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Home My WebLink About03 14 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, March 14, 2022 – 4:00 p.m. Parkview Community Room 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 / March 14, 2022 1. CALL TO ORDER 2. WELCOME NEW EDA COMMISSIONER 3. APPROVAL OF AGENDA 4. APPROVAL OF MEETING MINUTES A. January 24, 2022 5. CONSENT AGENDA A. Development Update (2/28/2022) 6. REMOVED CONSENT AGENDA ITEMS 7. PRESENTATIONS A. Legislative Update 8. OLD BUSINESS 9. NEW BUSINESS A. Scott County FAST-TRACK Challenge Sponsorship Request B. Jeffers Pond First Addition Outlot Development Concepts 10. OTHER BUSINESS A. Staff Updates i. Dakota Street Redevelopment Update 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 Monday, January 24, 2022 1. CALL TO ORDER Vice-President Boucher-Hoese called the meeting to order at 4:04 p.m. In attendance were Boucher-Hoese, Braid, Briggs, and Prchal. Also present were Executive Director Jason Wedel, staff Liaison Casey McCabe, Community Development Services Assistant Sandra Peppin, Bill Beard and John Gumbrill with Prior Lake B Squared Ventures, and Jeff Wrede and Nick Jackson with Momentum Design Group. 2. ELECTION OF OFFICERS EDA Members nominated Kim Prchal as President of the EDA and Marie Boucher-Hoese to remain Vice President of the EDA. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPOINT PRCHAL AS PRESIDENT AND BOU- CHER-HOESE TO REMAIN AS VICE PRESIDENT, ERICKSON TO REMAIN AS TREASURER, WEDEL TO REAMIN AS SECRETARY; AND MCCABE TO REMAIN AS ASSISTANT TREASURER. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 3. APPROVAL OF AGENDA MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPROVE THE AGENDA. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 4. APPROVAL OF MEETING MINUTES MOTION BY BRIGGS, SECONDED BY BRAID TO APPROVE THE DECEMBER 21, 2021 MEETING MINUTES. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 5. CONSENT AGENDA A. Year-End Development Update (12/31/2021) MCCABE provided an overview of the residential and commercial development activity for year-end 2021, not- ing the city had one of its largest development years since 2006 based on building permit valuation. EDA MEMBERS commented on how Prior Lake is a great place to live, work, and play. B. EDA Revenue & Expenditure Report (12/31/2021) MCCABE reviewed the 2021 year-end EDA revenues and expenditures. C. Arts and Culture Committee Appointment MCCABE informed the EDA the purpose of item 5C on the Consent Agenda was to re-appointment EDA Commissioner Boucher-Hoese to the Arts and Culture Committee. MOTION BY BRIGGS, SECONDED BY BRAID TO APPROVE THE CONSENT AGENDA. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. 6. REMOVED CONSENT AGENDA ITEMS None 7. PRESENTATIONS A. Dakota Street Redevelopment Concept (Prior Lake B Squared Ventures, LLC) Agenda item was moved to the beginning of meeting to allow for the presentation of a 4662, 4664 and 4666 Dakota Street redevelopment concept by Prior Lake B Squared Ventures and Momentum Design Group. BILL BEARD, Development Principal with Prior Lake B Squared Ventures explained the layout of the plan, why they see this location as desirable and introduced Mr. Jeff Wrede, Partner; and Nick Jackson, Senior Designer with Momentum Design Group. JEFF WREDE gave an overview of the site, proximity to the lake, adjacent trails, and downtown area. He stated some challenges of the site, including slopes from front to back. He commented on the parking, elevators, restau- rant, stormwater needs, and shadow study. EDA MEMBERS asked about Gateway Park impacts, trails, and suggested ideas for design. They stated their in- terest to share this information with community residents and businesses. They asked when this project would get introduced to the Council and anticipation of timelines for necessary city reviews and approvals prior to building construction. Mr. Bill Beard answered questions, gave some brief timelines, and suggested a future workshop with Council. 8. OLD BUSINESS 9. NEW BUSINESS A. Economic Development Authority Vacancy MCCABE stated following the resignation of Dave Chromy at the end of 2021, staff placed a notification of the vacant EDA position on the city website and in the Prior Lake American. To date, five applications have been received. The next step is for the EDA to establish a screening committee to review applications and interview candidates. MCCABE explained the eligibility to serve on the EDA and suggested that the EDA will need to determine which City Council Liaison and which non-Council member of the EDA will be on the screening committee. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPOINT PRCHAL AND BRAID TO THE SCREENING COMMITTEE. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. Absent were Chromy. The motion carried 4-0. B. OTHER BUSINESS A. Staff Updates i. 16298 Main Avenue Lease Agreement MCCABE updated the EDA on the status of the lease agreement for the 16298 Main Avenue property stating a lease agreement has been drafted and provided to the tenant and he an- ticipated it would be signed shortly. B. Commissioner Comments i. Arts and Culture Committee BOUCHER-HOESE provided an update of recent Arts and Culture Committee Activities. PRCHAL provided the EDA with a summary of an email she received from a local business owner who wishes to provide a donation to the EDA to enhance commercial opportunities. WEDEL will discuss a potential donation to the EDA with the Finance Director and update the commissioners. ADJOURNMENT MOTION BY BRIGGS, SECONDED BY BRAID TO ADJOURN THE MEETING. Ayes by Boucher-Hoese, Braid, Briggs, Prchal. The motion carried 4-0. The meeting adjourned at 5:30 p.m. Submitted by Sandra Peppin 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 14, 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 to date residential and commercial development update as of February 28, 2022. 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 February 28, 2022. 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: March 14, 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 February 28, 2022. Single Family Dwellings 21 $8,165,635.00 23 $9,275,004.00 Townhouses (# units)0 $0.00 0 $0.00 Multiple Units 0 $0.00 0 $0.00 New Commercial Industrial & Commercial 0 $0.00 1 $1,162,866.00 Residential 74 $1,707,386.00 91 $1,773,670.84 Industrial & Commercial 3 $63,967.59 3 $18,616.00 tMechanical 132 $0.00 144 $0.00 ttMechanical (SF & TH)84 $0.00 92 $0.00 TOTALS 314 $9,936,988.59 354 $12,230,156.84 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 -8.70% #DIV/0! #DIV/0! -100.00% -18.68% 0.00% Number of Permits Declared Value -11.30% 2022 Year to Date 2021 Year to Date New Residential -8.33% -8.70% Number of Permits % Increase / Decrease Increase/Decrease Declared Value % Increase / Decrease -11.96% #DIV/0! #DIV/0! -18.75% -100.00% -3.74% 243.62% n/a n/a 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 14, 2022 AGENDA #: 7A PREPARED BY: PRESENTED BY: Casey McCabe, Community Development Director Jason Wedel, City Manager/EDA Executive Director Kirt Briggs, Mayor/EDA Commissioner AGENDA ITEM: Legislative Update DISCUSSION: Introduction City Manager/EDA Executive Director, Jason Wedel and Mayor/EDA Commis- sioner, Kirt Briggs will provide the EDA with a Legislative Update. Wedel and Briggs will discuss the work being completed by the City of Prior Lake, SCALE, League of Minnesota Cities, Municipal Legislative Commission, and other organizations to promote sound legislation and combat inaccurate in- formation that is being presented to the elected officials by other organizations in support of legislation to limit local zoning and housing controls under the guise of “affordability”. ALTERNATIVES: Discussion Only. 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 14, 2022 AGENDA #: 9A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Scott County FAST-TRACK Challenge Sponsorship Request DISCUSSION: Introduction The purpose of this agenda item is to consider sponsoring the Scott County FAST- TRACK Challenge. History The first Scott County FAST-TRACK Challenge was initiated and hosted by the Prior Lake Technology Village Business Accelerator Program in 2017. The event is now hosted by the Scott County Center for Entrepreneurship following the merger of Technology Village program into the county-wide program. Current Circumstances The 6th Annual Scott County FAST-TRACK Challenge will be held on Thursday, Oc- tober 13, 2022 at Savage City Hall. The Scott County Center for Entrepreneurship sent a request to all Scott County communities seeking donations with a goal of $20,000 in cash and in-kind services for this year’s event. To date, they have se- cured $3,750 in cash contributions and $4,900 of in-kind contributions. In the past, the Prior Lake EDA and City has donated items such as the refresh- ments for the event, funds for the trophy, the venue for the Challenge, and staff for recording the event. Conclusion The EDA is being asked to consider a donation for the 2022 FAST-TRACK Chal- lenge event. If willing, the EDA could sponsor various items needed (e.g., marketing, banners, trophy, refreshments, etc.) or provide a cash contribution which would go toward the prize package. All sponsors and service providers receive recognition in the Scott County SCENE, social media, Scott County FAST-TRACK website, the program, and video. ISSUES: The EDA should discuss what sponsorship amount, if any, they wish to donate and if the donation should be used for any specific purpose. FINANCIAL IMPACT: The EDA Professional Services or Miscellaneous accounts in the 2022 EDA Budget may be used. ALTERNATIVES: 1. Motion and second to authorize a FAST-TRACK Challenge sponsorship contri- bution in a specific amount and, if desired, for a specific purpose. 2. Motion and second to deny the request for sponsorship. RECOMMENDED MOTION: ATTACHMENT: Alternative No. 1 Sponsorship Agreement Form Scott County SPONSORSHIP AGREEMENT The Scott County FAST-TRACK Challenge is a business competition open to Scott County residents, or businesses willing to locate in Scott County, that have incorporated within the past five years, who wish to pitch their new product or idea to a panel of judges with the hope to fast track their business! The Challenge is coordinated by the Scott County CDA’s Center for Entrepreneurship. The live event will be held on Thursday, October 13, 2022. Prizes will include cash and professional service packages. As a sponsor and/or service provider, you will receive the following: • Recognition on all print/marketing materials. • Recognition on social media • Recognition in the FAST-TRACK Challenge video • Recognition at the live event • Media exposure in post event announcements • Sponsors may be provided a seat on the panel of judges • Table at the event to market your company Please select your desired level of participation: Sponsorship Levels: _____ Gold ($5,000). Gold Level Sponsorship provides the company with the opportunity to be eligible for a seat on the judges’ panel. Gold sponsors will receive media exposure including social media, print, video and recognition at the live event. Gold sponsors’ logos will be included on a banner at the event. _____ Silver ($2,500). Silver Level Sponsors will be recognized through social media, print advertising, videos and recognition at the live event. Silver sponsors’ logos will be included on a banner at the event. _____ Bronze ($1,000). Bronze Level Sponsors will be recognized through social media, print advertising, videos and recognition at the live event. _____ Copper $_____ (Insert amount). Sponsors will be recognized through social media, print advertising, videos and recognition at the live event. *All sponsors will be provided an opportunity to display information at the event, in the staging/refreshment area, if desired. A table will be provided. If interested in a display table, please check here: _____ As a Sponsor your signature certified you agree to the following: 1. Sponsors shall provide a check to the Scott County CDA, who will in turn write a check(s) to the qualified winner(s). Funds will be restricted to be used for the business development. 2. Sponsors agree to allow FAST-TRACK Challenge (Scott County CDA - CFE to use their corporate names and logos on marketing materials, unless they wish to remain anonymous. If you wish to remain anonymous please check here: ____ Sponsor Information Company Name: ________________________________________________________________ Contact Name: _________________________________________________________________ Title of Authorized Representative: ________________________________________________ Address: ____________________________________ City: ______________________________ State: ____________ Zip Code: ________________ Phone #:__________________________ Email Address: _______________________________ Signature of Authorized Representative: ____________________________________________ Date: _________________________________________________________________________ 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 14, 2022 AGENDA #: 9B PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Jeffers Pond First Addition Outlot Development Concepts DISCUSSION: Introduction The purpose of this agenda item is to receive EDA feedback related to two sepa- rate multi-family development concepts for Outlot B and Outlot C, Jeffers Pond First Addition. History The original Planned Unit Development (PUD) Plan for Jeffers Pond was ap- proved in 2005. Since that time, nearly all the residential neighborhoods have been developed, as well as the streets, public park/trail system, the elementary school, and fire station. Two outlots remain undeveloped including Outlot B (9.3 acres) and Outlot C (21.6 acres). Previous PUD amendments have resulted in a shift of higher-density residential developments and commercial projects to the last remaining outlots. The current approved PUD plan anticipated a minimum of 260 residential units, with a target of 318 units, and 87,000 square feet of commercial development. With the proposed residential projects (totaling 415 units) it is not known if the remainder of the developable property can support the anticipated commercial square footage. Current Circumstances City staff will share the current concept plans with the EDA during their March 14th meeting. The EDA will discuss the anticipated amount of commercial devel- opment and provide staff with direction for upcoming discussions with the prop- erty owners and developers. ALTERNATIVES: Discussion Only.