Agenda - Economic Development Authority - 11/10/2022

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Economic Development Authority(EDA) 5. 1. Meeting Date: 11/10/2022 By: Sean Sullivan, Community Development Title: Project update Purpose/Background: The purpose of this case is to provide an update on active purchase agreements and other EDA projects underway, recently completed or in the project pipeline. This is an information item. Notification: N/A Observations/Alternatives: Recently Completed Projects •Anderson Dahlen Expansion- 65,000 SF - Manufacturing -The building was completed in 2022 and the company is moving equipment into the building and starting operations. •Oppidan 1 - 111,300 SF -Industrial Flex-Building completed in November 2022. Lexington Manufacturing (city generated lead)inked lease for 63,000 SF. •BLIP 4 -67,000 SF-Industrial Flex-Building completed in early 2022. Integrity Tool (city generated lead)inked lease for 37,000 SF. •O'Reilly Auto Parts - 7,000 -Building completed in 2022 and business is open.Wall along Sunwood Drive currently under construction with 2022 completion date. •West Armstrong Retail - 15,000 SF -Retail -Building almost fully leased (Big Adventures Daycare, Papa Murphys and Anytime Fitness). •Allison's Petite Pastries -Retail. Opened in Summer 2022. Utilized$1,500 Restaurant Sign/Awning Program. •Miss Iz Ice Cream and Soda Shop -Opened in Fall 2022. Utilized $1,500 Restaurant Sign/Awning Program. Projects Under Construction •Oppidan 2 - 147,000 -Industrial Flex-Anticipated construction to be completed in December 2022. Working with developer to find tenants. •North Star Marketplace (across from Coborn's) - 7,200 -Retail -Anticipated construction to be completed in Spring/ Summer of 2023. This completes the last building of the project. •Pact Charter School -Pre-construction Meeting complete -2022-2023 construction. Completion anticipated in 2023. Projects under LOU PA/Right of Re-Entry Agreements •Reliable Holdings (Blueline Collision) - 10,000 SF -Commercial- Construction to commence Spring 2023 with fall/winter 2023 completion. RORE Agreement in place - C/O required by December 31,2023. • Storyteller Cafe - 12,000 SF -Mixed Use - Site Plan needs to be resubmitted for approval.(expired) Construction to commence Spring 2023 with fall/winter 2023 completion. RORE Agreement in place - C/O required by December 31, 2023. •Schiebout Family LP - 82 unit Hilton Home 2 - Commercial - Executed Purchase Agreement with Notice to Proceed by March 26, 2023. Business Assistance TIF Application in process - December EDA Meeting for TIF review/recommendation. •COR Trust Bank- 3-6000 SF - Commercial - Executed Purchase Agreement with Notice to Proceed by March 30, 2023. Site plan in development, likely January/February 2023 submittal.