HomeMy WebLinkAbout2. EDC minutes 1.24.23 DRAFT
CITY OF LAKEVILLE
ECONOMIC DEVELOPMENT COMMISSION
MEETING MINUTES
January 24, 2023
1. Chair Seiler called the meeting to order at 4:00 p.m. in the Marion Conference Room.
Members Present: Comms. Lowell Collman, Jim Emond, Bob Gillen, Sara Lundberg, Jack Matasosky, Andrew Phillips, Don Seiler,
Ex-officio Members Present: Mayor Luke Hellier, Chamber President Krista Jech
Members Absent: Comm. Rick Bjorklund, Jessica Christiansen, Glenn Starfield
Staff Present: Tina Goodroad, Community Development Director; Kati Bachmayer, Economic Development Coordinator
2. Approval of October 25, 2022 Meeting Minutes
Comms. Gillen / Emond moved to approve the minutes of the October 25 meeting.
Motion carried unanimously.
3. Presentation by Guest Speaker, Matt Mullins, Maxfield Research, Housing Needs
Assessment
Ms. Goodroad welcomed guest speaker Matt Mullins, Vice President at Maxfield Research & Consulting. Maxfield was hired in October 2022 to conduct the City of Lakeville’s Housing Needs Assessment Study. Mr. Mullins reviewed the purpose of the study and the components that will be included (e.g. household characteristics, for-sale market analysis, etc.) and then opened it up for discussion. EDC members provided feedback and guidance around topics such as perceived housing needs, barriers and housing’s role in worker recruitment and retention. At the end of his presentation, Mr. Mullins shared insights about the economic outlook for single-family, rental, senior housing and development across sectors in 2023. A draft of the study is anticipated to be available in March, at which time the EDC will be asked to review and respond to the document before it is finalized.
4. Project Updates
a. Future of Retail and Industrial panel – follow up discussion. Ms. Goodroad asked the EDC for feedback to follow up the Urban Land Institute meeting held on January 9, 2023. Members expressed appreciation for the panelist’s expertise and frankness regarding the industrial and retail development markets. They recommended staff devise creative ways to help retailers look beyond their rigid development requirements (that typically remove Lakeville from the short list) and review the City’s project approval
Economic Development Commission Minutes January 24, 2023 Page | 2
process to streamline where possible. A request was also made for more regular joint meetings throughout the year.
5. Marketing Efforts a. Outreach – Ms. Goodroad participated in the MN Real Estate Journal Suburban Summit as a panelist in December 2022. The event was an opportunity to promote Lakeville as a great place to do business. b. Events – The State of the Business Community is scheduled for March 9. The City is coordinating with the Chamber to invite industrial park businesses and brokers to the event to help spread the word on Lakeville’s developable land and opportunities for business expansion.
6. 2022 Economic Development Annual Report Ms. Goodroad presented the 2022 Economic Development Annual Report. Highlights include a total building permit valuation of $321 million, 20,669 people employed in Q2 2022, strong medical office growth and more.
7. Adjourn Meeting adjourned at 5:15 p.m.
Respectively submitted by: Kati Bachmayer, Economic Development Coordinator