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HomeMy WebLinkAbout08-22-19 CITY OF FARM 1 TON N AGENDA REGULAR ECONOMIC DEVELOPMENT AUTHORITY MEETING August 22, 2019 6:30 PM Room 170 Hannah Simmons, Chair; Steve Wilson, Vice-Chair Katie Bernhjelm, Ryan Butterfield, Jake Cordes, Robyn Craig Geraldine Jolley 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA 5. CITIZENS COMMENTS 6. CONSENT AGENDA (a) Approve Meeting Minutes (June 27, 2019, Regular Meeting) (b) Monthly Financial Statements 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS (a) Approve Downtown Facade Improvement Grant Program Application- Homestead Community Church (b) Business Retention and Expansion Strategy Update (c) TH3 Corridor Plan Implementation Update (d) Economic Development Activities/Events in Farmington (e) City Council Update 9. DIRECTOR'S REPORT (a) August Director's Report 10. ADJOURN CITY OF 430 Third St„ Farmington, MN 55024 FARM I GTO 65a_280_6800 FarmirgtonMN.gov TO: Economic Development Authority FROM: Cynthia Muller,Administrative Assistant SUBJECT: Approve Meeting Minutes (June 27, 2019, Regular Meeting) DATE: August 22, 2019 INTRODUCTION/DISCUSSION Please find attached the draft meeting minutes from the June 27, 2019, EDA meeting. ACTION REQUESTED Approve the June 27, 2019, EDA minutes. ATTACHMENTS: Type Description D Exhibit Minutes MINUTES ECONOMIC DEVELOPMENT AUTHORITY Regular Meeting June 27, 2019 1. CALL TO ORDER The meeting was called to order by Chair Simmons at 6:30 p.m. Members Present: Simmons, Bernhjelm, Cordes, Craig, Jolley Members Absent: Butterfield, Wilson Also Present: Adam Kienberger, Community Development Director; Steve Foster, Peerless Plastics 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA MOTION by Craig, second by Bernhjelm to approve the Agenda. APIF,MOTION CARRIED. 5. CITIZEN COMMENTS/PRESENTATIONS 6. CONSENT AGENDA MOTION by Bernhjelm, second by Cordes to approve the Consent Agenda as follows: a) Approved Meeting Minutes (May 23, 2019, Regular Meeting) b) Received Monthly Financial Statements APIF, MOTION CARRIED. 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS a) Downtown Facade Improvement Grant Program Application 510 Willow Street Mr. Steve Foster, Peerless Plastics has submitted a façade improvement grant application for his building at 510 Willow Street, Peerless Plastics. They plan to clean the exterior walls and remove mold and discoloration,paint and repair windows. The total project is estimated to be $19,060, including the grant request of$9,500. MOTION by Jolley, second by Bernhj elm to approve the downtown facade improvement grant application and contract for 510 Willow Street in an amount up to $9,500. APIF,MOTION CARRIED. b) EDA Website Materials Update Staff made updates to the economic development pages of the website according to comments at the previous meeting. EDA members reviewed websites of surrounding cities. They would like more images, more interaction, make the first page more outgoing—here is the why, a spot to highlight our research showing EDA Minutes(Regular) June 27,2019 Page 2 we have invested into what the needs are of the community, a more interactive online business listing directory,pulling together key things that may live in pieces on their own and identify where they could fit within our pages, a way to display ongoing projects or activities (such as ground breakings). 9. DIRECTOR'S REPORT a) March Director's Report Highway 3 Corridor Plan—The city council approved the plan on June 3 and staff is working with WSB on implementation steps. Development Update—Just for Kix has submitted a site plan for land in VRC. This will be on the July 9 Planning Commission meeting. As we are halfway through the year, Chair Simmons asked members to review the status of the strategic plan. It was suggested to do more economic development updates on social media. Staff is working on a coffee with the council and another member of a board or staff. For next month, Chair Simmons would like to define parameters for what the EDA sees as a small or large business and how many we have in Farmington. We would then have a framework for our capacity and who would be our top priorities from a business needs assessment. She would also like to have on the agenda what comes out of the TH3 implementation meeting. Member Craig recalled some of the things we wanted to do with TH3 were contingent on what Dakota County was doing and asked about the status. Staff noted with the follow-up meeting, the initial implementation will be laid out such as the intersection of Elm and TH3 wayfinding signage. Member Bernhjelm suggested having an EDA recap at a council meeting at the end of the year geared towards residents. Chair Simmons suggested receiving info from council members pertaining to economic development activities. That is something that could be added to EDA agendas. 10. ADJOURN MOTION by Bernhjelm, second by Cordes to adjourn at 7:41 p.m. APIF, MOTION CARRIED. Respectfully submitted, C�wth%Gi MvLLer Cynthia Muller Administrative Assistant CITUQF 1111101111111111111111111111111111111111111111111111111116 430 Third St., Farmington, MN 55024 FARMINGTON g 65,280-6800 Fa.rmingtonMN.gov TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Monthly Financial Statements DATE: August 22, 2019 INTRODUCTION/DISCUSSION Please find the monthly financial statements of the EDA attached. ACTION REQUESTED ATTACHMENTS: Type Description D Exhibit EDA-Actual Vs Budgeted Rev and Exp - August 2019 D Exhibit Financial Snapshot-August (O CO O .‘- O T 0 O O co r 0,.. O 1n O NM M M M'a0 (O N . a)r (O r 00 00 :. 0 coO M Cl) O c 0 co M < N 0 0 CI a O O? 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Q' w •S c E C a) LL Q W rY U W () () z W W 0` c c 0 c cu co ,c O w > a) 1 w m J Cn m Ct J 0 Ce m a X P i c �+ o f CL J H w z 0 0) 1- 2 < 0 o W a, w ` a) E y o y , M t N CO O 0 O 1O N 0 •E C c. c ) N 0 v V V V -a- CY V V V V 1C) a) O ,. co co •.' c c •g F- co 0 co co co CO (o CO CO CO CO U) H H 1•- O Department Actual vs Budget-Generic Time Period Business Object Account Cumulative 12 Cumulative 12 Actual Budget Unit Account Description 2019 2019 2000-HRA/ECONOMIC DEVELOPMENT 1010 CASH 261,132.84 2000-HRA/ECONOMIC DEVELOPMENT 1010 CASH-LGA ASSMNT RELIEF 35,000.00 2000-HRA/ECONOMIC DEVELOPMENT 3510 UNRESERVED FUND BALANCE -299,361.64 2000-HRA/ECONOMIC DEVELOPMENT 4955 INTEREST ON INVESTMENTS -3,910.70 -2,300.00 2000-HRA/ECONOMIC DEVELOPMENT 5205 OPERATING TRANSFERS -29,166.62 -50,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6401 PROFESSIONAL SERVICES 700.00 11,680.00 2000-HRA/ECONOMIC DEVELOPMENT 6403 LEGAL 719.40 4,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6404 IT SERVICES 4,851.56 8,317.00 2000-HRA/ECONOMIC DEVELOPMENT 6422 ELECTRIC 114.37 300.00 2000-HRA/ECONOMIC DEVELOPMENT 6426 INSURANCE 83.23 130.00 2000-HRA/ECONOMIC DEVELOPMENT 6450 OUTSIDE PRINTING 0.00 500.00 2000-HRA/ECONOMIC DEVELOPMENT 6460 MEMBER DUES&LICENSURE 1,720.00 2,500.00 2000-HRA/ECONOMIC DEVELOPMENT 6470 TRAINING&SUBSISTANCE 1,070.00 3,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6485 MILEAGE REIMBURSEMENT 265.06 1,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6492 ADVERTISING 0.00 3,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6570 PROGRAMMING EXPENSE 25,120.00 17,000.00 2000-HRA/ECONOMIC DEVELOPMENT 7310 OPERATING TRANSFERS 1,662.50 2,850.00 Total 2000-HRA/ECONOMIC DEVELOPM 0.00 1,977.00 0.00 1,977.00, 0.00 1,977.00 8/19/2019 8:39:31 AM Page 1 of 1 CITY OF 430 Third St., Farmington, MN 55024 FARMINCTON651-280-6800 FarmingtanMN.gov TO: Economic Development Authority FROM: Cynthia Muller,Administrative Assistant SUBJECT: Approve Downtown Facade Improvement Grant Program Application-Homestead Community Church DATE: August 22, 2019 INTRODUCTION/DISCUSSION As part of the Downtown Redevelopment Plan, business owners are encouraged to improve their buildings' front and back curb appeal through façade improvements. The EDA has approved the creation of a Downtown Façade Improvement Grant Program to fund matching grants of$1,500 up to $10,000 out of a pool of$20,000 annually. Attached is an application from Jeffrey Kerr of Homestead Community Church for his building located at 344 3rd Street. He is requesting a grant to assist with improvements being planned for the building. These proposed improvements include: • Repair and resurfacing of the Larson building exterior. • Repair existing window frames • Spot tuckpointing The total project cost is estimated to be$30,400 including the grant request of$10,000. ACTION REQUESTED Review and approve the attached Downtown Facade Improvement Grant application and contract for 344 3rd Street. ATTACHMENTS: Type Description D Backup Material Estimate D Contract Grant Agreement CITYOF ---------- Downtown Facade Improvement Program FA R M I N GTO N Grant Application APPLICANT INFORMATION NAME OF APPLICANT(S) pp CNYNYVIORt.UNnQ�� 0/1A-ije\ BUILDING OWNER r TENANT Ciopox lun CLua `J ADDRESS ADDRESS ,311`_t CITY,STATE,ZIP CITY,STATE,ZIP PAC,r\,,,4vn OK\ S 5O`z1 PHONE PHONE 651 -25 S -0 2,- 0 E � IL�� EMAIL �2 't S�oriv., CAwM WIv�I C t�!0pp j�BUSINESSINFORMATION LEGAL NAME OF BUSINESS �(`O�MQK 3 ' CDP( M,j CIL) ADDRESS \ �r M�A040 CITY,STATE,ZIP "T' t` � H N G562'4 BUSINESS PHONE FEDERAL TAX ID# 7~22�1 C41 9 DATE ESTABLISHED 9/5/2.0 OWNERSHIP INTEREST OF ALL PARTIES NAMED ON TITLE: NAMEka^na` CiDoor J n4-�., �.ac C. `z: INTEREST \�� NAME INTEREST NAME INTEREST 5 PROPERTY INFORMATION ESTIMATED DATE OF BUILDING CONSTRUCTION Ju\\ ove'rvti 20\ ` HAS THIS BUILDING BEEN HISTORICALLY REGISTERED? 5 PROJECT INFORMATION BRIEF DESCRIPTION OF PROPOSED PROJECT:r �`� � � 1 R vr--t �(}e Sti-'r-k-a G. 9 --__`` lar SCXI A Q' -t c r-'s h�.�n Is skfu C�1( Q 5110.w 1��a �.x N i `t- Ix.JQ i..v1� ICS V rTt W Wry ) ---ra_.vv A p 4 4-uc1c_Po w��rtq ESTIMATED PROJECT COSTS .) -1()-0 . SOS cA.0 EXTERIOR/FAcAD - ESTIMATED COS ELECTRICAL ESTIMATED COST 2O , L}OCA TOTAL ESTIMATED COS • • 6 FUNDING INFORMATION A 1:1 match is required by the applicant. For every dollar contributed to funding eligible project costs by the Downtown Façade Improvement Program,the applicant must contribute at least one dollar.The amount of grant to be awarded shall be$1,500 up to$10,000 according to the scale. TOTAL GRANT AMOUNT REQUESTED$I©,OCA ($1,500 up to$10,000 according to the scale) APPLICANT FUNDS $ a? I/We declare that the information provided on this application and the accompanying attachments is true and complete to the best of my/our knowledge. I/We understand that any intentional misstatements will be grounds for disqualification and that the city of Farmington/EDA has the right to verify this information. I/We agree to provide the project coordinator reasonable access to information and reasonable access to the construction project site so that they may monitor project implementation. APPLICANT(S) ` DATE e/,6 DATE DATE 7 MINNESOTA DATA PRACTICES ACT—TENNESSEN WARNING In accordance with the State of Minnesota Government Data Practices Act,the city of Farmington is required to inform you of your rights as they pertain to the confidential information collected from you. Confidential data is that information which is not available to you or the public. The personal information we collect about you is private. The information collected from you and from other agencies or individuals is used to determine the disposition of your application with the city. The dissemination and use of the data collected is limited to that necessary for the administration and management of the Downtown Façade Improvement Program. Persons or agencies with whom this information may be shared, include: 1. City of Farmington personnel administering the grant program 2. City Council members,Economic Development Authority members 3. Contracted private auditors 4. Law enforcement personnel 5. Those individuals or agencies to whom you give your express written permission NOTICE PURSUANT TO MS.60A955 8 ( .. ())20017 ‘ 2.,462,5._Aor cr)5-\--- "4111iv LANCER .4 54 Moreland Avenue E. West St.Paul,Minnesota 55118 Phone:(651)457-5993 fax:1651)457-7069 --- CONSTRUCTION lansper@LemgerConsiruction.corn LangerConstroction.com ' Since I 946 Date: 8/12119 Base Bid Scope Differences I Volunteer Deduct Totals Superintendent 30.000 0 30.000 Temporary Toilet Rental 1,200_ 0 1.200 GCurrent Cleanup 5,000 0 5.000 eneral Conditions Final Cleaning By Owner , By Owner 0 Testing 5 500 0 5,500 Dumpsters 4,000 0 4,000 General Conditions Subtotal 45,700 0 0 45.700 Asbestos Abatement Allowance By Owner By Owner By Owner Demolitlton Demolition 41,500 -30,000 11,500 Earthwork&Demolition Subtotal 41,500 -30,000 11,500 Concrete/Masonry 97,133 IS-114 ..% 0 97.133 Conct, m_ -m ,.....$1.1.1-o TuckPoiniril '92-''• 0 5,000 / 0 5,000 ::. 102.133 Concrete&Masonry Subtotal 97,133 . Misc.Metals 7,910 16,220 0 24,130 Misc.Metals Structural Steel Subtotal 7,910 16,220 0 24,130 Finish Carpentry 26,430 0 26,430 Rough Carpentry 24,000 -24.000 0 Caant Truss Repair 9,200 9,200 rpry Lumber 5,000 3 500 0 8,500 Millwork 22,854 0 22,854 C. ••.ry Subtotal 87,484 3,500 -24,000 86,984 ii 2,500 ---... 16.900 9,100 26,000 Waterproo ng - 5,200 10,200 Roofing 0 5,000 0 5,000 ....15/aterproofine-Subtglal ,.• 19.300 0 43,700 „ ••••••• • torefront "5 8 600 0 8,500 Doors&Windo n ows 0 0 0 0 loom!Frames/Hardware 31,000 14,800 0 45,800 Doors&ViAndows Subtotal 39.500 14.800 0 54,300 Painting 13,800 6.000 -12,500 6,400 Drywall 33,400 6.720 -24.000 16.120 Drywall Patch 5.000 -5,000 0 Tile 12,055 -8,000 6,055 Finishes Acoustical Ceilings 8.033 -1,868 0 6,965 Floor Prep 4.000 0 4 000 Carpet/Resilient Flooring 33,710 -24,360 0 9,350 Finishes Subtotal 110,898 -14,508 -47,500 48,890 Br.__Ill_Ling Exterior Signage 9,930 -2,5 , 0 7,100 Stage __By Owner By_Owner By Owner BY Owner Specialties Seating By Owner By Owner By Owner By Owner Elevator 25,000 0 25,000 Specialties Subtotal 34,930 -2,830 0 32,100 HVAC 10 000 0 10,000 g..phLIklef 31,671 0 31,671 flumbin•Allowance 20,000 5000 o 25,000 Mechanical Mechanical Subtotal 61,671 5,000 0 66,671 Electrical 75,000 -1,061 0 73,939 Fire Alarm 1_1416 3,416 0 16,832 Electrical AV Conduit Allowance 15,000 0 15,000 Electrical Subtotal 103,416 2355 0 105,771 l' ' 311IIIIMIIR','• '' •11111.EIMMEImmill11i33.imigatik, Building Perm& 13,091 977 14,068 Project Insurance 9.818 733 10,551 Permits&F.88 SAC/WAC Allowance By Owner By Owner By Owner Ay Owner - Utilities Fee By Owner By Owner By_pwner By Owner Langer Fee 54,196 4.044 58.240 Fees Subtotal 7 1 i • 5 - 82 858 •......., Contingency 10% 73,165 5 459 78,624 •i,r''',,-,- ,, $60,04' Rage 1 011 City of Farmington Downtown Facade Improvement Program Grant Agreement This agreement is made and entered into this 22nd day of August, 2019 by and between Jeffrey Kerr (applicant), Homestead Community Church (business name) at 344 3rd Street, Farmington, MN (address) (hereinafter referred to as "Grantee") and the City of Farmington Economic Development Authority (EDA), a public body corporate and politic, having its principal offices at 430 Third Street, Farmington, Minnesota(hereinafter referred to as "Grantor"). WHEREAS, the Grantor has established a Downtown Facade Improvement Program funded by the EDA to assist businesses in the downtown commercial district, as designated on the zoning map, with building facade improvements; and WHEREAS,the Grantee has applied for Downtown Facade Improvement Program funds for facade improvements at 344 3rd Street, Farmington, MN (address); and WHEREAS,the Grantor has reviewed the Grantee's application and determined that the proposed improvement project meets the requirements of the Downtown Facade Improvement Program. NOW THEREFORE, in consideration of the grant, the parties agree as follows: 1. The Grantor agrees to provide a maximum of$10,000 in EDA funds to the Grantee for facade improvements. 2. The Grantee agrees to use the proceeds of the grant solely for facade improvements with a minimum project cost of$30,400 and an estimated project cost of$30,400. 3. The project shall be completed in a timely manner and all grant funds must be used within six months from the date of the Grant Agreement. The agreement may be extended once, with the length of the extension to be determined on a case-by-case basis. 4. Grant funds will be paid on a reimbursement basis only after all improvements have been completed according to the authorized scope of work and have been accepted by the Grantor. 5. The Grant Agreement will be terminated 90 days from the date of the agreement if construction work has not yet begun. 6. The Grantee shall defend, indemnify, and hold harmless the officers and employees of the Grantor from all liability and claims for damages arising from bodily injury, death, property damage, sickness, disease, or loss and expense resulting from or alleged to result from Grantee's operations under this agreement. IN WITNESS WHEREOF, the parties hereto have hereby executed this agreement as of the year and date above. GRANTOR: GRANTEE: CITY OF FARMINGTON HOMESTEAD CO MUNITY CHURCH BY: ! 4_ BY: ITS: 4.DA ► ( ITS: Pa-)A-Dc: C\ vc Vv1 O CITY OF 430 Third St, Farmington, MN 55024 FARMINCTON 651_2$0_68o0 r�.'."- aFarmi gtonMN.gov TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Business Retention and Expansion Strategy Update DATE: August 22, 2019 INTRODUCTION/DISCUSSION At the April EDA meeting, we reviewed a number of items as part of a comprehensive Business Retention & Expansion(BR&E) strategy under the Strategic Plan action item calling for creation of a business needs assessment survey. Staff summarized existing efforts that occur related to BR&E so that the EDA could identify gaps in ways we work to understand the needs of the business community. That summary is attached. BR&E strategies are typically focused on two main components—data and relationships. The EDA's marketing plan(2013) speaks mostly to strategic relationships (professional memberships, networking groups, broker connections etc.)to organically compile information on local business needs. This knowledge typically resides with the economic development staff and is not easily transferable. Data can be obtained through several methods including regional surveys (macro trends), localized general business surveys, targeted business surveys, and face-to-face interviews. Each of these methods can have value in understanding the needs of the local business culture. The EDA provided direction at the June meeting to discuss parameters for categorizing Farmington businesses by size to help prioritize engagement for a needs assessment. The City currently maintains a list of top employers on its website: Farmington Public Schools—IS D#192 925 Federal Aviation Administration 498 Installed Building Solutions 230 Dakota Electric Association 200 Trinity Care Center and Trinity Terrace 181 Marschall Line Inc 175 Valmont Industries 154 City of Farmington 149 R & L Carriers 140 Kemps LLC 138 Additional information will be distributed at the meeting related to other business categories and how we might best understand their needs. ACTION REQUESTED Discuss additional action to be taken on this component of the EDA's 2019-2021 Strategic Plan for Economic Development. ATTACHMENTS: Type Description ❑ Exhibit BR&E Strategy Summary Farmington EDA Business Retention and Expansion Strategy Summary Category Activity Audience and Frequency Relationship Farmington Business Association(FBA)morning networking meetings Farmington businesses-Monthly Ribbon cuttings for new or expanding businesses Farmington businesses-5-10/year Dakota County Regional(DCR)Chamber of Commerce events(Good Day Dakota Dakota County-wide businesses-Monthly County,Legislative Updates etc.) Economic Development Association of Minnesota(EDAM)events Economic development professionals from across the state- Monthly Minnesota Commercial Association of Real Estate Association(MNCAR) Commercial property brokers-Weekly membership and event participation(MNCAR Expo) Miscellaneous business inquiries,start-ups,existing business questions etc. Farmington businesses-Weekly Partnership Dakota County Community Development Agency(CDA)-Open to Business, Dakota County Community Development Directors and CDA Broadband,CDBG programs staff-Bi-monthly MN Department of Employment and Economic Development(DEED)MN Public and private sector economic development Marketing Partners professionals from around the state including state officials- 3x per year Private sector economic development collaborations(Dakota Electric,Xcel Energy) Private sector economic development partners-As needed DCR Chamber of Commerce programs and collaborations(State of the City, Annually(SOTC)and monthly update meetings with DCR monthly update meetings,Chamber Directory) Chamber leadership GreaterMSP site selection responses GreaterMSP staff and national site selectors-As needed Data Dakota/Scott Workforce Development Board updates Monthly DEED employment data and industry trends Monthly GreaterMSP dashboard and on demand data requests As needed Informational EDAM Third Thursday programs and EDAM University educational series Monthly Minnesota Real Estate Journal(MREJ)educational development events Quarterly Business highlights and updates in the Farmington"Currents"newsletter Quarterly Local and regional news stories and updates Daily IIIMI. 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The adopted plan can be found here:http://www.ci.farmington.mn.us/government/departments/community_development Because of the large file size, several copies will be available at the meeting. ACTION REQUESTED CITY OF 430 Third St, Farmington, MN 55024 FARMINGTON 65a_28o-6800 FarmingtonMN.gov TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Economic Development Activities/Events in Farmington DATE: August 22, 2019 INTRODUCTION/DISCUSSION Chair Simmons has requested the EDA discuss ideas for unique economic development activities/events in Farmington. ACTION REQUESTED Council Updates EDA meeting 8/22/19 2020 Priorities: 1. Continue sound financial practices a. Bond rating increase in 2020(AA+) 2. Development for a successful future 3. Build on established partnerships 4. Delivery of high quality services 5. Completion of special projects a. Water tower refurbish b. New city logo Coffee with the Council: • August—Blue Nose(Robyn &Josh) • September—Pilot Knob Liquor Store (Katie&Todd) Budget: • No increase to the tax levy in 2020 • Debt will go down in 2020 • New position—Deputy Police Chief(starting in July) Major projects list: • Ice Arena o Phase one—Zamboni/Concession stand relocation o Phase two—Locker Room upgrades o Phase three—Second sheet of ice • Rambling River Center o Plaza • Downtown o Sidewalk Repair • Fire Department o Ladder Truck(2021) o Engine One (2026) • Jim Bell Park and Preserve • Liquor Stores o Relocate downtown Store o Build new Pilot Knob Store • Public Works o Fuel Station o Salt/sand storage facility • Pavement Management o Street and trail funding • Building Maintenance • General fund for vehicles CITY OF 430 Third St, Farmington, MN 55024 FARMINCTON 0 651_28a_68oa ■ _ FarmingtonMN.gay TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: City Council Update DATE: August 22, 2019 INTRODUCTION/DISCUSSION As discussed at the last EDA meeting, this will be a standing agenda item to allow City Council members the opportunity to provide the EDA with any updates they feel are pertinent to the work plan of the EDA. ACTION REQUESTED Receive an update on recent City Council actions or discussions. CITY OF 0 430 Third St, Farmington, MN 55024 FARMINGTON 651-2$0-6800 -� FarmingtonMN.gov TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: August Director's Report DATE: August 22, 2019 INTRODUCTION/DISCUSSION City/School Joint Meeting City Council held a joint meeting with the Farmington School Board on July 15th.A summary can be provided at our meeting. Development Update I presented my department's annual report and development update to the City Council and Farmington School Board at their joint meeting on July 15th.A copy of the presentation is attached. 2019-2021 Strategic Plan for Economic Development An updated status of items in the 2019-2021 Strategic Plan for Economic Development will be provided on a monthly basis. The plan and summary sheet are attached. EDA members should review the plan and provide input as part of a mid-year review. Miscellaneous Articles DEED June Employment Update Open To Business Q2 Report NEXT MEETING Our next regular meeting is September 26th at 6:30 p.m. ACTION REQUESTED None,this report is intended to be a monthly update on various development and industry related topics. ATTACHMENTS: Type Description Exhibit 2019-2021 Strategic Plan for Economic Development D Exhibit Strategic Plan Summary and Status Report D Exhibit DEED Employment Report-June D Exhibit Community Development 2018-2019 Development Update and Annual Report D Backup Material Open to Business Q2 Report Strategic Plan 2019 - 2021 Farmington Economic Development Authority . .. 4r'" '" i „tr'. ryr` % ^" ' � -�•--,1_,'.f . 'fr ',• ' ...N� _'fit" ! ''+ v. „A 4 January 2019 NORTHLAND PUBLIC FINANCE EDA Strategic Plan 2019-2021 CONTENTS Contents 1 Introduction 2 Context 3 EDA Powers 3 Comprehensive Plan 3 City Government 4 EDA Resources 5 Strategic Plan 6 Objective: Expand and Diversify the Tax Base 6 Objective: Encourage development that brings additional goods and services to Farmington 11 Objective: Promote the economic and physical health of older sections of Farmington....12 Objective: Effectively communicate information about the EDA within City government, to the community and to people and businesses outside of Farmington. 13 Objective: Conduct the business of the EDA to maximize its effectiveness 14 January 2019 EDA Strategic Plan 2019-2021 2 INTRODUCTION This document presents the Strategic Plan for the Economic Development Authority(EDA) of the City of Farmington.The EDA Strategic Plan serves several purposes: • The plan articulates the vision,mission and fundamental principles that guide decision making and actions for the EDA. • The plan provides a framework for identifying potential roles for the EDA,prioritizing use of resources and periodically reviewing actions taken by the EDA. • The plan serves as a tool for communicating information about the EDA to the city council,city departments and advisory boards,partner organizations in the economic development community and Farmington residents and businesses. The Strategic Plan focuses on the years 2019 through 2021. Vision Statement The Economic Development Authority's vision is to improve the economic vitality of the City of Farmington and to enhance the overall quality of life by attracting and retaining businesses, creating partnerships,fostering employment opportunities, promoting workforce housing, business growth, and expanding the tax base through development and redevelopment. me Mission Statement Farmington is commerce friendly, responsive, and innovative in the realm of economic development. The Economic Development Authority's mission is to position Farmington as one of Minnesota's most desirable cities to open, grow, and maintain a business. January 2019 EDA Strategic Plan 2019-2021 3 CONTEXT The actions of the EDA do not occur in a vacuum,but within the context of city government and development forces that affect Farmington and the region. Understanding this context is an important element of creating and implementing the strategic plan. EDA Powers The powers of the EDA come from both State Law and city enabling resolution.The EDA can exercise the powers set forth in Minnesota Statutes,Section 469.090 through 469.108 unless otherwise limited by the city council.The Farmington EDA was established by Resolution R104- 05(the "Enabling Resolution").The Enabling Resolution empowers the EDA to use all statutory authority with the following exceptions: • The sale of all bonds or other obligations issued by the EDA shall first be approved by the city council. • The EDA shall follow the budget process for city departments as may be provided by the city and as implemented by the city council and Administrator. • All official actions of the EDA shall be consistent with the city comprehensive plan and official controls implementing the comprehensive plan. The Enabling Resolution also transferred all activities,programs,operations and authority relating to economic development from the Farmington Housing and Redevelopment Authority (HRA).The EDA is authorized to exercise all of the powers granted to the HRA pursuant to Minnesota Statutes,Sections 469.001 through 469.047. No actions contemplated by the Strategic Plan are impaired by the limitations of State Law or the Enabling Resolution. Comprehensive Plan The Economic Development chapter of the 2040 Comprehensive Plan provides a framework of the activities of the EDA. "The Economic Development Plan (Chapter 9 of the Comprehensive Plan)provides a high level and long- term roadmap for the City of Farmington and its partners (public,private, and nonprofit sectors) to work together to enhance employment, investment and quality of life opportunities that benefit the entire community. The city recognizes that local government has a responsibility for creating an environment in which economic development can occur. This plan also serves to examine and strengthen the city's ability to compete effectively and prosper in both the regional and increasingly global economy." The Comprehensive Plan contains eight(8)economic development goals.As part of the process of creating this Strategic Plan,the EDA validated the importance of these goals for guiding the actions of the EDA.The following list contains the economic development goals in order of the ranking of the EDA Board: January 2019 EDA Strategic Plan 2019-2021 4 1. A three-year Strategic Plan for Economic Development that provides a dynamic and actionable tool for achieving the community's economic development vision. 2. Cultivation of strong relationships between existing businesses and the city to increase business retention. 3. A desirable commercial environment for residents is created through growth from existing and new businesses. 4. Healthy and diversified growth of existing and new businesses to achieve the community's 2030 and 2040 employment projections. 5. Redevelopment of vacant and underutilized properties in older areas to revitalize these vital community areas. 6. Public and private sector reinvestment in downtown to revitalize it as the community's commercial,cultural,and recreational center. 7. Diverse housing options and quality of life amenities that support the needs and preferences of the community's workforce into the future. 8. A well-trained and adaptable workforce is maintained within the community to support the projected business and job growth. These goals provide a useful tool for evaluating EDA activities.How does the activity help to achieve the goals of the Comprehensive Plan?A consistent connection between these goals and EDA activities ensures that the EDA meets its mandate of consistency with the Comprehensive Plan. City Government An essential factor shaping the Strategic Plan is the EDA's fit within the overall structure of the city. The EDA is one of five advisory boards and commissions established by the city council. The EDA is different from any other board in that it has the power and resources to undertake projects in a relatively autonomous manner.State Law designates EDAs as political subdivisions. Farmington Community Community City City Council Development Administrator Director Residents Business 1 1 Economic wwMswwrwww 1100, Development Authority(EDA) The EDA is governed by a 7-member board of commissioners appointed by the city council. Members of the EDA board consist of two city council members,one Independent School District 192 school board member,and four residents. Economic development staff is part of the January 2019 EDA Strategic Plan 2019-2021 5 city's Community Development Department.The Community Development Director serves as the Executive Director of the EDA. This structure combines the dedicated focus on economic development and statutory powers of the EDA with a day-to-day foundation in the core structure of the city. EDA Resources Creating and implementing the Strategic Plan must be done with an eye towards the resources of the EDA.With limited resources,the effective use of resources should be a factor in evaluating current and future activities. Do the potential benefits of the action merit the allocations of EDA resources? The most important resource of the EDA is city staff.The experience and technical skills of economic and community development staff provide the capacity to successfully achieve EDA objectives. The staff resource available to the EDA is a finite commodity. It is also a commodity that serves other functions within city government. January 2019 EDA Strategic Plan 2019-2021 6 STRATEGIC PLAN The EDA Strategic Plan is based on the following Core Strategies: • Attract new businesses that provide jobs,needed goods and services,and tax base • Encourage the retention and expansion of existing business • Encourage revitalization and redevelopment • Manage EDA programs and projects • Be the voice of economic development in city government The Core Strategies guide EDA actions. All actions shall be consistent with one or more of the Strategies. Objective: Expand and Diversify the Tax Base Economic development is not an end itself,but rather a means to achieve certain outcomes.An important outcome in Farmington is to grow the property tax base. Preliminary tax rates for taxes payable 2019 show Farmington with the fifth highest city tax rate for Dakota County cities (over 1,000 population).When all other taxing jurisdictions are included,the total tax rate in Farmington is the highest in Dakota County. Preliminary 2019 Tax Rates 160.00 140.00 120.00 " 1.1111.114 a. 100.00 m x 80.00 Air ; 60.00 40.00 �a 20.00 11 1 1 1 I I 111 1111111111 ��Qac\ QaJ\ �` ea'r 4c �4\ e\�r�h ��\ �e5 co��r C�c°, <<ac � (2--°e PQQe ■City Rate E All Others Rate Figure 1 Tax base is a key factor in a higher tax rate.A lower tax base means that the city must tax at a higher rate to generate revenue needed to operate the city.A comparison with other Dakota County cities provides some perspective on Farmington's tax base. Figure 2 shows total Pay January 2019 EDA Strategic Plan 2019-2021 7 2019 Taxable Market Value by property classification. Figure 3 compares the distribution of Taxable Market Value among the property classifications. Taxable Market Value Taxes Payable 2019 8,000,000,000 7,000,000,000 6,000,000,000 ■All Other 5,000,000,000 •Agriculture 4,000,000,000 Industrial 3,000,000,000 •Commercial 2,000,000,000 Oral ■Apartments 1,000,000,000 •Residential Farmington Lakeville Rosemount Hastings Apple Valley Figure 2 Taxable Market Value Taxes Payable 2019 100% a 70% 1111 U U 70/° All Other 60% ■ ■ ■ ■ ■Agriculture 50% ■ ■ ■ ■ Industrial 40% ■ ■ ■ ■ ■Commercial 30% 1111 ■ ■ ■Apartments 20% ■ ■ 1111 • Residential 10% 1111 1111 ■ 0% Farmington Lakeville Rosemount Hastings Apple Valley Figure 3 January 2019 EDA Strategic Plan 2019-2021 8 • Hastings has less Taxable Value than Farmington($1.52 billion to$1.74 billion). However,the portion of the total tax base in commercial and industrial property is more than double in Hastings(11%)in comparison to Farmington(5%). • The commercial/industrial share of the tax base in the comparison cities ranges from 9.66% in Apple Valley to 11.24% in Rosemount. • Rosemount provides a good contrast to Farmington.The cities have similar populations (Farmington 22,421 -Rosemount 23,956),but Farmington has 29% less tax base.Total Taxable Market Value per capita in Farmington is$87,866 and$116,100 in Rosemount. Growing and diversifying the tax base has a variety of benefits.A growing tax base gives the city more flexibility in funding services and capital improvements.This flexibility would likely extend to the EDA budget.The demands for operating revenues may limit the ability to lower the tax rate,but a growing tax base lessens the need to raise rates. Growing the tax base is one of the only means available to the city to promote reductions in other parts of the total tax rate. A diversified tax base changes the impacts of economic downturns as value changes vary among property types.Commercial and industrial development make different use of city services than residential with the potential for comparably less pressure to increase services and spending. EDA efforts to grow the tax base must be done thoughtfully and strategically.The Minnesota property tax system affects the ability of the city to realize growth in the tax base from new development.40% of all new commercial-industrial value goes into the Fiscal Disparities Pool and is not available for local taxation.The use of tax increment financing(TIF) or tax abatement defers the benefits of new tax base until the financial assistance ends.Property class rates set by the Legislature convert the Assessor's Estimated Market Value to Tax Capacity (taxable)value at different rates. Figure 4 illustrates these points.This chart compares the Tax Capacity value available to the city (and other taxing jurisdictions) from alternative development of 100 acres. January 2019 EDA Strategic Plan 2019-2021 9 Tax Capacity From Alternative Land Uses Industrial Retail Single Townhome Acres 100 100 100 100 Lot Coverage/Density 30% 30% 3 6 Development(SF or Units) 1,306,800 1,306,800 300 600 EMV per SF or Unit 65 125 330,000 330,000 EMV 84,942,000 163,350,000 99,000,000 198,000,000 Tax Capacity 1,698,090 3,266,250 990,000 1,980,000 Fiscal Disparities 40% 40% 0% 0% Net Local Tax Capacity 1,018,854 1,959,750 990,000 1,980,000 2,500,000 2,000,000 a, m 1,500,000 f0 f0 1,000,000 I- 500,000 0 Industrial Retail Single Townhome Figure 4 Expansion of the tax base also comes from within.The Economic Development chapter of the Comprehensive Plan notes that"research from numerous sources shows that existing businesses create 60%-90% of all new economic growth in a community". A focus on local businesses is a more efficient means of expanding the tax base. Resources applied to business expansion are more likely to yield returns than using the same resources to compete with other cities. Resources are applied to businesses already in Farmington rather than competing with January 2019 EDA Strategic Plan 2019-2021 10 other cities.The use of financial incentives (if needed)is typically lower and more closely aligned with project need. Tactics 1. Create and maintain strong relationships and lines of communication with local business to identify opportunities for the EDA to enhance success and encourage expansion. 2. Be prepared to receive and effectively respond to inquiries about locating businesses in Farmington. 3. Make use of tax increment financing and tax abatement,pursuant to city policies,to achieve the objectives of the Strategic Plan. 4. Use tax increment financing and tax abatement only when the benefits received from the development outweigh the deferred tax base. 2019 Action Plan 1. Create and conduct a comprehensive business needs/assessment survey. 2. Review and update(as needed)economic development promotional materials. January 2019 EDA Strategic Plan 2019-2021 1.1 Objective: Encourage development that brings additional goods and services to Farmington Building and maintaining a strong core of commercial development is important to Farmington. When necessary goods and services are not available locally,residents travel to other cities to shop.These trips often result in additional shopping that could have occurred in Farmington. The EDA seeks to encourage commercial development that reduces this out-migration and complements existing businesses. The EDA has limited control over the type and pace of commercial development. Market forces tend to be the primary force in commercial growth. In that regard,commercial development and job growth are directly related.New,well-paying jobs located in Farmington may produce the demand for new housing.These new"rooftops" create the market sought by commercial development. The EDA can facilitate commercial development by providing desirable business districts. Farmington has a history of creating community plans for such business districts.Plans for Vermillion River Crossing and Downtown Farmington provide the framework for public and private investment. In 2019,the city will be completing a plan for development in the Highway 3 Corridor.The ongoing implementation of these plans is an important EDA objective. Tactics 1. Attract new businesses that produce jobs that are likely to create or retain households and expand the local market for new commercial development. 2. Prepare and implement plans that provide desirable locations for new commercial development. 2019 Action Plan 1. Continue to work with brokers and land owners to attract developments to Vermillion River Crossings area. 2. Create ongoing means of communicating actions related to the implementation of the Downtown Redevelopment Plan to the EDA. 3. Play an active role in the completion of the Highway 3 Corridor Study and seek effective implementation strategies. January 2019 EDA Strategic Plan 2019-2021 12 Objective: Promote the economic and physical health of older sections of Farmington. One of the Economic Development Goals of the Comprehensive Plan is"redevelopment of vacant and underutilized properties in older areas to revitalize these vital community areas". In reality,there are two aspects to redevelopment.The most effective strategy is to promote the economic and physical health of the community to avoid the need for redevelopment.If the need for redevelopment exists,however,it is important to prevent blighting conditions to spread to other properties. The EDA has taken a proactive approach to redevelopment by creating plans for the Downtown and the Highway 3 Corridor.These plans provide a framework for public and private investment.Implementation of these plans is not the sole responsibility of the EDA.The EDA must coordinate its efforts with the city council,planning commission and other stakeholders. Tactics 1. Engage on a consistent basis with the planning commission to share goals and develop strategies. 2. Support the outcomes and implementation of the Highway 3 Corridor Plan. 3. Review and promote existing programs that target key areas. 2019 Action Plan 1. Schedule quarterly joint work sessions with the planning commission and semi-annual work sessions with the city council to align priorities. 2. Complete and identify initial implementation steps of the Highway 3 Corridor Plan. 3. Meet with Dakota County CDA staff(or invite to EDA meeting) to discuss programs. January 2019 EDA Strategic Plan 2019-2021 13 Objective: Effectively communicate information about the EDA within city government, to the community and to people and businesses outside of Farmington. Communication is an essential function of the EDA. Communication with the city council promotes collaboration on shared objectives and builds the foundation for the financial resources required by the EDA. Communication with the community explains the work of the EDA,highlights the positive impact on the community and offsets potential misinformation. Communication informs the business community,both within and outside of the community, about the opportunities to do business in Farmington and the assistance available from the EDA. The city's website is the most important communication tool for the EDA.The website is the place people look for information about the EDA.Farmington's online presence for economic development should be guided by several factors: • Information about the EDA and economic development in Farmington must be easy to find on the website. • The information on the website must be useful. • The form and content of the pages devoted to economic development should convey a positive message that creates interest in Farmington. Tactics 1. Utilize the city's website as the primary point of information about the EDA and economic development in Farmington. 2. Ensure that the website contains useful information for businesses evaluating potential development in Farmington. 3. Make use of the newsletter and other ongoing city communications to provide information about the EDA. 2019 Action Plan 1. Review other websites to identify elements that could be incorporated into Farmington's website. 2. Review and enhance the city's webpage(s)related to Economic Development. 3. Develop one or more new communications tools to relay the messages and work of the EDA. 4. Shift the monthly "Director's Report" in the EDA packet to a more public-facing newsletter. 5. Develop a social media strategy to promote the work of the EDA. January 2019 EDA Strategic Plan 2019-2021 14 Objective: Conduct the business of the EDA to maximize its effectiveness. While this objective seems obvious,it is important to make it a stated objective of the Strategic Plan.The EDA operates with limited resources in terms of funding,staff time and board responsibilities.All decision-making must consider the effective use of these limited resources. Tactics 1. Provide consistent information to the EDA about its financial condition and existing obligations. 2. Provide the EDA with consistent updates on the status of the action plans for the Strategic Plan and other ongoing initiatives of the EDA. 3. Annually update the action plans in the Strategic Plan. 2019 Action Plan 1. Provide annual comprehensive review of the EDA's finances in March. 2. Develop a standardized template for providing specific project updates. 3. Explore ways to enhance the effectiveness of monthly board meetings. 4. Create a process to annually review and update action plans in the Strategic Plan. January 2019 t 0 0 v U, 4L +-, I.• ) v m < 0 c S' 3 m c H E > > 3 ' 2 ° u o 3 3 c c_ a' c_ a 0s o o m '3 u m o 3 .vn u w a 2 o E _c v v o u o w > t, Q '3 m E �' > 3 E . S w .1 c w w v ooc H c E m t aE r 0 yr 3 W 0 E 3 c m m v o N m E5 ` i v 0 0c ' j0 >, _ > n°0 V°0 0°0 u 0 - . , O°0 00 Q C°0 0 N 3 0 = 'a o m a = V1 2 Q cc O O O s Q ¢2 m O m 0 = > ar c = Q 2 31 O H m o a vmvs}, o v 0 cM aam av sYE t. m C v vv >'h ° a yw 0H ua E Ea a m a 3w o am o '" v m ° a LLI 1.5 c -0 3 m A a v c a o .� H v v -o �^ a . 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F V a v co a O w Q s av wv c > > >¢ oc o " = cc a w a 2 ._ a o a` .n v c c Q S « C x o 3 N s "o a Q ,sv, w v wQ co v °3 « .-5- [..0EoE ° °a m m 'cS =a o 0 ? Adam Kienberger From: DEED Communications <MNDEED@public.govdelivery.com> Sent: Thursday,July 18,2019 10:03 AM To: Adam Kienberger Subject: Minnesota Adds 3,300 Jobs in June x I For Immediate Release Contact: July 18,2019 Shane Delaney Previous Announcements 651-259-7236 shane.m.delanev@state.mn.us Steve Hine 651-259-7396 Steve.Hine@state.mn.us Minnesota Adds 3,300 Jobs in June -Labor force participation rate increases to 70%"' ST. PAUL—Minnesota gained 3,300 jobs in June and the state's unemployment rate held at 3.3%according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).The U.S. unemployment rate was 3.7%. 1 May's previously announced gain of 100 jobs was revised upward to 2,000 jobs.The state has now gained jobs in four consecutive months for the first time since February 2018.Annual employment growth rebounded to 20,992 for a 0.7%gain. Minnesota's labor force participate rate also inched up a tenth point to an even 70%. "These 3,300 jobs added in June, together with an increase in the labor force participation rate, are both encouraging signs," said DEED Commissioner Steve Grove. "But Minnesota employers are still having a hard time finding workers. Our workforce development teams at DEED are working to connect these employers to job seekers to fill some of the most in-demand jobs currently out there." One such effort at DEED to fill in-demand jobs is work done by the Minnesota Job Skills Partnership (MJSP). Under the partnership, educational institutions and businesses work together to secure MJSP funding. Businesses initially meet with an accredited educational institution to explain their training needs and to learn about options. Once they agree on a plan,the educational institution contacts DEED to determine eligibility for a grant. The MJSP awarded $3.4 million to 26 projects in June.The funding will train more than 3,900 workers across Minnesota. A list of funded projects is available online. Seven major industry sectors gained jobs in June. Education and healthcare and other services were both up 1,500 jobs. Other areas experiencing growth were manufacturing (up 1,400), financial activities (up 400), leisure and hospitality (up 400), government(up 200) and logging and mining (up 100). Areas experiencing loss were professional and business services (down 1,500),trade, transportation and utilities (down 300), construction (down 200) and information (down 200). All five of the Metropolitan Statistical Areas (MSAs) experienced over-the-year growth in June. Rochester MSA had the highest growth with 1.4%followed by St. Cloud MSA with 1.3%and Mankato with 1.2%. Minneapolis-St. Paul MSA had just 0.4%growth and Duluth-Superior MSA had 0.1%growth. 2 Visit the DEED website to see DEED's alternative measures of unemployment. Seasonally Adjusted Not Seasonally Adjusted Unemployment June 2019 May 2019 June 2019 June 2018 Rate Minnesota 3.3 3.3 3.4 2.9 U.S. 3.7 3.6 3.8 4.2 June'18'19 level June'18'19 Employment June 2019 May 2019 of Change level of Change Minnesota 2,963,700 2,960,400 20,992 0.7 U.S. 151,308,000 151,084,000 2,267,000 1.5 MN OTY Job MN OTY Growth US OTY Growth Change Rate Rate Total nonfarm 20,992 0.7 1.5 Total Private 20,572 0.8 1.6 Logging and Mining 145 2.1 2.1 Construction 7,047 5.3 3.4 Manufacturing 818 0.3 1.1 3 Trade,Transport. -3,416 -0.6 0.1 and Utilities Information -2,183 -4.4 1.0 Financial Activities 195 0.1 0.8 Prof. and Business Services 2,595 0.7 2.2 Ed. and Health Services 3,094 0.6 2.7 Leisure and Hospitality 12,103 4.2 2.1 Other Services 174 0.2 0.9 Government 420 0.1 1.0 Metropolitan Statistical OTY Employment Change OTY Employment Change Area (#, NSA) (%, NSA) Minneapolis-St. Paul MN- 9,078 0.4 WI MSA Duluth-Superior MN-WI 165 0.1 MSA Rochester MSA 1,682 1.4 St. Cloud MSA 1,475 1.3 Mankato MSA 708 1.2 A short video to coincide with the release of the unemployment numbers can be viewed on the DEED's YouTube Page. 4 An interview with audio and video versions for press is also available. DEED is the states principal economic development agency, promoting business recruitment, expansion and retention,workforce development, international trade and community development. For more details about the agency and its services visit the DEED website or follow DEED on Twitter. -30- Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161. Questions?Contact Us 5 1 O W C C Q PCS4-0 p eti � o Lr C C I CC 0 < 1 a C 0 C E E O V I Z 0 Z co_TD cx Q c co tin m cn C Ca c6 c L E 0 E L O c 0 (1.) O) o .> o D -� O O0 >0 O ›N '2 ITU t5 E 0 .u) 2 -0 a) c. 0 .— a U a)O O _ CD .- E c E0) c 0 N O) "0 CU E Oc La N N 0 0 C O p :— C CO - TD O CL W m O = U U . . • • • • I — -0 Z O O7 o Z � F _ O N •� Q N LL 0 O) O L (f) (1) L `o N oo rn 0 0 0 0-� 0-, -� r — 'E N N N N N OL ■ •■ O O -�-• -� N Q. 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N p coca'.E 5 , a_ O c N D O O Ew u• i O N • • 7ci 4gt0 a) C C 4-• 0 I— -C) (45 .11-P am. a) Tu a) OPEN TO BUSINESS Updates DAKOTA COUNTY Open To Business Laurie Crow—Business Advisor 1/1/2019—6/30/2019 Clients Served 63 Business Stage: Industry Segment: Pre Start Planning 25 Retail 11 Start Up 10 Service 29 Existing Business, Opportunity 20 Food 12 Existing Business, Challenged 8 Health/Fitness 6 Manufacturing 0 Program Hours: Construction/Real Estate 4 (Includes Direct Client Hours,Program Outreach& Technology 1 Marketing,Public Events/City Meetings,Data Collection and Administration) Professional/Consulting 0 Total Contract Client City: Residence Business 1St QTR 431.75 Apple Valley 10 8 2nd QTR 504.25 Burnsville 9 11 Eagan 8 8 Financing: Farmington 9 7 Loans Approved Hastings 4 5 Number 1 Inver Grove Heights 5 7 Amount $ 350,000 Lakeville 9 9 Mendota Heights 2 1 Leveraged $ 1,265,000 Rosemount 1 1 (Bank/Owner Equity/Other Outside Financing) S. St. Paul 2 2 W. St. Paul 4 5 Referral Source: Municipality 39 Other Entrepreneur 1 Bank Referral 3 Friends/Family 4 Other 12 Web 4 BUILDING OPPORTUNITY MCCD ° YEARS Metropolitan Consortium of Community Developers