Loading...
HomeMy WebLinkAbout2007-01-09 EDA MinutesCITY OF COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY MINUTES January 9, 2007 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 9th day of January 2007. CALL TO ORDER The meeting was called to order at 7:32 a.m. by EDA President Bailey. Rnl I CAI I Members Present: Myron Bailey, EDA President Paul Poncin, EDA Member Pat Rice, EDA Vice President Gerry Weingartner, EDA Secretary /Treasurer Mike Wennen, EDA Member Jim Wolcott, EDA Member Members Absent: None Others Present: Howard Blin, Community Development Director Joe Fischbach, Management Analyst Ryan Schroeder, EDA Executive Director Kieren Sell, South Washington County Bulletin Ken Smith, Management Analyst Jesse Swenson, Management Analyst APPROVAL OF MINUTES A motion was made by EDA Member Wennen to approve the December 12, 2006 Economic Development Authority minutes. Seconded by EDA Member Wolcott, All Present in Favor. INTRODUCTION OF NEW MANAGEMENT ANALYSTS EDA Executive Director Schroeder introduced Ken Smith and Jesse Swenson. Ken and Jesse Economic Development Authority - Minutes January 9, 2007 Page 2 started employment with the City on January 3 They will be working on various EDA projects and alternate attending EDA meetings with current Management Analyst Joe Fischbach. 2006 YEAR END DEVELOPMENT UPDATE EDA Executive Director Schroeder gave the EDA a development update. He specifically talked about residential and commercial construction totals for 2006. The City facilitated just under $50 million in new home construction, $10,594,585 in residential remodeling and $22,489,780 in commercial, industrial and institutional construction. Residential land sales more than likely exceeded $14 million and retail land sales in the Industrial Park exceeded $1.2 million. It is likely that 2007 will see similar commercial numbers but reduced residential permits due to lot inventories. Also, 185 residential building permits were issued in 2006. In February the City Council will meet and decide how to proceed with the East Ravine project. EDA Executive Director Schroeder also handed out to the EDA articles regarding construction and economic development by Boyd Stofer, CEO /President of United Properties and Joe Fogarty, a local real estate broker. APPOINTMENT TO COMPREHENSIVE PLAN STEERING COMMITTEE This item was held over from the December 2006 EDA meeting. Motion by EDA President Bailey to appoint EDA Member Wolcott to the Comprehensive Plan Steering Committee. Seconded by EDA Vice President Rice, All Present in Favor. OPUS CORPORATION PUBLIC SUBSIDY PUBLIC HEARING Staff is still negotiating the development agreement with OPUS. EDA President Bailey opened the public hearing. Motion by EDA Member Wolcott to continue the public hearing until the February 13, 2007 EDA meeting. Seconded by EDA Member Wennen, All Present in Favor. UPDATE ON INDUSTRIAL PARK SPECIAL ASSESSMENTS EDA Executive Director Schroeder updated the EDA on the Industrial Park Special Assessments and payment amounts the City /EDA have received since 2001. Currently the remaining balance is $348,027.37. The Jamaica Roundabout project and pond project are not part of these special assessments and it is expected that all Industrial Park property would be assessed for these. MARKET DEMOGRAPHICS EDA Executive Director Schroeder gave the EDA research and analysis regarding the Cottage Grove retail trade area. Using 2005 numbers, just under 50% of households within 5 miles of the Jamaica shopping district had a household income exceeding $75,000 and a population of around 54,022. 2 Economic Development Authority - Minutes January 9, 2007 Page 3 HOUSING MARKET REPORT EDA Executive Director Schroeder presented the EDA with some research regarding the housing market as we move in to 2007 and 2008. EDA Member Wolcott noted that the completion of the Wakota Bridge project will do nothing but enhance the appeal of Cottage Grove. MEDIA UPDATE The EDA was presented with 3 articles, one regarding the Norris Square project, one regarding the Cottage View Plaza project, both in the Star Tribune and a Mn /DOT press release regarding the Wakota Bridge project. PLAN REVIEW- COTTAGE SQUARE RETAIL Howard Blin, Community Development Director, gave the EDA an update on the retail phase of the Cottage Square redevelopment project. It is similar to the preliminary plan and includes a bank and medical office building. The landscaping is also intended to create a "view corridor" to highlight the amenities of the project. The plan is to bring back to the Planning Commission and City Council within the next couple of months and start the project by year end. CALENDAR The EDA members were reminded of upcoming meetings and events. MISCELANEOUS BUSINESS ITEMS The EDA is currently down one member. Ryan Schroeder and Myron Bailey will be looking to set up interviews for prospective EDA Members in the next couple of months. Members are urged to speak with one of them if they know of someone who would make an effective EDA Member. ADJOURN EDA Member Wolcott moved to adjourn the meeting. Seconded by EDA Vice President Rice, All Present in Favor, the meeting adjourned at 8:06 AM. Respectfully Submitted, Joe Fischbach Management Analyst 3