2017_1017_REDA Minutes - Laserfiche WebLink

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REDA Meeting Minutes—Tuesday,October 17,2017 Page 9 department activities for 2017 to-date and to seek direction for several "next steps" from the REDA. The staff presentation included preliminary data from the Golden Shovel website (Attachment A); fund balances as of August 14, 2017 (Attachment C); Revolving Loan Fund service through Central Minnesota Development Company (CMDC —Attachment D); and a legal opinion from REDA Attorney Martha Ingram related to HRA tax levies (Attachment B). Details related to business retention and expansion in the community to-date was reviewed, including ambassador and business visits and staff's respect for those businesses contacted but declining a city visit; workforce development issues and tools available in the community through partnerships with area schools with direct input by employers seeking employees; major commercial projects that to-date are the second highest commercial new construction valuation in the last decade at $29.5 million; and the third highest commercial addition/alteration(expansion) valuation in the last decade at $26.2 million. Staff reported that twenty-one new construction permits for single-family and/or townhomes had been received, with eleven additional permits in the plan review stage, representing the second highest year in the last decade. Ms. Kelsey reported on several businesses that staff had worked with through some trouble spots during 2017. With development and residential projects, Member Willmus asked if staff was able to track how soon those properties were marketed and sold, requesting that additional information from staff (e.g. Wheaton Woods, Farrington Estates, Garden Station) and their price points and if they're moving as expeditiously as hoped. President Roe suggested staff prepare a monthly email blast to the City Council about their activities versus only one annual report providing longer- term issues, allowing for a fresher monthly approach. Instead of an email blast, Member Laliberte suggested a standing document allowing staff to simply plug in new information as the EDA became accustomed to reviewing commercial and residential permit statistics. Member McGehee suggested something similar to this presentation, with the one page telling it all. President Roe also suggested success stories other than those highlighted in the newsletter that may be outside the public information realm but still of interest to the EDA.