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HomeMy WebLinkAbout3.2 Approval of June 2, 2020 Special EDA Meeting Minutes CITY OF COTTAGE GROVE E CONOMIC D EVELOPMENT A UTHORITY MINUTES Special EDA Meeting June 2, 2020 Pursuant to due call and notice thereof, a meeting of the Economic Development Authority was held virtually via Zoom at https://cottagegrovemn.zoom.us/j/94160546792 on the 2nd day of June at 7:30 a.m. 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 Chris Carey, EDA Member Steve Dennis, EDA Vice President Dan Myers, EDA Member Erin Pash, EDA Member Rachel Smoot, EDA Member Eric Thiewes, EDA Member Members Absent: Jennifer Levitt, EDA Executive Director/City Administrator Staff Present: Robin Roland, Finance Director Christine Costello, Economic Development Director Matt Wolf, Economic Development Coordinator Others Present: Keith Dahl, Financial Specialist, Ehlers Inc. APPROVAL OF MINUTES 3.1 None BUSINESS ITEMS 4.1 Award Small Business Assistance Emergency Program Grants Economic Development Authority – Minutes June 2, 2020 Page 2 of 3 st Economic Development Director Costello presented on the 1 round of applicants that were received for the Small Business Assistance Grant Program and the need to revise the program guidelines to allow more businesses to apply for remaining funds. EDA Vice President Dennis motioned to approve nine (9) Small Business Emergency Assistance Grants each for $10,000 to All About Nails, Belissimo Salon and Spa, Mathnasium of Cottage Grove, Dance by Kris, Historic John P. Furber Farm, The Healing Place of Cottage Grove, New Century Salon, Las Margaritas, and Turbo Nails. EDA Member Pash seconded the motion. Motion passed 7-to-0. EDA Member Smoot motioned to approve revising three of the six eligibility guidelines to allow businesses to apply if they have been in business for one year instead of two, have between 3 and 70 full-time employees and make $3.5 million or less in annual gross revenue and provide a brief report to the EDA no later than November 1, 2020 on how the grant was used for eligible expenses. EDA Member Carey seconded. Motion passed 7-to- 0. stth 4.2 1 Amendment to Contract for Private Development and Subordination Agreement – 80 & Hemingway LLC. Economic Development Director Costello presented on the need to extend the closing date as a st result of the COVID-19 pandemic to July 1 for the former City Hall parcel that is to be developed th in to a market rate apartment project by 80 and Hemingway LLC. Economic Development Director Costello also stated that the subordination agreement needed to be signed because of the amendment to the development agreement. EDA Vice President Dennis inquired with the continuing delays that keep happening with the project, if this project is something that the EDA should continue to support. Economic Development Director stated that the developer is still committed to the project and does believe the project is going to move forward. Economic Development Director Costello further stated that the project did submit for a footing and foundation permit. EDA Vice President Dennis asked EDA President Bailey if the project has gotten to a point of needing a firm deadline for progression. EDA President Bailey stated that project did see some significant delays due to the request to try and incorporate the Washington County Library into the development. EDA President Bailey also stated that the developer did reach out to let him know that the project was seeing delays due to the COVID-19 pandemic. EDA President Bailey stated that overall, he believes the project will move forward. EDA Vice President Dennis said that the EDA will give one more extension to the project and adjust accordingly if the project does not occur moving forward. EDA Member Myers motioned authorize the First Amendment to the Contract for Private Development between the Cottage Grove Economic Development Authority and 80th & Hemingway LLC. EDA Vice President Dennis seconded. Motion passed 7-to-0. EDA Member Thiewes motioned to authorize the Subordination Agreement between the Cottage Grove Economic Development Authority, City of Cottage Grove, and Bridgewater Bank. EDA Member Smoot seconded. Motion passed 7-to-0. PUBLIC HEARINGS 5.1 None Economic Development Authority – Minutes June 2, 2020 Page 3 of 3 OTHER BUSINESS 6.1 Calendar EDA President Bailey pointed out that this was a special meeting of the EDA and the regular EDA meeting will be taking place next Tuesday, June 9. 6.2 EDA Comments EDA President Bailey mentioned that the City of Cottage Grove did put up banners in the City for Seniors that are graduating within the community and specifically thanked Leafline Labs and Tennis Sanitations for paying for the banners. EDA President Bailey also stated that with recent events in the City of Minneapolis that he wanted to thank staff and the work of the EDA that they are doing to support the business community. EDA President Bailey indicated that although the City of Cottage Grove did implement curfew for Saturday, May 30 and Sunday, May 31 at 8 pm each business is making their own decisions on if they plan to close early or not. 6.3 Response to Previous EDA Comments None WORKSHOP None AJOURN EDA Member Pash made a motion to adjourn. EDA Member Thiewes seconded. The meeting adjourned at 7:59 a.m. (7-to-0 vote) Respectfully Submitted, Matt Wolf Economic Development Coordinator