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Minnesota MEMORANDUM TO: Jim Ericson, City Administrator Heidi Steinmetz, Economic Development Specialist FROM: Gordon Hughes and Cathy Bennett, ULI Minnesota DATE: June 19, 2012 SUBJECT: ULI Minnesota Navigating the New Normal Workshop On behalf of ULI Minnesota, thank you for the opportunity to meet with the City Council, Planning Commission, Economic Development Commission and you on June 14, 2012. Our ULI MN workshop team enjoyed our dialogue with you and appreciated your hospitality. We also appreciated the time that you spent with us in preparation for this workshop. As a follow up to the workshop, we would like to take a moment to summarize some of the key observations expressed during our dialogue and panel discussion. • Data on demographics, employment and jobs in Mounds View, presented at the workshop, offered a point of reference for trends that will affect the City in coming years. Please feel free to contact us if you have any follow up questions on the data presented at the workshop. • Mounds View is well positioned and well served with respect to proximity to major retailing. However, the majority of retail supply is already located in adjoining cities. Major retail development and redevelopment in Mounds View is unlikely in the near term due to demand considerations. (Limited demand is a characteristic of most cities in the metro area with most sectors being overbuilt.) However, smaller projects focusing on convenience, service, "experience" and community gathering spots are possible in a number of settings in the City; particularly situated along County Road 10. • Mounds View has a number of key strengths and assets to leverage. It is located close to transportation linkages and has a vibrant job base which has expanded markedly due to the Medtronic project. Mounds View's proximity to the sports center in Blaine is also considered to be a key asset. While, terrific schools contribute to the City's positive reputation. • If the Gen Y group finds the community desirable when they are younger they are more likely to remain within the existing or new housing stock as they settle down with their