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<br />MINUTES <br />New Brighton Economic Development Commission <br />Regular Meeting – September 2, 2015 <br />7:30 a.m. <br /> <br />Members/Liaisons Present: Chair Paul Zisla; Commissioners, D.L. Beach, Monica Garcia-Perez, <br />Kevin Peck, Al Potter, Mike Murlowski, Bruce Knight, Bob Benke and Councilmember Gina Bauman <br /> <br />Members/Liaisons Absent: <br /> <br />Staff Present: Janice Gundlach-Assistant Director of Community Assets & Development/Planning <br />Director, Craig Schlichting-Director of Community Assets & Development, Casey Hankinson-Ryan <br />Companies, Dan Mueller-Ryan Companies, Ted Gonsior-Colliers, Louis Suarez-Colliers, Dan Fetter- <br />Barr Engineering <br />Also Present: <br />Call to Order <br />Chairperson Zisla called the meeting to order at 7:30 a.m. <br /> <br />Approval of Minutes <br />Motion by Commissioner Beach, seconded by Commissioner Potter to approve the minutes from the <br />August 19, 2015 meeting. <br /> <br />Approved 8-0 <br /> <br />Report from Council Liaison <br />Councilmember Gina Bauman stated the Council held a worksession meeting recently where the 2016 <br />budget was discussed. She commented that the proposed increases were a concern to her and the <br />Council would continue to discuss the budget over the coming weeks. <br /> <br />Presentation and Discussion – Blocks B & D in New Brighton Exchange <br /> <br />Marketing Report <br />Louis Suarez, Colliers, provided the EDC with a presentation on market trends while also discussing <br />Blocks B & D of the New Brighton Exchange. In addition, an update was provided on CSI and APi. It <br />was reported that the strongest office markets have been downtown or along the 394/494 corridor. The <br />St. Paul Suburban trends were then reviewed, along with the different classes of office buildings. <br /> <br />Chair Zisla questioned what a healthy vacancy rate was for office space within a City. Mr. Suarez <br />estimated this to be around 10% for a city. <br /> <br />Ted Gonsior, Colliers, discussed the importance of the 35W corridor for the New Brighton Exchange. <br />He reviewed the neighboring communities that were in direct competition with New Brighton. He then <br />commented on the positive points within New Brighton Exchange versus the City’s direct competition. <br />It reiterated that the landfill component would have to be considered by future developers. <br /> <br />Casey Hankinson, Ryan Companies, discussed office vacancy rates further and recommended that this <br />rate be closer to 8%. He then provided comment on the new office space that would be available in the <br />metro area. It was his opinion that the office market was healing in the metro area. <br /> <br /> <br />Not Approved