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HomeMy WebLinkAbout2013.10.08 EDA MinutesMINUTES FOR THE EDA MEETING OF OCTOBER 8, 2013 Weidt called the meeting to order at 5:15 pm. PRESENT: Arcand, Denaway, Gallivan, Klein, Puleo, and Weidt ABSENT: Bever STAFF: Bryan Bear, City Administrator Rachel Juba, Planner Eric Maass, Community Development Intern APPROVAL OF MINUTES FOR THE EDA MEETING OF SEPTEMBER 10, 2013 Klein made motion, Denaway seconded, to approve minutes for the EDA meeting of September 10, 2013. All ayes. Motion carried. UPDATE ON MARKETING RFQ Rachel requested that Bryan provide the EDA with an update on his talks with the Lakeshore Players Theatre. Their interest in the land was important information for the EDA to consider as they moved forward with the potential selection of a marketing firm. Bryan informed the EDA that the City of Hugo was one of the locations being considered by the Lakeshore Players Theatre. The new theatre would have an approximate seating capacity of 286, and cost the Lakeshore Players about 4.5 million dollars to construct. Bryan stated he would inform the EDA when he received an update. Staff informed the EDA that they had received four applications from the marketing RFQ. The applicants were: Coldwell Banker, Bill Lentsch, Wakota Commercial Advisors/High Pointe Realty, and Northco Real Estate Services. Coldwell Banker and Bill Lentsch failed to provide much of the requested material located in the RFQ. Wakota Commerical Advisors/High Point Realty and Northco Real Estate Services provided much more complete applications. Wakota stated that they would require a 7% commission upon the sale of the land, or an 8.5% commission if the sale was a co - brokered transaction. Wakota stated they would complete a web based marketing campaign in addition to cold calling potential buyers, and providing signage on the property. Wakota demonstrated their experience with restaurants and commercial properties through a listing of successfully completed projects. Northco Real Estate Services stated they required a $0.50/square foot commission upon the sale of the land. Northco stated they would complete a web based marketing plan in addition to completing cold calls, creation and distribution of marketing brochures, as well as providing signage on the property. Northco demonstrated their experience with commercial and restaurant properties with a list of successful clients served. The EDA determined that it was in the best interest of the City to postpone entering into an agreement with a marketing firm, until the City determines whether or not projects already being worked on by City staff are viable. EDA requested staff thank each of the applicants for their submissions and notify them of the EDA decision to postpone a decision. UPDATE ON WASHINGTON COUNTY ECONOMIC DEVELOPMENT WORKGROUP Rachel informed the EDA that David Unmacht of Springsted Inc. would be present at the November 12th EDA meeting to present the process being taken by the workgroup. Bryan stated that David would be looking for input from the EDA about the process and requested they each take some time to prepare themselves. UPDATE ON DOWNTOWN DEVELOPMENT Bryan informed the EDA that Bill Lentsch is preparing to submit an application with the City for a 100 unit senior housing project. The project is to be located west of Lions Park, and potentially accompanied by market rate apartments. The senior housing will be managed by Keystone Senior, LLC. Keystone Senior would be new to the State of Minnesota, as currently it only has facilities in Iowa, Massachusetts, Ohio, and Colorado. Denaway commented that it was important that the senior housing project and the market rate apartments were located on two separate parcels to ensure future finance flexibility. Arcand inquired if any movement was taking place with downtown property owned by Pete Sampair. Bryan informed the EDA that while there is an interested developer, no movement had taken place because an additional private land transaction needed to take place to allow for an extension of Finale Avenue. Both parties would benefit from this extension. EDA DISCUSSION Arcand requested an update on NRI. Bryan informed the EDA that steady progress was being made on the site. Once the site is clear the property owner will be moving the location of the vehicle scale, removing the northern driveway access, re -grading the site, paving areas, and installing new landscaping. ADJOURNMENT Klein made a motion, seconded by Puleo, to adjouni at 5:43 pm. All ayes. Motion carried.