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HomeMy WebLinkAbout4.a. Project Updates E X E C U T I V E S U M M A R Y Port Authority Meeting Date: February 16, 2021 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.a. ATTACHMENTS: None. APPROVED BY: LJM RECOMMENDED ACTION: Information Item. ISSUE Previous discussions with the Council and Port Authority indicated a desire for more information regarding completion of workplan activities. The following highlights some of the project and economic development activities since the last Port Authority meeting. The Morrison: Third floor framing is in process. Carousel Way: Approximately 3,000 square feet of the 11,721 square foot building is still available for another tenant. Brewery: The new brewery user has submitted an LOI with a local land owner. Staff is scheduling a meeting with the land owner and brewery regarding next steps. The Clover: A building permit was issued, and the space has been undergoing a minor remodel since the end of November. A final inspection is required to check egress lighting and fire safety. The new owners indicated they plan to open to the public sometime in March. The liquor license was approved by both the City and State. Israelson property: Staff is working to set up a meeting with Warren or Luke regarding the commercial lots along County Road 42. We will be exploring their interest in building a speculative commercial multi- tenant building. Merchants Bank site: No updates at this time. Akron Ave: Tentatively looking at March 2nd Council Session to discuss timeline associated with Community Center. UMore Residential: No new information at this time. Tobacco Shop: Building plans have been submitted for a tenant buildout next to the Verizon store. DCTC: Work on the Vet Clinic has largely been completed pending relocating the fire sprinklers. McDonalds: Inspections for the interior remodel occurred on January 28th and the project is complete KJ Walk 2800 145th Street: The building permit for the caretakers/office/meeting room building located at the entrance to the apartment complex was issued for pickup on January 27th. Plumbing, mechanical, water, and electrical permits are still needed. CDA Property: 3 Letter of Intent have been submitted by developers for the CDA residential property on Akron. Kraus-Anderson: Staff met with representatives of Kraus-Anderson regarding infill development on the Cub Foods parking lot. While the lot could someday host a new commercial building, Cub’s lease currently prohibits new development on the parking lot in order to maintain guaranteed parking minimum, site lines and visibility from County Road 42. Kraus-Anderson did indicate their interest in other sites in Rosemount, including the Akron area. Their interest lies in mixed income developments. Similar to other developers, they believe more dense housing is needed to support a full Akron commercial build out. Kraus-Anderson is unconformable doing additional commercial at such a site at this time given market uncertainties and population counts. INDUSTRIAL UMore Industrial site: There is no new information. Biscayne Business Park/ Cerron Commercial Properties: Plans have been submitted for the commercial bakery, Valley Natural Foods. They will take up approximately 8,000 square feet of the 17,000 square foot building. A conditional use permit is being processed in conjunction with the project; it is scheduled for the Planning Commission meeting on 2/23/21. In addition to Epic Wraps, a third tenant— Tune Plus—has submitted plans for review. With the three tenants the building will be full. Rosemount Business Park: Staff has had some new discussions with consultants, resurrecting the Osprey project previously put on hold. Opus Site: No new information. Mosaic: Certificate of occupancy has been issued and Biofuels building is in progress awaiting a final safety inspection OTHER Grants: Dakota County offered another round of grants for liquor license holders throughout the County. The grants were $5,000. Grant awards for businesses in Rosemount included: Celts, Carbone’s, Fireside, Las Tortillas, House of Curry, the Legion, the VFW, Giuseppe's, and the Rich Valley Golf Course. Staff worked with the Rosemount theater to apply for an industry specific grant through the Minnesota Department of Employment and Economic Development. They were awarded a total of $110,000. The City applied for a $20,000 grant for 2 Level II Electric Charging stations to be located at the MTVA Park and Ride. Business Luncheon: Staff has received 66 confirmations from local businesses for the Business Application gift card program. Home and Business Expo: We currently have 20 vendors signed up for the Expo on May 8 at Hope Fieldhouse. We are sending out one more email to local businesses and will then open up to larger audience.