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Home My WebLink About3.1 8-22-2022 EDA Special Meeting Minutes CITY OF COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY ____________________________________________________________________ MINUTES Economic Development Authority (EDA) Special Meeting August 22, 2022 Pursuant to due call and notice thereof, a Special Meeting of the Economic Development Authority was held on the 22nd day of August, 2022, 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 Assistant Mann called the roll: EDA President Bailey-Here; EDA Vice President Dennis-Here; EDA Member Krohn-Here; EDA Member Myers- Here; EDA Member Scott-Here Members Present: Myron Bailey, EDA President Steve Dennis, EDA Vice President Joe Krohn, EDA Member Dan Myers, EDA Member Sandi Scott, EDA Member Members Absent: Chris Carey, EDA Member Eric Thiewes, EDA Member Staff Present: Gretchen Larson, Economic Development Director Jennifer Levitt, City Administrator Jaime Mann, Assistant to the City Administrator Others Present: None. APPROVAL OF MINUTES 3.1 Approval of August 9, 2022, EDA Meeting Minutes EDA Vice President Dennis made a motion to approve the August 9, 2022, EDA Meeting Minutes. Motion was seconded by EDA Member Krohn. Motion passed unanimously (5-to-0 vote). BUSINESS ITEMS 4.1 Economic Development Update/Business Inquiry Gretchen Larson, Economic Development Director, reviewed project updates and upcoming events: Project Updates: Cottage Grove Logistics Park: Full building permits have been issued for the first two buildings: Building 1-Walls are completed, roof is being installed; Building 2-Footings and plumbing underground work have been completed, with tip-up panel installation beginning this month. Renewal by Andersen: Building permit was issued for their 343,000 square-foot expansion. Leafline Labs: The footing/foundation permit has been issued. Park Place Storage: Plans have been submitted for their fourth building. They requested a change in materials due to supply chain issues, which requires submittal of revised plans for review and approval by the Building Division. The Planning and Engineering Divisions need to verify compliance with the original 2017 resolution that approved the project. Events: Economic Development River Cruise: On September 13; you were sent an email with an RSVP link, so please respond by September 1 so we can have an accurate head count. CompCare Urgent Care: 7500 80th Street South, Ribbon Cutting on August 25, at 3:00 p.m. Join us to welcome them to Cottage Grove. Pine Harbor Christian Academy: 11125 West Point Douglas Road, Ribbon Cutting on August 29, at 3:00 p.m., to celebrate their expansion. 4.2 First Amendment to the Purchase Agreement - Ryan Companies Director Larson stated Ryan Companies notified the City Administrator that they needed more time to complete their project; they requested an extension of their closing date to March 3, 2023. The City doesn’t have any objection to the extension, subject to the following conditions: • $35,000 of the original earnest money becomes nonrefundable on September 1, 2022; • If approved by the EDA, an additional $20,000 is required in earnest money, to be deposited with Title within three (3) days following the effective date of the First Amendment; • If they proceed to closing, then the original and additional earnest money will be applied to the purchase price at closing. Recommendation: By motion: 1) Adopt Resolution 2022-010 consenting to the First Amendment to the Purchase Agreement between WAG Farms and the EDA and Ryan Companies US, Inc. and the First Amendment to the Purchase Agreement between the EDA and Ryan Companies US, Inc. 2) Authorize the EDA President and the City Administrator to execute the First Amendment to the Purchase Agreement with WAG Farms to extend the Closing Date to March 3, 2023. 3) Authorize the EDA President and the City Administrator to execute the First Amendment to the Purchase Agreement with Ryan Companies US, Inc. to extend the Closing Date to March 3, 2023, subject to minor modifications by the City Attorney. Economic Development Authority - Special Meeting Minutes August 22, 2022 Page 2 of 2 EDA Member Myers made a motion to Adopt Resolution 2022-010 consenting to the First Amendment to the Purchase Agreement between WAG Farms and the EDA and the First Amendment to the Purchase Agreement between the EDA and Ryan Companies US, Inc. Motion was seconded by EDA Vice President Dennis. Motion passed unanimously (5-to-0 vote). EDA Member Krohn made a motion to authorize the EDA President and the City Administrator to execute the First Amendment to the Purchase Agreement with WAG Farms to extend the Closing Date to March 3, 2023. Motion was seconded by EDA Vice President Dennis. Motion passed unanimously (5-to-0 vote). EDA Member Scott made a motion to authorize the EDA President and the City Administrator to execute the First Amendment to the Purchase Agreement with Ryan Companies US, Inc. to extend the Closing Date to March 3, 2023, subject to minor modifications by the City Attorney. Motion was seconded by EDA Vice President Dennis. Motion passed unanimously (5-to-0 vote). PUBLIC HEARINGS - None. OTHER BUSINESS 6.1 EDA Calendar EDA President Bailey stated a calendar had been given to each of them, which highlights the upcoming events mentioned earlier by Director Larson. 6.2 EDA Comments EDA Vice President Dennis stated on September 6, 2022, at 7:00 p.m., he and Mayor Bailey will hold an hour long Facebook Live event. It will focus on economic development; so, we’ll give people an update on things that have happened since we returned from ICSC in Las Vegas, as well as some new things that are going on. We’ll provide opportunities for people to ask questions in real time, and we’ll do our very best to answer all of those questions. We believe it will be fun and very exciting. EDA President Bailey commended our staff as about two weeks ago, we had the opportunity to meet with a landowner and a developer in town about the Shoppes at Cottage View. He shared that the meeting went extremely well, we’ve received very positive comments and information back from both parties. It was amazing to really market our City; we also took them around town in a bus to show them all of the things that are happening in our community, and they were quite impressed. We’re keeping our fingers crossed; obviously, the landowner and the developer have to work together. EDA President Bailey stated the EDA recently approved doing the hotel study, as did the City Council. He asked Director Larson to comment; she stated everybody’s excited, as all of the hoteliers that we’d already met with want a copy of the study, and they’re all interested in a location in Cottage Grove. Not only do we have interest, but also might have competing interests; so, we’ll see what happens with that. EDA President Bailey stated it was good to see that we had a very reputable hotel chain reach out to us and say they’re ready to work with us on a significant hotel in Cottage Grove. Director Larson stated it’s exciting news. 6.3 Response to Previous EDA Comments - None. 7 WORKSHOP - None. 8 ADJOURNMENT EDA Member Myers made a motion to adjourn. Motion was seconded by EDA Member Scott. The meeting adjourned at 7:52 a.m. (5-to-0 vote). Respectfully submitted, Jaime Mann Assistant to the City Administrator /jag