HomeMy WebLinkAbout2001.04.10 MINUTES CITY OF COTTAGE GROVE
ECONOMIC
DEVELOPMENT
AUTHORITY
MINUTES
April 10, 2001
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 10th
day of April 2001.
CALL TO ORDER
Jim Wolcott called the meeting to order at 7:30 AM.
ROLL CALL
• Members Present: Glen Kleven, Dick Pederson, Sandy Shiely, Gerard Weingartner,
Jim Wolcott, and Fred Luden.
Members Absent: None.
Others Present: John McCool, City Planner
Michelle Wolfe, Assistant City Administrator
Scott Johnson, Management Analyst
APPROVAL OF MINUTES
Jim Wolcott moved to approve the February 13, 2001 and March 13, 2001 Economic
Development Authority minutes. Sandy Shiely seconded the motion and the motion
carried unanimously.
Project Updates
Advance — The city may give Advance early access to the property to begin work (hold
harmless). It is hoped the closing will occur during the week of April 16tH
Tradehome—The closing will take place soon for this property.
Post Office—This project has been slowed because of a disagreement over fees.
The Majestic—Another group of investors has made an offer on the property.
Common Wealth Industries (Red Lake) — They are currently looking for venture capital.
They will know if they can proceed with their project by the end of the 2001 summer.
Canadian Pacific — Ryan had a meeting with CP last week, to work on the purchase
option.
Economic Development Authority- Minutes
April 10, 2001
Page 2
Buttenhoff Retail Project—The building of this project is taking place quickly.
Residential Projects—41 more lots are being prepared in the Pine Summit project.
Restaurants — There are four restaurant prospects, which are looking for sites in
Cottage Grove.
Box Retailer—Currently working on a site design.
Motion by Dick Pederson for the EDA to Purchase Property
Mr. Pederson made a motion for the EDA to purchase a 5+ acre site next to The
Majestic. Mayor Shiely seconded the motion. Fred Luden questioned where the funds
to buy the property were coming from. The EDA decided the funds would come out of
the EDA trust fund. The motion carried unanimously.
EDA meeting with the City Council
The EDA decided to schedule an annual meeting with the City Council in March of each
year.
EDA vacancy
•
The EDA has decided to wait to fill the vacant seat.
Redevelopment Projects
Grove Plaza — Home Depot has agreed to a market value for the minimum assessment
agreement and is currently working on the design of the store. The city and Home
Depot are currently reviewing storm drainage issues.
Cottage Square — The site configuration concept has been revised. There are several
issues to be refined including the budget for the project, relocation sites for existing
businesses, and road construction costs.
Advertising Update
Advertising Update — A new map ad and tuxedo ad will be sent to a few local
publications starting this week.
Commission Attendance
The EDA adopted a new attendance policy. If a member of the EDA misses two
meetings in a row, or three in a year, that member will no longer be a member of the
EDA.
S
Economic Development Authority - Minutes
April 10, 2001
Page 3
ADJOURN
Jim Wolcott made a motion to adjourn. Dick Pederson seconded the motion and the
motion carried unanimously. The meeting adjourned at 10:00 AM.
Respectfully submitted,
.)*--[fidwi/
Scott Johnson
Management Analyst
•
•