10-02-2023 JDA Agenda Packet - Laserfiche WebLink

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she did not believe a date could be set. Director Collins commented as of last Friday, the developer was seeking some form of compensation in the event this body cannot get to a development agreement. She explained she discussed this further with the developer and was proposing to bring the old preliminary development agreement before the JDA for consideration. She reported this agreement would between the JDA and the developer. She explained another agreement would be drafted (and run parallel with the MDA) between the County and the developer to address a scope of deliverables. Commissioner Monson encouraged the developer to bring renderings to the September 27 JDA meeting. Commissioner Frethem supported the JDA selecting a date for the community engagement event to ensure the event happens. She did not want to delay the process and noted she has faith in Alatus. She explained she preferred to hold the community engagement event on October 26. Commissioner Monson suggested the community engagement event be held on November 1 or 2. Commissioner Reinhardt supported holding the community engagement event on November 1. She anticipated the County Board would like to learn more about the compensation/scope of deliverables that were being pursued with Alatus. Director Collins reported she made it clear to Mr. Lux that the County Board would have to approve a compensation/scope of deliverables agreement and he understood this. She explained the trajectory of this project was unique and she understood the risks Alatus would be assuming in order to move this project forward. Commissioner Monson encouraged the board to be sensitive to the timeline and to have an alternative in mind for this project. She recommended the JDA have a date in mind on when an alternative will be pursued. Chair Wicklund recommended staff reach out to Commissioner Fabel to see if he would be able to attend a community engagement event on November 1, with the alternative date being November 2. Real Estate Market Presentations Director Collins stated experts on the local real estate market have been invited to present to the JDA. She explained there will be four presentations, followed by a time for questions and discussion. Amanda Taylor, GREATER MSP Partnership, introduced herself to the JDA commented on the public and private sectors that support GREATER MSP. She provided a presentation on the current growth opportunities and industrial market needs in the Minneapolis/St. Paul metro area. She discussed how the Rice Creek Commons project was an economic opportunity for all.