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HomeMy WebLinkAbout09 03 2014 Technology Village Minutesvr\ Z10 L P'*i 1. Call to Order CITY OF PRIOR LAKE, MINNESOTA TECHNOLOGY VILLAGE BOARD OF DIRECTORS MEETING MINUTES — September 3, 2014 The meeting was called to order at 4:00 p.m. in the Little Prior Conference Room at City Hall. Members present: Gerry Hughes, Rick Bump, David Rech and Adam Proehl. Members absent: Lori Frank and Kris Pauna. Staff present: Dan Rogness and Casey McCabe. Guest present: Gene Grugal, CFO, Local Vibe LLC 2. Approval of August 6, 2014 Meeting Minutes Without a quorum of attendants from the August 6th meeting, the approval of the August 6th meeting minutes was deferred to a later meeting. MOTION BY RECH and SECOND BY PROEHL to move agenda item 4.a. ahead of Old Business. With all members in favor the motion was approved. 4. New Business a. Program Participant Application — Local Vibe LLC Gene Grugal, CFO of Local Vibe LLC summarized their business and responded to board member questions. Mr. Grugal stated Local Vibe is in early stage development of a real time, location based marketing app. The app will provide real time information for local deals, specials and events that are happening in Prior Lake, Shakopee and surrounding communities. Board Members: discussed the current status of Local Vibe and felt Local Vibe would be a good technology fit for the City Hall accelerator location. MOTION BY HUGHES and SECOND BY RECH approving the Technology Village Program Participant Application for Local Vibe LLC and directing staff to inform the applicants of the approval and providing a standard three year lease agreement for their review and approval. With all members in favor the motion was approved. 3. Old Business Educational Box Lunch Series at Technology Village i. Final Preparation for September 9t" Event Board Members: discussed the educational box lunch event which has been scheduled for Tuesday, September 9, 2014 from 12:00-1:30 p.m. McCabe: informed the board that existing program participants and local businesses have been invited to attend the event through city and chamber emails, websites and on the downtown digital signs. As of the meeting date, approximately ten RSVPs have been received. Phone: 952.447.9813 / Email: drogness@cityofpriorlake.com / www.cityofpriorlake.com Board Members: discussed the event format of 12:00-12:30 (networking and lunch); 12:30-1:00 (presentation); 1:00-1:15 (question/answer); and 1:15-1:30 (wrap up and networking). Staff will provide a list of attendants to Mr. Proehl prior to the event. 4. New Business (continued) b. Technology Village Phase 11.2 Business Plan Board Members: discussed the latest draft revisions to the Technology Village Phase 11.2 Business Plan. Hughes: asked if the rental reimbursement rates of $12 (for year 1) and $6 (for year 2) identified in paragraph 1.3 were accurate or if they should be adjusted. Rech: stated that he has requested market lease rate information from a local commercial realtor but has not yet received the information. Board Members: recommended a few additional revisions which will be made by city staff. Members also discussed including the long term (Phase III) vision in the business plan but felt it was not necessarily needed because the EDA is aware of the Phase III vision. Instead the board recommended defining the vision for Phase III program development as one of the board's 2015 goals. Board Members: directed staff to make the recommended revisions to the Phase 11.2 Business Plan and send to all board members via email for review and comment prior to the next meeting. 5. Staff Update a. Program Participation Update — MyCarte McCabe: provided a brief update stating the Technology Village lease agreement with MyCarte has been signed with a lease commencement date of September 1, 2014. b. Technology Village Metric Report — August 2014 Board Members: reviewed the Technology Village metric report for August 2014. Mr. Rech stated he has met with design a tivity, Mr. Hughes stated he has a meeting scheduled for September 191" with ICP and Mr. Proehl stated he has exchanged messages with MyCarte who he intends to meet with soon. Board members commented on the need to schedule a quarterly meeting with Valde Group. Rogness: informed the board that he has not received any official word but does not believe Technology Village will be awarded the SBA grant it applied for. Mr. Rogness stated he has heard from other organizations who have been informed they have been selected to move onto round two of the grant application; the lack of notice to Prior Lake is assumed to mean Technology Village was not selected to proceed. c. Action Item Update McCabe: provided an update of completed and pending action items. Pending action items include: contacting a representative of CoCo (co -working and collaborative space) to evaluate opportunities to partner or advise Technology Village or expand in Prior Lake. Mr. McCabe informed the board the EDA would like to receive a Technology Village update soon and Mayor Hedberg specifically asked for an update on CoCo discussions. Other pending action items included: board members are to select organizations to contact to promote and notify them of Technology Village and staff is to contact the City of Cottage Grove for a status update on their business accelerator program. d. Board Member Ideas/Recommendations Hughes: verified the ad seeking Technology Village program participants was included in a recent edition of the Prior Lake American and recommended staff research the cost of placing the ad in the Star Tribune. Board Members: discussed the possibility of placing an ad in the Prior Lake American to attract future board members but ultimately decided to wait until the regular City of Prior Lake solicitation process in October. Board members were encouraged to recruit members of the community that they felt would make a good board member. 6. Adjourn MOTION BY HUGHES and SECOND BY PROEHL to adjourn the meeting. With all members in favor, the motion was approved. The meeting adjourned at 5:13 p.m. Submitted by: Casey McCabe