Agenda - Economic Development Authority - 12/14/2017

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EDA. He stated that it is a different approach than the City has looked at in the past, noting that the City has not had overwhelming success with the other approaches and therefore believed it would be worth it to hear what they have to say. Member Skaff stated that he heard the pitch in the past. He asked if there is a way to share the cost. Economic Dev. Mgr./Assistant City Administrator Brama agreed that there would be value to others in the community and therefore there could be an option to share the cost. He noted that the contract time could range from one to three years. Member Riley stated that finding out this type of information could be helpful and has been suggested by the Planning Commission in the past. He stated that although he is not certain that this is the best product. He stated that the City could buy this but retailers and developers still use their own data and therefore it could be redundant. He stated that he would be interested in hearing more but perhaps his concerns could be shared with the group prior to their presentation. Chair Steffen stated that perhaps the deliverable from nine years ago could be dusted off to be discussed at the presentation. He asked the repeat customer range. Economic Dev. Mgr./Assistant City Administrator Brama stated that he would prepare a good list of questions if the EDA would like to take the time to hear the presentation. Member LeTourneau stated that the community sells itself short sometimes and believes that the City knows what is going on in the market. He stated that in instances like this perhaps the City is looking for someone to tell them what they want to hear, rather than what they already know. He stated that he is not opposed to hearing the presentation but would be skeptical. He stated that the City is emerging, but is not there yet in attracting the prospects they want to have here. He stated that this seems that the City would be spending money to hear what they already know. Chair Steffen agreed noting that the City has seen more prospects lately than they have ever seen and are hearing the concerns from the market directly. He noted that he would be open to hearing the presentation. City Administrator Ulrich agreed that staff could do more research. He agreed that retailers and developers are still doing their own research and is unsure that a retailer would jump on a site because Buxton says they are a good fit. He stated that perhaps $50,000 would be better spent on the City doing its own research or on a restaurant incentive program. City Administrator Ulrich noted that there will be a special election for former Councilmember on April 10, 2018. He stated that Member LeTourneau was the designated alternate and a formal designation will soon go before the Council to make Member LeTourneau the formal Member with a new alternate. He stated that the date has been extended to accept applications for the current vacant position on the EDA and noted that the Council will conduct interviews on October 24th. He stated that the City held a tour with the Metropolitan Council on Tuesday night. Economic Development Authority/October 12, 2017 Page 4 of 5