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MINUTES New Brighton Economic Development Commission Regular Meeting — January 6, 2009 0 7:00 a.m. Members/Liaisons Present: Bob Benke, Mary Burg, Dennis Flahave, Steve Larson, Cynthia Lesher, Mark Nelson, Tim Roche, and Jim Sculthorp. Members/Liaisons Absent: Linda Harmon. Staff Present: Grant Fernelius, Community Development Director; David Black, Assistant Community Development Director; and Jennifer Lavandowska, Office Support. Call to Order Nelson called the meeting to order at 7:00 a.m. Approval of Minutes The minutes of the December 2, 2008 meeting were presented for approval. All approved. Council Report Burg reported that the Council approved the 2009 budget at its December 9th meeting, and that APi Group held a grand opening of their new building. is Northwest Quadrant Report Black stated that a draft of the market study has been completed by Colliers International. Staff is currently reviewing the draft and will discuss the findings with the Council. It is hoped that a a joint meeting involving the City Council and all the commissions can be held in early February. Lesher asked whether the study indicated if the development would take longer to complete. Black replied the study suggested that it may take five to ten years to complete versus the projected three to five years that had been assumed. West Side Belair has completed its work on the cleanup of the west side, with some additional work to be completed this spring on the Ferrellgas and railroad sites. Fill will be brought in to bring the land to street level; once this is done the west side will be ready for development. The full amount of the state grant has been received, but the Metropolitan Council reimbursement requests have been more difficult, in part since they will not cover any administrative or overhead costs. F.nst Side Fernelius reported that over the weekend a conference call was held with MT Properties which finalized the purchase agreement; it will be considered by Council at their next meeting. Sculthorp inquired if the wye would be constructed. Fernelius replied that the team track was completed this past summer and is currently in operation. The wye funding is in place, but . Minnesota Commercial is concerned about possible tax implications of constructing the wye. They are currently working with state legislators to see whether an adjustment could be made. If it is approved the wye could be constructed this summer. Benke suggested that this is just one of many issues that illustrate how complex this project is, and he thanked staff for their hard work.