3.1 EDSR 06-11-2012 - Laserfiche WebLink

Home Browse Search

Economic Development Authority Minutes Page 2 June 11,2012 Councilmember Motin stated that it is his understanding that the property on the west side is supposed to be highway commercial and the property on the east side was supposed to be industrial. Mr.Wilfahrt stated he believes the entire property is zoned to be either highway commercial or industrial. Councilmember Motin expressed concern with the biggest piece of property close to the highway being industrial. He does not want to see the development get too bogged down by industrial. He stated that this concern is premature now but asked that staff review what was intended for that area.Mr.Wilfahrt stated that staff will make sure the uses are consistent with what was laid out for the area in the Focused Area Study and the Comprehensive Plan. 6. Main Street Parking Plaza Update Mr.Wilfahrt provided a brief update of the Main Street Parking Plaza. He stated that completion of the plaza is anticipated for June 28. He added that staff has received a few concerns over the dumpster location and stated that the dumpsters will move to their permanent location once the lot is complete. 7. Branding and Marketing Update Mr.Wilfaht provided a branding and marketing update as outlined in his staff report. 8. Announcements Commissioner Motin stated that he attended the Minnesota Restaurant and Real Estate Forum along with President Tveite. Commissioner Motin reviewed some of the highlights from the conference including: • Increased tendency for restaurants to purchase property rather than rent. • Very difficult for restaurants to get bank financing these days.More and more franchisors are beginning to get more involved with financing. • Retail and restaurant development has picked up in the past couple of years. • The Minneapolis/St.Paul area is a difficult place for restaurants compared to other metro areas due to local sales and real estate taxes. • Big box stores are having a tougher time.The importance of anchor tenants is decreasing. • Encourage developers to think about future tenants for building property,not just the first tenant.This can decrease costs and problems in the future without too much additional cost now. • Some city staffs are being picky on some very minimal issues,but are missing or approving bigger items that developers would have thought would be hot button issues.The staffs also seem to be feeling under pressure to approve a development just to get the development done,rather than to consider the impact of the development on the surrounding area. • Get to know your customers.About every ten years is a generation. Currently, texting is more and more how word gets out. President Tveite stated added a couple additional points from the conference: • Restaurants across the board have seen an increase in sales but fast casual(the tier above fast food) has had the most significant growth in the past two years. • Real inconsistencies from city to city on how things get enforced.When a city works well with the developer,it gets noticed and word gets out between developers.