The URL can be used to link to this page

Home My WebLink About_11 13 2023 EDA Agenda Packet Phone 952.447.9800 / www.priorlakemn.gov 4646 Dakota Street SE Prior Lake, MN 55372 PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY (EDA) AGENDA Monday, November 13, 2023 – 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 / 2023 / November 13, 2023 1. CALL TO ORDER 2. APPROVAL OF AGENDA 3. APPROVAL OF MEETING MINUTES A. October 9, 2023 4. CONSENT AGENDA A. Monthly Development Update (10/31/2023) 5. REMOVED CONSENT AGENDA ITEMS 6. PRESENTATIONS A. Joint EDA / Arts and Culture Committee Discussion 7. OLD BUSINESS A. EDA Property Acquisition Opportunity 8. NEW BUSINESS None 9. OTHER BUSINESS A. Staff Updates i. Property for Sale 4636 Colorado St. SE ii. Advisory Committee Recognition November 20, 2023 iii. Next EDA Meeting December 11, 2023 B. Commissioner Comments 10. ADJOURNMENT Phone 952.447.9800 / priorlakemn.gov 4646 Dakota Street SE Prior Lake, MN 55372 Economic Development Authority Meeting Minutes Monday, October 9, 2023 1. CALL TO ORDER Chair Prchal called the meeting to order at 4:09 p.m. In attendance were Prchal, Boucher-Hoese, and Braid. Also present were Executive Director Wedel, staff Liaison McCabe, and Deputy City Clerk / Administrative Assistant Kooiman. 2. APPROVAL OF AGENDA MOTION BY BOUCHER-HOESE, SECONDED BY BRAID TO APPROVE THE AGENDA. Ayes by Prchal, Braid, and Boucher-Hoese. The motion carried 3-0. 3. APPROVAL OF MEETING MINUTES MOTION BY BRAID, SECONDED BY BOUCHER-HOESE TO APPROVE THE SEPTEMBER 11, 2023, MEETING MINUTES. Ayes by Prchal, Braid, and Boucher-Hoese. The motion carried 3-0. 4. CONSENT AGENDA A. Monthly Development Update (9/30/2023) B. Appointment Member to the Arts and Culture Committee MOTION BY BOUCHER-HOESE, SECONDED BY BRAID TO APPROVE THE CONSENT AGENDA. Ayes by Prchal, Braid, and Boucher-Hoese. The motion carried 3-0. 5. REMOVED CONSENT AGENDA ITEMS None 6. PRESENTATIONS None 7. OLD BUSINESS A. EDA Property Acquisition Opportunity Director McCabe: informed commissioners that an appraisal was completed for a property at 4556 Colorado St. SE. McCabe updated commissioners on conversations staff has had with the property owner related to a potential sale of the property. McCabe reviewed the results of a property appraisal as well as the Scott County 2023 and 2024 estimated market value. EDA Commissioners: discussed a potential purchase price and provided direction to staff. 8. NEW BUSINESS A. Joint EDA & Arts and Culture Committee Meeting Date/Topics Director McCabe: proposed a joint meeting between the EDA and the Arts and Culture Commit- tee at 4:00 on Monday, November 13th during the regularly scheduled EDA meeting. McCabe asked commissioners to identify discussion topics. EDA Commissioners: were supportive of a November 13th joint meeting with the Arts and Culture Committee. Commissioners suggested nonprofit formation, desire for additional private funding in support of public art projects, and the projects the ACC is focusing on in the near-term as potential discussion topics. Commissioners also suggested promotion of the ACC at events like Chalk Fest and potential assistance with community events such as the Pleasant Street Art Walk as possible topics. 9. OTHER BUSINESS A. Staff Updates i. “ShoreLife” Mural Unveiling October 14th at 9:00 a.m. Director McCabe: reminded commissioners of a mural unveiling event scheduled for Satur- day, October 14th at 9:00 a.m. ii. Caribou Cabin Grand Opening November 1st at 10:00 a.m. Director McCabe: extended an invitation to commissioners for a grand opening event for the new Caribou Cabin along Hwy 13 on November 1st at 10:00 a.m. iii. Next Meeting November 13, 2023 B. Commissioner Comments None. ADJOURNMENT MOTION BY BOUCHER-HOESE, SECONDED BY BRAID TO ADJOURN THE MEETING. Ayes by Prchal, Braid, and Boucher-Hoese. The motion carried 3-0. The meeting adjourned at 4:49 pm. Submitted by Megan Kooiman, Deputy City Clerk / Administrative Assistant 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: November 13, 2023 AGENDA #: 4A 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 October 31, 2023. 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 October 31, 2023. 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 / www.priorlakemn.gov Memo Date: November 13, 2023 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 to date residential and commercial development in the City of Prior Lake as of October 31, 2023. Single Family Dwellings 61 27,264,704.00 85 $35,431,976.50 Townhouses (# units)0 $0.00 4 $672,000.00 Multiple Units 1 $1,800,000.00 0 $0.00 New Commercial Industrial & Commercial 4 $7,044,460.00 2 $720,000.00 Residential 928 $16,707,093.39 1010 $16,230,824.23 Industrial & Commercial 20 $1,140,739.00 22 $1,389,802.27 tMechanical 808 $0.00 706 $0.00 ttMechanical (SF & TH)244 $0.00 356 $0.00 TOTALS 2066 $53,956,996.39 1725 $54,444,603.00 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 -28.24% -100.00% #DIV/0! 100.00% -8.12% -9.09% Number of Permits Declared Value 19.77% 2023 Year to Date 2022 Year to Date New Residential 14.45% -31.46% Number of Permits % Increase / Decrease Increase/Decrease Declared Value % Increase / Decrease -23.05% -100.00% #DIV/0! -0.90% 878.40% 2.93% -17.92% n/a n/a Name Address Type (New/Relocation/Expansion) Previous Tenant/Owner New SF Status Park Place Storage Phase I 6010 170th Street New Business Vacant / SF Home 84,870 Issued Caribou Cabin 4100 Village Lake Drive SE New Business Vacant 605 Issued Scooter's Coffee 15825 Franklin Trail SE New Business Vacant 668 Issued Jeffers Lodge 3884 Fountain Hills Drive NE New Business Vacant 7,500 Issued Fountain Hills Warehouse 4300 Fountain Hills Drive NE New Business Vacant 7,220 In Review TOTAL 100,863 2023 Prior Lake Commercial Activity (New Construction) 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: November 13, 2023 AGENDA #: 6A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Joint EDA / Arts and Culture Committee Discussion DISCUSSION: Introduction The EDA has invited the Arts and Culture Committee (ACC) to the November 13th meeting to discuss recent and upcoming projects and other initiatives of the ACC. Both the EDA and ACC have identified potential discussion topics, includ- ing but not limited to: ➢ Status of Friends of the Arts Prior Lake nonprofit formation and fundrais- ing initiatives/goals ➢ Desire for additional private funding in support of public art projects ➢ Near-term ACC project focus including Wagon Bridge mural ➢ Additional promotion of the ACC and support of community events (e. g. Chalk Fest, Pleasant Street Art Walk) ALTERNATIVES: Discussion only.