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HomeMy WebLinkAbout2006-11-14 EDA MinutesCITY OF COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY MINUTES November 14,2006 Pursuant to due call and notice thereof, a regular meeting of the Economic Development Authority was held at City Hall, 7516 80th Street South, Cottage Grove, Minnesota on the 14th day of November 2006. CALL TO ORDER The meeting was called to order at 7:30 a.m. by EDA President Bailey. Rnl I CAI I Members Present: Myron Bailey, EDA President Paul Poncin, EDA Member Gerry Weingartner, EDA Secretary /Treasurer Jim Wolcott, EDA Member Members Absent: Pat Rice, EDA Vice President Mike Wennen, EDA Member Others Present: Joe Fischbach, Management Analyst Ron Hedberg, Finance & Administrative Services Director Ryan Schroeder, EDA Executive Director Kieren Sell, South Washington County Bulletin APPROVAL OF MINUTES A motion was made by EDA Member Wolcott to approve the October 10, 2006 Economic Development Authority minutes. Seconded by EDA Secretary /Treasurer Weingartner, All Present in Favor. DEVELOPMENT UPDATE EDA Executive Director Schroeder gave the EDA a development update. He specifically talked about housing and commercial projects through October. Market values of new homes continue to be strong. Total new construction permit values for housing are $45,746,636. For Economic Development Authority - Minutes November 14, 2006 Page 2 commercial, permit values are $19,159,738 with about 15 build -outs so far this year. A new office building is currently being constructed at 6939 Pine Arbor Drive; this construction is 10,184 square feet. The Kath Oil and Bongaard Meats projects continue to progress and a permit has been issued for New Century Salon. A finalized development agreement with OPUS Northwest should be on the December agenda. Staff held a "neighborhood" meeting with interested business and /or property owners regarding the roundabouts at Hwy 61 and Jamaica a few weeks ago. PHS DEVELOPMENT AGREEMENT REVISIONS /APPROVAL An amended development agreement that amends the preexisting agreements was presented to the EDA. A motion was made by EDA Secretary /Treasurer Weingartner to authorize the EDA President and Executive Director to enter an amended and restated contract for private redevelopment with PHS /Cottage Grove, Inc. toward redevelopment of the Cottage Square redevelopment site. Seconded by EDA Member Wolcott, All Present in Favor. RESIGNATION Due to a busy business schedule, Paul Narpaul has resigned from the EDA. The EDA thanked Paul for his service and declared a vacancy. CALENDAR The EDA members were reminded of upcoming meetings and events. EARLY ENTRY AGREEMENT ICHOR Corp. /Blue Vessel, LLC has approached the EDA for an Early Right of Entry agreement. Wag Farms and all other interested parties have signed off on the agreement. The sunset date of the agreement will be November 20, 2006. A motion was made by EDA Member Wolcott to approve the Early Right of Entry agreement. Seconded by EDA Secretary /Treasurer Weingartner, All Present in Favor. MISCELANEOUS BUSINESS ITEMS It was reported that there will be a Manufacturers /Industrial luncheon on January 17 hosted by 3M. ADJOURN EDA Member Wolcott moved to adjourn the meeting. Seconded by EDA Secretary /Treasurer Weingartner, All Present in Favor, the meeting adjourned at 7:46 AM. Respectfully Submitted, Joe Fischbach 2 Economic Development Authority - Minutes November 14, 2006 Page 3 Management Analyst