01-20-2009 EDC Meeting - Laserfiche WebLink

Home Browse Search

Economic Development Committee December 16, 2008 Page 2 of 4 Mark Jurchen reported that the downtown plan sub-committee has met twice. Mark noted that some of the main issues discussed at the meeting were: • Cost of the project per business per square foot • The need to keep moving forward • The concern of how to pay for the project • The need to be ready to move especially with the availability of state and federal funds • The need for a market analysis in order to ensure healthy businesses when the project is complete. Sheila Haverkamp gave some scenarios on funding. The total cost is 4.5 million with a total of about 20 blocks to share the cost. It was determined that the 4.5 million includes infrastructure repair and improvement costs. Discussion was held regarding what amount, if any, the businesses could afford to pay. The group talked about types of funding. Discussion was held about the process that needs to be followed to implement the plan. The EDC felt it was necessary to have a vision as to what the City wants Pequot to become. One important aspect would be good solid businesses. It was the consensus of the EDC to update the Council on the Downtown Plan. Chair Larsen noted that he would also update the Council on the goals and accomplishments of the EDC. Discussion was held about the timing and the project for the Small Cities Development Grant. The EDC noted that Government Drive including the storm water issue would be a starting point for the Small Cities Development Grant. Discussion on White Board Comments The EDC reviewed the list of"What's Missing in Pequot Lakes." It was decided that the City must identify what types of business both locals and tourists can support. 6. EDC Membership and Terms Chair Larsen noted that the makeup of the EDC should eventually change. He recommended a new member to replace Nancy Adams position on the EDC. Chair Larsen suggested two year terms with a two time term limit. He further suggested that at the January 2009 meeting existing members choose from a one or two year term beginning January 2009.