HomeMy WebLinkAbout10.20.25 EDA Packet
Meeting Location:
Farmington City Hall, Conf Room 170
430 Third Street
Farmington, MN 55024
ECONOMIC DEVELOPMENT AUTHORITY REGULAR MEETING AGENDA
Monday, October 20, 2025
5:00 PM
Page
1. CALL TO ORDER
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
4. APPROVE AGENDA
5. CITIZEN COMMENTS
6. CONSENT AGENDA
6.1. Monthly Financial Report
Accept the Monthly Financial Report.
Agenda Item: Monthly Financial Report - Pdf
3 - 4
6.2. Quarterly Report - Open to Business (Q3 2025)
No action requested. Report is provided for informational purposes.
Agenda Item: Quarterly Report - Open to Business (Q3 2025) - Pdf
5 - 15
7. PUBLIC HEARINGS
8. DISCUSSION ITEMS
8.1. Entreprenurial Ecosystem Discussion
No action. This is a discussion that will frame ways in which the EDA
can move forward to support and grow the local entrepreneurial
ecosystem.
Agenda Item: Entreprenurial Ecosystem Discussion - Pdf
16 - 17
9. DIRECTOR'S REPORT
Page 1 of 33
9.1. Director's Report
No action requested. This item is informational and is provided to
communicate how the EDA time and money resources are allocated and
to track and measure the impact of initiatives.
Agenda Item: Director's Report - Pdf
18 - 33
10. ADJOURN
Page 2 of 33
ECONOMIC DEVELOPMENT AUTHORITY AGENDA MEMO
To: Economic Development Authority
From: Deanna Kuennen, Community & Economic Development Director
Department: EDA
Subject: Monthly Financial Report
Meeting: Economic Development Authority - Oct 20 2025
INTRODUCTION:
Attached is the monthly Financial Report for October 2025.
DISCUSSION:
Attached is the monthly Finance Report for October 2025, including a summary of the
approved 2025 budget.
ACTION REQUESTED:
Accept the Monthly Financial Report.
ATTACHMENTS:
10-2025 YTD Financial Report
Page 3 of 33
Business
Unit
Object
Account
Account
Description Actual
2025
Budget
2025
NOTES
2000 - HRA/ECONOMIC DEVELOPMENT3510 UNRESERVED FUND BALANCE -411,501.80 Unaudited Fund Balance
2000 - HRA/ECONOMIC DEVELOPMENT4011 CURRENT PROPERTY TAX -125,000.00 -250,000.00 2025 EDA Levy
2000 - HRA/ECONOMIC DEVELOPMENT4516 ADMINISTRATION FEES - PROJECTS 0.00 0.00
2000 - HRA/ECONOMIC DEVELOPMENT4955 INTEREST ON INVESTMENTS -18,045.88 -2,600.00
2000 - HRA/ECONOMIC DEVELOPMENT4960 GAIN/LOSS INVEST MKT VALUE 0.00
-252,600.00 TOTAL REVENUE
2000 - HRA/ECONOMIC DEVELOPMENT6210 OFFICE SUPPLIES 0.00
2000 - HRA/ECONOMIC DEVELOPMENT6220 EQUIP SUPPLIES & PARTS 159.99 Branded Board for MREJ Event
2000 - HRA/ECONOMIC DEVELOPMENT6280 BOOKS & SUBSCRIPTIONS 1,426.51 150.00 Civic Send Newsletter Modual, Business Journal Subscription
2000 - HRA/ECONOMIC DEVELOPMENT6401 PROFESSIONAL SERVICES 23,648.10 25,000.00 Grocery Study, PR Services
2000 - HRA/ECONOMIC DEVELOPMENT6403 LEGAL 311.00 3,000.00 LAHA JPA Review
2000 - HRA/ECONOMIC DEVELOPMENT6426 INSURANCE 303.48 600.00
2000 - HRA/ECONOMIC DEVELOPMENT6445 POSTAGE/SHIPPING FEES 0.00 1,000.00
2000 - HRA/ECONOMIC DEVELOPMENT6450 OUTSIDE PRINTING 2,148.54 3,000.00 Marketing Material, Branded Attire, Signage
2000 - HRA/ECONOMIC DEVELOPMENT6455 LEGAL NOTICES 0.00 500.00
2000 - HRA/ECONOMIC DEVELOPMENT6460 MEMBER DUES & LICENSURE 7,910.00 8,500.00 MidAmerica EDC, DCR Membershio, EDAM, CVN
2000 - HRA/ECONOMIC DEVELOPMENT6470 TRAINING & SUBSISTANCE 4,665.55 5,000.00 EDAM Winter, ULI Training, Next25 Mtg, MAEDC Conference, EDAM Summer, EDAM on the Road
2000 - HRA/ECONOMIC DEVELOPMENT6470 TRAINING & SUBSISTANCE - DBB 0.00 0.00
2000 - HRA/ECONOMIC DEVELOPMENT6480 MEETING EXPENSE 304.44 500.00 Business Summit, AI Training
2000 - HRA/ECONOMIC DEVELOPMENT6485 MILEAGE REIMBURSEMENT 676.62 5,100.00
2000 - HRA/ECONOMIC DEVELOPMENT6492 ADVERTISING 0.00 0.00
2000 - HRA/ECONOMIC DEVELOPMENT6505 EQUIPMENT REPAIR/MAINTENANCE 0.00 1,000.00
2000 - HRA/ECONOMIC DEVELOPMENT6505 EQUIPMENT REPAIR/MAINT - DBB 0.00 0.00
2000 - HRA/ECONOMIC DEVELOPMENT6550 DEVELOPER PAYMENTS 0.00 50,000.00
2000 - HRA/ECONOMIC DEVELOPMENT6570 PROGRAMMING EXPENSE 17,709.00 85,000.00 MREJ Sponsorship, Open to Business, MREJ Awards Sponsorship
2000 - HRA/ECONOMIC DEVELOPMENT7310 OPERATING TRANSFERS 0.00 0.00
2000 - HRA/ECONOMIC DEVELOPMENT7420 OTHER 0.00 0.00
59,263.23 188,350.00 YTD Expenditures / 2025 Budget
-64,250.00 Unallocated EDA Funds
123,513.23 YTD Remaining Unspent Balance
Total 2000 - HRA/ECONOMIC DEVELOPMENT 0.00 -64,250.00
0.00 -64,250.00
0.00 -64,250.00
10-2025 Financial Report
Pa
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e
4
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f
3
3
ECONOMIC DEVELOPMENT AUTHORITY AGENDA MEMO
To: Economic Development Authority
From: Deanna Kuennen, Community & Economic Development Director
Department: EDA
Subject: Quarterly Report - Open to Business (Q3 2025)
Meeting: Economic Development Authority - Oct 20 2025
INTRODUCTION:
The Open to Business Program provides technical assistance and access to capital to small
businesses and potential entrepreneurs, in Dakota County. As required in the Joint Powers
Agreement, client outlining Advisor Business the by provided are reports quarterly
interactions and statistics. Attached is the Q3 2025 Report.
DISCUSSION:
Open to Business provides technical assistance and access to capital to small businesses
and potential entrepreneurs in Dakota County. Through the Joint Powers Agreement with
Dakota County CDA, communities within the county agree to leverage their individual
dollars for this important service.
In addition to the technical assistance and access to capital that is provided directly to
the clients, the Business Advisor, Natalie Mouilso, meets monthly with City Staff. The purpose
of these meetings is to learn about upcoming events and resources that can be shared
with interested businesses, share referrals, and discuss general trends/challenges/needs of
the small business community.
In addition to the Q3 2025 report, also attached for informational purposes is an overview
of the MCCD loan products and a general flyer about MCCD.
BUDGET IMPACT:
$5,500 annually
ACTION REQUESTED:
No action requested. Report is provided for informational purposes.
ATTACHMENTS:
Open to Business Narrative Report - Dakota County - Q3 2025
MCCD Loan Products Brochure - 2025
Page 5 of 33
MCCD - Brochure
Page 6 of 33
Natalie Mouilso, nmouilso@mccdmn.org, 952-451-6390
1/31/2025 – 9/30/2025
Clients Served YTD
Client Inquiry 2
Existing - Challenged 24
Existing - Opportunity 41
Pre-start planning 44
Start-up 36
Total 147
Business Owner Demographics YTD
# of Clients
Low-Income Owned 75
BIPOC or Immigrant Owned 85
Woman Owned 88
Financing & Access to Capital YTD
Loans & Grants Approved
includes CBLs (YRLY Total) $432,414.00
Equity (YRLY Total) $183,829.00
Facilitated (YRLY Total) $148,967.00
Total Investment $765,210.00
Program Hours
TA Program HRS
1st QTR 367 237
2nd QTR 477 185
3rd QTR 369 210
Total 1,213 632
TA: Client Meetings, Providing Resources, Client Calls, Client Deliverables, Loan Packaging
Program HRS: City Initiatives, Program Outreach, Public Events, City Meetings, Research, Data/Admin, General Inquiries
Page 7 of 33
Open to Business Report
2
Industry Segment YTD
Construction / Real Estate 5
Food 26
Health/Fitness 12
Manufacturing 4
Consulting 8
Retail 35
Service 26
Wholesale / Distribution 3
Other 28
Total 147
Referral Source YTD
Bank Referral
15
Entrepreneur 7
Friends and Family 19
Municipality 21
MCCD Partner/staff 19
Other 25
Web 36
Total 147
City YTD Business Resident
Apple Valley 20 14
Burnsville 25 15
Eagan 15 14
Farmington 12 15
Hastings 5 5
Inver Grove Heights 9 11
Lakeville 14 21
Mendota Heights 4 4
Rosemount 9 14
South St. Paul 9 8
West St. Paul 6 4
Other Dakota Co. 2 3
Other/ No Data 17 19
“We are part of MCCD's Open to Business Program, and the whole process has been a great learning experience. Our
loan application would've been difficult to accomplish without their help! Would recommend this to any
entrepreneur.” – Rosemount Loan Client
Page 8 of 33
Open to Business Report
3
Direct Financing & Access to Capital
Business Type: Bubble Tea & Café
Business City: Eagan
Residence City: Savage & Farmington
Referred by: Website
MCCD Financing: $175,000*
Owner Equity: $65,443
Overview: This startup bubble tea shop was seeking funds for start up expenses, tenant improvements,
equipment, inventory, and working capital. The two business partners put their heads together on opening this
business and were approved for a $175,000 direct loan from MCCD in January 2025, contingent on an 80% loan
guaranty from MN DEED through the DEED Small Business Credit Initiative.
*As the DEED guaranty application was in progress the business owners received news of some unexpected
project costs from their contractor and decided to withdraw their application and tabled the business plan for
now.
Business Type: Natural Beauty & Wellness Products
Business City: Burnsville
Residence City: Burnsville
Referred by: TikTok Influencer
Microgrant Facilitated: $2,500
Owner Equity: $2,500
Overview: This early-stage home-based business was established in 2023 and sells handmade beauty and
wellness products to friends and family. After a referral from a TikTok influencer who provides
entrepreneurship advice, the Burnsville resident reached out to MCCD seeking funding to expand her business
and launch her website. The business owner is a low-income single mother and qualified for a microgrant which
MCCD facilitated, and the client received in January. The funding allowed the business owner to increase
operational efficiency, buy inventory and supplies, and launch a new product line. The entrepreneur is currently
working on rebuilding her credit so that she can apply for an MCCD loan for the remaining funding to build and
launch her website.
Business Type: Food Truck and Cookie Dough Wholesaler
Business City: Eagan (Home Based & mobile throughout Twin Cities region)
Residence City: Eagan
Referred by: LEDC
MCCD Financing: $50,000
Owner Equity: $7,000
Facilitated financing/ funding: $50,000
Overview: MCCD collaborated with nonprofit partner on this $107,000 project to support a growing BIPOC and
woman owned cookie dough business. The business was established in 2021 as a response to the lack of
organic cookie dough available in the market. Their dough offers all organic, non-GMO, fair trade ingredients
with no preservatives and comes in three flavors. There are two branches to their business: the business-to-
business, where they sell wholesale through a distributor to co-ops and grocery stores and a direct to customer
retail - selling both the dough and fresh-baked cookies at farmers markets and festivals. They had been selling
Page 9 of 33
Open to Business Report
4
via a pop-up tent and recently came across the opportunity to purchase a food trailer to streamline their
operations. The borrowers needed funding food trailer improvements, equipment, inventory, and working
capital to help them take advantage of the upcoming selling season.
Business Type: Fashion Optical Boutique
Business City: Savage
Residence City: Burnsville
Referred by: Municipality
MCCD Financing: $82,173.70
Owner Equity: $30,636
Facilitated financing/ funding: $35,217.30 & $11,250
Overview: This entrepreneur is a licensed optician operating in the optical industry for more than 20 years. He
has always dreamed of opening his own optical store near his home in Burnsville to start to build wealth for
himself. He found an ideal storefront in Savage and reached out to MCCD for assistance with the project
funding for inventory, equipment, startup expenses, and ~ 3 months of working capital for operations. Total
project costs are $159,227 including the equity investment of $30,636 and a $11,250 tenant improvement
budget from the landlord. The loan request was approved by MCCD’s loan committee on April 24th contingent
on 30% participation from MN DEED through the Small Business Credit Initiative, application is currently
pending, and approval is expected in early May.
Business Type: RV Tank Cleaning
Business City: Rosemount
Residence City: Rosemount
Referred by: Community Partner
MCCD Financing: $30,000
Owner Equity: $2,500
Overview: This husband-and-wife team have a combined professional background in customer service, custodial
cleaning, and mechanicals. They also love camping and the outdoors and have been avid RV'ers for years. As
they grow older and become empty nesters, they saw an opportunity to make a side business out of their
passion and have something that they could continue into retirement. Through their time spent at campgrounds
in the Midwest they became aware of the opportunity to become a licensed dealer for an RV Tank cleaning
franchise. The business owners see this as a promising opportunity to generate additional income now and into
retirement while doing something that they truly love.
Business Type: Gift Shop
Business City: Apple Valley
Residence City: Lakeville
Referred by: CDA website
Facilitated financing/ funding: $50,000
Owner Equity: $70,000
Overview: This first-time entrepreneur came to MCCD seeking technical assistance and access to capital to help
her in the final stretch of opening a new gift shop in Apple Valley. Advising was provided on topics including lease
negotiation, insurance, build-out, networking, and business banking. Connection to a local credit union provided the
client with much-needed working capital and a line of credit for her store. The store is slated to open mid-late October
Page 10 of 33
Open to Business Report
5
Business Type: Amazon Retailer
Business City: Hastings
Residence City: Hastings
Referred by: Municipality
MCCD Financing: $20,000
Owner Equity: $2,000
Overview: This woman-owner business reached out to MCCD seeking working capital for new inventory. The
business owner is a nurse full time and started this Amazon-based retail business in late 2024 for supplementary
income. The business experienced a few strong months and then stagnated when inventory ran out in early 2025. The
client needed additional working capital to ramp up once more and the MCCD loan provided an important cushion so
that inventory will be continually stocked and the business can focus on growth.
Business Type: Home Healthcare / PCA
Business City: Eagan
Residence City: Farmington
Referred by: Other Entrepreneur
MCCD Financing: $75,000 – includes $50,000 in forgivable capital
Owner Equity: $3,750
Overview: MCCD began working with this business owner in 2023 when he initially reached out seeking
financing to grow his home health care business based in Eagan. He decided to table his request at that time and
reached back out in spring, 2025. Working closely with his loan officer for more than 100 hours, the application for
working capital was finalized in September. At the same time, MCCD kicked off it’s participation in the Groundbreak
loan program* and the client ultimately became MCCD’s first recipient of a Groundbreak loan structure which includes a
$25,000 loan that is immediately forgiven, a $25,000 loan at 1% interest only and eligible for forgiveness after five years,
and a $25,0000 loan with typical repayment terms.
*MCCD is one of four local nonprofits selected to participate in the Groundbreak project. Rather than advertise the
program, we are matching eligible clients internally and then giving them the news after the loan is approved. The
Groundbreak Coalition is a group of over 40 corporate, civic, and philanthropic leaders committed to demonstrating that
with enough resources, a racially equitable future is possible first in Minnesota and then across the country. The goal of
the small business loans is to provide early stage, growth capital to low-wealth entrepreneurs, including, but not limited
to Black entrepreneurs, who historically have faced barriers to accessing such capital from traditional sources.
Credit Builder Loans
In collaboration with nonprofit partners who provide credit building & financial awareness counseling, MCCD provides
$240 Credit Builder Loans (CBLs) to qualified applicants seeking to improve their personal credit. Credit Builder
applicants complete financial training through MCCD’s partners and are then referred to MCCD for a CBL. MCCD
generates and services the CBLs in-house.
Credit Builder Loans YTD
Resident City Loan Amount
West Saint Paul $240
TOTAL $240
Page 11 of 33
Open to Business Report
6
Highlights, Networking, & Outreach
Programming, Partnerships, & Trainings
• July 30 – MCCD hosted a webinar titled Understanding Immigration Policy and Impacts on Small Businesses with
panelists including Kwame Osafo-Addo, Attorney and Owner at TruLegalBiz; Brenda Pfahnl, Attorney and Owner
at Colibri Legal PLLC; and Lisa Zamora and Diana Salas from the MN Department of Labor and Industry. The
discussion included current updates and practical information for businesses regarding Immigration Policy
changes.
• September 19 & 20 – MCCD Senior Business Advisor & Loan Officer Luis Mendoza spoke with small business
owners and entrepreneurs at LatinoLead's annual leadership conference, LíderCon. Luis’ session on Financial
Foundations for Business Success was one of the many educational workshops offered at the event attended by
hundreds of Latine leaders and allies.
• November 5 – In partnership with UMN Law School MCCD will host a virtual Q&A session on small business law.
This free virtual event is held twice annually and is designed for business owners at any stage. Law student
panelists work with their supervising attorney to answer questions and provide legal resources and guidance to
help navigate law questions and concerns. Stay tuned for more RSVP information.
• November 6 – Mark your calendar for MCCD’s Annual Celebration. This year the event will be held at the B Suite
in Minneapolis. All partners are welcome. RSVP and additional information here.
Advertising & Outreach
• July 11 & October 3 – Field Trip Friday is back! In July we visited businesses in Ramsey County and in October we
visited businesses in Anoka County. Field trips are a fun way to engage local partners, highlight our clients,
promote small businesses throughout our service area. More field trips to come in 2026 once the weather
warms back up.
• August 26 – MCCD engaged our lending partners and networks through a new E blast update on our loan
program, loan products, and lending team. The E blast focused specifically on MCCD’s commercial real estate
lending capabilities.
• September 30 – Year to date outcomes and results were presented to Dakota County CDA and Cities at Eagan
City Hall.
• In the last quarter, banker and lender outreach occurred specifically with the BankOn Coalition, Frandsen Bank,
F&M Bank, Lakeview Bank, Royal Credit Union Twin Cities Metro CDC, and US Bank as well as our Lender E blast
which went out to 100+ lender partners and contacts.
• In addition to lending outreach, written or in-person presentations were made and/or networking efforts were
made including ongoing partnership discussions with UMN Law School, ACER, Dakota County Library System,
City of Rosemount Port Authority presentation, Dakota County CDA presentation, Dakota County Regional
Chamber, and City of Farmington monthly check-ins.
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Open to Business Report
7
Quarterly Highlight
Loan closing for Pokwo, Inc. MCCD’s first GroundBreak loan client.
“This loan will help build my business. It is very difficult to operate a business without enough working capital.
Thank you very much for your efforts. This will help me to grow the business to the next level now.“
- Apee Ochudo, owner of Pokwo, Inc. of Eagan
Page 13 of 33
For Start-ups Advisor Express
Fast and flexible financing.
Quicker response timeline
Loans up to $10,000 for small and early-stage
microenterprises
Flexible terms – from short-term financing (e.g.,
event funding) to 3–5-year repayment options
Micro Loans
Capital to help your business grow.
For startups and early-stage businesses
Loan terms of 3 to 5 years
Loan amounts up to $25,000 for retail and
service businesses and $50,000 for
manufacturing businesses
Helps businesses preserve working capital while securing the funds needed for growth. Provided in partnership
with banks and lending institutions, these loans move your business forward with accessible, strategic funding
to support:
Business expansion, equipment and inventory purchases, and leasehold improvements
Maximum loan amount of $300,000 (based on project needs)
Flexible terms to fit your business goals
Can be utilized for commercial real estate gap and acquisition financing
Gap Financing
For Growing Businesses
MCCD offers an accessible fee-based loan options
aligned with ethical and faith-based financial
principles. Instead of traditional interest charges, this
alternative approach uses transparent fees to cover
the cost of lending and services.
Our loan programs support entrepreneurs, small
business owners, and shared ownership enterprises
controlled by members who file taxes with an Individual
Taxpayer Identification Number (ITIN).
ITIN LendingFee-Based Lending
4% loans to support the conversion, startup, and growth of shared ownership enterprises, focusing on employee-
owned co-ops, real estate investment co-ops, and commercial land trusts.
Loan amounts: $50,000 – $300,000 (Lower and higher amounts considered case-by-case)
Not intended for housing development or share purchasing
No credit checks or personal guaranties required.
Shared Ownership Loans
O
O
C
S
SMALL BUSINESS LOAN PRODUCTS
About Us
The Minnesota Consortium of Community Developers (MCCD) is a nonprofit community development loan fund with
a mission to expand economic prosperity by investing in and stewarding community development resources. We
provide flexible capital to borrowers who encounter challenges accessing commercial financing, ensuring more
inclusive economic opportunities.
MCCD’s Open to Business Program provides capital and technical assistance to entrepreneurs and business owners
in the Twin Cities Metro. Our specialized development support and financing for Shared Ownership enterprises are
available to community groups and existing businesses statewide.
MCCD can provide services or make referrals for services in English, Spanish, Somali, and Hmong.
(612) 789-7337 | info@mccdmn.org | 3137 Chicago Ave Minneapolis, MN 55407
Contact Us
Interest rates of 4-7% with flexible terms
Page 14 of 33
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ECONOMIC DEVELOPMENT AUTHORITY AGENDA MEMO
To: Economic Development Authority
From: Deanna Kuennen, Community & Economic Development Director
Department: EDA
Subject: Entreprenurial Ecosystem Discussion
Meeting: Economic Development Authority - Oct 20 2025
INTRODUCTION:
Earlier this year the EDA directed Staff to develop programming to support local
requires which intentional, be should programming EDA entrepreneurs. Farmington
understanding the current entrepreneurial ecosystem, then exploring options for supporting
these entrepreneurs. The University of Minnesota Extensions (Extensions) offers resources to
help communities focus on entrepreneurs. Brigid Tuck, Senior Economic Impact Analyst
and Neil Linscheid, State Specialist of Entrepreneurship with the University of Minnesota
Extensions will attend the EDA meeting. They will lead a discussion with the EDA that uses
available supporting for and ecosystem options the understand to data existing
entrepreneurs in small towns.
DISCUSSION:
Before developing programming aimed at supporting entrepreneurs in the community, it is
important to first understand the existing entrepreneurial ecosystem. Staff has invited the
University of Minnesota Extension (Extension) staff to attend the EDA meeting. Brigid Tuck is
a of Specialist State a is Linscheid and Analyst Impact Economic Senior Neil
Entrepreneurship. They bring insights, research, and data that serves as the foundation to
walk the EDA through a discussion that looks at available data and what that data means,
which will lead to exploring options for supporting the entrepreneurs in Farmington.
Extension provides resources to strengthen community support for entrepreneurs and has
broad experience in helping Minnesota towns become entrepreneurial communities.
Additional information about their work can be found here: Strengthening community
support for entrepreneurs | UMN Extension
BUDGET IMPACT:
Not applicable
ACTION REQUESTED:
No action. This is a discussion that will frame ways in which the EDA can move forward to
Page 16 of 33
support and grow the local entrepreneurial ecosystem.
Page 17 of 33
ECONOMIC DEVELOPMENT AUTHORITY AGENDA MEMO
To: Economic Development Authority
From: Deanna Kuennen, Community & Economic Development Director
Department: EDA
Subject: Director's Report
Meeting: Economic Development Authority - Oct 20 2025
INTRODUCTION:
Attached please find a summary of recent economic development activities. Additional
details regarding some of the activity may be highlighted separately in the EDA packet.
DISCUSSION:
Attached please find a summary of recent economic development activities. Staff will be
available to answer questions.
In addition, a copy of the Dakota County Regional Chamber of Commerce presentation is
attached.
ACTION REQUESTED:
No action requested. This item is informational and is provided to communicate how the
EDA time and money resources are allocated and to track and measure the impact of
initiatives.
ATTACHMENTS:
10-2025 meeting
DCR Presentation 09-04-25
Page 18 of 33
Reporting
Period:
October
2025
DIRECTOR’S REPORT – providing project highlights and a summary of
economic development activity.
Projects &
Initiatives
• Rye Apartments Development
City staff and Economic Development partners have been invited to a
celebration with Yellow Tree and Rye Apartment staff, residents, city staff and
economic development partners on Wednesday, October 29.
Follow along: https://youtu.be/b5M_hJyF-7o
**Please visit the Community Development “Development Project Updates” page to
watch the progress of various projects underway in the community. More information,
imagery, and projects are being added as they advance.**
Development Project Updates | Farmington, MN
• BRE
Staff continue to reach out to local businesses.
Prospects
• Request For Information (RFIs)
Project Kraken – DID NOT SUBMIT – medical equipment assembly and
manufacturing, seeking existing buildings only.
Canadian Company – DID NOT SUBMIT – manufacturing plant seeking existing
buildings only.
Project Sarek – DID NOT SUBMIT – rare earth magnet manufacturing facility seeking
existing buildings only.
Project Corona – DID NOT SUBMIT – food manufacturing/retail operation, seeking
acreage.
Page 19 of 33
Project Heart – DID NOT SUBMIT – seeking 60+ acres requiring rail access for
a heavy power user. Project lead from DEED and will require an NDA.
Project Blue – DID NOT SUBMIT – only considering existing buildings. Project
lead from GreaterMSP
Project Locksmith 2 – DID NOT SUBMIT – manufacturer of high-end dairy
products, only considering existing buildings previously used for dairy
production/food grade.
Project Black Sabill – DID NOT SUBMIT – seeking minimum 250-acre site for
heavy industrial user/manufacturing plant.
Project Duck – International company, seeking existing building (move-in
ready) for a manufacturing operation.
Project Gamma – DID NOT SUBMIT – seeking existing building, minimum,
250,ooo SF in size for AI and robotics company.
Project Green – SUBMITTED sites for consideration – distribution hub seeking
industrial land for purchase
With land available as purchase agreements have expired, staff have contacted
older RFI holders to determine if there are additional fits for newly available
land.
• Developer Meetings
Since the start of the year, Staff has met with the following developers and
real estate brokers who have expressed interest in working in Farmington.
Conversations continue and various opportunities continue to be explored
and vetted:
o Sever Commercial Construction
o MWF
o DBS
o Acumen
o DR Horton
o Synergy Land Co.
o Cushing Terrell
o CORE Real Estate Group
o Caughan Companies
o Obsidian
o Ozhi Development
o Bauer Design & Build
o Remain RE
o NEOO Partners
o CBRE
o Cushman & Wakefield
o NEOO Partners
Page 20 of 33
o CERRON Commercial Properties, LLC
o G. M. / Acumen Business Solutions, LLC
o Upland Real Estate Group
o Cushing Terrell
o Remain RE / APPRO
• Other Prospects
Initial conversations have occurred with existing and prospective businesses
looking to locate/relocate in Farmington. The types of projects that are
represented include entertainment, services, hospitality, manufacturing,
commercial/retail, quick serve restaurants, daycare, and MF housing.
Other
• Grocery Initiative
At its February meeting, the EDA authorized staff to move forward with
completing a grocery market study for Farmington. The report, which was
shared with the EDA at their May meeting, is actively being used to market
Farmington to groceries, developers, wholesalers, etc. . **The report has been
provided to multiple parties allowing the grocery conversation to advance. Prior
to having the report, Staff was only able to provide anecdotal information. Now
the conversations focus on data.**
Staff will be building out a “public facing” component to the grocery
recruitment efforts. This will likely involve community surveys, a page on the
website with market information, etc. utilizing insights from the KState Rural
Grocery Initiative.
• Partner Meetings
Staff is prioritizing connecting and leveraging our economic development
partners – including the Minnesota Trade Office, DEED, Greater MSP, utility
providers, and other organizations. An example of this is Staff attended the
Greater MSP Partnership Next25 event in late February to learn about their
successes and goals and to better understand Farmington’s place in the
region.
Partners are being invited to attend upcoming EDA meetings, to share their
vision, role, and plans. This will provide an opportunity for the EDA to connect
with these partners, ask questions, gain a broader understanding of how our
work aligns, and learn how we can leverage these relationships. Invitations
have been made to the following:
DCTC/Inver Hills College - March
MCCD / Open to Business – April
Dakota County CDA – May
CVN/Brookshire - June
Dakota County Regional Chamber - July
University of Minnesota Extension Office – October
Page 21 of 33
GreaterMSP
DEED
Utility Partners – Xcel, Dakota Electric, Northern Natural Gas
• MREE
September – staff were invited and participated in the Minnesota Real Estate
Exchange meeting. This organization is different than MREJ and opened
conversations with different brokers on actionable items.
• MREJ – Summits/Conferences/Awards
Staff tabled at the MREJ Finance and Tech Summit. These tabling and
networking events foster deeper conversations and connections with
brokers/agents/developers who typically see Team Farmington presenting
and tabling at the MREJ Summits.
Staff will also be speaking at the upcoming MREJ Industrial Development
Summit on November 14, 2025.
• Other Speaking/Presentation Invitations & Commitments
o August – Minnesota Shopping Center Association, Strategic Retail and
Development Growth: Perspectives and Collaboration with Community &
Economic Development Experts. This was a *new* invitation, expanding
the reach of Farmington’s story, vision, and opportunities.
o September – Dakota County Regional Chamber of Commerce –
Community & Economic Development Updates from Partner Cities.
*Presentation attached*
o September – Staff participated on an economic development panel for
a course at the University of Minnesota Humphrey Institute.
o September – Staff represented the city at Fissan Training’s open house.
o November – Staff will be attending the Minnesota Commercial
Association of Real Estate (MNCAR) Expo. 500+ experts in the
commercial real estate industry attend.
• Economic Development Website
Staff is working on updating the economic development content on the city’s
website. The purpose is to make information easily accessible and build out
content which is known to be important to site selectors and business
representatives. The 2025 “State of the City Business” video has been added:
Economic Development | Farmington, MN
Page 22 of 33
• Business Resources
Staff have and will continue to look for ways to advance dialogue and
leveraging strategic partnerships with our economic development and
community stakeholders.
o AI For Business – Part 2
With the success of our first in a series of collaborations with Dakota
County Technical College (DCTC) and Inver Hills Community College
and feedback received by businesses that participated, we look to
bring back Matt Boudinot from DCTC to present a deep dive into AI.
We are targeting Wednesday, January 21, from 2:00 to 4:00 PM at the
Dakota County Library in Farmington.
o Workforce Readiness/Business Skills in 4 Hours
Content planning for this “mini-series” is underway. Again, collaborating
with DCTC and Inver Hills Community College – the goal is to bring
forward training opportunities that the community can benefit from
(businesses and workforce):
• Strategic Land Acquisition/Shovel Readiness
Staff continue to explore opportunities to increase the available land supply
and/or the level of shovel readiness associated with existing land.
Conversations are underway with developers and property owners exploring
what this could mean for key opportunity sites. More information to come.
Page 23 of 33
2025 DCR CHAMBER -
ADVOCACY & ISSUES FORUM
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…THIS IS FARMINGTON…
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LAST YEAR I ENDED THE PRESENTATION WITH…
MORE TO COME
IN 2024!
•Rambling River Center - $2.5m project funded with $750k federal grant
•North Creek Greenway – final segment funded with $1.6m grant
•3 cadets – funded by State of MN IC POET $150k grant
•Police Department Fence project – funded with $865k federal grant
•Farmington Skate Park -$1m project partially funded with Mn DNR $350k grant
•Wayfinding Plan – adopted by the City Council
•“Re-launch” – Minnesota GreenStep Cities initiative (inactive since 2019)
•Denmark Trail Townhomes – 40-unit CDA development – completed!
•The Emery – 74-unit AWARD WINNING apartment project
•The Rye – 168-unit market rate apartment (opening soon!)
•Alternative Urban Areawide Review (AUAR) – 600+ acres – providing shovel-ready land
•My Town Season 1 – one of 7 communities highlighted. Season 2 recently wrapped filming.
•Dakota County Lumber expansion plus many other local business investments & expansions
•Grocery Store Market Analysis – believe it or not, Farmington does not have a grocery store.
•Enhanced partnership with DCTC – business survey & delivering WF training
•HBC – fiber to the premise + free wi-fi in city parks
•Tract – Farmington Technology Park Master Plan
…AND WE DELIVERED!
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BOLD THINGS HAPPENING IN FARMINGTON…
HOUSING DEVELOPMENT
•2 new market-rate apartments (first in over 30 years!)
•40-unit CDA townhome project (first of its kind)
The Emery & The Rye
Opened 2024 / Opening Soon
(Award Winning!)
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BOLD THINGS HAPPENING IN FARMINGTON…
COMMUNITY DEVELOPMENT
•Investments in our Seniors & in our Parks
Rambling River Center - $2.5m project
Closed facility for 9 months
(relocated operations)
Complete remodel
Re-opened in August 2025
We listened..
COMING SOON
Farmington Skate Park
$1m project
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BOLD THINGS HAPPENING IN FARMINGTON…
ECONOMIC
DEVELOPMENT
•Farmington
Technology Park
•2.5m SF master
planned data center
park
•$5B proposed
project investmentPa
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BOLD THINGS HAPPENING IN FARMINGTON…
ECONOMIC DEVELOPMENT
Data Center (Farmington Technology Park) | Farmington, MN
•Annexation
•Environmental Review – started 4/2024
•Rezoning/PUD
(data centers are allowable uses in 2 zoning districts since 2015)
•Comprehensive Plan Amendment
•Met-Council Approval -
5/2025
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MOVING FORWARD…
WE WILL CONTINUE TO TELL OUR STORY & LEAN
INTO OUR STRENGTHS AND AUTHENTICITY.
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MOVING FORWARD…WELCOMING A NEW CHAPTER
“What you just heard is only a glimpse of the spirit and momentum pulsing through Farmington.
These stories reflect a powerful truth: new and old businesses are thriving, growing,
and redefining what’s possible right here in our city.
And that energy… It’s contagious. Here in Farmington, we don’t wait for the future to happen, we
shape it. We take pride in being unexpectedly bold—in pushing boundaries, lifting each other up,
and turning big ideas into real results.
We’ve faced challenges, yes. But we’ve met them with courage, creativity, and collaboration. And now,
we’re stepping into the future with more momentum than ever.
The state of our city…It’s not just strong—it’s bold, bright, and just getting started.”
Mayor Joshua Hoyt, 2025 State of the City
& MORE TO COME…
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THANK YOU
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