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HomeMy WebLinkAbout2001.10.09 PACKET ,, CITY OF COTTAGE GROVE ECONOMIC Secretary DEVELOPMENT AUTHORITY AGENDA OCTOBER 9, 2001 7:30 A.M. 1. Call to Order 2. Roll Call 3. Approval of September 11, 2001 Minutes 4. Business Items • A. Project Updates • discussion regarding real estate transaction analysis • impact of tax law changes (strategy, policy, studies) • grading plan for industrial park, 97th Street area B. Redevelopment Update C. Renewal Grant Extension D. 2001 Golf Tournament Update E. EDA Welcome Signs F. Metro East Connections Event G. Calendar H. Development Update Materials I. EDA Vacancy J. Senior Housing Discussion 5. Miscellaneous Business Items A. Future Meeting Schedule 6. Adjourn Next Meeting Date: November 13. J:\Economic Development\EDA Packets\2001\Agendas\October 9 Regular.doc • ,;City of Cottage Grove 111/ Memo To: Economic Development Authority Members From: Michelle Wolfe,Assistant City Administrator Date: 10/04/01 Re: Project Updates Item 4A Attached is the list of active projects. The City has received 27 leads year-to-date. Staff will provide a verbal update at the meeting. • REAL ESTATE TRANSACTION ANALYSIS For the past several years we have been able to offer a pretty standard package to businesses interested in locating in the Industrial Park. However, the recent tax law changes have resulted in a need to analyze financing options. Staff has developed a draft standard proposal and would like EDA guidance and direction. A copy is attached for your review. IMPACT OF TAX LAW CHANGES In addition to impacting the real estate transaction package, the tax law changes could have other effects. The EDA should discuss whether or not these changes should result in any adjustments to our marketing strategy or to the goals developed in the strategic plan. Articles from the Minnesota Real Estate Journal and LMC Bulletin are attached for reference. INDUSTRIAL PARK GRADING Attached is a copy of the grading plan for a portion of the Industrial Park. This grading is being done in relation to the most recent projects, including the 97th Street extension. It is our hope that by grading some of the vacant land near the developed/developing • sites (CCE, American AGCO), the property will become easier to market to prospective businesses. \\CG_FS2\CG_FS2_MAIN\GROUPS\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Proj Update.doc PLANNING COMMISSION UPDATE: At the September 24 meeting, the Planning Commission reviewed an application from • BP/Amoco for a conditional use permit and site plan review. Proposed are a new convenience center store, a solar canopy, and a new car wash. The proposed convenience store gas station would be located at 8490 East Point Douglas Road. It is anticipated that the Planning Commission will be reviewing projects at 70th and Hinton during their October meeting. This would include residential as well as commercial uses. Attachments • • \\CG_FS2\CG_FS2_MAIN\GROUPS\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Proj Update.doc ACTIVE LEADS QUERY EDA PACKET 10/3/01 Proposal ID Project Description SF/Acres Needed • ED-00-22 Office Warehouse 45,000- 50,000 sf warehouse, 4,000 5,000 office ED-00-31 Grovea Plaza NA- _ __. ED-00-32 Hotel & Restaurant 70,000-80,000 sf ED-00-35 'Post Office 33,659 sf/5 acres ED-00-44 Manufacturing 75,000- 100,000/4.6-6.6 acres ED-00-50 Engineering facility 10,000 sf/1-2 acres ED-00-60 Headquarters facility 15,000 sf/2 acres ED-00-61 Retail/Mixed Use ED-00-62 ,Office Development 40-5-acres ED-00-64 Manufacturing/Distribution 8-10 acres ED-00-65 Build and Lease facility 90,000 sf ED-00-70 Retail Business 23,500 sf/3.84 acres ED-00-74 Manufacturing 50,000 sf ED-00-79 Manufacturing and Office 286,000 sf ED-00-80 Mixed Use Commercial 56,575 sf/9.42 acres ED-00-84 Multi-Tenant Spec. Building ED-00-86 Lumber Distribution 175000 sf ED-01-001 90,000 SF Retail 90,000 ED-01-002 Manufacturing ED-01-003 Manufacturing ED-01-004 Equipment Storage ED-01-005 Manufacturing • ED-01-006 Re- Development ED-01-008 Manufacturing 30,000 Sq Ft ED-01-010 Restaurant#2 ED-01-011 Distribution 30-acre parcel ED-01-012 Restaurant#4 ED-01-013 Real Estate 3.5 acres ED-01-014 Light Industrial 50,000 Sf ED-01-016 Manufacturer 10,000 SF ED-01-018 Commercial ED-01-021 Remodel ED-01-022 Med-Tech 40 Acres ED-01-024 Commercial 6.5 acres ED-01-025 Manufacturing Rail/Barge ED-01-026 Manufacturing-Medical 35,000 Sq. Ft. ED-01-027 Senior Housing 5 acres • Page 1 City of Cottage Grove Economic Development Authority Industrial Park • Real Estate Transaction Analysis / 2002 Construction Season The following assumes a 50,000 square foot manufacturing facility with a land and building value of$2,250,000 ($45/SF on the building) with the base parcel size at 30% lot coverage (166,667SF). It should generally be expected that the City will not approve an industrial project with a minimum market value below $45/SF (on the building). 1. Status of Development Parcel* The City will provide an engineered, graded and compacted parcel with all utilities stubbed to the site, street access, paved, curb and gutter, water, sanitary, storm area charges and park dedication fees paid 2. Land Cost Base parcel (@ 30% coverage) is at $1.35/ SF. An expansion parcel can be made available at $1.95/ SF. • 3. Land Financing** If desired by the end user the City will finance the project parcel over a five- year term at a 6% rate of interest. 4. Owner obligation Enter into development/assessment agreement with market value/ con- struction guarantees; compliance with all ordinances (i.e. Landscaping, site aesthetics); payment of customary building permit, SAC and connection fees; state mandated employee and wage guarantees *engineered, compacted and tested; graded to owners grading plan if available at time of project bid/otherwise graded to City standard grading plan. Some sites may be at developable grades in existing condition. Not pad ready. **City maintains property lien for the life of the financing • \\CG_FS2\CG FS2_MAIN\USERS\RSCHROED\Real Estate Transaction analysis 2002.doc September 3,2001 Mimesoto Red Estate Journal Po6 TIE The painful side ` � ` � w - � of roper / tcac relief Sale • THE IMPACT OF significant financial issues for developers [���,, t � TAX REFORM�N T1F and cities.To raise cash for a project,many - - r developers holding pay-as-you-go notes /� f • 6-floor warehouse building sold them on the secondary market after 7'_ by Peter Berrie gu.vanteeing the stated principal and inter R • 74,400 square Feet total • In addition,cities that issued general -a-t C • Close proximity to new Guthrie The Minnesota obligation TIF bonds for projects often Enferp res It1C, ' Omnibus Tax Act, insisted on developer guarantees of tax >, tom. �a MKE Train Depot&Loft develoj passed by the Legisla- -fes Payments,land leases or minimum assess- ,*,+: Lure just in time to ment agreements to reduce taxpayer tisk +,ie.` �'I `�` • 54.2 million Guest .. for any shortfalls in future tax increment _4615 Washburn Ave_ f 4," receipts.It's a safe bet that both cities and AAui 410' Columnist 2' ,. :" developers are reviewing the terms of their a ° ' • contracts to determine where they stand Mane;6 t 2.860 2467 (nil h dip fnr morn infer, i avert a state shut- _. Legislative remedies JFax t 161292962- 612-860- I down, delivers his- toric property tax Peter Berrie To ease the pain of tax reform,the Act } reform. While the authorizes cities to use several measures to �' '-` Act's substantial provide relief to distressed TIF districts. • property tax relief is welcome news to Cities may use these remedies to help .4 ...,_,,. „R --- many businesses,it may be bad news for themselves,as well as developers and oth- r,fir.:""�' „v -arz". '.'3';<- 2r-'-.r-I.=-_ rnal estnte developersngr1 who rely on tax ere holding"pay-as-you-go"no notes.cHow- id-City Cleanin,iincrement y willt eves; reveld have no direct access to Not only will this development tool be these remedies,which each city may useless effective in the future,developers who at its discretion.Nevertheless,distressed - - 'have guaranteed or relied upon pre-reform developers will want to consider strategiestax increment streams may be left holding to encourage cities to use the relief avail C Ontra:ctOrS' iIn Cthe bag. able.The Act requires a city to exhaust the • However,the law provides a variety of remedies in the order described below. remedies for cities whose TIF districts are These remedies are generally only avail- Servicing these facilities: adversely affected by the landmark reform able for TIF obligations that were entered • into before Aug.1,2001. What exactly did the Legislature do? filing-The first remedy cities must use Take over the general education levy. is`pooling,"a technique that allows cities • CORPORATE The state has assumed responsibility for to use tax increments from other TIF dis- education funding and eliminated the gen- diets to eliminate deficits caused by the COMMERCIAL eral education levy for local school dis- PAY tax reform,including shortfalls in • tricti.as,well az the first 5415 per-pupil of - the increment available for pay-as-you-go each district's-referendum levy.This will - notes.A-city needs the approval of the \ dramatically lower tax increment revenues Commissioner of Revenue to utilize this MULTI-TENANT \. generated by school district taxes. remedy. Even if a pay-as-you-go note a Impose a new state-wide property tax. states that it is only payable from incre- • MEDICAL, \\ .1To help offset the loss of local school dis- ment generated by a certain TIF district, PHARMACEUTICAL tiict property taxes,the state is imposing a the law allows pooling to pay it,but only BIO-TECHNICAL new state-wide education property tax on to the extent that all other payments due C/I property and seasonal recreational and owing on that city's TIF bonds and ProPertY(cabins)- other pay-as-you-go notes have been made LABORATORY Cut rates.The tax law compresses prop- for that calendar year t CLEANROOMS i erty class rates so that the remaining prop- Uncapping the original tax rate or erty tax burden falls more evenly on all changing the fiscal disparities option.If a properties.The table with this article shows city uses its pooling authority to the fullest the changes in class rates for the major extent possible and there is still a shortfall, •TELECOMMUNICATION property classifications it may exercise either or both of the fol- lowing options:ECOMPUTER oof propertytax reform on TIF a)generally the original tax rase.TIF MEDIA TECHNOLOGY INDUSTRY Lower property taxes mean less tax laws generally do not allow cities to gen- increment to pay existing TIF bonds and erste more increment by increasing the "pay-as-you-go"notes,as well as less pub- combined city,county and school district lic assistance for new development or redo- tax rate beyond the combined tax rate in velopment projects. To make matters effect when the TIF district was formed • INDUSTRIAL worse,the new state-wide property tax on However, this remedy allows a city to - • • C/I property will not be available for TIF increase the"originaltax rate"to the new MANUFACTURING As a result, available tax increment is combined tax rate.If the new rate is high" expected to decrease by about 30 to 40 per- er than the original tax rate(despite the CORPORATIONS cent.The exact drop for any given TIF dis- m new law),this would result in more ere . trict is currently difficult to calculate ment available for the TIF district = Serving Entire Metro Area Since 190 because it depends upon the new tax b)Fiscal disparities option.Minnesota capacity of each property within a munici- law requires governmental units located in s - 32 years experience pality. certain areas(generally the seven-county i. M I In addition,the Legislature eliminated metropolitan area and the Iron Range)to ..t4 the "LGA/HACA" penalty that forced contribute a portion of their C/I property -• - _ 1 most cities to contribute a`local match"to 'taxes to area-wide fiords that are then rtdis 33 . I 1 TIF projects(from non-TIF sources)equal tributed among the governmental units in c l to 5 percent of the tax increment Unless o to smooth out imbalances in their rel -.- IF- _ the city contracted to pay the local match ative tax revenues.These revenue-sharing . ' 1 I > _ regardless of any statutory requirement, mechanisms are often referred to as"Fir ; 'l, — :II r y this change will probably further reduce cal Disparities"contributions. ! y s _ j. Sthe amount of public funds used to When a new TIF district is created,a r jI I ti existing TIF obligations. (On the other city can elect to pay the fiscal disparity `,• sj e ;_r m :=.it.r _ _ =_�. hand,this change eliminates a disincentive contribution from all property in the city _ +� h_� . . t ---=-_ ---c:r-" to cities to enter into TIF deals) instead of solely from the applicable TIF - Due to the reduction in tax increment, district If a city did not do so originally,it 7276 Commerce Circle East • Minneapolis,MN 554 most"pay-as-you-go"notes will not be may now choose that option as another ;_, paid az quickly az originally projected and remedy to make more tax increment avail- _ t.' •. (612) 5 71-9 0 5 6 some won't ever be fully paid.This raises TIF to next page . ..WWW.midcltycleauing .COIR 8 - l ' L _411 L NAi p C If- s --..' -----'-:...5?':- ''' : 8 'R.: 74 '''--, T1 c _ $� _ R Qo r ccs. - s uf V b 04 tq• i 4 _ 411) LI ..R. 46. .v.,,,.@ .1.-_ i- .1.***4.4 it is i j i !tt INN ii '' tt I L. ° i O . ...0.2., y' �, p to 1:3 cE^ UUU y u U$ p. yo gitl o 5 2 % .41 8 i Ei 6. 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E tot.tcw O,c'c� a3 ,.E o.f ° w'o i . y CeahUuoe00. , - oO o 11 u y � t, , � srJ. > "" u e _$= °o0cca �' " °-' 3 e o d,�a� o•.; w o v0E u ° a>- -o y u cD 1 , o�.. 3. &4- 804>s2; c. a.•'a 3r: .c C c = 67,..50== = a -a 4,11 y G. y Q >f�,,. fir 4:1 l W cC Et cE O u a• y �': u� 'fl C aC�•+b u C C u w � ..+ 1..'^ it '�. 4r >>E] Vl In X gEm - >>evcuu ° . *.acE'• ecdw � o ;wucc" E ,yico 000ac� • c �.5 0 X y� , u >•O.E� ao ao$ c0 0.1%.017)41 y °•�„ 0 c° 2$ ° u $ oi ' LUil ^ o E'a a 03 .9,1),.= 4 3' u m cob ">,E� � E U = ow c 3,> O ed U /.� u uw y� �.c CI. �� cCo > >,>+c t7 °Ji O uw C o N c� �.E > vCi�.� oO ..`'� o'" �n0 W W z 0'c 0. u 2 w .+ fl C o 8 hu > 4'� �' ca . .u. Ou .gCU •= O gcwt �iyyC ►O+ M.C _OMg�' cN uu O tz° -- •C cd y i N L R} , t C C R � �'a ' 7 0.66 ° 5 u C O O >,0 6. ~ � MINIM N v, cil0 iih 4 [r` pg C .. N , cuOu =5ww 'c„vi0 . ca _.t 'ca _ E we c {LI W e c°� y�'.. `.3 o` u�.3 ;.s_> aao. °> u .= $,10 >.>boa0112N—� n 8 W m F'' " y.^r.lw >,c occa a> p R� � eav, cea � coQ �, V rn 1•dj. i roof .3oa0O.� ;,.24.L -T.; n,a u(1g 0 a = 2 c4O o e .542 z aci u ' u5 u > 0wca "aauo.cao.;.�°w>uE-. caEoS•l - E .6c>v —. New legal requirements for interfund loans to TIF districts by William E. Connors, Director • Tax Increment Financing Division, Office of the State Auditor During the 2001 session,the Legisla- Interfund loans made before Aug. policies and procedures that will assist ture addressed the issue of interfund 1,2001,are ratified,which should the authority in complying with state loans to TIF districts and enacted new alleviate any concerns of local govern- law.One approach would be to adopt provisions that will better allow TIF ments that may have used interfund a policy by resolution when a TIF authorities to manage the financing of loans to finance TIF projects before district is created stating that if an TIF projects.Prior to the 2001 this time.However,the new law interfund loan is needed,an auto- amendments,the only financing requires that any interest accrued or matic,pre-approved loan would be mechanism explicitly authorized by paid after July 31,2001,on a preexist- made.This resolution would specify the TIF Act for TIF projects was the ing interfund loan is subject to the maximum principal amount,maxi- issuance of bonds.The 2001 omnibus limitations discussed above.This mum term,and the applicable interest tax act amended the TIF Act's defini- ratification applies to local govern- rate.Another approach would be to tion of"bonds"to include interfund ments which have preexisting direct the individuals responsible for loans. interfund loans that were implicitly maintaining TIF financial records to The 2001 legislation established a created when a TIF district's fund monitor cash balances in each existing process that a TIF authority must experienced a negative cash balance. TIF fund throughout the year and follow in making an interfund loan. In such cases,the local government seek a resolution from the governing The TIF authority or municipality must act to determine the principal board if an interfund loan becomes that controls the fund making the amount of such"loans"so that an necessary.Additional monitoring of interfund loan must approve it by appropriate interest rate may be TIF funds,in general,will be of even resolution before the money is trans- determined.In these cases,the greater importance than in the past in ferred,advanced,or spent.The terms principal amount of a negative-cash- order to comply with this new law and conditions for repayment of the balance interfund loan is limited to The new interfund loan provi- interfund loan must be set forth in the largest negative cash balance that sions can be found at Laws 1 Sp.2001, writing and include at least the existed at any time in the fund that ch.5,art. 15,sec.3 and 21.Additional principal amount,the interest rate,and received the undocumented loan. information for accountants on the maximum term of the loan. In the past,some local govern- negative cash balances and interfund Finally,the rate of interest that may be ments may have relied upon their loans can be found in the AICPA's charged on an interfund loan is auditors to eliminate negative cash Audit and Accounting Guide:Audits of limited to the greater of the rates balances in their TIF districts'funds by State and Local Governmental Units specified in Minn. Stat.§§270.75 or reclassifying them as interfund 7.07 (1994) and the Government 549.09.The 2001 provisions are payables.To comply with the new law Accounting Standards Board's Codifi- effective for interfund loans made requiring prior approval of interfund cation of Governmental Accounting and after July 31,2001,and to TIF districts loans to TIF districts,each TIF Financial Reporting Standards with certification request dates after authority should consider adopting 1300.110 (June 30,2000).r July 31,1979. Join the BQC effort! Building Quality Communities is about taking • charge of the way your city is perceived by your residents, legislators and the media. Send in your City Council Resolution It's a grassroots effort among all communities MINNESOTA CITIES T I E S throughout the state—and it can't be successful 41/4-I without you! Building Each city was sent a packet of materials to get Quality your city started in communicating how cities Communities enhance Minnesota's high quality of life. Pass the City Council resolution committing your city Check out the BQC Web site: to the effort and send it to Laura Petersen, 145 www.lmnc.org/bqc/home.cfm University Avenue West, St. Paul, MN 55103, or fax it to 651.215.4141. 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Plans continue for the Grove Plaza Development as well as the Rose of Sharon/Semper Development project. In addition, we expect to • have updated information regarding the 80th Street Redevelopment Project after City Council discusses this topic at the October 3 meeting. Attached is a draft schedule for the 80th Street Redevelopment Project. Attachment S F:\Groups\PER_ECOMEconomic Development\EDA Memos\2001\Oct 01 Redev.doc G W F- •A- W 0 J LL 0 0 0 0 7 >, >, >, >, 0 O 5 7 > (.) --) ) -, .-. N N %- r- N 1- 0 0 0eO o 0N1� 0 1- 0 o 00 00 N C - L) > 1- 1- 4C.. O ICT) N- NNO '4' 0 •- O L . > _0 C) . O O Q OOOM > > Zj O Z (DE ow a) a) `n NNNO C >' 5 5 5 = = j 0 .9 0 O O O 0 CD CD C C - -) •� QQQOOOZZ Z00 0 -°) �i � O O a. a. ma. mmJ22Ja. J ] iJ2 . a. 2 - r a. a_ a . 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V N - N 0. ti 0- as y Cr) N � M 5- N C as N C — "- c) �. -0 .0 0 -) 2 O 0 a z g>g� U C O Q O O 3 I c a3 to 7 a) N c) Z I C 'j O N U C Q E O c ▪ oa a) n a v LN N C 8 V y 0 E �. w 0. co C 2 U Le Z.0 O C ` a3 0 8 o 0 0 1- — O O 0 LL O O h W to 2N c a) 1 U a) 0 wI O• c° aa) � � 0a N aE) Cl) CO c U g U a) '� `� t- 0 'O >, > a) N m — N a) o a p aa. •- o 00 •> f C 0O E a c • Q � � $ v aaN 0 > a) czN E 2 E c?� • < 00i .<Lr W Q 0 0cc 0 0 � a City of Cottage Grove • Memo To: Economic Development Authority Members From: Michelle Wolfe, Assistant City Administrator Date: 10/03/01 Re: Renewal Grant Extension Item 4C As you know, Renewal by Andersen received a Minnesota Investment Fund grant in 1998. There were three goals identified that were to be met by the company, or they would need to pay some or the entire grant back to the State. Renewal requested a one-year extension for meeting one of the three goals, job retention/creation. Both the EDA and the City Council recommended approval of the grant extension, and the • request was forwarded to the Minnesota Department of Trade and Economic Development (DTED). I received word from DTED that the request for a one-year extension has been approved. The grant has been extended until July 1, 2002. No further requests for extension will be considered. \\CG_FS2\CG_FS2_MAIN\Groups\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Renewal.doc • -City of Cottage Grove Memo To: EDA Members From: Michelle A. Wolfe,Assistant City Administrator Date: 10/03/01 Re: 2001 Golf Tournament Item 4D At the September EDA meeting, some information was requested regarding attendees at the golf tournament. Management Analyst Scott Johnson put the information together and it is attached. Specifically, there were 55 new participants in this year's tournament, • representing at least 26 companies/organizations. This means that almost one- half of the participants were new. Also attached is some additional golf tournament data. Staff would like some input regarding the 2002 tournament, which is already scheduled for August 20. Since we already have interest for sponsorships and registration, we need to discuss fees. Scott Johnson has provided a history of the golf and sponsor fees for the past three years. We would also like some input regarding the give-away item for next year's tournament. Attachments • F:\Groups\PER_ECOMEconomic Development\EDA Memos\2001\Oct 01 Golf Toumament.doc City of Cottage Grove • • Memo To: EDA Members From: Scott Johnson - 4-"' Date: 9/12/01 Re: New participants at the 2001 EDA Golf Outing The 2001 EDA golf outing had 126 participants. I compared the 2000 golf outing sign-in sheet with the 2001 sign-in sheet. According to the two sign-in sheets, there were 55 new participants in the 2001 event. Companies represented by new participants include: Anderson Family Realty TKDA • Hampton Bank Heritage Development of Minnesota Braun Intertec US Bank Kellison Company Francis Properties Inc. Xcel Energy Connexus Energy Sussel Corporation Investment Real Estate Company MN Real Estate Journal Corporate Service Consortium Loucks Associates Podawilitz Development Corporation Amcon Construction Sentranet Edina Realty Wis. Homes Sheehy Construction Olson General Contractors MN Real Estate Journal Kinnard Colliers Towle First Industrial Realty Trust • G:\Economic Development\2001 EDA Golf Outing\EDA Memos\Sept.New Participants.doc City of Cottage Grove • Memo To: EDA Members .V From: Scott Johnson Date: 10/1/01 Re: EDA Golf Outing Cost Next year's EDA golf outing will take place on August 20, 2002 at River Oaks Golf Course. A few decisions need to be made before planning for next year's event can take place. The gift item for next year's event needs to be decided and the cost for participants also needs to be discussed. • Here is the breakdown of fees for the past three events: 1999 2000 2001 1 golfer $30.00 $35.00 $40.00 Foursome $110.00 $120.00 $130.00 Hole Sponsor $150.00 $175.00 $175.00 The gifts for the past three tournaments were: 1999 2000 2001 Hats Mugs Shirts 0 Document2 City of Cottage Grove s Memo To: EDA Members From: Scott Johnson Date: 9/25/01 Re: New Business Signs The new business welcome signs have been ordered. The lettering and border will be in blue and green. Eight signs have been ordered at the cost of$72.95 each. • • Document2 saw:4 ill N-CG 11)_ itotaitiag=",.... '.'TM •.' .1-.7:: --ev '‘ - ---• ' -..‘_, ..:-. •- . SOC/Bk0 9-014 VI • v,,, , . -..-:...*Ar,.4..: :-....:=70.- F., sol, , -4,4 -4f.„,-4-4.---w --. •,.• -. • 4-...:--• -•--- -.: OSA.A„..4'. --•-,`'110'. ''P!.--4.,--•""V ‘-;'',17;;;Er:•;;"9?-1..":,;:.,,.,,,..-_,.. .,-...,--, ,. t.--- ,,,,-. i : 142)642 r.• - i .,_ , . ... , . ... . I . tt 86 , 4 li i 41 . 'A I ii Cottage Grove i . -11 I' $ t I 4 a , .1 1 ; 'a a.. a 4.4. • ,- 7.4. .1- II 1 ..._.t. 4 , .,. 1 - .4. ill 4 til , R , .., WELCOMES .-..? 4= .,. ?. i t. 1 4 , ._ . _ , • ...,„ - . ... , ,— - • ''"...... -City of Cottage Grove • Memo To: EDA Members From: Michelle A. Wolfe, Assistant City Administrator Date: 10/04/01 Re: Metro East Connections Event Item 4F The City is a member of the Metro East Development Partnership (MEDP). One of MEDP's newer marketing initiatives is to plan "Connections" events at member cities. Cottage Grove will host this event in October. • Invitation cards have already been sent out. The invitations are sent to MEDP members as well as to commercial brokers and other non-members. The event will be held at River Oaks Golf Course on October 18 from 1:00 — 3:00. Food will be provided River Oaks, consisting of snack trays and lighter fare. The event consists of two parts. First, city staff will make a presentation showcasing development opportunities in Cottage Grove. The presentations will be followed by a city tour. We have booked a mini-coach bus from Lorenz Bus Service. We used Lorenz for past city tours, and their vehicles are very comfortable. This is an excellent opportunity to promote Cottage Grove to businesses and developers. The primary focus of MEDP is industrial park development, but we will provide housing and commercial information as well. EDA members are welcome to attend the event. Refreshments will be served. Attachments • \\CG_FS2\CG_FS2_MAIN\Groups\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 MEDP Connect.doc Michelle Wolfe-Metro East Connections EventPage 1 j • From: "Lena Jacobson"<jacobson@medp.org> • To: <jacobson©medp.org> Date: 10/1/01 1:17PM Subject: Metro East Connections Event Metro East Please join MEDP members and guests on Thursday, October 18 for an informal networking event. This monthly event provides members with the opportunity to meet and interact while learning about real estate opportunities in MEDP member communities. This is the 11th in a series of events to help our members get connected. October's Event Sponsored by: • City of Cottage Grove A bus tour is planned to view Cottage Grove sites. Event Time: 1:00-3:00 p.m. Location: River Oaks Golf Course Banquet Room • RSVP: 651.265.2763 or Reply to this email Metro East Development Partnership 1N11 . � . Metro � A , a it' i, s'11y�./1,A1jrCo, ec� t Please join MEDP members CITY OF and guests on Thursday,October 18 COTTAGE GROVE for an informal networking event. 'This monthly event There will be a bus tour of provides members with the Cottage Grove sites. opportunity to meet and Event Time: 1:00-3:00 p.m. interact while learning about Location: River Oaks Golf Course real estate opportunities in MEDP member communities. Banquet Room This is the 11th in a series of Rsvp: 651.265.2763 i events to help our members get connected. Refreshments will be served Tables will be available for those who want to display promotional materials. www.medp.org City of Cottage Grove • Memo To: Economic Development Authority Members From: Michelle Wolfe, Assistant City Administrator Date: 10/03/01 Re: Calendar of Upcoming Events Item 4G EDA Meeting October 9 Washington County Labor Force Expo October 9, 8:00 — 12:00, Prom Center Chamber Board Meeting October 11 Chamber Silver Plate Dinner October 14, Mississippi Dunes, 6:00 p.m. Economic Development and October 16 Site Selection Conference (Sponsored by St. Thomas and the Minnesota Real Estate Journal) MEDP "Connections" October 18, 1:00 — 3:00 @ River Oaks Workforce Minnesota Conference November 1, RiverCentre (Sponsored by MnSCU and U of M) Chamber Board Meeting November 8 EDA Meeting November 13 EDA Meeting December 11 2002 Golf Tournament Tuesday, August 20 • \\CG_FS2\CG_FS2_MAIN\Groups\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Calendar.doc ICity of Cottage Grove • Memo To: Economic Development Authority Members From: Michelle Wolfe, Assistant City Administrator kdif Date: 10/04/01 Re: Development Update Materials Item 4H Staff is in the process of developing a summary of activities that have been taking place in Cottage Grove recently. This is being done in preparation for the City's annual All- Employee Meeting. However, it appears that the document may have other educational, informational and marketing applications. As of this writing the draft document is still in development. If time allows, it will be included in your packet. • Otherwise, it will be distributed at your meeting on October 9. We would appreciate your comments and input as to the information contained in the summary. • \\CG_FS2\CG_FS2_MAIN\GROUPS\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Dev Update.doc . =City of Cottage Grove • Memo To: Economic Development Authority Members From: Michelle Wolfe, Assistant City Administrator (VAde v Date: 10/04/01 Re: EDA Vacancy Item 41 It is anticipated that we will have a verbal presentation regarding the process for filling the existing EDA vacancy. • • F:\GROUPS\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Vacancy.doc City of Cottage Grove • Memo To: Economic Development Authority Members From: Michelle Wolfe, Assistant City Administrator r(11/0 Date: 10/04/01 Re: Senior Housing Item 4J Some time ago, the EDA had a discussion regarding senior housing. Staff is suggesting that we re-visit that topic due to recent developments. The City is anticipating receipt of block grant funds amounting to approximately $78,000 • per year for the next three years. The City Council has designated funds received in the first year to be used for land acquisition related to senior housing development. The Human Services Commission has been actively investigating and discussing senior housing options. With the City Council's emphasis on this as a goal, it seemed appropriate to revisit this topic with the EDA. Senior housing was not specifically designated as a priority goal in the most recent EDA Strategic Plan. Given the tax laws changes and the emphasis the City Council has placed on senior housing, staff wanted to provide the EDA with an opportunity to discuss what role, if any, they would like to have in the effort to promote senior housing development in Cottage Grove. 411 F:\GROUPS\PER_ECON\Economic Development\EDA Memos\2001\Oct 01 Sr.Housing.doc