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Home My WebLink About02 12 2024 EDA Minutes PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY MINUTES Monday, February 12, 2024 – 4:00 p.m. WagonBridge Conference 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 / 2024 / February 12, 2024 1. CALL TO ORDER Chair Prchal called the meeting to order at 4:04 p.m. In attendance were Prchal, Marco, Boucher-Hoese, Briggs and Braid. Also present were Executive Director Wedel, staff Liaison McCabe, and Deputy City Clerk / Administrative Assistant Kooiman 2. ELECTION OF OFFICERS The 2024 EDA officers of President, Vice-President, Treasurer, Secretary and Assistant Treasurer were discussed and elected by the EDA Commissioners. MOTION BY BRIGGS, SECONDED BY MARCO TO CONTINUE WITH THE 2023 ELECTED OFFICERS KIM PRCHAL AS PRESIDENT, MARIE BOUCHER-HOESE AS VICE PRESIDENT, CATHY ERICKSON AS TREASURER, JASON WEDEL AS SECRETARY, AND CASEY MCCABE AS ASSISTANT TREASURER. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. . 3. APPROVAL OF AGENDA MOTION BY BRAID, SECONDED BY BRIGGS TO APPROVE THE AGENDA. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. 4. APPROVAL OF MEETING MINUTES MOTION BY BOUCHER-HOESE, SECONDED BY MARCO TO APPROVE THE NOVEMBER 13, 2023, MEETING MINUTES. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. . 5. CONSENT AGENDA A. Year-End Development Update (12/31/2023) MCCABE reviewed a summary of 2023 year-end residential and commercial development activity. B. Year-End EDA Revenue & Expenditure Report (12/31/2023) MCCABE reviewed 2023 year-end EDA Revenue and Expenditure Report with total EDA revenues of $403,000 and expenditures of $176,000. C. Monthly Development Update (1/31/2024) MCCABE reviewed the year to date residential and commercial development update as of 01/31/2024. EDA commissioners discussed future commercial development opportunities within the current city boundaries and within the Spring Lake Township orderly annexation area. McCabe reviewed the four new commercial developments approved in 2023. The commissioners also discussed the new apartment buildings that are under construction and proposed, and the status of single-family residential development. MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPROVE THE CONSENT AGENDA. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. 4646 Dakota Street SE Prior Lake, MN 55372 6. REMOVED CONSENT AGENDA ITEMS 7. PRESENTATIONS A. None 8. OLD BUSINESS A. None 9. NEW BUSINESS A. Consider Approval of a Purchase Agreement for Property at 4556 Colorado Street SE MCCABE Presented a Purchase Agreement for consideration for the EDA to acquire a property at 4556 Colorado Street and a lease agreement which would allow the current owners to remain until June 30, 2024. The purchase price is proposed at $ 246,600 based on the 2023 Scott County Estimated Market Valuation. The owner would like to remain in the home until the end of June 2024 so staff has also prepared a lease agreement. Staff estimates property taxes of $3,500 per year. McCabe further explained that the house would likely not be rented so the house would be winterized and sit empty after the current owner/tenant vacates at the end of June. The Commissioners then discussed available funding for the creation and preservation of affordable housing and the other lots on this block of Colorado Street that are under City or EDA ownership. The EDA recommended requesting the City Council transfer ownership of the vacant lot at the intersection of Arcadia and Colorado to the EDA so all city parcels are under the same ownership. MOTION BY BRAID, SECOND BY MARCO TO APPROVE THE PURCHASE AND LEASE AGREEMENT FOR PROPERTY AT 4556 COLORADO STREET SE. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. B. 2024-2028 Arts and Culture Committee Strategic Plan Update MCCABE reviewed the updated ACC Strategic Plan discussed all the plans that the Arts and Culture committee would like to get done in the near term. Commissioners discussed the Public Art Criteria and Public Art Procedures that the Arts and Culture Committee has put into place for future Public Artwork. MOTION BY MARCO, SECOND BY BOUCHER-HOESE TO APPROVE THE 2024-2028 ARTS AND CULTURE COMMITTEE STRATEGIC PLAN UPDATE. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. C. 2024 Arts and Culture Committee Prior Lake Community Artist RFQ MCCABE Discussed the Arts and Culture Committee Plans for picking out a Community Artist for a new sculpture in 2024. McCabe reviewed what the ACC is looking for in a community artist and total budget of the project. Commissioners discussed where the sculpture may be located and qualifications and expectations for the Artist. MOTION BY MARCO, SECOND BY BRAID TO APPROVE THE PRIOR LAKE COMMUNITY ARTIST RFQ.. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. D. Potential 2024 Development Update MCCABE Present a Recap of all the projects that were done in 2023, the new projects anticipated for 2024. 10. OTHER BUSINESS A. Staff Updates i. Orderly Annexation Agreement MCCABE provided an update on the status of orderly annexation agreement negotiations with Spring Lake Township. B. Commissioner Comments None. 11. ADJOURNMENT MOTION BY BRIGGS, SECOND BY BOUCHER-HOESE TO ADJOURN THE MEETING. Ayes by Prchal, Briggs, Marco, Boucher-Hoese, and Braid. The motion carried 5-0. The meeting adjourned at 5:44 p.m. Submitted by Megan Kooiman