The URL can be used to link to this page

Home My WebLink About03 16 2026 EDA Agenda Packet Phone 952.447.9800 / www.priorlakemn.gov 4646 Dakota Street SE Prior Lake, MN 55372 PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY AGENDA Monday, March 9, 2026 – 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 / 2026 / March 9, 2026 1. CALL TO ORDER 2. APPROVAL OF AGENDA 3. APPROVAL OF MEETING MINUTES A. January 12, 2026 4. CONSENT AGENDA A. Monthly Development Update (2/28/2026) 5. REMOVED CONSENT AGENDA ITEMS 6. OLD BUSINESS A. None 7. NEW BUSINESS A. Consider Fast-Track Business Challenge Sponsorship B. Colorado Street Demolition and Parking 8. OTHER BUSINESS A. Staff Updates i. Parking Lot Update B. Commissioner Comments 9. ADJOURNMENT PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY MEETING MINUTES Monday, January 12, 2026 -4:00 p.m. Parkview Conference Room 1. CALL TO ORDER Chair Prchal called the meeting to order at 4:16 p.m. In attendance were Prchal, Lake, Marco, Braid, and Boucher-Hoese. Absent: None. Also, present were Executive Director Wedel, Mayor Briggs, Community Development Director McCabe, and Deputy Clerk / Administrative Assistant Kooiman. 2. ELECTION OF OFFICAILS The 2026 EDA officers of President, Vice-President, Treasurer, Secretary and Assistant Treasurer were discussed and elected by the EDA Commissioners. MOTION BY BRAID, SECONDED BY LAKE TO CONTINUE WITH THE 2025 ELECTED OFFICERS KIM PRCHAL AS PRESIDENT, MARIE BOUCHER-HOESE AS VICE PRESIDENT, NICOLE KLEKNER AS TREASURER, JASON WEDEL AS SECRETARY, AND CASEY MCCABE AS ASSISTANT TREASURER. Ayes by Prchal, Marco, Boucher-Hoese, Lake, and Braid. The motion carried 5-0. 3. APPROVAL OF AGENDA MOTION BY MARCO, SECONDED BY BOUCHER-HOESE TO APPROVE THE AGENDA Ayes by Prchal, Braid, Boucher-Hoese, Lake and Marco. That motion carried 5-0. 4. APPROVAL OF MEETING MINUTES MOTION BY BRAID, SECONDED BY MARCO TO APPROVE THE NOVEMBER 10, 2025, MEETING MINUTES. Ayes by Prchal, Braid, Boucher-Hoese, Lake and Marco. That motion carried 5-0. 5. CONSENT AGENDA A. Year-End Development Update (12/31/2025) B. Year-End EDA Revenue & Expenditure Report (12/31/2025) MOTION BY BRAID, SECONDED BY BOUCHER-HOESE TO APPROVE THE CONSENT AGENDA. Ayes by Prchal, Braid, Boucher-Hoese, Lake and Marco. That motion carried 5-0. 6. Removed Consent Agenda Items 7. Old Business A. None. 8. NEW BUSINESS A. Commercial Property Rezoning Request Community Development Director McCabe: Provided a summary of a possible rezoning request for property along Tower Street. McCabe explained the school district is selling their district services office, which is zoned R-3, High Density Residential. There are two adjacent parcels to 4646 Dakota Street SE Prior Lake, MN 55372 the west which are also listed for sale and are zoned C-2, General Business. A multi-family residential developer is interested in constructing a multi-family apartment building, which would require a land use plan amendment and rezoning of the C-2 parcels to R-3. Staff requested comments from the EDA related to a potential rezoning from commercial to residential. Commissioners: discussed the potential request and noted the City of Prior Lake has placed great importance on the preservation of the city’s limited available commercial property. The EDA expressed initial support for a potential rezoning due to the limited visibility of this commercial property. B. Dakota Street Property Sale Update Community Development Director McCabe: Informed the commissioners that the sale of the 4664 and 4666 Dakota Street parcels has closed and construction of the Cora Apartment building is anticipated to begin within the next two weeks. 9. OTHER BUSINESS A. Staff Updates B. Commissioner’s Comments 10. ADJOURNMENT MOTION BY MARCO, SECOND BY LAKE TO ADJOURN THE MEETING. Ayes by Prchal, Marco, Boucher-Hoese, Braid and Lake. That motion carried 5-0. The meeting adjourned at 5:20 p.m. Submitted by Megan Kooiman. 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 9, 2026 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 monthly residential and com- mercial development update as of February 28, 2026. 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, 2026. 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 9, 2026 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, 2026. Single Family Dwellings 6 $2,529,328.00 4 $2,392,990.00 Townhouses (# units)0 $0.00 0 $0.00 Multiple Units 1 $5,250,000.00 0 $0.00 New Commercial Industrial & Commercial 0 $0.00 0 $0.00 Residential 65 $1,672,387.70 121 $3,077,221.92 Industrial & Commercial 4 $368,275.00 5 $1,552,001.00 tMechanical 166 $0.00 140 $0.00 ttMechanical (SF & TH)24 $0.00 16 $0.00 TOTALS 266 $9,819,990.70 286 $7,022,212.92 39.84% #DIV/0! -45.65% -76.27% n/a n/a 2026 Year to Date 2025 Year to Date New Residential 18.57% 50.00% Number of Permits % Increase / Decrease Increase/Decrease Declared Value % Increase / Decrease 5.70% 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 50.00% 100.00% #DIV/0! #DIV/0! -46.28% -20.00% Number of Permits Declared Value -6.99% 4646 Dakota Street SE Prior Lake, MN 55372 ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: March 9, 2026 AGENDA #: 7A PREPARED BY: Casey McCabe, Community Development Director AGENDA ITEM: Fast-Track Challenge Sponsorship DISCUSSION: Introduction The purpose of this agenda item is to consider approval of a resolution approv- ing sponsorship of the Scott County CDA Fast-Track Challenge. History The first Scott County Fast-Track Challenge was initiated and hosted by the Pri- or Lake Technology Village Business Accelerator Program in 2017. The event is now hosted by the Scott County Center for Entrepreneurship following the mer- ger of the Technology Village program into the county-wide program. Current Circumstances The 10th Annual Scott County Fast-Track Challenge will be held in October. The Scott County Center for Entrepreneurship sent a request to all Scott County communities seeking assistance to obtain sponsors and donations of cash and in-kind services to support this year’s event. The EDA approved a Fast-Track Challenge sponsorship contribution in the amount of $1,000 in previous years to be used toward a marketing contract for the event, opposed to a cash award to the event winner(s). Conclusion If interested in sponsorship, the EDA should discuss whether their contribution should again be used toward the marketing contract or other service, as op- posed to a cash award to the event winner(s). The attached resolution identifies a donation of $1,000 to be used toward a marketing contract for the event. The EDA should provide direction to staff if they wish to provide a different amount of funding, or if they wish for the funding to be used for another purpose. FINANCIAL IMPACT: If approved, funds will be provided from EDA Professional Services - General (240-46500.00-53100.80) in the 2025 EDA budget. ALTERNATIVES: 1. Motion and second approving a resolution approving a $1,000 sponsorship contribution to be utilized for a marketing contract for the event. 2. Motion and second approving a resolution approving a sponsorship contribu- tion of a different amount and/or a different purpose. 3. Motion and second to deny the request for sponsorship. RECOMMENDED MOTION: Alternative No. 1 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 and will be held at The CDA’s new agency office in Shakopee. The live event will be held on Thursday, October 9th, 2025. 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 RESOLUTION 26-01 EDA RESOLUTION APPROVING FAST-TRACK SPONSORSHIP AND AUTHORIZING THE EDA EXECUTIVE DIRECTOR TO EXECUTE THE SPONSORSHIP AGREEMENT Motion By: Second By: WHEREAS, WHEREAS, WHEREAS, The Scott County Center for Entrepreneurship is hosting the 10th annual Scott County Fast-Track Business Challenge in October 2026; and The Scott County Center for Entrepreneurship sent a request seeking sponsorship in the form of cash and in-kind services for this year’s event; and The Economic Development Authority for the City of Prior Lake (“EDA”) considered sponsorship at their March 9, 2026 meeting and voted to provide $1,000 to be utilized toward a marketing contract for the event. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY as follows: 1. The recitals set forth above are incorporated herein. 2. The EDA will be a Bronze Level Sponsor in the amount of $1,000. 3. The EDA Executive Director is authorized to execute the Scott County Fast-Track Business Challenge Sponsorship Agreement. 4. Funds will be provided from EDA Professional Services - General (240-46500.00-53100.80) in the 2026 EDA budget. PASSED AND ADOPTED THIS 9th DAY OF MARCH 2026. VOTE Prchal Braid Marco Lake Boucher- Hoese Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ ____________________________ Jason Wedel, Executive Director