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HomeMy WebLinkAbout10 14 2024 EDA Minutes PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY MEETING MINUTES Monday, October 14, 2024 – 4:00 p.m. Parkview Conference Room 1. CALL TO ORDER Chair Prchal called the meeting to order at 4:00 p.m. In attendance were Prchal, Marco, Boucher- Hoese, and Briggs. Absent was Braid. Also present were Executive Director Wedel, staff Liaison McCabe, Deputy City Clerk / Administrative Assistant Kooiman, and CEC Liaison Speiker. 2. APPROVAL OF AGENDA MOTION BY BRIGGS, SECONDED BY BOUCHER-HOESE TO APPROVE THE AGENDA. Ayes by Boucher-Hoese, Prchal, Briggs, and Marco. The motion carried 4-0. 3. APPROVAL OF MEETING MINUTES MOTION BY MARCO, SECONDED BY BRIGGS TO APPROVE THE AUGUST 26, 2024, MEETING MINUTES. Ayes by Boucher-Hoese, Briggs, Prchal, and Marco. The motion carried 4-0. 4. PRESENTATIONS None. 5. CONSENT AGENDA A. Monthly Developments update (9/30/2024) MOTION BY BOUCHER-HOESE, SECONDED BY MARCO TO APPROVE THE CONSENT AGENDA. Ayes by Boucher-Hoese, Briggs, Prchal, and Marco. The motion carried 4-0. 6. REMOVED CONSENT AGENDA ITEMS None. 7. OLD BUSINESS None 8. NEW BUSINESS A. Dakota Street Preliminary Development Agreement Extension McCabe: presented the agenda item which was a request from The Beard Group to extend the term of the Preliminary Development Agreement related to the redevelopment of EDA owned property at 4662-4666 Dakota Street SE with a mixed-use multi-family residential building to be known as Cora Apartments. McCabe summarized the EDA discussion from their previous meeting where representatives of The Beard Group was in attendance to provide a project update. EDA Commissioners: discussed the extension timeline and desire for the Beard Group to attend an EDA meeting in early 2025 to provide another project update once more information is known about interest rates and labor and material costs. MOTION BY MARCO, SECONDED BY BRIGGS TO AUTHORIZE THE EXECUTIVE DIRECTOR TO EXECUTE THE THIRD AMENDMENT TO THE PRELIMINARY DEVELOPMENT AGREEMENT. 4646 Dakota Street SE Prior Lake, MN 55372 Ayes by Boucher-Hoese, Prchal, Briggs and Marco. The motion carried 4-0. B. Downtown Redevelopment Assistance McCabe: stated staff has been working with the property owner on a future redevelopment of the former T-Shirts and More building at 4636 Colorado Street SE. The new building is proposed at a zero-foot setback to the front property line and the owner is interested in outdoor restaurant seating. The work being proposed will require the current drive over curb to be removed and replaced with a standard curb, which may allow for a few on-street parking spaces. McCabe discussed the issues on-street parking could have on adjacent businesses and informed the EDA that City staff suggested the property owner consider extending the current pedestrian bump-out further east to provide additional space for outdoor seating, traffic calming, and address a potential conflict between vehicles parking and queuing while waiting to pick up their children. McCabe discussed the estimated cost for this work and the property owner request for city assistance to cover the cost of the public improvement portion of their project. EDA Commissioners: discussed the pros and cons of the proposed project. Commissioners directed staff to investigate options further and bring the item back for EDA consideration at a future meeting. C. 16298 Main Avenue SE Parking Lot Improvements McCabe: informed the commissioners that the tenant of the EDA-owned property at 16298 Main Ave. SE is interested in paving a portion of their parking lot that is currently gravel. The tenant has secured three bids for the work with the low bid being $9,500. McCabe stated the tenant offered to pay for the work but requested a reduction in rent to offset this expense. McCabe discussed the current lease term and rate and stated the EDA may want to consider a slight increase in monthly rent to account for the increase in property tax payments over the past two years. EDA Commissioners: discussed the request and supported a monthly rent increase commensurate with the property tax increase. Commissioners supported the paving project as necessary and a benefit to the property and agreed to reimburse the tenant up to $9,500 for their cost to have the parking lot paved. D. Adult Use Cannabis Zoning Code Updates McCabe and Wedel: updated the commissioners on the work that will be done by staff, the Planning Commission and City Council related to recent legislation legalizing the use and sale of adult use cannabis products. 9. OTHER BUSINESS A. Staff Updates McCabe and Wedel: provided the commissioners with an update on the new Orderly Annexation Agreement between the City and Spring Lake Township that has been approved by both parties and the State of Minnesota. B. Commissioner Comments None. 10. ADJOURNMENT MOTION BY BRIGGS, SECOND BY BOUCHER-HOESE TO ADJOURN THE MEETING. Ayes by Boucher-Hoese, Prchal, Briggs and Marco. The motion carried 4-0. The meeting adjourned at 5:14 p.m. Submitted by Megan Kooiman