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HomeMy WebLinkAbout2007-05-08 EDA MinutesCITY OF COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY MINUTES May 8, 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 8th day of May 2007. CALL TO ORDER The meeting was called to order at 7:40 a.m. by EDA President Bailey. Rni i r.o i i Members Present: Myron Bailey, EDA President Paul Poncin, EDA Member Pat Rice, EDA Vice President Gerry Weingartner, EDA Secretary /Treasurer Jim Wolcott, EDA Member Members Absent: None Others Present: Howard Blin, Community Development Director Joe Fischbach, Management Analyst Ron Hedberg, Director of Finance & Administrative Services 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 Wolcott to approve the April 10, 2007 Economic Development Authority minutes. Seconded by EDA Secretary /Treasurer Weingartner, All Present in Favor. DEVELOPMENT UPDATE Economic Development Authority - Minutes May 8, 2007 Page 2 Howard Blin, Director of Community Development, and EDA Executive Director Schroeder gave an update about the Norris Square project. The new plan calls for 15,000 less square footage a retail space. The developers believe that the market does not support that additional 15,000 square feet. The senior housing construction portion of the project continues to progress. That portion of the project has a building permit value of $15,067,000 and a permit cost of $877 At the May 2, 2007 City Council meeting Council approved the creation of TIF district 1 -14. This will help facilitate the utility and site works costs of the Hamlet Park project. Council granted concept approval of the McHattie Farms project. Submission of preliminary and final plats will be submitted in the coming months. The Colonial Commons, LLC project rezoning and site plan were approved by Council at the April 18 meeting. The projected bid award for the installation of the East Ravine trunk utilities will be June. The City Council approved the budget, timeline and 2 agreements with the school district for the ice arena addition. It is anticipated that an architect by hired sometime in June. There was a groundbreaking for the Hemingway Business Center on May 1 This first phase will add 20,000 square feet of multi - tenant condo /rental space to Cottage Grove. There is also a second phase planned in the future that will add an additional 23,500 square feet. There is a plan to add an additional 15 lots to what would be considered an extension of the Preserve of Cottage Grove. The rezoning and preliminary plat application will be before the planning commission on May 21 EDA Member Jim Wolcott was recognized as the Volunteer of the Year at the Volunteer Recognition Banquet. The City Council received the results of the EDA strategic planning meeting. ACQUISITION OF JOE -BOB PARCEL Since the March EDA meeting staff has hired a consultant to appraise the land. The appraisal has come back and values the land at $363,000. Staff is recommending that the EDA authorize purchase at the price. Motion by EDA Vice President Rice to authorize the purchase of the Joe - Bob property in the amount of $363,000. Seconded by EDA Secretary /Treasurer Weingartner. Yeas- Bailey, Rice, Weingartner, Wolcott; Nays- Poncin. EDA ANNUAL REPORT DRAFT The EDA provided staff with feedback and suggested changes they would like to see to the EDA Annual Report. 2007 EDA GOLF TOURNAMENT UPDATE Jesse Swenson gave the EDA an updated budget and registration numbers thus far for the 2007 event. CALENDAR The EDA members were reminded of upcoming meetings and events. MISCELANEOUS BUSINESS ITEMS 2 Economic Development Authority - Minutes May 8, 2007 Page 3 EDA President Bailey, EDA Vice President Rice and Executive Director Schroeder will be interviewing EDA candidates in the next few weeks. An. nijpN EDA Member Wolcott moved to adjourn the meeting. Seconded by EDA Secretary /Treasurer Weingartner, All Present in Favor, the meeting adjourned at 8:15 AM. Respectfully Submitted, Joe Fischbach Management Analyst 3