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HomeMy WebLinkAbout4.a. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: October 19, 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 City 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: Demolition of the Medi-Car building began on October 14th. The expansion of the parking lot is expected to be completed within the next month. The first half of the building is nearing completion and recently passed the plumbing inspection. Leasing has begun with move-ins expected sometime in early to mid-November. An open house occurred in the model unit on October 14th. Breweries/Tap Houses: The Council approved the Omni Orchards application on September 21st. The initial building will be an 8,000 s.f. tasting room with a 4,000 s.f. patio. Omni is scheduled to close on the property late October, and grading is still expected to begin this fall. Due to contractor scheduling the building permit will most likely be submitted at the end of November. The Council approved the application for the Tap Society’s new 3,800 s.f. tap house as part of the Morrison Development on September 21st. Demo work began on October 14th. Dave Schmitz/North 20 Brewing had a groundbreaking on October 3rd. Work on the foundation is in progress. Summit Dental: Grading work has begun on the Merchant’s Bank site. Israelson property: Staff spoke with Warren Israelson in September and he indicated that they have prepared building plans and elevations for the commercial space . He is still expecting to submit the final plat application for the first two senior apartments and commercial space in 2021. Rec Center: Work on the public-private partnership Recreation Center conti nues. The purchase agreement for approximately 13 acres of land should be considered by the City Council in the coming weeks, which would initiate the project in earnest. Downtown BP Gas: The building is undergoing a façade and exterior renovation. Los Tortillas: The owner indicated they are planning to move forward with a patio on the parking lot side of the building, similar to the Fireside patio. They will also be expanding into the adjacent vacant space. This is likely to occur in spring 2022. UMore Residential: Amber Fields is working through the master development agreement and will be submitting for a final plat of all the outlots that encompass the different phases of development. CDA Property: The CDA presented the sale of the Akron property to the CDA Board at the September meeting. The CDA selected the proposal from Schafer Richardson. Retail: Staff met with a national retailor interested in a 4,000 s.f. building near Highway 3. County Road 42: Emerald Isle: Staff spoke with developers interested in the high-density parcel. Bester Property: A developer has proposed over 200 units of single family and townhomes on the northern section of this property. Connemara would be extended to serve the development and open up the commercial designated land on the southern portion of the site. Flint Hills: Flint Hills owns the land directly to the east of the Bester property. They are in discussion with the adjacent landowner to swap parcels. This site is currently guided for Business Park, which can include commercial. El Dorado Packaging: ProAmpac bought El Dorado in May. The signs outside the building have been changed to reflect this. Akron Avenue & County Road 42: Staff is reaching out to commercial users regarding sites along Akron. Several parties have expressed interest, especially as plans for the rec center move forward. Staff is scheduling further talks with a grocer regarding this site. Multi-Family: Staff continues to meet with multi-family and mixed-use developers for sites at Akron, UMore , downtown and other sites . Interest in multifamily housing remains elevated. Luxury Townhome Rentals: Staff is working with a developer interested in developing luxury townhomes. Staff met with the developer on October 14th to go over next steps in the submittal process. INDUSTRIAL UMore Industrial site: Staff continues to meet with potential industrial users for the UMore site . The prospective user is highly interested in the site and further talks are scheduled. Currently they are discussing access agreements with the University. Biscayne Business Park/Cerron Commercial Properties: APPRO finished work on the first spec building, which is completely leased. A ribbon cutting for the entire building and the three businesses occurred on October 1st. The building owner told staff he was planning on moving forward with a second spec building in the upcoming months. Rosemount Business Park: Project Osprey began site mobilization and grading work the week of October 10th. Staff finalized the Development Agreement and TIF Agreement, and the TIF Agreement was approved by Council on October 5th. Staff is currently working with DEED and the business on the grant and contract agreements for the MIF loan program . Staff expects to hear back on the TEDI grant sometime in late October or early November. A developer is exploring a possible spec industrial project immediately south of the Business Park. Preliminary concept plans have been shown to the council at a work session, where a general support was indicated. Opus Site: Staff met with a potential industrial user in October regarding potential development on the Opus/Flintlock 52 site and is moving forward with an NDA. Staff also spoke with another industrial user interested on the site. Scannell Project: The plat and rezoning for the Rich Valley Golf Course redevelopment is going to Council on October 19th. The site plan was approved by the Planning Commission at the September meeting. Currently the project is in the adjacent community review period as required by the Met Council. OTHER Downtown Façade Grant: Interest in the downtown grant program is high. Currently there are four applications submitted. Staff will reach out to additional businesses as these projects move forward depending on funding availability. Several businesses have indicated they would like to apply in the future if the program is continued. Getting bids from contractors is proving to be the biggest hurdle in moving forward with grant agreements. Both businesses that have applied are businesses that have indicated they are having difficulty securing bids from contractors. Staff is trying to be flexible with the application process to accommodate the shortage of companies able to perform the façade work. EDAM: Staff attended the Economic Development Association of Minnesota’s Fall Conference in Duluth at the end of September. Topics included real estate and construction trends, redevelopment and re-use strategies, real estate financing, and other related topics. Tourism Grant: Staff applied for a Recovery Tourism grant through the State of Minnesota. The events that could be covered by the June 1, 2022, deadline include; Night on the Town, The Christmas Tree Lighting, and the Rosemount Home & Business Expo.