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MINUTES New Brighton Economic Development Commission Approved Regular Meeting—April 17, 2012 7:30 a.m. Members/Liaisons Present: Paul Zisla, Vivian Neumann-Walker, Mike Murlowski, Al Potter, Marie Hansen, D.L. Beach, Bruce Knight and Councilmember Mary Burg Members/Liaisons Absent: Commissioner Linda Zelm Staff Present: Grant Fernelius-Community Development Director, Katie Bruno-Office Assistant. Guests Present: None Call to Order Chair Zisla called the meeting to order at 7:30 a.m. Approval of Minutes Motion by Commissioner Potter, seconded by Commissioner Hansen to approve the minutes from the February 21, 2012 meeting. Approved 7-0. Report from Council Liaison Councilmember Burg sated she is looking forward to serving as liaison, and reported that Council recently refinanced bonds; resulting in about $235,000 in interests savings. Councilmember Burg attended a League of Women Voters event at a New Brighton business. This business is the national repository for bone marrow. New Brighton Exchange Development Criteria Discussion Director Fernelius stated that at recent EDC meetings the Commission provided feedback to look at more than two development scenarios, including a third scenario focusing on the minimum level of development needed to cover debt service, and a fourth scenario assuming there is no development. Director Fernelius stated that he is planning to discuss development scenarios and provide a financial update to the Council on May 22, 2012. Director Fernelius reported it will be beneficial to have some development criteria in place when making decisions regarding future commercial proposals. In 2004-2005 the City developed a framework plan that helped guide the type of development that was desired in the Northwest Quadrant. The framework plan focused more on planning goals and guidelines. Chair Zisla asked for confirmation on the financial picture, as it seems the City currently is not at a desperate level. Commissioner Potter suggested continuing at with the guide plan we have, as the economy seems to be improving. Commissioner Murlowski suggested that the economy is still in a compromised situation, and the City should look at every interested party. Commissioner Neumann-Walker agreed, noting the economic outlook is still questionable. Commissioner Knight stated he sees the market as a buyer's market. Chair Zisla asked if the Commission sees a general development/framework plan as beneficial? Commissioner Beach asked if the broker has given any updates to the City? Director Fernelius reported there are a couple of prospects; including a current New Brighton business which has chosen to remain in their current location; another was a downtown office user looking to expand,but subsequently chose to remain in their location also.