03-14-2005 EDA MIN - Laserfiche WebLink

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Economic Development Authoriry Minutes March 14, 2005 Page 3 excited about the progress of the Northstar Commuter Rail project and the development potential for large employment-intensive industries adjacent to the Depot Station. Commissioner Tveite stated that he would be in favor of more discussion with the developers. He stated that the Duke proposal did not address the chunk of land between the gasline and the proposed YMCA site, and felt that a couple of smaller buildings could be sited there. Commissioner Dwyer stated that the developers should also keep in mind the option of the EDA marketing the lots on their own and to consider offering more tangible benefits for the EDA to market exclusive with one developer. Commissioner Klinzing stated that she had concems that since the City already has a development agreement with Amcon, that they would not want to compete with themselves. She stated that she did not feel either of the proposals were what the EDA was looking for. Commissioner Klinzing stated that the Duke Realty plan doesn't seem to be flexible enough. She stated if the City can't find tenants to occupy the units proposed would this tie up the possibility of the City being able to be more flexible with that property. She concluded that neither proposal looks exceptionally well at this point and maybe the City should develop the property at this time. Commissioner Motin stated that he had concems with the accesses on the Duke proposal, in relationship to the YMCA site. Discussion followed regarding how to proceed with the proposals and public improvements. The EDA directed staff to continue to obtain more information from the developers. Commission Klinzing commented even though the Commission is considering these two proposals, she would like to see the City not be "tied" up with the two current proposals making it impossible to deal with any other future offers. She also did not want to leave the discussion this evening with the intent of not entertaining any other proposal from any outside source. MOTION BY COMMISSIONER FARBER AND SECONDED BY COMMISSIONER MOTIN THAT THE EDA RECOMMEND THAT THE CITY COUNCIL AUTHORIZE A FEASIBILITY STUDY FOR PUBLIC IMPROVEMENTS FOR THE EDA BROWN PROPERTY. MOTION CARRIED 7-0. Chao- Gongoll asked City Engineer Terry Maurer if there would be adequate time to prepare the feasibility study. Mr. Maurer stated that much of the groundwork for the study has already been completed and once the study has been ordered, it would take approximately 30 days to complete the doatment. Semi-Annual Business Incubator Report: Harlan Jacobs, Genesis Business Centers Mr. Jacobs reviewed the semi-annual repor[, noting that the Incubator Program is making good progress despite the lack of venture capital funding resources from the Anoka Sherburne County Capital Fund and the Elk River Investment Club. He provided information regarding four start-up companies that are cun-ently considering the Incubator program. They are: