CCP 05-27-2014 - Laserfiche WebLink

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MINUTES New Brighton Economic Development Commission Approved Regular Meeting — April 16, 2014 7:30 a.m. Members/Liaisons Present: Chair Paul Zisla, Commissioners, D.L. Beach, Monica Garcia - Perez, Al Potter, Mike Murlowski, Bruce Knight, Linda Zelm, Bob Benke and Councilmember Paul Jacobsen Members /Liaisons Absent: Commissioner Kevin Peck Staff Present: Grant Fernelius- Community Development Director, Katie Bruno - Office Assistant. Also Present: Jason Aarsveld, Ehlers & Associates Call to Order Chairperson Zisla called the meeting to order at 7:30 a.m. Approval of Minutes Motion by Commissioner Murlowski, seconded by Commissioner Zelm to approve the minutes from the February 19, 2014 meeting. Approved 8 -0 Report from Council Liaison Councilmember Paul Jacobsen provided the EDC with a report from the City Council on the events that have taken place in the first quarter. He indicated the New Brighton Exchange has been a major topic of discussion. He welcomed the new EDC members. New Brighton Exchange Cardiovascular Systems, Inc. (CSI) Corporate Headquarters Project Director Fernelius stated the City has been working with CSI for several months now. There has been some discussion at the Council level and it was recommended the EDC be brought in on the matter. He described the timing of this matter noting it was highly aggressive compared to most projects. He reported CSI wanted to have the building complete by March 2015. It was noted CSI would be doubling their employment base through the proposed corporate headquarters expansion. He discussed how CSI would like to place their building and parking on lots A and F. The economic impacts and debt service required for the project was described at length. In addition, staff explained how APi and Pulte would impact the value and land prices within the New Bright Exchange. He commented CSI has requested to purchase additional land for future expansion (Block E). Commissioner Zelm asked if the market value was based on 2014 valuations. Jason Aarsveld, Ehlers & Associates explained the numbers were based on historical values and comparisons. He reported the market for office space was depressed at this time. Commissioner Garcia -Perez questioned if CSI had considered using Block B for parking. Director Fernelius stated this would be an attractive site for a corporate campus and the City was hoping to preserve this site for a larger project. Further discussion ensued regarding the parcels CSI was proposing to use for their project.