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HomeMy WebLinkAbout2011-08-09 MINUTES• # �• MINUTES August 9, 2011 Pursuant to due call and notice thereof, a regular meeting of the Economic Development Authority was held at Cottage Grove City Hall, 7516 80`" St. S., Cottage Grove, Minnesota 55016 on the 9th day of August 2011. CALL TO ORDER The meeting was called to order at 7:30 a.m. by EDA President Bailey. ROLL CALL Members Present: Myron Bailey, EDA President Tony Jurgens, EDA Member Justin Olsen, EDA Vice President Craig Patterson, EDA Member Paul Poncin, EDA Secretary/Treasurer Richard Remackel, EDA Member Members Absent: Chris Reese, EDA Member Staff Present: Robin Roland, Finance Director Ryan Schroeder, EDA Executive Director Joe Fischbach, Human Resources Coordinator Others Present: Perry de Stefano, President- Cottage Grove Area Chamber of Commerce APPROVAL OF MINUTES A motion was made by EDA Member Remackel to approve the July 12, 2011 Economic Development Authority minutes. Seconded by EDA Member Patterson, all present in favor. DEVELOPMENT UPDATE / BR &E UPDATE / BUSINESS LEADS EDA Executive Director provided the development update. The Wheels for Travel property Economic Development Authority - Minutes August 9, 2011 Page 2 closing is expected within the week. The EDA purchased the property and concurrently entered in to a purchase agreement with the South Washington Wastershed District. The South Washington Wastershed District will be reimbursing the EDA for its acquisition and relocation costs. The Blair Building has been issued a certificate of occupancy. Thirteen contractors showed up for the mandatory pre -bid meeting on August 3` for the Public Safety /City Hall project. EDA Executive Director discussed the proposed square footage of the building and how it compares to the space needs study conducted by Hay Dobbs in 2006. That study recommended needs for 2010. The proposed square footage is 3,455 square feet larger, with the building expected to meet needs through 2040. Staff has been working with a developer to reposition The Home Depot site. The main tenant would be LA Fitness. Staff is working on a draft development agreement and running financing numbers. If the project goes through a new TIF district would be created and some EDA Trust Fund monies would be used. Two other tenants would also occupy the building once the repositioning is completed. Those two tenants have not been specified yet. With the news of a possible LA Fitness, the Community Center Task Force has recommended that the referendum be delayed on a possible community center. The Task Force would like to see if the LA Fitness project comes to fruition before deciding on a next step. The City Council is expected to affirm that decision at its' next meeting. Twenty -eight new home permits have been issued thus far in 2011. The average permit values of these homes are up significantly over the past two years. The ICHOR building is currently bank owned but has purchase agreement of $1,650,000. A closing is anticipated within the week. WORK PLAN PRIORITY SETTING DISCUSSION CONTINUED FROM 8/3 WORKSHOP EDA Executive Director Schroeder brought this item back to the EDA for more discussion. The draft EDA Work Plan and Goals is a significant document. Staff would not be able to get it all done in a reasonable time frame. Staff is looking for direction from the EDA regarding specific initiatives and targets. This is where staff would spend a considerable amount of time. It was the consensus of the EDA to bring the document back every month and put priorities on each section. EDA GOLF TOURNAMENT The EDA Golf Tournament is today at River Oaks Golf Course. Sixty -three golfers were signed up to golf. There are 3 Bronze, 10 Silver, 1 Gold and 1 Platinum sponsors. CALENDAR The EDA members were reminded of upcoming meetings and events. MISCELLANEOUS BUSINESS ITEMS Two articles in the Cottage Grove Area Chamber of Commerce newsletter were highlighted. ADJOURN Economic Development Authority - Minutes August 9, 2011 Page 3 EDA Vice President Olsen moved to adjourn the meeting. Seconded by EDA Member Jurgens, all present in favor. The meeting adjourned at 8:45 AM. Respectfully Submitted, Joe Fischbach Human Resources Coordinator