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HomeMy WebLinkAbout02 10 2020 EDA Minutes 4646 Dakota Street SE Prior Lake, MN 55372 PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY AGENDA Monday, February 10, 2020 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/2020/February 10, 2020 1. CALL TO ORDER 2. APPROVAL OF AGENDA 3. APPROVAL OF MEETING MINUTES A. January 13, 2020 4. CONSENT AGENDA A. Development Update (01/31/2020) B. Business Engagement Committee and Economic Development Authority Bylaw Amendments 5. REMOVED CONSENT AGENDA ITEMS 6. PRESENTATIONS A. None 7. OLD BUSINESS A. EDA Wish List Promotion & Donation and Maintenance Agreement Template B. 4662 Dakota Street SE Property 8. NEW BUSINESS A. None 9. OTHER BUSINESS A. Staff Updates 1. Downtown Redevelopment 2. Sand Point Park Restaurant Concept 3. Televised EDA Meetings B. Commissioner Comments 1. Business Engagement Committee 2. Arts & Culture Task Team 3. Technology Village 10. ADJOURNMENT: 6:00 p.m. Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes January 13, 2020 1. CALL TO ORDER PRESIDENT CHROMY called the meeting to order at 4:00 p.m. Present were Chromy, Sheehan-Kerber, Boucher- Hoese, Briggs and Braid. Also present were Executive Director Wedel, Community Development Director McCabe and Planner Schwabe. 2. APPROVAL OF AGENDA MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER, TO APPROVE THE AGENDA. Ayes by Chromy, Sheehan-Kerber, Boucher-Hoese, Briggs and Braid. The motion carried 5-0. 3. APPROVAL OF MEETING MINUTES A. December 9, 2019 MOTION BY BRIGGS, SECONDED BY CHROMY TO APPROVE THE DECEMBER 9, 2019 MEETING MINUTES. Ayes by Chromy, Sheehan-Kerber, Boucher-Hoese, Briggs and Braid. The motion carried 5-0. 4. CONSENT AGENDA A. Development Update (12/31/2019) B. EDA Revenue & Expenditure Report C. BEC / Technology Village BOD Bylaw Amendments MOTION BY BRIGGS, SECONDED BY BRAID TO APPROVE THE CONSENT AGENDA WITH THE REMOVAL OF ITEM 4A. The motion carried 5-0. 5. REMOVED CONSENT AGENDA ITEMS A. Development Update (12/31/2019) BRIGGS discussed and reflected on the changes identified in the total commercial/industrial and residential permit valuations and noted in the staff memo included in the packet. MCCABE stated that in 2011 there was a $0 revenue for new commercial building permit value and the total permit valuation has increased greatly in the last three years. He stated one reason for the recent increase may be the tone from the City Council has changed and our more recent numbers reflect that the City of Prior Lake is supportive of businesses in Prior Lake. CHROMY shared that he recalled ordinance changes that were made which assisted with changing the perception that it was difficult to do business in our community. BRIGGS stated that staff changes also played a role in the progress that has been made. He shared that in his opinion, the citizens wanted to see this type of change for our community. BRAID explained that the EDA and City Council have taken steps in recent years with investments, as well as risks, to set our community up for success. MCCABE shared that showing that the EDA is supportive via the allocation of funding, even in limited amounts, helps showcase a pro-business Prior Lake. Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPROVE THE 12/31/19 DEVELOPMENT UP- DATE AS PRESENTED. The motion carried 5-0. 6. PRESENTATIONS None 7. PUBLIC HEARING No Public Hearings 8. OLD BUSINESS A. #PLWorthIt Wish Book SCHWABE provided the draft Wish List to members for review and comment. BRIGGS suggested adding the Downtown Mural to the Streetscaping section with a notation that it has been funded. BRAID was in agreeance with adding the Nuvera mural under streetscaping and also leaving the mural opportunity in the Public Art section for future installation opportunities. SCHWABE discussed the maintenance agreement utilized by the City of Mankato. BRIGGS stated that the City Attorney has language that may be applicable to this type of agreement based on work for a street banner agreement recently executed between the City and VFW. CHROMY stated that having an agreement like this will be necessary. MOTION BY BRAID, SECONDED BY BRIGGS TO APPROVE THE REVISED WISH LIST AND DEVELOPMENT OF A DONATION AGREEMENT. The motion carried 5-0. 9. NEW BUSINESS A. Election of Officers MCCABE provided an overview of the currently held positions. He stated that nominations for President and Vice-President are being accepted and that current position holders are eligible for reappointment if the EDA so chooses. MOTION BY SHEEHAN-KERBER, SECONDED BY BOUCHER-HOESE TO APPROVE JASON WEDEL AS SECRETARY, CATHY ERICSON AS TREASURER AND CASEY MCCABE AS ASSISTANT TREASURER FOR 2020. The motion carried 5-0. BRAID stated that CHROMY and BOUCHER-HOESE have done a wonderful job in their current roles and sees a benefit to those positions remaining the same in 2020 due to the current projects. CHROMY stated that he would be willing to serve as Chair for 2020 to continue to work through current projects. SHEEHAN-KERBER shared that she would be supportive of Chromy remaining as Chair and would also be willing to serve as Vice-Chair if the EDA so chose. BOUCHER-HOESE stated that she would be willing to continue to serve as Vice-Chair in 2020 if the EDA so chose. BRIGGS explained that he agrees with Braid and the consistency in these roles will be critical in 2020. MOTION BY BRIGGS, SECONDED BY BRAID TO APPROVE THE NOMINATION OF CHROMY AS PRESI- DENT AND BOUCHER-HOESE AS VICE-PRESIDENT FOR 2020. The motion carried 4-0-1 (Sheehan-Kerber abstained). B. Advisory Committee Appointments MCCABE shared that all EDA Commissioners are eligible for appointment to the Business Engagement Com- mittee and Technology Village Board of Directors and asked for appointments to those advisory committees. Discussion ensued. MOTION BY CHROMY, SECONDED BY BRIGGS TO APPOINT BRIGGS AND BOUCHER-HOESE TO THE BEC, CHROMY TO TECHNOLOGY VILLAGE AND SHEEHAN-KERBER TO THE ARTS & CULTURE TASK TEAM. The motion carried 5-0. C. Consider Approval of a Purchase Agreement for Property at 4662 Dakota St. SE MCCABE shared that Staff was approached by the property owners of 4662 Dakota St. SE regarding interest in purchasing the property (approximately 14,000 sq. ft. in size) which is improved with a 1¼ single- th family home and detached 2-car garage. He stated that on January 6, the City Council directed staff to work fund reserves. He explained that the EDA could consider purchasing the property with reserve funds. In that scenario, the EDA would own the property and could receive reimbursement of funds upon the sale of that property. BRIGGS questioned what the professional services funds would traditionally be utilized for. MCCABE provided a historical overview of the professional services fund. BRAID shared that if monies are utilized for the purchase of this property, it limits the ability of the EDA to do other projects. Discussion ensued. CHROMY questioned the status of other projects where EDA funds had been allocated. MCCABE shared that if funds were allocated, however the project did not come to fruition, the funds remain with the EDA. SHEEHAN-KERBER questioned the rent potential for the residence. Discussion followed. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPROVE A RESOLUTION APPROVING THE PURCHASE OF PROPERTY AT 4662 DAKOTA STREET SE AND AUTHORIZING THE PRESIDENT AND EXECUTIVE DIRECTOR TO EXECUTE THE PURCHASE AGREEMENT. The motion carried 5-0. D. Consider Approval of a Purchase Agreement for Property at 4656 Pleasant St. SE MCCABE explained that the EDA has been working with The Beard Group, Inc (Beard) for the past several months on a potential downtown redevelopment project on the VFW block of Main Avenue SE. Beard has en- tered into a purchase agreement to purchase a residential property at 4656 Pleasant St. SE to facilitate this redevelopment project. He stated that Beard has requested the EDA enter into a purchase agreement whereby the EDA would purchase the property before January 6, 2022 if the proposed redevelopment project does not move forward. th BRIGGS shared that on January 6 the City Council approved a resolution authorizing the EDA to enter into a purchase agreement with Beard for this property and ensures necessary funding will be available to the EDA should they need to purchase the property in 2022. BRAID stated that he was grateful for the conversation and City Council surrounding this project. MOTION BY BOUCHER-HOESE, SECONDED BY BRAID TO APPROVE A RESOLUTION APPROVING THE PURCHASE OF PROPERTY AT 4656 PLEASANT STREET SE AND AUTHORIZING THE PRESIDENT AND EXECUTIVE DIRECTOR TO EXECUTE THE PURCHASE AGREEMENT. The motion carried 5-0. 10. OTHER BUSINESS A. Staff Updates i. Downtown Redevelopment MCCABE provided an update to the EDA including information that a revised concept plan should be avail- able in the coming weeks. He stated that staff would be engaging Northland Securities for TIF related work and also move forward with platting, public hearings, development agreements, etc. which would happen at the Planning Commission and City Council levels. Discussion followed. MCCABE stated that most of the businesses in the area are aware that there is a pending project; however, until the concept is finalized, the concept plans/illustrations would not be distributed. BRIGGS recommended the creation of a repository of questions for consistency in responses. MCCABE distributed information from the proposed developer. WEDEL shared information related to a recent project in a neighboring community. BRIGGS stated that a communication plan with this development will be instrumental as we move forward. ii. Sand Point Park Restaurant Concept MCCABE shared information surrounding a possible lake restaurant/bistro concept brought forward by a local establishment at Sand Point Park. The concept includes remodeling the existing restroom/pavilion structure for a seasonal restaurant. Discussion followed. BRAID stated that having a public/private partnership to make improvements to the park would be very beneficial. SHEEHAN-KERBER stated that the community could support this type of establishment. BRIGGS shared that there are at least two restaurants in our community who have expressed an interest in pursuing a public/private partnership of this nature. He encouraged the consideration of an RFP. EDA members stated they support the restaurant at Sand Point Park concept and recommended the City Council consider providing an RFP opportunity to local businesses first, prior to accepting proposals from restauranteurs from outside the community. iii. Downtown Mural SCHWABE provided an update on the status of the Downtown Mural including that the mural has been fully funded by a combination of contributions from Prior Lake residents, organizations and businesses. She stated that staff is now working on designing and obtaining estimates for the contributor recognition plaque. Discussion ensued related the contributions and total project costs. B. Commissioner Comments i. Committee Liaison, Activity & Initiatives Update Arts Committee/Task Force SHEEHAN-KERBER provided an update on the meeting schedule for the Task Force and shared the projects that the group is working on. She stated that twice during the year, representatives from the Task Force will attend the EDA meeting to provide an update. Business Engagement Committee MCCABE provided an update on the last meeting and discussions about roles within the committee, the role of the BEC and EDA, etc. CHROMY shared that historically, EDA meetings have been less formal than the Planning Commission and City Council. He questioned whether the EDA needs to be more formal and have a public comment period on each agenda. BRAID suggested having a regular agenda item for the BEC to raise questions, bring forth issues/con- cerns, etc. BRIGGS and BOUCHER-HOESE concurred. BRIGGS stated that furthering the relationship with the BEC is important. He suggested having a liaison from the BEC attend as a non-voting member to the EDA. Staff will speak with the BEC Chair and Vice-Chair regarding this topic. Technology Village MCCABE shared that the Technology Village Board has been working on a plan with other Scott County communities; however, continuing to en- courage the growth of the program as well as anticipation of future space needs in this building have brought forth the need for additional conversations. CHROMY stated that their next Board meeting is this Friday, during which this topic will be raised. BRIGGS shared that Technology Village has a virtual space component also. Discussion ensued. 11. ADJOURNMENT MOTION BY BRIGGS, SECONDED BY SHEEHAN-KERBER TO ADJOURN THE MEETING. Ayes by Chromy, Sheehan-Kerber, Boucher-Hoese, Briggs and Braid. The motion carried 5-0. The meeting adjourned at 5:57 p.m. Submitted by: Amanda Schwabe 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: February 10, 2020 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 January 31, 2020. 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: 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. RECOMMENDED Alternative No. 1. MOTION ATTACHMENT: 1. Development Update (provided at meeting) 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: February 10, 2020 AGENDA #: 4B PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Business Engagement Committee and Economic Development Authority Bylaw Amendments DISCUSSION: Introduction The purpose of this agenda item is for EDA review of updates to the Business Engagement Committee (BEC) and Economic Development Authority Bylaws. History The EDA periodically reviews recommend revisions to the BEC and EDA Bylaws; the last BEC Bylaw revision being approved in January 2020 and the last EDA Bylaw revision being in March 2018. Current Circumstances During the January EDA meeting, the EDA approved revisions to the BEC and Technology Village Board of Directors Bylaws. The revisions included the removal of the screening committee for new appointments and reducing the number of committee members from a maximum of 13 to a maximum of ten; the BEC cur- rently has ten members. There were also a few clean up revisions which fixed typos (Board vs Committee); delete duplicate language (officers, appointment timeline, amendments); and, in Technology Village Bylaws and deleted duplicate . The appointment of staff liaison from the mayor to the City Manager was changed, as the city has done in the other bylaws. The appointment language was also cleaned up. During the January meeting, the EDA suggested having a liaison(s) from the BEC attend EDA meetings as a non-voting member to the EDA. This addition requires an amendment to the EDA and BEC Bylaws. Issues The primary purpose of the revisions to the BEC and EDA Bylaws are to allow for the BEC to appoint a non-voting liaison(s) to the EDA. The EDA Bylaws also include the removal of the Screening Committee in the event of an EDA vacancy. The EDA can approve the amendments to the BEC Bylaws; however, the EDA Bylaws will need City Council approval. FINANCIAL None. IMPACT: ALTERNATIVES: 1. Motion and second, as part of the consent agenda, to approve the proposed revisions to the Business Engagement Committee Bylaws and recommend City Council approval of the proposed revisions to the Economic Development Authority Bylaws. 2. Remove this item from the consent agenda for additional discussion. RECOMMENDED Alternative No. 1. ALTERNATIVE: ATTACHMENTS: 1. BEC Bylaws (Redlined) 2. EDA Bylaws (Redlined) 2 CITY OF PRIOR LAKE BUSINESS ENGAGEMENT COMMITTEE BYLAWS Adopted July 11, 2011 Amended April 9, 2012 Amended August 19, 2013 Amended January 20, 2015 Amended January 11, 2016 Amended February 08, 2016 Amended April 09, 2018 January 13, 2020 February 10, 2020 SECTION 100: PURPOSE 101. The purpose of the City of Prior Lake Business Engagement Committee (Committee) bylaws is to provide a set of operating procedures for the Committee, and to establish a code of ethics and conduct. SECTION 200: STRUCTURE OF COMMITTEE 201. COMMITTEE CREATED: The EDA has established a Business Engagement Committee. The Committee is advisory, and its purpose is to study and provide reports, analysis and recommendations to the Economic Development Authority (EDA) and City staff on economic development matters as assigned. 202. DUTIES OF THE COMMITTEE: The duties and responsibilities of the Committee include: 1. Serve as a liaison between City government and the business community to assist the City with business retention in the community. 2. As requested, review and comment on economic development and redevelopment policies to the EDA or City staff. 3. Make recommendations to the EDA or City staff regarding economic development issues, strategy development and implementation and other initiatives that can be undertaken by the EDA to expand and strengthen business retention & expansion. 4. In conjunction with EDA members or staff, introduce potential or new business representatives to others in the community. 203. APPOINTMENT: The Committee shall consist of no more than ten (10) members appointed by the EDA. Said members shall consist of residents and non-residents affiliated with a business located within the City of Prior Lake as may be determined by the EDA. No more than 40% of the Committee shall be non-residents. Said members shall serve three (3) year- stst terms beginning November 1 and ending October 31. Committee members may serve additional terms upon approval by the EDA, based upon satisfactory attendance and participation, continued qualification, and in accordance with the term limit policy established herein. Committee members may be appointed at any time throughout the year. If a Committee member is appointed at any time other than the standard City appointment process in October, the Committee member shall begin service immediately upon appointment and shall serve as if appointed in the previous October, serving two full years and a partial year. 204: COMMITTEE LIAISONS: The EDA, the Prior Lake Chamber of Commerce and other organizations deemed appropriate by the EDA and Committee, may appoint Liaisons to serve on the Committee. The role of a Liaison is to act as a conduit and resource for information for the Committee. The Liaison shall not participate in the discussion or deliberation of any matter pending before the Committee, except where the Committee is meeting in a study or work session. The Committee, at its discretion, may ask the Liaison for input on the subject under consideration. The Liaison shall never use this occasion as an opportunity to communicate their personal position regarding the matter under consideration. 205. VACANCIES: If an appointed member of the Committee resigns, is terminated, reaches a term limit, or otherwise vacates a seat of the Committee, the EDA may appoint a replacement in the following manner: 1. Applications are solicited. A notice of the vacancy is made public and individuals may be encouraged to consider the position. The notice shall state the deadline for submitting applications. 2. Appointment. City staff shall review applications and conduct interviews, if necessary, of all candidates who have applied for appointment or reappointment. Staff will then make a recommendation to the EDA for appointment. The EDA may accept or reject the recommendation. If the recommendation is rejected, the EDA may appoint another individual or reopen the application period and invite new candidates to apply. 206. OFFICERS: The Committee shall elect from among its members a Chair and Vice-Chair. The City Manager or his/her designee shall serve as Secretary of the Committee. 1. Chair: The Chair shall be elected at the first meeting in November by majority vote of the members present at the meeting. The term of the chair shall begin in November and run for one year. The duties of the chair shall include approval of meeting agendas, presiding at meetings, and giving an accounting of its activities and any information the Committee may consider relevant before the EDA annually or as directed otherwise. 2. Vice-Chair: The Vice-Chair shall be appointed in the same manner as the Chair and shall perform the duties of the Chair in his/her absence. The Vice-Chair shall assume such other duties as assigned by the Chair. 3. Secretary: The Secretary shall be responsible for recording and compiling a written summary of all official activities of the Committee. 4. Vacancy: If the office of Chair or Vice-Chair becomes vacant, the Committee shall appoint a replacement by majority vote of those members present at the next regular meeting, and such election shall be for the unexpired term of said office. 207. TERM LIMIT: It is the policy of the Prior Lake City Council to impose a three-term service limitation for all appointed positions on the Committee. The term limit applies only to full three- year terms, but under no circumstance can and member serve for more than 9 (nine) consecutive years. The purpose of the term limit policy is to encourage resident participation on City advisory bodies and provide community members with the opportunity to participate in their local government. 208: REMOVAL OF MEMBER: Any member of the Committee may be removed from office by a four-fifths (4/5) vote of the entire EDA for reasons including but not limited to: (i) failure to attend a minimum of 75% of meetings; (ii) failure to attend site visits/inspections; (iii) failure to review and understand agenda materials; (iv) failure to participate in an appropriate and productive manner; (v) failure to continue to meet any requirement set forth in Section 203; and (vi) failure to comply with any provision of these bylaws or any federal, state or local rule or regulation. 209: STAFF LIAISON: The City Manager shall appoint one or more staff liaisons to serve on the Committee. The staff liaison shall schedule meetings and provide information at the direction 2 of 3 request of the Committee but shall not direct the Committee or advocate for a position. 210: STUDENT MEMBERS: The Committee may select up to two individuals who are 18 years or under to be student members on the Committee. The Committee shall establish an application and interview process to select the student members. The student members shall be full voting members of the Committee. 211: EDA LIAISON: The Committee may select up to two Committee members to be liaisons to the EDA. Student members may not serve as liaisons. The liaison may attend EDA meetings, participate in discussion, and provide information and opinions both personally and from the Committee, but shall not be a voting member of the EDA. SECTION 300: STATEMENT OF ETHICS 301: The Statement of Ethics is located in the EDA Bylaws Section 16. SECTION 400: CONDUCTING MEETINGS 401: MEETINGS: All regular and special meetings shall be open to the public and shall be noticed in conformance with the Minnesota Open Meeting Law. 402: SPECIAL MEETINGS: Special Meetings of the Committee may be called by the Chair or any two (2) members of the Committee for the purpose of transacting any business designated in the notice. Staff may recommend calling a special meeting but must receive approval from either the chair or two members of the Committee. At such meetings, no business shall be considered other than as designated in the notice. 403: QUORUM AND VOTING: At each meeting a majority of all the members appointed (e.g. three out of five, six out of ten) shall constitute a quorum for the transaction of business. The voting options available to the Committee when a vote has been initiated are: aye (affirmative); nay (negative vote); and abstention. When a vote is to be taken, the presiding officer shall first call for the ayes, then the nays, and if applicable, shall call for abstentions. The votes of each member shall be recorded in the minutes. If a member of the Committee is absent during a SECTION 500: MOTIONS AND RESOLUTIONS 501: POWERS AND DUTIES: The Committee shall act in an advisory capacity to the EDA and shall advise the EDA on matters identified in Section 202 or as assigned to the Committee. goals and objectives before the EDA as requested. Additionally, specific powers, duties and responsibilities may be assigned to the Committee upon approval of the EDA. 502: SUBCOMMITTEES: The Committee may divide its membership into subcommittees, as it deems necessary to implement its goals and objectives. SECTION 600: AMENDMENTS 601: AMENDMENTS: These bylaws shall be reviewed by the Committee annually. The Committee or City staff may recommend revised Bylaws to the EDA for final approval. 3 of 3 CITY OF PRIOR LAKE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY BYLAWS Amended January 3, 1995 Amended January 2, 1996 Amended February 20, 1996 Amended October 21, 1996 Amended December 21, 1998 Amended April 16, 2001 Amended March 19, 2007 Amended October 18, 2010 Amended September 24, 2012 Amended February 11, 2013 Amended January 12, 2015 Amended January 11, 2016 Amended January 9, 2017 Amended March 19, 2018 Amended March ___, 2020 ARTICLE 1. NAME AND PURPOSE 1.1 The Prior Lake Economic Development Authority (EDA) is a public body politic and a political subdivision of the State of Minnesota. The EDA shall have all the powers, duties, responsibilities and lim- itations provided for in Minnesota Statutes Section 469.090 to 469.108 which statutes are incorporated by reference as if fully set forth herein and in the Enabling Resolution passed by the Prior Lake City Council creating the Economic Development Authority. The Enabling Resolution and these Bylaws may be amended by the City Council from time-to-time. 1.2 The business of the Economic Development Authority shall include but not be limited to: promot- ing growth, development and redevelopment of retail, commercial and industrial properties in Prior Lake; ax base; providing tools and incentives to achieve the Economic Vision Element in support economic growth and vitality. 1.3 The affairs of the Economic Development Authority shall be conducted in accordance with these Bylaws. ARTICLE 2. OFFICES AND BOUNDARIES 2.1 The principal office of the EDA shall be in the City Hall of the City of Prior Lake, 4646 Dakota Street SE, County of Scott, and State of Minnesota. The EDA may also have offices at such other places as the commissioners of the EDA may from time to time designate or as the business of the EDA may require. 2.2 The territory in which operations of the EDA are principally to be conducted consists of the City of Prior Lake, Scott County, in the State of Minnesota. 1 of 10 ARTICLE 3. BOARD OF COMMISSIONERS 3.1 APPOINTMENT AND TERMS. The Prior Lake Economic Development Authority shall consist of five (5) commissioners. The five (5) commissioner Authority shall be comprised of two (2) commissioners from the City Council and three (3) commissioners appointed from the public. The appointments shall be made by the Mayor and approved by the City Council. The commissioners appointed from the public shall be appointed for six (6) year terms beginning on January 1 and concluding on December 31. Public members may be appointed at any time throughout the year. If a public member is appointed at any time other than January, the member shall begin service immediately upon appointment and shall serve as if appointed in the previous January, serving five full years and a partial year. The terms of commissioners appointed from the public shall be staggered with no two terms expiring in the same year. If at any time the terms are no longer staggered, all current terms shall expire naturally, but upon the natural expira- tion, the newly appointed commissioners shall be appointed for terms that result in staggered terms as determined by the City Council. The City Council members appointed to the Authority shall serve terms that coincide with their term of office as a Council Member. City Council members appointed to the Au- thority are not required to serve staggered terms. Commissioners of the EDA are not term limited. 3.2 CRITERIA FOR NON-COUNCIL APPOINTMENTS. Members of the public appointed to serve on the EDA must have relevant experience in: the private sector, business development or redevelopment, business retention, business management, real estate, project management, planning, financing and/or familiarity or experience working in the public sector. The individual should have experience working in a team environment, have good communication and problem-solving skills and have the time and crea- tivity to serve and actively contribute as a commissioner. 3.3 ELIGIBILITY FOR NON-COUNCIL APPOINTMENTS 3.3.1 To be eligible to serve on the EDA, an individual must either: 3.3.1.1 Be a resident of the City; or 3.3.1.2 Be in a management position at or hold a controlling financial interest in a busi- ness located within Prior Lake. 3.4 VACANCY. If an appointed member of the Committee resigns, is terminated, reaches a term lim- it, or otherwise vacates a seat of the Committee, the Prior Lake City Council shall appoint a replacement in the following manner: 3.4.1 Commissioners appointed from the public: 3.4.1.1 Applications are solicited. A notice of the vacancy is made public and individuals may be encouraged to consider the position. The notice shall state the deadline for submitting applications. 3.4.1.2 Screening Committee. The City Manager or his designee, the City Council liaison to the committee, the staff liaison to the committee, and one member of the com- mittee appointed by majority vote of the committee shall serve as the Screening Committee. An individual subject to re-appointment may not sit on the screening committee. 3.4.1.32 Appointment. City staff review applications The Screening Committee for EDA vacancies and shall narrow the candidates down to up to three (3) finalists per va- cancy. The names of applicants are private data. Once finalists have been se- lected, the names of the finalists become public data. The finalists shall be inter- viewed by the Council and allowed to make a five minute presentation regarding their qualifications and reasons for seeking the appointment. Members of the Council may ask questions of the candidate, but the time used for questions will not be counted against the candidates five (5) minute presentation. The Mayor shall then appoint one of the finalists and the Council shall vote on approval. If the 2 of 10 Council does not approve the finalist appointed by the Mayor, the Mayor may ap- point one of the other finalists for Council approval or may reopen the vacancy to the public for new candidates. 3.4.2 Commissioners appointed from the City Council. If a commissioner appointed from the City Council vacates a seat of the EDA for any reason, the Mayor shall appoint and the City Council shall approve a new commissioner from the City Council. The newly ap- pointed commissioner shall serve a term that coincides with their term of office as a Council Member. All members of the Council including the Mayor are eligible for ap- pointment. 3.5 REMUNERATION AND REIMBURSEMENT. A commissioner, including the President, shall be paid a per diem for attending each regular or special meeting of the EDA in an amount to be determined annually by the City Council. The per diem may not exceed the per diem paid to the City Council. In ad- dition to receiving a per diem for attending meetings, the commissioners may be reimbursed for actual expenses incurred in doing official business of the EDA. Expense reimbursements must be reviewed and approved by the President and Executive Director of the EDA before they are submitted for payment. All money paid for compensation or reimbursement must be paid out of the EDA's budget. (Minn. Stat. 469.095, subd. 4). 3.6 REMOVAL OF MEMBER: Any member of the EDA may be removed from office by a four-fifths (4/5) vote of the entire City Council for reasons including but not limited to: (i) failure to attend a minimum of 75% of meetings; (ii) failure to attend site visits/inspections; (iii) failure to review and understand agen- da materials; (iv) failure to participate in an appropriate and productive manner; (v) failure to continue to meet any requirement set forth in Section 203; and (vi) failure to comply with any provision of these by- laws or any federal, state or local rule or regulation. 3.7 STAFF LIAISON: The City ManagerMayor shall appoint one or more staff liaisons to serve on the EDA. The staff liaison shall schedule meetings and provide information at the direction of the EDA. The EDA but shall not direct the EDA or advocate for a position. 3.8 BEC LIAISON: The Business Engagement Committee may appoint up to two BEC mem- bers to serve as liaisons to the EDA. Student members may not serve as liaisons. The liaison may attend EDA meetings, participate in discussion, and provide information and opinions both personally and from the BEC, but shall not be a voting member of the EDA. ARTICLE 4. MEETINGS AND NOTICE 4.1 REGULAR MEETINGS. The EDA shall establish a regular meeting schedule. There shall be not less than four (4) nor more than twelve (12) regular meetings per year. Notice of all meetings, both regu- lar and special, shall follow the requirements of the Minnesota Open Meeting Law. 4.2 QUORUM. Three (3) commissioners shall constitute a quorum for the purpose of conducting business. Commissioners are to notify the staff prior to the meeting if they are unable to attend. 4.3 NOTICE. Whenever the provisions of an applicable statute or these Bylaws require otice to be given to any commissioner or officer notice may be given by U.S. Mail, telephone, electronic communica- tion, or in person. 4.4 SPECIAL MEETINGS. Special meetings of the Board of Commissioners may be called at any time by any two (2) commissioners or the President or, in absence, by the Vice- President. Notice of special meetings of the Board of Commissioners shall be given to each commis- 3 of 10 sioner at least two (2) days prior to the meeting if possible, provided, however, that if giving two (2) days notice is not possible notice shall be given as soon as possible prior to the meeting. The notice shall state the time, place and business scheduled to come before the EDA. Public notice of a special meeting shall comply with the requirements of the Minnesota Open Meeting Law. 4.4.1 In the case of special meetings, the presence of any commissioner of the Authority at a special meeting shall constitute a waiver of any formal notice of the meeting unless the commis- sioner attends for the specific purpose of objecting to the holding of such meeting. 4.5 CONDUCT OF BUSINESS AT MEETINGS. Business of the meeting will be conducted according to the Agenda prepared by the Staff Liaison. A memo, report, or brief explanation of each agenda item shall be included in the EDA agenda packet. The information provided by staff should serve to inform the EDA of the subject matter under discussion. The information should explain in detail the staff comments or work, or state that the staff will present the necessary details and comments at the meeting. 4.6 PUBLIC HEARINGS. Public Hearings shall be conducted in the following manner: 4.6.1 The presiding officer announces the agenda item that is the subject of the public hearing. 4.6.2 It is the intent of the EDA to open all public hearings at the time indicated in the public hearing notice, or as soon as possible thereafter. From a practical standpoint, not all hear- ings can be opened at their designated time. The EDA may delay the start of a hearing until the pending business is acted upon. However under no circumstances may a public hearing be opened prior to the time specified in the notice and published in the official newspaper. 4.6.3 Staff and/or a consultant make a presentation or report on the subject matter of the public hearing. 4.6.4 At the conclusion of any presentation or remarks by staff and/or a consultant, the presid- ing officer asks the EDA members if they have questions of the staff or consultant. 4.6.5 The presiding officer requests a motion and second from a member of the EDA to open the public hearing and calls for a vote. 4.6.6 The presiding officer declares the public hearing opened, announces the time and then proceeds to ask for citizen input, comments and questions. 4.6.7 After all persons have been heard, the presiding officer will ask whether there are any other persons in attendance who want to be heard on the matter pending. The presiding officer will request a motion to close the public hearing or to continue the public hearing to a date and time certain. 4.6.8 Once the public hearing is closed, the EDA addresses the subject matter through delib- eration. The EDA may ask questions of the staff and City Attorney. EDA members should refrain from calling upon a member of the public except for the sole purpose of 4.6.9 Once deliberations are complete, the presiding officer requests a motion on the matter at hand. 4.7 VOTING. All commissioners of the EDA shall have equal voting authority. 4.8 CONSENT AGENDA. 4.8.1 With the adoption of these Bylaws, a Consent Agenda is created. The purpose of the -controversial nature for consid- eration under one motion. There will be no separate discussion of items placed on the Consent Agenda. If discussion of an item on the Consent Agenda is desired, any com- missioner of the EDA may request the item be removed from the Consent Agenda and considered separately. 4 of 10 4.8.2 The Executive Director shall determine what items may be considered routine and non- controversial; and therefore appropriate for inclusion as a Consent Agenda item. To pro- vide the Executive Director with guidance, the following types of items tend to be routine and non-controversial: grant deeds, grants of easements, quarterly budget report, treas- agreements previously approved in principle, setting dates for public hearings, approval of payment of contracts, approval of denial of claims, award of bids, and other items of a like nature that the Executive Director considers routine and non-controversial. 4.8.3 the EDA Agenda which are considered routine and non-controversial are included as part of the Consent Agenda. Unless the President or an EDA commissioner 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 ARTICLE 5. OFFICERS, DUTIES AND RULES 5.1 OFFICERS. The EDA shall elect a president, a vice-president, a treasurer, a secretary, and an assistant treasurer annually at the first meeting of the year. A commissioner must not serve as president and vice-president at the same time. The other offices may be held by the same commissioner. The of- fices of secretary, treasurer and assistant treasurer need not be held by a commissioner. The EDA shall elect the Financial Director of the City of Prior Lake as the treasurer. 5.2 DUTIES. The officers of the EDA shall have the usual duties, responsibilities and powers associ- ated with their office. 5.3 The treasurer shall receive and is responsible for all EDA money; shall keep an account of the source of all receipts, and the nature, purpose and amount of all disbursements; and shall file the EDA's detailed financial statement with its secretary at least once a year at times set by the EDA. The assistant treasurer shall have the powers and duties of the treasurer if the treasurer is absent or disabled. 5.4 The treasurer shall give bond to the state conditioned for the faithful discharge of official duties. The bond must be approved as to form and surety by the EDA and filed with the secretary. The bond must be for twice the amount of money likely to be on hand at any one time, as determined at least an- nually by the EDA, provided that the bond must not exceed $300,000. (Minn. Stat. 469.096) 5.5 BUSINESS ENGAGEMENT COMMITTEE LIAISON. The EDA shall elect a Business Engage- ment Bthe first meeting of the year. Any of the five (5) commissioners may serve as the BEC liaison. ARTICLE 6. FINANCE AND ADMINISTRATION 6.1 EDA money is public money. The monies of the EDA shall be deposited in the name of the EDA in such bank or banks as the Board of Commissioners shall designate. 6.1.1 The EDA is a political subdivision separate and distinct from the City. 6.1.2 The City has established separate funds for EDA money and the EDA will have access only to current EDA-related accounts. 6.1.3 The EDA has its own budget and the EDA will be responsible for developing its budget. 6.1.4 Although the EDA has the power to issue debt instruments, it may not do so without ap- proval from the City Council. 5 of 10 6.2 An EDA check must be signed by the treasurer and one other officer named by the EDA in a res- olution. The check must state the name of the payee and the nature of the claim that the check is issued for. (Minn. Stat. 469.096) 6.3 The nature, number and qualification of the staff required by the EDA to conduct its business ac- cording to these Bylaws shall be annually determined by the EDA. Any contract shall set forth in reason- able detail the nature of the services to be provided to the EDA, and the cost basis for such services and the payment to be made by the EDA. 6.4 The books and records of the EDA shall be kept at the EDA office in the Hall at the City of Prior Lake, Minnesota. 6.5 The EDA's detailed financial statement must show all receipts and disbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, the EDA's credits and assets, and its outstanding liabilities in a form required for the City's financial statements. The EDA shall examine the statement together with the treasurer's vouchers. If the EDA finds that the statement and vouchers are correct, it shall approve them by resolution and enter the resolution in its records. ARTICLE 7. DEPOSITS, DEFAULT, COLLATERAL 7.1 Every four (4) years the EDA shall name a national bank with offices in the seven-county metro- politan area or a state bank to act as the official depository of the EDA. Before acting as a depository, a named bank shall give the EDA a bond approved as to form and surety by the EDA. The bond must be conditioned for the safekeeping and prompt repayment of deposits. The amount of bond must be at least equal to the maximum sums expected to be deposited at any one time. 7.2 When EDA funds are deposited by the treasurer in a bonded depository, the treasurer and the surety on the treasurer's official bond are exempt from liability for the loss of the deposits because of the failure, bankruptcy, or other act or default of the depository. However, the EDA may accept assignments of collateral from its depository to secure deposits just as assignments of collateral are permitted by law to secure deposits of the City. (Minn. Stat. 469.099) ARTICLE 8. ANNUAL REPORT AND BUDGET 8.1 without prior approval from the City Council, levy a tax or special assessment, pledge the credit of the City, incur an obligation enforceable on property not owned by the EDA, issue any debt obligation, or in- cur any debt beyond the amount budgeted in the current year. 8.2 Annually, at a time fixed by resolution or ordinance of the City, the EDA shall send its budget to the City Council. The budget must include a detailed written estimate of the amount of money that the EDA expects to need from the City to do EDA business during the next fiscal year. The needed amount is what is needed in excess of any expected receipts from other sources. The EDA budget shall be de- veloped and prepared using the format and procedure used by all City departments. 8.3 The fiscal year of the EDA shall be the same as the fiscal year of the City. 8.4 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 re- ceipts and expenditures during the preceding calendar year, together with additional matter and recom- mendations it deems advisable. 6 of 10 8.5 The financial statements of the EDA must be prepared, audited, filed and published or posted in the manner required for the financial statements of the City. The financial statements must permit com- parison and reconciliation with the City's accounts and financial reports. The report must be filed with the state auditor by June 30 of each year. The auditor shall review the report and may accept it or, in the public interest, audit the books of the EDA. 8.6 At the request of the City or upon the auditor's initiative, the state auditor may make a legal com- pliance examination of the EDA including the salaries paid to the examiners while actually engaged in making the examination. The state auditor may bill monthly or at the completion of the audit. All collec- tions received must be deposited in the general fund. (Minn. Stat. 469.100) ARTICLE 9. POWERS 9.1 The Board of Commissioners may exercise all powers of an EDA and do all such lawful acts and things as are authorized pursuant to Minn. Stat. 469.090 to 469.108, the Enabling Resolution and these Bylaws. 9.2 The EDA may exercise all of the powers contained in the Housing Act, Minn. Stat. 469.001 to 469.047. 9.3 The EDA may exercise all of the powers of an Agency contained in the Development Act, Minn. Stat. 469.124 to 469.134. 9.4 The EDA may exercise all of the powers of a redevelopment agency contained in the Industrial Bond Act, Minn. Stat. 469.152 to 469.165. 9.5 The EDA may exercise all of the powers of a city contained in the Housing Finance Act, provided authorized to do so by ordinance of the City Council pursuant to Section 462C.02, Subdivision 6 of the Housing Financing Act. 9.6 The EDA may exercise all of the powers of an authority contained in the Tax Increment Act, Minn. Stat. 469.174 to 469.179. 9.7 The EDA may exercise such powers as may be contained in other laws applicable to economic development authorities or housing and redevelopment authorities not specifically described herein. The officers have the usual duties and powers of their offices. They may be given other duties and pow- ers by the EDA. 9.8 The EDA may appoint subcommittees as it deems necessary to carry out its other powers and duties. All subcommittees shall comply with the Minnesota Open Meeting Law. ARTICLE 10. LIMITATION OF POWERS 10.1 All official actions of the EDA must be consistent with the adopted Comprehensive Plan of the City and with any official controls adopted by the City Council to implement the Comprehensive Plan to the extent available. 10.2 Budget. The EDA annual budget shall be approved by the City Council. 10.3 All powers of the EDA shall be consistent with the Enabling Resolution. 10.4 If there is a question with respect to EDA final authority, the City Council shall be deemed to be the final authority. 7 of 10 ARTICLE 11. STAFF 11.1 The City Manager shall serve as the Executive Director to the EDA. The Executive Director and other staff are not considered members of the EDA. The Executive Director and other staff may partici- pate in discussion, at the discretion of the EDA commissioners, but may not vote on matters before the EDA. 11.2 The EDA may employ a chief engineer, other technical experts and agents, and other employees as it may require and may determine their duties, qualifications and compensation. (Minn. Stat. 469.097, subd. 1). 11.3 The EDA may contract for the services of consultants, agents, public accountants, and other per- sons needed to perform its duties and exercise its powers. (Minn. Stat. 469.097, subd. 2) 11.4 The City Attorney is the chief legal advisor to the EDA. (Minn.Stat. 469.097, subd. 3) 11.5 The EDA may purchase the supplies and materials it needs to carry out Minn. Stat. 469.090 to 469.108 (Minn. Stat. 469.097, subd. 4)and its other powers and duties. 11.6 The EDA shall use the facilities of its City's purchasing department in connection with construc- tion work and to purchase equipment, supplies, or materials. (Minn. Stat. 469.097, subd. 5) 11.7 The City may, to the extent available, furnish offices, structures, space, clerical, engineering or other assistance to the EDA. The City may charge the EDA for such services. (Minn. Stat. 469.097, subd. 6) 11.8 The EDA may delegate to one or more of its agents or employees powers or duties as it may deem proper. (Minn. Stat. 469.097,subd. 7) ARTICLE 12. SEAL 12.1 The official seal of the EDA shall be the same as the official seal of the City of Prior Lake. ARTICLE 13. INSURANCE 13.1 The EDA shall obtain a written opinion from the LMCIT regarding insurance coverage issues. The EDA shall purchase and maintain insurance as recommended by the LMCIT to cover the activities of the EDA including its commissioners, officers, employees, agents and attorney. ARTICLE 14. AMENDMENT OF BYLAWS 14.1 Recommendations from the EDA to alter, amend, add or repeal any portion of these Bylaws may be accomplished by a majority vote of the commissioners present at any meeting, as long as the notice of the meeting or agenda for the meeting contains notice and statement of the proposed alteration, amendment or repeal. Notice of any alteration, amendment or repeal of the Bylaws shall be given in writ- ing to each commissioner at least three (3) days prior to the meeting at which said proposed alteration, amendment or repeal will be considered. 14.2 Once the EDA passes a recommendation to alter, amend, add or repeal any portion of these By- laws, the EDA shall forward the recommendations to the City Council for its approval. 8 of 10 ARTICLE 15. MISCELLANEOUS 15.1 EDA meetings shall be governed by these Bylaws and Roberts Rules of Order. Roberts Rules are adopted here as a framework to ensure that meetings are conducted with order and a general re- spect for the views expressed by all the EDA commissioners, but Roberts Rules are not always easily implemented by a body such as the EDA. When a question of parliamentary procedure presents itself, the President, in consultation with the City Attorney, will rule on the question. If Roberts Rules are im- properly applied, the decision of the EDA shall not be invalidated or otherwise set aside. ARTICLE 16. STATEMENT OF ETHICS 16.1 POLICY STATEMENT: The City of Prior Lake recognizes our system of democratic representa- tive government is dependent in large measure, upon people having trust and confidence in their public officials. The public rightfully expects governmental officials will conduct City of Prior Lake business in ways which benefit the public good generally and that public office will not be used chiefly or improperly to advance personal interests. The City Council of Prior Lake has pledged the goals of fair, efficient and honest government will be fostered and that it will strive for integrity and objectivity from all of its officials. 16.1.1 The City of Prior Lake finds that the proper operation of democratic representative gov- ernment requires that: Elected and appointed officials be independent, impartial and responsible to the peo- ple; Governmental decisions and policy are made in the proper channels of the govern- mental structure; Public office and position not be used for personal gain; and The public have confidence in the integrity of its government. 16.1.2 The City of Prior Lake shall adhere to the highest ethical standards that enhance the pub- lic trust in local government by: Creating transparency in its actions through honest and open communication; Basing decisions and adopting public policies based on what is in the best interest of the public and the overall community; Exercising fairness, optimism, responsiveness and respect in communicating with the public. Providing a forum and periodic training for public officials and employees to discuss organizational values that reflect high standards and current conditions and concerns. 16.1.3 This Statement of Ethics shall be liberally construed in favor of terest in full disclosure of conflicts of interest and promoting ethical standards of conduct. 16.2: CAMPAIGN FINANCE AND PUBLIC DISCLOSURE: Minnesota Statutes, Chapter 10A (adopted as the Ethics in Government Act) is incorporated herein by reference. This policy shall be con- strued and interpreted in consultation with the City Attorney according to Minnesota Statutes and case law. 16.3: GIFTS AND FAVORS: GIFTS AND FAVORS: No public official shall accept any gift, including but not limited to money, real or personal property, services, loans, mementos, food, beverages, or any other favor or thing, regardless of value, from any interested person except as follows: 16.3.1 a contribution as defined in Minn. Stat. Section 10A.01, Subd. 11. 16.3.2 services to assist an official in the performance of official duties, including but not limited to providing advice, consultation, information, and communication in connection with legisla- tion, and services to constituents. 9 of 10 16.3.3 services of insignificant monetary value. 16.3.4 a plaque or similar memento recognizing individual services in a field of specialty or to a charitable cause. 16.3.5 a trinket or memento costing $5 or less. 16.3.6 informational material of unexceptional value. 16.3.7 food or a beverage given at a reception, meal, or meeting away from the recipient's place of work by an organization before whom the recipient appears to make a speech or an- swer questions as part of a program. 16.3.8 received: (1) because of the recipient's membership in a group, a majority of whose members are not local officials, and an equivalent gift is given or offered to the other members of the group; (2) by an interested person who is a member of the family of the recipient, unless the gift is given on behalf of someone who is not a member of that family; or (3) by a national or multistate organization of governmental organizations or public offi- cials, if a majority of the dues to the organization are paid from public funds, to attendees at a conference sponsored by that organization, if the gift is food or a beverage given at a reception or meal and an equivalent gift is given or offered to all other attendees. 16.3.9 received in exchange goods or services of equal value. 16.4: USE OF EQUIPMENT AND FACILITIES: No public official shall request or permit the unauthor- ized use of City-owned vehicles, equipment, materials, property, labor or services for personal convenience or profit. 16.5: CONFLICT OF INTEREST: Except as authorized in Minn. Stat. 471.88, a public officer who is authorized to take part in any manner in making any sale, lease, or contract in official capacity shall not voluntarily have a personal financial interest in that sale, lease, or contract or personally benefit financially therefrom. (Minn. Stat. Section 471.87) 16.6 A public official or local official elected to or appointed by a metropolitan governmental unit who in the discharge of official duties would be required to take an action or make a decision that would substantially affect the official's financial interests or those of an associated business, unless the effect on the official is no greater than on other members of the official's business classification, profession or occupation, must take the following actions: 16.6.1 Advise the City Attorney of the potential conflict of interest as soon as possible, preferably before the meeting; and 16.6.2 The City Attorney shall determine whether a disqualifying conflict of interest exists. 16.6.3 Any commission member shall orally inform the EDA of the potential conflict and abstain from any participation in that agenda item if a conflict is determined to exist. 16.7: The purpose behind the creation of a rule, which would disqualify public officials from participating in proceedings in a decision-making capacity when they have a direct conflict of interest in its outcome, is to ensure that their decision will not be an arbitrary reflection of their own selfish interests. There is no settled general rule as to whether such an interest will disqualify an official. Each case must be decided on the basis of the particular facts present. Among the relevant factors that should be considered in mak- ing this determination are: (1) nature of the decision being made; (2) the nature of the pecuniary interest; (3) the number of officials making the decision who are interested; (4) the need, if any, to have interested persons make the decision; and (5) the other means available, if any, such as the opportunity for review, that serve to ensure that the officials will not act arbitrarily to further their selfish interests. 10 of 10 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: February 10, 2020 AGENDA #: 7A PREPARED BY: Amanda Schwabe, Planner AGENDA ITEM: EDA Wish List Promotion & Donation and Maintenance Agreement Template DISCUSSION: Introduction The purpose of this agenda report is to provide direction to staff on promotion of the finalized DA Wish List and approval of the Donation and Maintenance Agreement template. History At previous EDA meetings, members discussed the expansion of the #PLWorthIt campaign beyond its current focus of generating customer traffic in areas affected by road construction to a program which promotes public/private partnership investments in the community. The EDA Wish List identifies projects and amenities that are desired by the community but are not likely to be funded without private sponsorship. Throughout the fall of 2019, EDA provided direction to staff regarding refining the list and directed staff to develop donation agreement language. Current Circumstances Staff has finalized the EDA Wish List, created a #PLWorthIt page on the city website to highlight the #PLWorthIt campaign (including recently funded banner pole system and downtown mural) and developed a donation and maintenance agreement template. Conclusion Staff is requesting direction on what, if any, additional promotion of the EDA Wish List should be done and feedback on the Donation and Maintenance Agreement template. ISSUES: The Donation and Maintenance Agreement is a template for use with future EDA Wish List contributions. The language may need to be modified to reflect the unique attributes of each contribution. FINANCIAL Consideration should be given to the costs associated with different promotional IMPACT: opportunities. Staff was able to develop a flyer advertising the wish list in-house with the assistance of Ann Schroeder, therefore the previously approved marketing assistance of $2,000 has not been expended. ALTERNATIVES: 1. Motion and second providing direction to staff related to EDA Wish List promotion and utilization of the Donation and Maintenance Agreement template for future EDA Wish List contributions. 2. Continue discussion at a future meeting. Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com RECOMMENDED Alternative No. 1 MOTION: ATTACHMENT: 1. EDA Wish List 2. Donation and Maintenance Agreement Template 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: February 10, 2020 AGENDA #: 7B PREPARED BY: Casey McCabe, Community Development Director PRESENTED BY: Casey McCabe AGENDA ITEM: 4662 Dakota Street SE Property DISCUSSION: Introduction The purpose of this agenda item is to provide direction to staff related to the future use(s) of the home at 4662 Dakota Street SE. History During their January 13, 2019 meeting, the EDA approved a resolution approving the purchase of property at 4662 Dakota Street SE and authorized the EDA President and Executive Director to execute the purchase agreement and any documents necessary to close the transaction. Executive Director Wedel executed the closing documents on behalf of the EDA on January 31, 2020. Current Circumstances The EDA now owns the 4662 Dakota Street home and should discuss the future use of this property. The EDA may choose to remove the home, rent the home, or another option as determined by the EDA. City staff has toured the property and feel the home could potentially be rented; however, if redevelopment of this site is anticipated, it may make sense to remove the home for that purpose at this point. If it is to be rented, city staff anticipates a need for additional funds to replace appliances, HVAC systems or other repairs statement indicates an older roof and water getting into the basement during heavy rains. The city does rent the home next to this property and that experience has shown revenues are limited due to an average of $3,750 annually spent on property taxes, maintenance and repairs. The EDA also discussed the option of approaching the city council to see if the neighboring property at 4664 Dakota Street SE could be transferred from the City of Prior Lake to the Prior Lake EDA. If this property transfer were to occur, it may make sense for the EDA to remove both single-family homes to facilitate a commercial or mixed use redevelopment project. FINANCIAL The property was purchased for $275,000, plus closing costs. In addition to the IMPACT: acquisition costs, the EDA is responsible for property taxes for the remainder of 2020 and 2021 estimated at $5,750. There are additional costs whether the EDA decides to rent or demolish the home. Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com ALTERNATIVES: 1. Motion and second to provide direction to staff related to the future use(s) of the home at 4662 Dakota Street SE. 2. Provide direction to staff and continue discussion at a future meeting. RECOMMENDED Alternative No. 1 MOTION: