05-17-2022 EDC Meeting Minutes - Laserfiche WebLink

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EDC Minutes May 17, 2022 Page 2 of 4 various parcels of land are being identified as potential developments for condos and apartment complexes. He informed the contractors of the WAC and SAC incentive that is being offered for the next five years, He stated some challenges which include rising interest rates, cost of material, and shortage of contractors. Mr. Jurchen asked the contractors what their biggest demands or challenges are. • High need for interim housing or short-term —ADU's, room rentals • Interest rates doubled within months • Custom work demands • Cost of materials for homes too high • Concerned that infill lots will not do a lot for the city • Infrastructure costs—look for grants Chair Lottman asked the builders to contact Mark Jurchen if they have any questions or ideas. 6. Chamber Update Commissioner Lelwica read the update from the Chamber: • Explore Pequot Lakes Business Meetings that occur once a month are going GREAT! We are seeing a lot of involvement! Next meeting: 7:45AM —9AM on Tuesday, May 24th at Snarky Loon (Both members and non- members are invited. No cost) • Planning for Stars and Stripes Days and Bean Hole Days is going well. Many vendors signing up again! Tyler Glynn informed the EDC that BLAEDC and the local Chambers are doing business retention and expansion visits. 7. 2022 Proiect Goals Chair Lottman feels that the EDC is getting close to doing some recommendations to the City Council. He stated that he would like to challenge the EDC members to bring ideas for recommendations to the next months meeting. He stated the goal was to present six items to the Council. 8. BLAEDC Update A. Destination Downtown Tyler Glynn asked the EDC if they wanted to mirror what Brainerd had done for destination downtown. He said the advantage in Brainerd is a building owner of several buildings offered to do updates as needed for the business owners. Discussion ensued about the businesses in Pequot Lakes. Chair Lottman like the mentor part of the contest. He asked Mr. Glynn if he could compile the Brainerd Downtown information and send the information out the EDC Commission. Commissioner Lelwica asked if he could look into the housing trust fund to go along with condos on the building downtown.