‘Community Partner Designation’ BRIGGS shared that the EDA consider the opportunity to develop a recognition program for up to three businesses each year who have demonstrated themselves as a “Community Partner” each year. Nomina- tions could be made and winners would be selected via voting. The recipient(s) would be given a plaque, be included on the City of Prior Lake Economic Development website and they would have the opportunity to use the City logo and the recognition designation on their marketing materials. Criteria would need to be established (each of the commercial areas, criteria may include volunteers hours, in-kind contributions, etc.) The EDA directed staff to bring this item to the Business Engagement Committee for consideration. 11. ADJOURNMENT MOTION BY BRIGGS, SECONDED BY BRAID TO ADJOURN THE MEETING. With all in favor, the meeting ad- journed at 6:00 p.m. Ayes by Boucher-Hoese, Sheehan-Kerber, Braid and Briggs. The motion carried 4-0. ___________________________ Michael Plante, Executive Director