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Home My WebLink About4.a. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: December 21, 2021 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.a. ATTACHMENTS: DEED Employment Numbers. 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: The first half of the building has started move-ins and is continuing interior work on the second phase. With the completion of first residential phase, the City is moving forward with the issuance of the TIF note. This item will come to the Port in January. Breweries/Tap Houses: OMNI Orchards: The land was closed on during the week of November 1st and expect to submit items for a building permit this winter. Tap Society: No update at this time. Dave Schmitz/North 20 Brewing: No update at this time. Summit Dental: Shell work has begun on the Merchant’s Bank site and staff is working with the building owner on the timeframe for a second building. Lorenz Clinic: The Lorenz Clinic is completing a tenant buildout for a new medial user in the recently opened medical professional building. Israelson properties: HWY 3/42: Staff spoke with Luke Israelson in on December 21 regarding the building plans and elevations for the commercial space. Rosewood Crossing: A building permit was issued the next 32-unit apartment building. Rec Center: Work on the public-private partnership Recreation Center continues, with now weekly meetings with the project team. 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. 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. Staff met with several developers interested in the multifamily sites of Amber Fields. CDA Property: The CDA and Schafer Richardson are working on the finalizing the purchase agreement. Project submittals will likely come after the first of the year. 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 scheduled several meetings with C-stores regarding sites on the Northeast section. 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. Staff met with several developers in November and December. Restaurants: Staff met with two entities interested in potential restaurant operations. Any new food and drink space will likely have to be new build as there is not any current inventory that can accommodate any operation over 2,000 square feet with outdoor space. Bus Terminal: Staff spoke with officials from ISD 196 regarding the bus facility on Hwy 3. They indicated a desire to move their operation to an indoor facility elsewhere within the district and have a desire to sell. Both the owners of the Sun Belt Rental and the school district have indicated a desire to redevelop the property. Currently the biggest hurdles are finding sites to relocate the existing operations and how the planned changes to County Road 42 would affect the site. 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. Biscayne Business Park/Cerron Commercial Properties: APPRO/Cerron continues to work with a few potential prospects for new spec industrial space. Rosemount Business Park: 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. Staff met with several other industrial users who were interested in the remaining Pahl property in the Business Park. Staff is submitting numerous RFIs on industrial sites, which is showcasing the continued interest in Rosemount’s industrial sites. Opus Site: Staff met with a potential industrial user in December regarding potential development on the Opus/Flintlock 52 site and is moving forward with an NDA. Other industrial users have expressed interest in the site. Scannell Project: The Met Council approved the land use change in December. OTHER Downtown Façade Grant: Five businesses have fully executed grant agreements. As mentioned at the November meeting, getting bids from contractors are proving to be the biggest hurdle in moving forward with projects, so staff is trying to be flexible with the timeline on façade improvements as many will likely be completed in 2022. One project has been completed and has submitted paid invoices. Employer Awards: Dakota-Scott Workforce Development Board’s Legislative and Employer Awards Event were held virtually on December 10th. Silk Road Wellness was nominated for an award. 12/17/21, 8:55 AM News / Minnesota Department of Employment and Economic Development https://mn.gov/deed/newscenter/press-releases/#/detail/appId/1/id/513196 1/4 News Find news from prior years in DEED's digital library (hps://deed.contentdm.oclc.org /digital/collecon/p16105coll1). View enre list Steady job growth connues in Minnesota, outpacing the naon State unemployment rate cks down to 3.3% December 16, 2021 | Economic Development Minnesota gained 8,600 jobs in November, up 0.3% on a seasonally adjusted basis. The private sector gained 10,200 jobs, up 0.4%, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). The state unemployment rate cked down two-tenths of a percentage point to 3.3%, due to people moving from unemployment to employment. The labor force parcipaon rate declined slightly, to 67.7% from 67.8% in October, as 2,575 Minnesotans le the labor force. Naonally, the U.S. gained 210,000 jobs in November, up 0.1%, with the private sector adding 235,000 jobs, up 0.2%. The U.S. unemployment rate fell four-tenths of a percentage point to 4.2% and the size of the labor force increased by 594,000, pushing the labor force parcipaon rate up two-tenths to 61.8% in November. "Connued job growth this fall has put Minnesota on steadier path for growth" said DEED Commissioner Steve Grove. "Combined with significant wage increases, the job market in Minnesota is hot. We’re reaching out every day to assist thousands of Minnesotans in finding meaningful careers that will help advance our economy at this crical point in our pandemic recovery." Average hourly earnings for all private sector workers in Minnesota rose 42 cents to $33.79 in November over the month. Over the year average hourly earnings rose $1.73, up 5.4% and since November 2019 they are up 9.5%. Naonally private sector wages rose 4.1% over the year and 9.6% over two years. However, the Consumer Price Index, a measure of inflaon, rose 6.8% over the year in November and 8.1% over 2 years. 12/17/21, 8:55 AM News / Minnesota Department of Employment and Economic Development https://mn.gov/deed/newscenter/press-releases/#/detail/appId/1/id/513196 2/4 Minnesota lost 416,300 jobs from February through April 2020 and has since gained 304,400 jobs, or 73% of the jobs lost on a seasonally adjusted basis. The private sector has regained 77% of the jobs lost. In Minnesota, seven supersectors gained jobs and four lost jobs on a seasonally adjusted basis in November. Gains were in Leisure & Hospitality, up 2,900 jobs, Professional & Business Services up 2,100 jobs, Educaonal & Health Service up 1,600, Construcon and Manufacturing each up 1,500 jobs, Other Services up 1,200 jobs and Trade, Transportaon & Ulies up 600 jobs. Construcon employment is near an all-me high for this me of year. Losses were in Government down 1,600 jobs, Informaon down 700 jobs, Financial Acvies, down 400 jobs and Mining & Logging down 100 jobs. Over the year, Minnesota gained 114,609 payroll jobs, up 4.1%. The private sector gained 115,950 jobs, up 4.9% over the year. Eight supersectors gained jobs and three lost jobs. Informaon and Financial Acvies connued to show over the year losses, down 1,265 (-3.1%) and 3,353 (-1.7%) respecvely. Government also showed over the year losses, down 1,341 or 0.3%. U.S. employment grew 4.1% over the year with the private sector up 4.6% in November. All supersectors showed gains naonally over the year. Four Minnesota supersectors show strength over the year compared to the U.S.: Leisure & Hospitality, Construcon, Professional & Business Services and Manufacturing. Employment rose over the year in all Minnesota Metropolitan Stascal Areas. Many Minnesotans connue to be out of work, but the employment impact of the pandemic on workers has been difficult to measure. The pandemic caused some people to drop out of the workforce, lowering labor force parcipaon, which resulted in an unemployment rate below what would be expected given job losses. The table below accounts for this by showing an adjusted unemployment rate, based on 12-month moving averages, that includes both Minnesotans who are looking for work now and who would have been expected to be working or looking for work if it wasn't for the impact of the pandemic. Adjusted Unemployment Rate, based on 12-month moving averages – November 2021 Month/Year Total Black Hispanic White Nov-21 6.3%10.0%2.8%5.6% Oct-21 6.3%9.3%4.4%5.7% Nov-20 6.6%15.3%8.2%5.8% Minnesota and U.S. Employment and Unemployment – November 2021 12/17/21, 8:55 AM News / Minnesota Department of Employment and Economic Development https://mn.gov/deed/newscenter/press-releases/#/detail/appId/1/id/513196 3/4 Seasonally Adjusted Not Seasonally Adjusted Unemployment Rate Nov. 2021 Oct. 2021 Nov. 2021 Nov. 2020 Minnesota 3.3%3.5%2.2%4.3% U.S.4.2%4.6%3.9%6.4% Non-Farm Jobs Nov. 2021 Oct. 2021 Nov. '20- Nov. '21 Level Change Nov. '20- Nov.'21 % Change Minnesota 2,884,400 2,875,800 114,609 4.1% U.S.148,611,000 148,401,000 5,883,000 4.1% Minnesota and U.S. Over-the-Year (OTY) Employment Change, Not Seasonally Adjusted: November 2020-November 2021 Industry Supersector OTY Job Change OTY Growth Rate (%)U.S. OTY Growth Rate (%) Total 114,609 4.1 4.1 Private 115,950 4.9 4.6 Mining & Logging 21 0.3 8.2 Construcon 10,440 8.5 2.6 Manufacturing 15,106 4.9 3.0 Trade, Transport. & Ulies 11,489 2.2 3.0 Informaon -1,265 -3.1 5.2 Financial Acvies -3,353 -1.7 1.7 Prof. & Business Services 24,201 6.8 5.5 Ed. & Health Services 1,498 0.3 2.1 Leisure & Hospitality 52,424 27.2 14.3 Other Services 5,389 5.3 5.6 Government -1,341 -0.3 1.4 Metropolitan Stascal Area (MSA) Over-the-Year (OTY) Employment Change, Not Seasonally Adjusted: November 2020- November 2021 Metropolitan Stascal Area OTY Employment Change OTY Employment Change (%) Minneapolis-St. Paul MN-WI MSA 68,883 3.7 Duluth-Superior MN-WI MSA 3,189 2.5 Rochester MSA 4,415 3.7 St. Cloud MSA 2,975 2.8 Mankato MSA 1,554 2.8 Visit the DEED website to see DEED's alternave measures of unemployment. (hps://mn.gov/deed/data/current-econ-highlights/alternave-unemployment.jsp) You can also find monthly jobs numbers (hps://mn.gov/deed/data/data-tools/current-employment-stascs/) and unemployment data (hps://mn.gov/deed/data/data-tools/laus/) on DEED's website. You can see resources to help Minnesotans prepare for and find employment now at CareerForceMN.com/GoodJobsNow (hps://www.careerforcemn.com/GoodJobsNow). 12/17/21, 8:55 AM News / Minnesota Department of Employment and Economic Development https://mn.gov/deed/newscenter/press-releases/#/detail/appId/1/id/513196 4/4 Ã DEED is the state’s principal economic development agency, promong business recruitment, expansion and retenon, workforce development, internaonal trade and community development. For more details about the agency and its services, visit the DEED website (hps://mn.gov/deed/), the JoinUsMn.com (hps://joinusmn.com) website, or follow us on Twier (hps://twier.com/mndeed). Permalink: hp://mn.gov/deed/newscenter/press-releases/index.jsp?id=1045-513196 (hp://mn.gov/deed/newscenter/press- releases/index.jsp?id=1045-513196) View enre list Archives Categories Tags view as cloud RSS feed (/deed/rest/rss/Press Releases?id=1045-35332&detailPage=/deed/newscenter/press-releases/index.jsp) Rosemount RST Annual CDBG City Allocation for Rehab Loans Completed CDBG HOPE General Fund (CDA)MHFA Total Below 30%30-50%50-80% $ - 2 $ 13,014.96 $ 26,983.04 $ - $ - $ 39,998.00 0 0 2 Rosemount Residential Rehab RST Loans Completed CDBG City Allocation CDBG HOPE General Fund (CDA)MHFA Total Below 30%30-50%50-80% 2 $ - $ 40,645.00 $ 9,000.00 $ - $ - $ 49,645.00 0 2 0 Rosemount Residential Rehab RST Loans Completed CDBG City Allocation CDBG HOPE MHFA Total Below 30%30-50%50-80% 4 $ 49,770.00 $ 68,308.57 $ - $ 27,000.00 $ 95,308.57 2 1 1 Rosemount Residential Rehab RST Loans Completed CDBG City Allocation CDBG HOPE MHFA Total Below 30%30-50%50-80% 4 $ 9,739.00 $ 101,372.95 $ 2,013.25 $ - $ 103,386.20 1 1 2 Rosemount Residential Rehab RST Loans Completed CDBG City Allocation CDBG HOPE MHFA Total Below 30%30-50%50-80% 1 $ 55,588.00 $ 28,357.50 $ 5,672.50 $ - $ 34,030.00 0 0 1 Loans Completed 13 Total Expended 322,367.77$ CDBG Expended $ 251,698.98 City CDBG Allocated to Rehab $ 115,097.00 CDA or Other Funds Expended 70,668.79$ PY2016 Funding (City did not fund rehab program)Income PY2017 Funding (City did not fund rehab program)Income PY2018 Funding Income Rosemount Rehab Loans PY2019 Funding Income PY2020 Funding Income