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MINUTES New Brighton Economic Development Commission Approved Regular Meeting—March 15,2011 7:30 a.m. Members/Liaisons Present: Gina Bauman,Bob Benke,Bob Smith,Mike Murlowski, Terri Snell Marie Hansen,Dennis Flahave,D.L.Beach Members/Liaisons Absent: Ruben Vazquez,Mark Nelson Staff Present: Grant Fernelius-Community Development Director;Katie Bruno-Office Assistant. Call to Order Commissioner Benke called the meeting to order. Approval of Minutes Minutes from the February 15,2011 meeting were approved. Northwest Quadrant Report Director Fernelius introduced Arne Cook, stating he will act as an advisor to the City. The primary focus of this meeting is to review the responses to the Request for Qualifications (RFQ) for brokerage and developer services. Staff and Arne Cook began working on a strategy to market the remaining office sites in the Northwest Quadrant. The desired approach for the Northwest Quadrant is to use the services of both a developer and a land/office broker. In doing so, the City can cast a"wider net" in the marketplace and maximize exposure of the site. Under this arrangement, the City would enter into a listing agreement with the land broker to market the site. The City's goal from the onset has been to expose the marketing of the site to all potential buyers through a"non-exclusive" development arrangement. Arne Cook reported four proposals were received,two brokers and two developers. Some of the major Developers in the metro area did not submit proposals for various reasons. Commissioner Benke questioned the financial status of The Opus Group. Mr. Cook reported they did go through a difficult financial time, and have recovered. Fernelius noted he has spoke with Dave Menke, with Ryan Companies, who also commented that Opus has done some restructuring, and ready to move forward. Request for Qualifications(RFQ) The RFQ solicitation process began in December and January with a group of brokers and developers. Arne Cook initially contacted and met with eight firms; of which four responded. Director Fernelius reported each of these firms is capable of doing the work and has a strong reputation in the Twin Cities real estate market. In fact, each firm spoke favorably about one another citing the very collaborative nature of the local brokerage/developer market. Commissioner Murlowski questioned the reason to lock in with a particular developer, couldn't that scare others away? Director Fernelius responded noting that the City would gain a much broader exposure. Mr. Cook added developers are able to understand the site, and respond very quickly to the market.Also noted was the developer can assist with marketing efforts as well. Commissioner Benke asked if the hybrid model is unique. Mr. Cook responded the private sector would utilize the hybrid approach,however he in unsure about other cities practices. Mr. Cook stated the goal is to form a team to limit possible disadvantages. There are two land/office broker proposals (Northmarq and NAI Welsh) and two developer proposals (Opus Group and Ryan Companies). Each firm was asked to respond to a list of questions. After the proposals were reviewed,face-to-face meetings were held to introduce the key players,clarify questions, and assess organizational"fit".