HomeMy WebLinkAbout2008.03.17 EDA MinutesMINUTES FOR THE EDA MEETING OF MARCH 17, 2008
EDA President Fran Miron called the meeting to order at 8:35 am.
PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Phil Klein, Brian Thistle, and Fran Miron
ABSENT: Mike Granger
CITY STAFF PRESENT: City Administrator Mike Ericson, Associate Planner Rachel
Simone, Administrative Intern Nate Ehalt
APPROVAL OF MINUTES FOR THE EDA MEETING OF FEBRUARY 19, 2008
Klein made motion, Denaway seconded, to approve the minutes for the EDA meeting of February 19,
2008.
All aye. Motion carried.
DISCUSSION ON FRENCHMAN CENTRE REDEVELOPMENT PROJECT SITE PLAN
AND TIF APPLICATION
Associate Planner Rachel Simone described the project site plan and progress to date of the
TIF application for redevelopment of the property which is currently occupied by the vacant
End Zone Bar and Restaurant. Rachel described the proposed 23,000 sq. ft building, its
architecture, and use of building materials, including the changes since October 2007, which
was the last time the EDA had seen the proposed plans. Tax Increment Financing was
discussed and is planned to be used for building demolition, public infrastructure and site
improvements.
After the presentation the EDA invited Dale Dockendorf and Bill Lentsch to give an
overview of their retail project and to take questions from the EDA. The EDA had questions
relating to the cost per sq. ft. of rental space, possible tenants, market viability, and land
acquisition and construction timelines. Dale and Bill informed the EDA that as of March 17,
2008 they had not secured any tenants but are working with a commercial brokerage firm to
market their space and solicit financing from possible private investors. The tenants they are
looking for would include those such a bakery, dentist, chiropractic clinic, or like tenants.
Market viability was a concern of the EDA's and Dale and Bill believe the commercial/retail
market for their type of building would not have a problem finding tenants and have been
diligent in promoting their project to potential businesses. Bill and Dale have also taken time
to study possible rental costs and have estimated that their rental space would be around
$17.00/sq. ft. They acknowledged that their timeline is somewhat determined by the action
of the EDA and TIF application but are currently set to close on the property in June, and
would like to get their project started as soon as possible thereafter.
A motion was made by Arcand, seconded by Bever, requesting staff to have Springsted
complete a scaled down review of the TIF application and have City Assessor Frank Langer
review the proposed plan for correct assessment valuation.
All aye. Motion carried.
UPDATE ON DOWNTOWN REDEVELOPMENT
Rachel gave an update regarding the Downtown Redevelopment plan and that little activity
has occurred since the last EDA meeting. Carpenter's is still progressing with plans to
redevelop their site, but have been working on securing financing for their project. City
Administrator Mike Ericson stated that the city expects to have continued interest due to the
article in a past issue of Finance and Commerce, which showcased Hugo's downtown
redevelopment.
UPDATE ON 2008 COMPREHENSIVE PLAN
Mike Ericson and Rachel Simone gave the EDA updates regarding the last meeting and the continued
citizen support and input regarding the process.
UPDATE ON 2008 HUGO KIDZ `N BIZ FEST
Mike Ericson discussed the on-going planning process and is looking forward to the
upcoming event on April 6th. Mike Ericson and EDA Vice President and Hugo Business
Association President Phil Klein are pleased that the City of Hugo and the HBA continue to
work together to put on this family friendly event for our citizens and local business owners.
ADJOURNMENT
Thistle made motion, Denaway seconded to adjourn the meeting at 10:20 am
All aye. Motion carried.
Respectfully Submitted
Administrative Intern Nate Ehalt