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Home My WebLink About01 10 2022 EDA Agenda Packet 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, January 10, 2022 – 4:00 p.m. Reports included with this agenda can be found on the City of Prior Lake website at www.cityofpriorlake.com Please follow this file path: Agendas & Minutes / Economic Development Authority / 2022 / January 10, 2022 1. CALL TO ORDER 2. ELECTION OF OFFICERS 3. APPROVAL OF AGENDA 4. APPROVAL OF MEETING MINUTES A. December 21, 2021 5. CONSENT AGENDA A. Year-End Development Update (12/31/2021) B. EDA Revenue & Expenditure Report (12/31/2021) C. Arts and Culture Committee Appointment 6. REMOVED CONSENT AGENDA ITEMS 7. PRESENTATIONS A. Dakota Street Redevelopment Concept (Prior Lake B Squared Ventures, LLC) 8. OLD BUSINESS 9. NEW BUSINESS A. Economic Development Authority Vacancy 10. OTHER BUSINESS A. Staff Updates i. 16298 Main Avenue Lease Agreement B. Commissioner Comments i. Arts and Culture Committee 11. ADJOURNMENT Phone 952.447.9800 / Fax 952.447.4245 / www.cityofpriorlake.com 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes Tuesday, December 21, 2021 1. CALL TO ORDER Vice-President Boucher-Hoese called the meeting to order at 4:03 p.m. In attendance were Boucher-Hoese, Braid, Briggs, and Prchal. Absent was Chromy. Also present were Staff Liaisons Casey McCabe and Jason Wedel, and Community Development Services Assistant Sandra Peppin. 2. APPROVAL OF AGENDA MOTION BY BOUCHER-HOESE, SECONDED BY BRAID TO APPROVE THE AGENDA. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 3. APPROVAL OF MEETING MINUTES MOTION BY PRCHAL, SECONDED BY BRAID TO APPROVE THE OCTOBER 11, 2021 MEETING MINUTES. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 4. CONSENT AGENDA A. Development Update (11/30/2021) MCCABE provided an overview of the residential and commercial development activity year to date. MOTION BY PRCHAL, SECONDED BY BRAID TO APPROVE THE CONSENT AGENDA. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 5. REMOVED CONSENT AGENDA ITEMS None 6. PRESENTATIONS None 7. OLD BUSINESS A. 4528 Colorado Street Repair Costs MCCABE informed the EDA that city staff met with Scott County CDA staff to inspect the Colorado Street property the EDA purchased in November. The intent was for CDA staff to identify what improvements may be necessary for the CDA to manage this property as a rental until future redevelopment opportunities are known. McCabe shared the list of needed repairs and estimated cost with the EDA. BRAID asked what the amount of rent would be anticipated. MCCABE suggested some rental prices pertaining to this property. WEDEL commented on potential CDA management of the property and rental revenues, less management and re- pair costs, would be received by the EDA. PRCHAL asked about other options for this property, including possible removal of the house. WEDEL commented on the desire to keep the home in place as it may be needed if the city/EDA pursued redevel- opment TIF in the future. MCCABE stated if improvements were made the property may not qualify as a substandard property for future TIF consideration. WEDEL said he would like to not have this property look like any eyesore and if nothing will be done with it, he would like it to be removed. BRIGGS suggested leaving the house as it is for now and reevaluate options in a year or two. BRIGGS asked if the site is more marketable with a home on it or as a vacant lot. EDA Members suggested looking into marketing this site next spring as a redevelopment opportunity in combina- tion with the city-owned lot near the Arcadia intersection. MOTION BY BRAID, SECONDED BY PRCHAL DIRECTING STAFF TO WINTERIZE THE HOUSE AND LEAVE VACANT FOR NOW AND REEVALUATE OPPORTUNITIES NEXT SPRING. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. B. Approved 2022 EDA Budget MCCABE informed the EDA their 2022 Budget as requested in July 2021 was approved by the City Council at their December 6, 2021 meeting. 8. NEW BUSINESS A. Sebastian Automotive Lease Agreement MCCABE requested direction from the EDA related to a potential lease agreement with Sebastian Automotive for the EDA-owned property at 16298 Main Avenue. Sebastian Automotive has occupied the property for sev- eral years and there is no formal lease agreement in place. The EDA assumed Sebastian Automotive as a tenant when the property was purchased by the EDA with the same lease rate being paid to the two previous owners. McCabe informed the EDA that Sebastian Automotive may have interest in purchasing the property and if the EDA did not want to sell, Sebastian Automotive would prefer a three-to-five-year lease term. EDA Members reviewed and commented on a draft lease agreement. Discussion included maintenance re- sponsibilities, rental rates, property taxes, rent term of one year with option to renew for an additional one year, termination language, what tenant entity should be listed on the lease agreement, MCCABE stated staff will incorporate comments received by the EDA and review lease terms with the City At- torney prior to presenting the agreement to Sebastian Automotive for review. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO DIRECT STAFF TO PURSUE A ONE YEAR LEASE WITH DICK HAUGH AS EDITED BY THE EDA FOR EDA-OWNED PROPERTY AT 16298 MAIN AV- ENUE SE. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. Absent were Chromy. The motion carried 4-0. 9. OTHER BUSINESS A. Staff Updates i. 4662-4666 Dakota Street SE Redevelopment MCCABE shared a concept plan for the Dakota Street redevelopment site received from Prior Lake B Squared Ventures. EDA Members discussed the building design, parking, restaurant space, Gateway Park impacts and an- ticipated construction timing. MCCABE informed the EDA representatives from Prior Lake B Squared Ventures will be invited to the January EDA meeting to present their concept plan and answer questions. ii. Downtown South Redevelopment Update MCCABE shared there has been no recent activity related to a downtown south redevelopment of the VFW block. One downtown property owner approached the city to see if there would be interest in ac- quiring their downtown property. EDA Members discussed a potential acquisition and provided direction to staff to follow up with the property owner to see if the home could be acquired at a fair market price. B. Commissioner Comments i. Small Business Saturday Proclamation MCCABE informed the EDA the City Council proclaimed the Saturday after Thanksgiving as Small Business Saturday in Prior Lake. BRIGGS commented the proclamation was well received and indications are Prior Lake businesses did very well on Small Business Saturday. ii. Arts and Culture Committee Boucher-Hoese updated the EDA on activities of the Arts and Culture Committee, including appoint- ment of officer positions. iii. Resignation of Dave Chromy WEDEL informed the EDA that Dave Chromy submitted his resignation from the EDA effective De- cember 31, 2021. Mr. Wedel explained the process for appointing a new commissioner to serve the remainder of Mr. Chromy’s term. EDA Members thanked Mr. Chromy for all the important work he has done for the City of Prior Lake as an EDA Commissioner. ADJOURNMENT MOTION BY PRCHAL, SECONDED BY BRAID TO ADJOURN THE MEETING. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. The meeting adjourned at 5:15 p.m. Submitted by Sandra Peppin 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 10, 2022 AGENDA #: 2 PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Election of Officers DISCUSSION: Introduction Article 5.1 of the EDA Bylaws state that the officers of the EDA shall be elected at the first meeting of the year. Officers include President, Vice-President, Treasurer, Secretary, and Assistant Treasurer. History The 2021 elected EDA officers are: Dave Chromy as President; Marie Boucher- Hoese as Vice-President; Cathy Erickson as Treasurer; Jason Wedel as Secre- tary; and Casey McCabe as Assistant Treasurer. Current Circumstances All EDA Commissioners are eligible to become officers for 2022. The EDA Bylaws provide that the city’s Finance Director be designated as the Treasurer, and the bylaws further allow non-commissioners to hold the officer po- sitions of Secretary and Assistant Treasurer. In previous years, the City Manager / EDA Executive Director has been elected Secretary and the Community Devel- opment Director has been elected Assistant Treasurer. Conclusion The 2022 EDA officers of President, Vice-President, Treasurer, Secretary and As- sistant Treasurer should be elected by the EDA Commissioners on January 10th. FINANCIAL IMPACT: None ALTERNATIVES: 1. Motion(s) and second(s) to elect EDA officers for 2022. 2. Table the election. RECOMMENDED MOTION: Alternative No. 1 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 10, 2022 AGENDA #: 5A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Development Update DISCUSSION: Introduction The purpose of this agenda item is to review the year-end residential and com- mercial development update as of December 31, 2021. History EDA Commissioners requested an update of residential and commercial activity at each meeting. Conclusion The attached memorandum provides a summary of the residential and commer- cial development in the City of Prior Lake as of December 31, 2021. 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: January 10, 2022 To: City of Prior Lake Economic Development Authority From: Casey McCabe, Community Development Director Subject: Residential & Commercial Activity Update Below is an update of the year-end residential and commercial development in the City of Prior Lake as of December 31 2021. Single Family Dwellings 132 $52,842,900.00 158 $54,438,682.00 Townhouses (# units)0 $0.00 4 $832,206.00 Multiple Units 0 $0.00 0 $0.00 New Commercial Industrial & Commercial 7 $10,969,859.00 6 $8,779,413.00 Residential 1318 $18,193,384.05 1498 $10,500,618.34 Industrial & Commercial 32 $2,398,268.46 14 $5,289,550.00 tMechanical 822 $0.00 750 $0.00 ttMechanical (SF & TH)528 $0.00 648 $0.00 TOTALS 2839 $84,404,411.51 3078 $79,840,469.34 5.72% 24.95% 73.26% -54.66% n/a n/a 2021 Year to Date 2020 Year to Date New Residential 9.60% -18.52% Number of Permits % Increase / Decrease Increase/Decrease Declared Value % Increase / Decrease -2.93% -100.00% #DIV/0! t Mechanical permits include but are not limited to furnaces, water heaters, softeners, and fireplaces. They are flat-rate permit fees. 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 Additions and Alterations Number of Permits Declared Value -16.46% -100.00% #DIV/0! 16.67% -12.02% 128.57% Number of Permits Declared Value -7.76% Name Address Type (New/Relocation/Expansion) Previous Tenant/Owner New SF Accelerated Auto Service & Repair 5835 Granite Ct. SE New Construction Vacant 8,340 Deerfield Storage - Phase II 17101 Adelmann St. SE New Construction Vacant 10,200 Suite Living of Prior Lake 5600 Credit River Road SE New Construction Vacant 20,277 Prior Lake Pet Hospital 16680 Franklin Trail SE Addition Building Addition 746 Bliss Family Dental 4792 Dakota St. SE Addition Building Addition 830 Brink Storage Condos 17205 & 17217 Adelmann St. SE New Construction Vacant 67,899 Lil' Explorers Daycare 3880 Fountain Hills Drive NW New Construction Vacant 16,788 TOTAL 125,080 2021 Prior Lake Commercial Activity (New Construction) 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 10, 2022 AGENDA #: 5B PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: EDA Revenue & Expenditure Report DISCUSSION: Introduction The purpose of this consent agenda item is to review the 2021 year-end EDA Revenue & Expenditure Report. History EDA Commissioners requested financial reports are provided on a quarterly basis. Current Circumstances Total EDA revenues were $378,036 (104% of budget) and expenditures were $853,392 (162.6% of budget). The primary source of revenue was the property tax levy ($348,660) and the primary expendi- ture of $619,131 was related to the acquisition of two properties. 2021 EDA expenditures primarily relate to staff wages and benefits as anticipated and budgeted as well as two property acquisitions; 16298 Main Avenue ($377,868) and 4528 Colorado Street ($241,263) The EDA budgeted $380,000 in Professional Services – General anticipating one property acquisition in 2021; however, the expenditures came from Projects – Property & ROW Acquisition. During 2021 the EDA decided to move forward with both property acquisitions using a portion of EDA reserve funds. Another significant 2021 expenditure was $90,000 in the Professional Services – Gen- eral expenditure which is related to forgiveness of the EDA restaurant relief forgivable loans. Technology Village revenues were $2,435 (29% of budget) and expenditures were $1,232 (22% of budget). Technology Village facility revenues and expenditures were lower than the original budget due to the program transitioning from the EDA to the Scott County CDA in 2021. Conclusion EDA members receive quarterly financial reports of revenues and expenditures. ISSUES: There will be additional year-end adjustments, including payroll, paid in January that will be posted back to the period ending December 31, 2021, and a final Scott County property tax levy adjustment received mid-January. ALTERNATIVES: 1. Motion and a second, under the Consent Agenda, to accept the EDA Revenue & Expenditure Report. 2. Remove this item from the consent agenda for additional discussion. RECOMMENDED MOTION: Alternative No. 1 ATTACHMENTS: 1. EDA Revenue & Expenditure Report *NOTE: Available Balance / Pct Budget Used does not reflect amounts encumbered. REVENUE AND EXPENDITURE REPORT FOR CITY OF PRIOR LAKE 1/2Page:01/05/2022 12:01 PM User: cmccabe DB: Prior Lake PERIOD ENDING 12/31/2021 % BDGT USED AVAILABLE BALANCE ACTIVITY FOR MONTH 12/31/2021 YTD BALANCE 12/31/2021 2021 AMENDED BUDGETDESCRIPTIONGL NUMBER Fund 240 - EDA SPECIAL REVENUE FUND Revenues Dept 00000.00 - GENERAL 99.69 1,090.10 163,551.90 348,659.90 349,750.00 Current Property Taxes - General Purpos240-00000.00-31010.00 0.00 0.00 0.00 0.00 0.00 Fiscal Disparities240-00000.00-31040.00 0.00 0.00 0.00 0.00 0.00 Market Value Credit Aid240-00000.00-33423.00 0.00 0.00 0.00 0.00 0.00 Administrative Charges240-00000.00-34111.00 93.98 318.93 0.00 4,981.07 5,300.00 Interest Earnings240-00000.00-36210.00 100.00 5,155.76 0.00 (5,155.76)0.00 Unrealized Inv.Gain(Loss)240-00000.00-36225.00 0.00 0.00 0.00 0.00 0.00 Contributions & Donations240-00000.00-36230.00 0.00 0.00 0.00 0.00 0.00 Contribution (Other Fund)240-00000.00-37901.00 100.00 (20,969.25)140.41 20,969.25 0.00 Transfer from Other Funds240-00000.00-39203.00 104.06 (14,404.46)163,692.31 369,454.46 355,050.00 Total Dept 00000.00 - GENERAL Dept 46500.00 - ECONOMIC DEVELOPMENT 0.00 0.00 0.00 0.00 0.00 County-City Aids/Grants - Operating EDA240-46500.00-33610.14 100.00 (6,147.00)6,147.00 6,147.00 0.00 Facility Rental - EDA240-46500.00-34760.02 0.00 0.00 0.00 0.00 0.00 Prof Service Fee Deposit - EDA240-46500.00-36220.14 100.00 (6,147.00)6,147.00 6,147.00 0.00 Total Dept 46500.00 - ECONOMIC DEVELOPMENT Dept 46503.00 - TECH VILLAGE INCUBATOR 28.82 6,014.98 0.00 2,435.02 8,450.00 Facility Rental - EDA240-46503.00-34760.02 28.82 6,014.98 0.00 2,435.02 8,450.00 Total Dept 46503.00 - TECH VILLAGE INCUBATOR 104.00 (14,536.48)169,839.31 378,036.48 363,500.00 TOTAL REVENUES Expenditures Dept 46500.00 - ECONOMIC DEVELOPMENT 98.38 1,720.39 9,606.13 104,481.61 106,202.00 Wages - Full Time240-46500.00-51100.01 98.57 42.79 100.00 2,957.21 3,000.00 Wages - Commissioners240-46500.00-51100.05 100.00 (120.15)0.00 120.15 0.00 Overtime - Full Time240-46500.00-51110.01 0.00 0.00 0.00 0.00 0.00 Sick Leave - Buy Down240-46500.00-51208.01 0.00 0.00 0.00 0.00 0.00 Accrued Comp Time240-46500.00-51301.00 95.03 31.65 44.07 605.35 637.00 Compensated Absences240-46500.00-51400.00 97.89 142.60 581.27 6,628.40 6,771.00 Social Security Contributions240-46500.00-51450.00 97.94 32.68 135.95 1,550.32 1,583.00 Medicare Contributions240-46500.00-51451.00 97.76 179.78 720.46 7,845.22 8,025.00 PERA Contributions240-46500.00-51460.00 95.83 327.16 327.08 7,522.84 7,850.00 Health Insurance240-46500.00-51470.00 98.51 3.57 16.43 236.43 240.00 Retiree HCSP Contributions240-46500.00-51472.00 45.83 292.50 0.00 247.50 540.00 Dental Insurance240-46500.00-51473.00 96.74 2.22 2.86 65.78 68.00 Life Insurance240-46500.00-51474.00 115.44 (96.94)0.00 724.94 628.00 Workers Compensation Insurance240-46500.00-51477.00 0.00 0.00 0.00 0.00 0.00 Office Supplies240-46500.00-52010.00 10.31 1,793.75 0.00 206.25 2,000.00 Legal Services240-46500.00-53020.00 26.26 280,193.38 764.42 99,806.62 380,000.00 Professional Services - General240-46500.00-53100.80 0.00 250.00 0.00 0.00 250.00 Telecommunications240-46500.00-53210.00 0.00 500.00 0.00 0.00 500.00 Training and Employee Development240-46500.00-53310.10 0.00 0.00 0.00 0.00 0.00 Required Notice Publication240-46500.00-53510.00 0.00 0.00 0.00 0.00 0.00 Maint Agreements Misc Bldg & Structures240-46500.00-54010.51 *NOTE: Available Balance / Pct Budget Used does not reflect amounts encumbered. REVENUE AND EXPENDITURE REPORT FOR CITY OF PRIOR LAKE 2/2Page:01/05/2022 12:01 PM User: cmccabe DB: Prior Lake PERIOD ENDING 12/31/2021 % BDGT USED AVAILABLE BALANCE ACTIVITY FOR MONTH 12/31/2021 YTD BALANCE 12/31/2021 2021 AMENDED BUDGETDESCRIPTIONGL NUMBER Fund 240 - EDA SPECIAL REVENUE FUND Expenditures 0.00 500.00 0.00 0.00 500.00 Memberships and Subscriptions240-46500.00-54310.00 5.99 470.04 0.00 29.96 500.00 Miscellaneous Expense240-46500.00-54320.00 100.00 (619,130.73)0.00 619,130.73 0.00 Projects - Property & ROW Acquisit'n240-46500.00-55040.00 0.00 0.00 0.00 0.00 0.00 Projects - Professional Services240-46500.00-55050.00 164.10 (332,865.31)12,298.67 852,159.31 519,294.00 Total Dept 46500.00 - ECONOMIC DEVELOPMENT Dept 46503.00 - TECH VILLAGE INCUBATOR 0.00 0.00 0.00 0.00 0.00 Office Supplies240-46503.00-52010.00 0.00 500.00 0.00 0.00 500.00 Small Equipment - General240-46503.00-52400.10 107.20 (72.00)0.00 1,072.00 1,000.00 Legal Services240-46503.00-53020.00 0.00 0.00 0.00 0.00 0.00 Professional Services - Software Design240-46503.00-53100.60 0.00 0.00 0.00 0.00 0.00 Telecommunications240-46503.00-53210.00 0.00 0.00 0.00 0.00 0.00 Rent Subsidies240-46503.00-54095.00 2.34 3,418.00 0.00 82.00 3,500.00 Business Assistance240-46503.00-54100.00 0.00 0.00 0.00 0.00 0.00 Memberships and Subscriptions240-46503.00-54310.00 100.00 (78.28)0.00 78.28 0.00 Miscellaneous Expense240-46503.00-54320.00 0.00 0.00 0.00 0.00 0.00 Building & Building Improvements240-46503.00-55520.00 0.00 500.00 0.00 0.00 500.00 Furniture and Office Equipment240-46503.00-55560.00 0.00 0.00 0.00 0.00 0.00 Machinery and Equipment240-46503.00-55570.00 22.41 4,267.72 0.00 1,232.28 5,500.00 Total Dept 46503.00 - TECH VILLAGE INCUBATOR 162.61 (328,597.59)12,298.67 853,391.59 524,794.00 TOTAL EXPENDITURES 294.71 314,061.11 157,540.64 (475,355.11)(161,294.00)NET OF REVENUES & EXPENDITURES 162.61 (328,597.59)12,298.67 853,391.59 524,794.00 TOTAL EXPENDITURES 104.00 (14,536.48)169,839.31 378,036.48 363,500.00 TOTAL REVENUES Fund 240 - EDA SPECIAL REVENUE FUND: 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 10, 2022 AGENDA #: 5C PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Arts and Culture Committee Appointment DISCUSSION: Introduction The purpose of this agenda item is to consider the re-appointment of EDA Commis- sioner Boucher-Hoese to the Arts and Culture Committee. Current Circumstances Section 203. Appointment, of the Arts and Culture Committee Bylaws states, The Committee shall consist of a minimum of three (3) and no more than seven (7) mem- bers appointed by te EDA. The Committee shall consist of a minimum of one (1) member of the EDA and several residents, business sowners or other interested parties. All appointed Committee members, including the EDA member, shall be a full voting member of the Committee. Conclusion Staff is recommending the re-appointment of EDA Commissioner Marie Boucher- Hoese to the Arts and Culture Committee. ALTERNATIVES: 1. Motion and a second, under the Consent Agenda, appointing Marie Boucher- Hoese to the Arts and Culture Committee for a term of January 1, 2022 to De- cember 31, 2022. 2. Remove this item from the consent agenda for additional discussion. RECOMMENDED MOTION: Alternative #1 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 10, 2022 AGENDA #: 9A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Economic Development Authority Vacancy DISCUSSION: Introduction Dave Chromy submitted a letter of resignation from the EDA effective December 31, 2021. The purpose of this agenda item is to update the EDA on the process for appointment of an EDA commissioner to serve the remainder of the Mr. Chromy’s term. History The Prior Lake Economic Development Authority consists of five (5) commis- sioners comprised of two (2) commissioners from the City Council and three (3) commissioners appointed from the public. The appointments are be made by the Mayor and approved by the City Council. The commissioners appointed from the public are appointed for six (6) year terms beginning on January 1 and conclud- ing on December 31. Current Circumstances Dave Chromy, who was a non-Council appointment to the Economic Develop- ment Authority, submitted a letter of resignation from the EDA effective Decem- ber 31, 2021. Mr. Chromy was re-appointed to the EDA for a six (6) year term beginning on January 1, 2019 and expiring on December 31, 2024. Article 3.4 of the EDA Bylaws addresses filling a vacancy on the EDA. If any commissioner appointed from the public resigns, is terminated, reaches a term limit, or otherwise vacates a seat of the Committee, the Prior Lake City Council shall appoint a replacement in the following manner: ➢ Applications are solicited. A notice of the vacancy is made public, and indi- viduals may be encouraged to consider the position. The notice shall state the deadline for submitting applications. ➢ Screening Committee. The City Manager or their designee, the City Council liaison to the committee, the staff liaison to the committee, and one member of the committee appointed by majority vote of the committee shall serve as the Screening Committee. ➢ Appointment. The Screening Committee for EDA vacancies shall narrow the candidates down to up to three (3) finalists per vacancy. The names of appli- cants are private data. Once finalists have been selected, the names of the finalists become public data. The finalists shall be interviewed 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 count- 2 ed 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 Council does not approve the finalist appointed by the Mayor, the Mayor may appoint one of the other finalists for Council approval or may reopen the va- cancy to the public for new candidates. To be eligible to serve on the EDA, an individual must either: • Be a resident of the City; or • Be in a management position at or hold a controlling financial interest in a business located within Prior Lake. Members of the public appointed to serve on the EDA must have relevant expe- rience 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 indi- vidual should have experience working in a team environment, have good com- munication and problem-solving skills and have the time and creativity to serve and actively contribute as a commissioner. Preferred candidates should have a work history that includes serving in a man- agement and decision-making position. The individual should have experience working in a team environment, have good communication and problem-solving skills and have the time and creativity to serve and actively contribute as a com- missioner. Conclusion City staff will post a notice seeking applicants for the EDA on the City of Prior Lake website and publish a notice of the available position in the Prior Lake American with an application deadline of Friday, February 4, 2022. Submitted applications will be reviewed by a screening committee consisting of the City Manager, a City Council liaison to the EDA, the staff liaison to the EDA, and one non-Council member of the EDA. The screening committee shall narrow the candidates to up to three (3) finalists and finalist interviews will then be sched- uled with the City Council. ISSUES: The EDA will need to determine which City Council Liaison and which non- Council member of the EDA will be on the screening committee. FINANCIAL IMPACT: EDA commissioners are 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. In addition to receiving a per diem for attending meetings, the commissioners may be reimbursed for actual expenses incurred in doing official business of the EDA. All money paid for compensation or reimbursement is paid out of the EDA's budget. ALTERNATIVES: 1. Motion and second to appoint one (1) City Council Liaison and one (1) non- Council member of the EDA to serve on the screening committee. 2. Provide direction to staff and continue discussion at a future meeting. RECOMMENDED MOTION: Alternative No. 1