Minutes - Economic Development Authority - 02/09/2023

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larger stormwater pond would be a benefit, he would like to know as EDA dollars could be contributed towards the cost for acquiring that portion of property. Member Riley commented that this area is commercial/industrial, and this stormwater pond would seem to make the area more usable and better for future development. He stated that the road improvement project would also seem to enhance the value of the area to increase interest in development of this area. Economic Development Manager Sullivan agreed that typically a road project would not fall under the review of the EDA but explained that City utilities will be added in order to attract future development. Member Johnson stated that once the dome is constructed that could attract different ancillary uses to the area. Economic Development Manager Sullivan agreed that there has been a lot of discussion about the development interest that a sports dome could bring. Member Riley stated that the proposed location seems to be a great spot for the regional stormwater pond. He asked if there would be more developable land for the northern properties. Economic Development Manager Sullivan provided background information on stormwater in this area noting that the three parcels marked in red would benefit from a larger stormwater pond not all of the properties in the area. Member Olson asked if the proposed regional pond would eliminate or reduce the onsite ponding for the ARAA site, which could expand parking on that site. Economic Development Manager Sullivan replied that would provide more flexibility for ARAA to reduce the stormwater treatment provided onsite. Chairperson MacLennan stated that he likes the regional stormwater pond concept. He stated that everything east of Ferret Street is designated COR and could have retail shopping uses. He stated that ultimately as a member of the EDA he would like to see the two rental properties redeveloped with more desired uses. He asked if the building on the PSD property would be demolished. Economic Development Manager Sullivan replied that PSD has communicated to the city that it will will be demolishing that building when this project moves forward. Chairperson MacLennan asked where the pond is for that property. Economic Development Manager Sullivan identified the existing pond for that property. He noted that the regional stormwater pond is still hypothetical and will depend on how the sports dome project moves forward. He stated that his intention was to determine whether the EDA would find it beneficial to provide some funding for that enhancement in return for the economic benefit that could be received in return. Economic Development Authority/February 9. 2023 Page 6 of 9