6. Heart of the Good Life Development - EDC Marketing Subcommittee Meeting Notes

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EDC MARKETING SUBCOMMITTEE MEETING NOTES DECEMBER 3, 2018 1. Pricing – A review of infrastructure costs reflected anywhere from $43,000 to 48,000 per acre of development costs. We concurred with Tim’s insight, that we should probably use $50,000. Further discussion resulted in adding approximately $15,000 per acre for the value of the land. That would keep us competitive with surrounding business parks, especially considering the exposure that the park would have on the new Hwy 371. It would also provide additional funds for the business park for future needs and plans. $65,000 will be recommended as the price per acre to the EDC for discussion and subsequent recommendation to the City Council. 2. Marketing Packet – The consensus that this is a fluid document and will be changed and adapted as time progresses and needs change. One item was to change the summer population of 100,000 to reflect an impression that the city proper increases to that number. Utilizing a regional reference of 100,000 in the Crow/Cass County area surrounding Pequot Lakes was recommended. 3. Marketing Video – Consensus was that the video reflected the standards, market, and message that we would like to deliver. The end should indicate a web page and contact such as the City of Pequot Lakes or BLAEDC in the event a viewer is interested in additional information. 4. Zoning, Architectural, and Landscaping Requirements - It appeared to be our committee’s view that high standards with flexibility as to use was an approach we would like to adopt. Items such as attractive buildings versus basic pole buildings, curb and gutter, significant vegetation with proper screening, quality lighting, and overall aesthetically pleasing presentation were a common theme. We discussed a 50% maximum with the utilization of a Conditional Use Permitting process to increase the percentage to 75% with a review of use and architectural by a special committee. The possibility of utilizing a separate zoning district for this expansion was also discussed. The planning and recommendations for this will be submitted to Justin for his review, input to the process, and future implementation. It will need to be developed by Planning and Zoning in the coming months. TIF could possibly be used to assist in aiding a potential purchaser in satisfying the standards of the expanded park. Restrictions and covenants will be part of the overall plan. Since the initial investment will not entail the entire project, patience and perseverance will be the operative word in waiting for the right prospects along with right to refuse any sale if it doesn’t meet the criteria. Requirements to begin building and jobs will also be factored in to the process. DEED grants along with other sources of revenue for infrastructure will be explored. Shovel ready certification is part of this process and important in marketing. 5. Marketing Outreach – It was agreed that the video should be pushed out to the public with the assistance of the new communication director at the Chamber. Facebook, Internet sites, DEED, Trade Shows, etc. would be targets for placement. It was agreed that the process will need to be centered around “who do we know” and boots on the ground. Contacting existing businesses, alumni of our school, industry representatives, and various chambers and publications will all be a source of contacts for future prospects. Our local utility companies will also be a useful source of referrals in the future. The budget we currently have as an EDC for