07-16-2019 EDC Meeting Minutes - Laserfiche WebLink

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EDC Minutes July 16, 2019 Page 3 of 4 � ----------------------------- Kristen Fish-Peterson stated that a housing developer will be able to use the data from the study to justify their interest in developing a certain area and there will be strategies and recommendations on how to bring the developers into the area. Chair Lindholm asked about timeline for the study to be completed. It is estimated to be finished by the end of December. Jennifer Bergman explained that it is a six month Study being conducted and funded by the Crow Wing County HRA and they did not ask individual cities to contribute but there will be individual sections so each city will be informed on their area. Discussion about infrastructure, well costs, and sewer costs ensued with a well costing about $8,000 to install and a septic system costing about$10,000- $18,000 to install depending on location. Chair Lindholm noted the importance of income levels and building a vibrant community not a community for the wealthy. Bob Erickson with Babinski Properties stated that their apartment buildings are at about 85% occupancy which may indicate that there are not jobs or people are looking for a different cost range for rental units in the Pequot area. He believes � people are looking for middle range apartments or$150,000-$250,000 homes. Discussion ensued about the cost of building new homes, making them affordable, and policy makers being more flexible to allow for new housing. 5. Peauot Lakes Business Park Prospect Shelia Haverkamp with BLAEDC stated that she has been in conversations with Joe Dotty about his interest in Lot 13 in the existing Pequot Lakes Business Park which is located south of Lonesome Cottage and north of the City's Public Works Facility. Ms. Haverkamp stated that Mr. Dotty currently has lots in the Business Park and has been a great multi-tenant developer for the City. Ms. Haverkamp noted that Mr. Dotty would like to put together a plan and come back to the September EDC Meeting to present his plan and he is requesting the property be placed on hold for him until he has a chance to present his plan. Ms. Haverkamp recommended that he be given until October 15th to ensure that he has enough time to present his plan to the EDC in September and to the City Council in October. Mr. Dotty is willing to offer full price of$55,500 for the property and he is planning on building out his existing Business Park lots as well. Discussion ensued about how long the property has been for sale and authority of the EDC for this transaction. COMMISSIONER HOLLEY MOVED TO RECOMMEND TO THE CITY �— COUNCIL THAT MR. JOE DOTTY BE PROVIDED A PURCHASE