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EDC Minutes <br /> May 1, 2013 <br /> Page 2 of 5 <br /> Commissioners discussed the advantages and disadvantages of each location. <br /> Commissioner Huninghake stated that North Heights Lutheran Church would not be his <br /> preferred choice for 2013 due to the closure of Highway 96 and the difficulty of driving to the <br /> north part of the City. <br /> Councilmember Werner suggested that one advantage of Flaherty's is that it is located in the <br /> B-2 Business District. <br /> Chair von Holtum added that Flaherty's is a long-time local business and he likes the idea of <br /> supporting a local business. <br /> It was the consensus of the Commission to hold the 2013 State of the City event at Flaherty's <br /> Arden Bowl. <br /> Community Development Director Hutmacher asked whether Commissioners had a <br /> preference for the date of the event. <br /> It was the consensus of the Commission to schedule the State of the City event for Thursday, <br /> September 12, 2013, 7:00 to 9:00 am. <br /> Commissioners suggested that possible presentation topics include TCAAP, the B-2 District <br /> Improvement Plan, the Lexington Station development project, and road construction. <br /> Commissioners suggested that it might be helpful to have a MnDOT representative speak. <br /> B. Commercial/Industrial Property Analysis <br /> Community Development Intern Bachler stated that the Community Development Department <br /> has begun an analysis of the City's commercial and industrial property. He identified the sources <br /> for the data used in the analysis and reviewed the data and preliminary findings. <br /> Commissioner Erickson inquired about the purpose of the analysis. <br /> Community Development Director Hutmacher replied that as the City considers reinstating or <br /> revising the Economic Development Authority Revolving Loan Program, establishing a business <br /> expansion and retention program, or commencing area plans for any of the business districts, it <br /> would be helpful to have better information on the strengths and weaknesses of the City <br /> commercial and industrial real estate market. <br /> Community Development Intern Bachler noted that the City's overall vacancy rates were <br /> consistent with vacancy rates in the northeast quadrant submarket. Vacancy rates for specific <br /> uses or within certain business districts, however, vary from the submarket rates. For example, <br /> the vacancy rates for industrial property in the Gateway Business District is only 2.8%, <br /> compared to 20.7% in the Red Fox/Grey Fox District. The office vacancy rate in the B-2 District <br />