HomeMy WebLinkAbout4.a. Project Updates
EXECUTIVE SUMMARY
Port Authority Meeting Date: March 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: Fourth floor framing is in process.
Carousel Way: A Ribbon Cutting is scheduled for April 7th at 11:30 am. Approximately 3,000 square feet
is available for another tenant.
Brewery: The new brewery user met with staff and land owner and brewery regarding next steps. They
hope to have plans into the city for initial review in late spring. City staff is also trying to determine which
liquor license would be most appropriate for the venue to conform with the State of Minnesota
regulations. We are having discussions with the operator about their conversations with State licensing.
Dave Schmitz is currently in the process of securing financing. This past week the bank approved their
credit request and the SBA part of the loan is almost finished. Once the financing is in place, APPRO will
start moving forward on construction and will need about two months before the actual building can
start. Their goal is to have a shovel in the ground by early June with a completion date around the end of
November.
The Clover: The owners plan to open the week of March 15th and staff has scheduled a Ribbon Cutting
for March 25 at 3:30 pm.
Israelson property: Staff met with Warren or Luke Israelson regarding the commercial prospects. They
are open to building a speculative commercial multi-tenant building if they were able to have one or two
users lined up. Also, they indicated they could have a rendering of a multi-tenant commercial space drawn
up to help staff with promotional and marketing outreach.
Merchants Bank site: No updates at this time.
Akron Ave: The City Council discussed the Recreation Center at the work session on March 2. Staff is
working on agreements for the operations, financing, and land purchase.
UMore Residential: No new information at this time.
CDA Property: Three Letters of Intent were submitted by developers for the CDA residential property
on Akron. The CDA will post discussion for April meeting and actual discussion will take place at May’s
meeting.
Speedway: After many emails and calls to the County, Staff was able to review the Bankruptcy Court
records. The owners (as individuals) filed Chapter 7 bankruptcy on December 9, 2019. They were granted
a discharge of their individual debts on March 9, 2020. The personal bankruptcy case is now closed. The
ownership continues to lie with Hasbrouck Holdings along with Hasbrouck of Rosemount. Those
companies did not file bankruptcy and remain the owners. There is a court date for May 25, 2021 which
will be the finalizing of the foreclosure of the property. Barring an objection, once this foreclosure is
completed, there is a third party to purchase the location. Staff was told it would be re-opened as a gas
station, possibly a Shell.
Kraus-Anderson: The Port Authority and staff toured Kraus-Anderson’s Chamberlain Apartments in
Richfield on March 4, 2021. This is an example of mixed income housing project that could be feasible in
Rosemount. Matt Alexander of KA indicated he is familiar with Rosemount due to prior projects in the
area, and would be interested working on a residential project within the City.
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 and the Council will consider approval of the Conditional Use
Permit at the March 16 meeting. The associated building permit is concurrently being reviewed
administratively.
Rosemount Business Park: Discussions continue regarding the Osprey project. the City’s financial
consultant has begun work on TIF District documents.
Opus Site: No new information.
Car Condo Project: Staff was informed that the car condo project is not moving forward. This project
was approved prior to COVID and the applicant had chosen to wait to begin construction. We have now
been informed that it is on indefinite hold.
OTHER
Business Luncheon: Staff has received 82 confirmations from local businesses for the Business
Application gift card program. Staff purchased gift cards from local restaurants and will be sending them
to businesses along with a letter the week of March 15.
Home and Business Expo: We currently have 31 vendors signed up for the Expo on May 8 at Hope
Fieldhouse. We are reaching out to businesses that signed up in previous years with an individualized
message. If you know of any businesses in the area we should contact, please let staff know.