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06-30-09
City of Lakeville -- Economic Development Commission Regular Meeting Agenda Tuesday, June 30, 2009, 5:00 p.m. City Hall, 20195 Holyoke Avenue Lakeville, MN 1. Call meeting to order 2. Approve May 26, 2009 meeting minutes 3. Continued Discussion of Proposed Zoning Ordinance Updates. 4. Review and Provide Recommendation on Proposed Business Subsidy for ImageTrend 5. Business Retention Visits Summary 6. Director's Report 7. Adjourn Attachments: May 2009 Building Permit Report Dakota County CDA May, 2009 Foreclosure Report DEED News Release, June 18, 2009 -Employers cut 9,600 jobs in May; smallest job loss in nine months Item No. ~ City of Lakeville Economic Development Commission Meeting Minutes May 26, 2009 Marion Conference Room, City Hall Members Present: Comms. Matasosky, Stanfield; Schubert, Emond, Brantly, Longie, Ex-officio member Mayor Holly Dahl, Ex-officio member City Administrator Steve. Mielke, Ex-officio member Chamber of Commerce Executive Director Todd Bornhauser. Members Absent: Comms. Smith, Tushie, Vlasak. Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist, Daryl Morey, Planning Director, Allyn Kuennen, Associate Planner, Dan Licht, Northwest Associated Consultants. 1. Call Meeting to Order Chair Matasosky called the meeting to order at 4:3~ p.m. in the Marion Conference. Room of City Hall, 20195 Holyoke Avenue, Lakeville, Minnesota. 2. Approve February 24, 2009. Meeting Minutes Motion 09.04 Comms. Schubert/Emond moved to approve the minutes of the February 24, 2009 meeting as presented. Motion carried unanimously. 3. Presentation and Discussion of Proposed Zoning Ordinance Updates David Olson introduced the City's planning consultant, Dan Licht of Northwest .Associated Consultants, and provided the EDC with the status of the zoning ordinance update process. Mr. Licht provided the EDC with background information on the zoning ordinance update process and reviewed the packet memo outlining the proposed changes to exterior building. finishes within commercial and industrial zoning districts. Mr. Licht showed a PowerPoint presentation citing examples of different types of building finishes and examples of buildings and architectural standards from surrounding communities. Comm. Brantly asked if these proposed changes would .impact the downtown design guidelines. Economic Development Commission Meeting Minutes May 26, 2009 Mr. Licht replied that the downtown design guidelines would supersede these proposed ordinance changes. Chair Matasosky and Comm. Starfield asked about how these proposed changes would impact businesses looking to expand. Mr. Licht stated that the proposed changes are not retroactive and would only apply to expansions of more than 50% of the original building. Mr. Licht compared the proposed ordinance changes to other cities in the Metro area. and noted that .the changes are very similar to what already exists in Eagan and Woodbury. Daryl Morey reviewed the discussions that the Planning Commission. had on the proposed ordinance changes. He noted. that` they unanimously recommended the proposed changes. Mr. Licht discussed the future of development primarily .around the 135/CR70 interchange area and noted that as the gateway into Lakeville, it will be important to achieve higher quality development in that area. Allyn Kuennen added that some of the higher quality developments in Lakeville have been achieved only through staff negotiation mainly as .part of a planned unit development (PUD) due to the lower quality exterior finish requirements in the existing zoning ordinance. Comm.. Emond asked about the cost of brick and the associated labor costs compared t© other materials. Chair Matasosky responded that it depends on the type of construction used. It was also noted that a cost comparison of materials was included in the EDC packet. Comm. Emond asked about the existing standards at the 135/CR70 interchange. Steve Mielke responded that in areas such as McStop that have private association requirements, the higher standards would prevail Chair Matasosky stated that the Chamber of Commerce's position on this issue is to not move forward with it. Mr. Mielke responded that the Chamber of Commerce hasn't seen this presentation yet and that a next step would be for staff to make a presentation to them and allow them to ask questions and comment on it. He added .that while the potential cost 2 Economic Development Commission Meeting Minutes May 26, 2009 implications of some of the proposed changes may be difficult, this is a-long-term vision for the City. Chair Matasosky added .that in this current economic environment this is cost prohibitive to business. There are a number of businesses that wouldn't be here if these requirements were in place when they originally built. Todd Bornhauser added that Lakeville's competition isn't only local, but also surrounding states. Comm. Schubert stated that the EDC's goal is to make Lakeville attractive for businesses to locate here. The commercial and industrial businesses pick up the majority of the-tax burden already. Mr. Mielke asked. what the major differences for the proposed. industrial requirements are compared to what exists in the zoning ordinance today. Mr. Licht responded that currently the ordinance allows for up to 50% metal on an industrial building. In the proposed ordinance metal would no longer be allowed. Chair Matasosky added that natural gray wi11 not be allowed in the proposed ordinance as a base color for masonry materials. Mr. Morey responded that natural-gray is not allowed in the existing ordinance. Chair Matasosky stated that the details of what is being proposed needs. to be examined to a greater extent. He added that a project such as Ryt-way with an expansion of more than 50% wouldn't be allowed under the proposed changes. Mr. Olson added that pride to the meeting he had spoken with both Comms. Tushie and Smith and conveyed their opinions of agreeing with the Chamber of Commerce on opposing any changes. Comm. Starfield gave an example of a retail building that was empty and that lease space is too expensive. Additional requirements could increase already high rents. Chair Matasosky .stated that Lakeville competes with Farmington, Northfield and Lonsdale for industrial projects and that they all allow outdoor storage and metal buildings. Mayor Dahl stated that there is a balance needed. in order to get people to want to live in Lakeville. Businesses come to Lakeville because of the demographics. EIFS doesn't age well and tends to cause redevelopment .sooner .than .higher quality building materials. The. EDC should look long-term on this issue. "! 3 Economic Development Commission Meeting Minutes May 26, 2009 Chair Matasosky added that he would like business owners and builders included in these discussions. Businesses in the. Airlake Industrial Park wouldn't -like it if they were told they couldn't build their buildings today. Ex-officio Member Bornhauser asked what is causing this issue to be looked at. Mr. Licht referred to the bullet points at the beginning of the PowerPoint presentation and to the memorandum included in the EDC packet: "...The proposed revisions to the exterior building finish standards have been initiated in response to comments expressed. by residents during the 1998 Comprehensive Plan, .2000 Zoning Ordinance update and the 2008 Comprehensive Land Use Plan update regarding the quality of new commercial and industrial buildings. Staff also received Jnput from current and past members of the City Council and .Planning Commission indicating an increased need for improved exterior building finishes in' commercial and industrial areas as well as input from developers and builders with concerns regarding the .long term durability of specific building materials such as ElFS that have become common in commercial and industrial construction... " Ex-officio Member Bornhauser asked if there .are any records of complaints of the quality of commercial and industrial development in Lakeville. Mr. Licht responded that this is part of a continual reevaluation of the zoning ordinance done in conjunction with the 10-year Comp. Plan update. Ex-officio Member Bornhauser indicated that he hasn't heard these complaints or concerns and questioned the driving factors behind analyzing this at this time. Mr. Kuennen responded that staff received several verbal comments at the Comp. Plan open houses. >Comm~nts were also made as to why Lakeville wasn't getting the quality of development seen in other cities around the. Twin Cities.. The City currenthy has no leverage other. than the PUD process to encourage higher quality development. Mr. Licht added that;vvith residential development moving south and getting closer to .the industrial areas of Lakeville, this is becoming a growing concern for the residents of these new housing developments. Mr. Mielke asked about the current zoning ordinance versus the proposed changes and what the key differences are. Mr. Licht responded and added that the table in the handout could be expanded to show more of this information. 4 Economic Development Commission Meeting Minutes May 26, 2009 Mr. Mielke added that the commercial and industrial requirements are very different and that there is no rush to get this through the City process. More information will be gathered and presented before this .moves. on to the City Council for a formal decision. Chair. Matasosky concurred that more information for both the business. community and the Chamber of Commerce would be helpful. Mr. Kuennen noted that as part of .the proposed performance standards there is an allowance for a conditional use permit (CUP) to deviate from the requirements. This flexibility-isn't included in some of the other cities' current ordinances. Chair Matasosky asked what the process would be for a building such as Wausau Supply if they wanted to double the size of their building. Mr. Licht responded that they would need a CUP for the<building addition. Mr. Olson added that Cloverleaf Cold Storage was given a CUP for their expansion because they utilized a metal wall material that exceeded the allowances of the zoning ordinance. The EDC agreed that. more information and discussion. on this topic would be required for the June meeting before making a recommendation. Mayor Dahl added that the_ City Council wants to make sure this .information is discussed and fully understood by all interested parties.. Comm. Emond asked if opinions from the businesses in the industrial park-could be gathered. Mr. Mielke suggested an open house format meeting to obtain opinions from interested parties. This is the same type of process used for road projects and other types of planning projects. Comm. Brantfy stated that a clear understanding and definition of the language used is the .key for the proposed changes. Chair Matasosky added that he would like to understand the. process for granting CUPs and what the criteria would be in deciding when they are granted. Mr, Mielke suggested separating the proposed commercial building finish changes from the proposed industrial building finish changes for the upcoming discussions. 5 Economic Development Commission Meeting Minutes May 26, 2009 4. .Introduction of New EDC Member Chair Matasosky introduced the newly appointed EDC member Sheila Longie. Introductions were made and Comm. Longie .discussed her background and experience. Comm. Longie stated in regards to the proposed zoning ordinance .updates, people don't tend to be as concerned about the look of buildings in the industrial park. if anything, maybe some design work could be done around the entrances to the park as not too many people actually drive through the industrial parks that don't work there. Mr. Mielke added that most of the concerns received are regarding the commercial developments in Lakeville. 5. Review of Commercial/Industrial Property Tax Comparisons Mr. Olson gave an update on how commercial and industrial taxes in Lakeville compare to surrounding communities on a hypothetical $1,000,000 building. This in response to the EDC's request for "snapshots" of data. regarding business taxes in Lakeville. Mr. Olson added that the Dakota Coumy tax estimator tool is a good resource for exploring tax rates in Dakota County. Comm. Schubert noted that her business has realized a significantly higher value and taxes over the past year. Ex-officio Member Bornhauser mentioned >the appeals process and noted that there have been some successes in appealing newly assigned values. Mr. Mielke added that he was surprised how little difference there was between taxing jurisdictions and noted that taxes may not be a defining. factor in business location decisions. Ex-officio Member Bornhauser stated that it often isn't just a single factor, but a summation of factors that is attributed to a business's location decision. Mr. Mielke added that in comparing Lakeville to Faribault, Lakeville being unable to use the. JOBZ tax program is a major difference in Lakeville being able to be competitive with greater Minnesota communities. 6. Director's Report Mr. Olson reviewed the Director's Report. .~ 6 Economic Development Commission Meeting Minutes May 2&, 2009 7. Adjourn The meeting was adjourned at 6:25 p.m. Respectfully submitted by: Attested to: Adam Kienberger, R. T. Brantly, Secretary Economic Development Specialist 7 Item No. ~ Memorandum To: From: Copy: Date: Economic Development Commission Daryl Morey, Planning Director /~ Allyn Kuennen, Associate Planner ~'° -City of Lakeville Planning Department David L. Olson, Community & Economic Development Director June 25, 2009 Subject: Packet Material for the June 30, 2009 Economic Development Commission Meeting. At the May 26th Economic Development Commission meeting staff presented the proposed changes to the exterior building finish standards for commercial and industrial zoning districts (Section 11-17-9 of the Zoning Ordinance) which are being considered with the overall Zoning Ordinance update. The Economic Development .Commission requested clarification on several aspects of the proposed exterior building finish standards. The Economic. Development Commission. requested staff prepare a comparison showing how the existing exterior building finish standards compared with the proposed standards. The attached table summarizes the current and proposed standards for commercial and industrial developments. The Economic Development Commission also requested staff indicate how the proposed regulations will affect future additions to existing industrial buildings such as Ryt-way Industries or Wausau Supply. In general, the proposed standards require commercial and industrial buildings to be constructed of the same materials, brick, stone, textured block, architecturally precast concrete panels, stucco, etc, as the current standards. However, the new standards include a percentage requirement for these materials to ensure a balanced mix and variation of exterior building materials. The proposed exterior building finish standards include two significant revisions for industrial buildings. The first revision is in regard to the use of steel, aluminum or cor-ten siding. The current industrial exterior building finish standards require that any portion of the building adjacent to a residential district or public right of way must be finished with a minimum of 50% stone, brick or precast concrete panels. The remainder of the exterior of the building may be finished with steel, aluminum or cor-ten siding. The proposed exterior building finish standards recommend the elimination of steel, aluminum or cor-ten siding as an acceptable exterior building finish in the Industrial Districts. The second significant revision is in regard to future additions or expansions of existing industrial buildings. .The proposed exterior building finish standards include a .requirement that any addition to an existing facility that is larger than 50% of the .building must meet the proposed exterior building finish standards. For a building such as the Ryt-way Industries facility, which is constructed of integrally colored architectural precast concrete panels, this would mean little to no impact since the current integrally colored architectural precast concrete panels is an acceptable material as .proposed in the new standards. However, if a facility such as Wausau Supply, which has metal siding as the. primary exterior building finish, wanted to construct an addition to their building that was over 50% of the existing structure, the exterior building materials of the addition would need to be from Grades A, B, C and D which does not include metal siding. A property owner in this situation may apply for an exemption through the Conditional Use Permit process which would provide an opportunity for them to present their case to Planning .Commission and City Council to allow them to continue the use of metal siding with the addition. The Economic Development Commission also wanted to know what public input opportunities will be provided to property owners., businesses and stakeholders within the community to review and comment on the proposed revisions and what is the schedule for completing the update to the Zoning Ordinance. The City will be scheduling a meeting with the Chamber of Commerce this summer to review proposed revisions to the Zoning Ordinance. In addition, the City will be hosting open houses in late summer and early fall to provide opportunities for residents, property owners and the business community to review and comment on the overall Zoning and Subdivision Ordinance update. City staff will also continue to schedule work sessions with the City Council, Planning Commission and Economic Development Commission to review further revisions to the Zoning Ordinance. The City has provided a link on the City's web site for the proposed Zoning and Subdivision Ordinance update materials including Planning Commission work session and Economic Development Commission meeting minutes, staff memos, and associated information.- The web site .also includes an opportunity for those interested to sign up for email updates and meeting notices as well as an opportunity to email the City with comments and questions regarding the Zoning and Subdivision ordinance update.. Staff has added the members of the Economic Development Commission to the email notification list and the web page can be found on the City's web site at www.lakeviAe.mn.aov. All comments received from the Planning Commission, Economic Development Commission, Chamber of Commerce, business community, open houses, and the City's web site will be forwarded. to the City Council for their consideration. After the Planning Commission and City Council have reviewed the submitted...comments and the proposed revisions to the Zoning and Subdivision ordinances a public hearing will be scheduled for a Planning Commission meeting in early 2010. The recommendation from Planning Commission will then be sent to the City Council for final. consideration and adoption. Staff will be available at the June 30th Economic Development. 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S a Q ~ma m ~ o c n E ~ p m n p __ O Y) °) p p 9 W ~ c U ~+ _ L .,.. C p - C t v taa ~m ~ `o ... aoa°'~n . n a ami a m c m ° ~~N~ n a G al D £~ W c d -m ~m3$E - - _ W o m H m m N ~ 9 ~ L ~ N lM U i p Item No. ~. City of Lakeville Community and Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Steve Mielke, City Administrator Adam Kienberger, Economic Development Specialist Date: April 27, 2009 Subjects Proposed Land Sale /Business Subsidy to ImageTrend Inc. The City received the attached letter from ImageTrend a number ofmonths ago regarding the possible sale of a City-owned property adjacent to ImageTrend's current building located at 20855 Kensington Blvd. (see attached property location map). ImageTrend is a software development company that started in Lakeville in 1998 .with two employees and currently has over 100 full-time salaried employees in their 33,000 square foot building. ImageTrend is continuing to grow its business and create jobs at their facility in Lakeville and anticipates the need for additional space to house these employees in the future. As the attached concept plan indicates, ImageTrend has the ability to expand its existing building, however because of the fact that they are primarily an office type use, they will not be able to accommodate their off-street parking needs on site. As the concept plan also indicates, Phase II of ImageTrend's proposed expansion plans include an additional building on the City-owned property to accommodate their future growth. The City has not previously .marketed this property for development as it was designated as a future fire station site. The City recently determined that it will be feasible to construct a future fire station on the City-owned lot across the street that is also the site of the Fairfield Water Tower. Based on the feasibility of a fire station being able to be located on this property, staff recommends that the City owned parcel adjacent to ImageTrend can be made available for development. Previous .land sales in the Fai~eld Business Campus were written down to zero as an incentive for the :development to occur. This included the land for the current ImageTrend building that was developed by a different company. These land sales were also done for projects in which development of the lot was going to occur upon the sale of the lot. In this case, the development of the lot in question may not occur for several years. For this reason, staff is recommending that this property be sold to ImageTrend at market value which has been determined to be $627,589. This sale price was determined by the Assessor's Office Estimate Market Value for land for the adjacent existing ImageTrend and Advanced Wireless Communications properties with a slight discount to reflect the fact that approximately .80 of an acre of the City-owned parcel is encumbered with adrainage / ponding easement. Based on the proposed Contract for Private Sale that is currently being finalized by the City and ImageTrend, one third of the sale price would be due in cash at the time of closing. The. remaining amount of the sale price, $418,393, would be reduced by one half if ImageTrend completes an expansion of their current building or constructs a new building of between 20-30,000 square feet in size by November 30, 2011. The last half of the remaining amount of the sale price would be reduced to zero if ImageTrend constructs either the expansion of their existing building or a new building (to be determined by what was constructed in the first phase) of between 20-30,000 square feet by November 30, 2013. In addition, ImageTrend agrees to create a minimum of 21 new full-time jobs at minimum wage of $20 per hour plus benefits within two years of occupancy of the first expansion phase. ImageTrend also agrees to continue to operate at this location for a minimum of five years from the date of this benefit. In summary, ImageTrend will be required to construct a minimum of 50,000 SF of additional building by the end of 2013, create a minimum of 21 new fulltime jobs within two years of the date of benefit, and maintain their operations at this location for a minimum of five years. in exchange for the proposed subsidy of $418,393. In accordance with Minnesota Statutes, the City must conduct a public hearing before entering into a Business Subsidy Agreement. The City Council will conduct this public. hearing either at their second meeting in July or first meeting in August. The EDC has previously provided a recommendation to the City Council on proposed business subsidies prior to-the City Council acting on any proposed business subsidy agreements. Requested Action: Staff recommends that the EDC provide the City Council with a recommendation regarding the proposed subsidy on the sale of City-owned property to ImageTrend to facilitate building expansions totaling 50,000 square feet and the creation of a minimum of 21 new full-time jobs. September 30, 2008 David Olson Community & Economic Development Director City of Lakeville 20195. Holyoke Ave. Lakeville, MN 55044 Dave, I .hope this letter finds you well and productive. in your work. We here at ImageTrend, Inc. are starting to look out at 2009 and beyond.. We have had .another good year in business, our tenth `profitable year in business. This year INC. magazine ranked ImageTrend as the 1,491 fastest growing .business in the United States and. the 25"' fastest growing business in the Minnesota Metro Region.. This month we witl pickup another Minnesota Fast 50 award from Minnesota Business Monthly. 1 believe that will be our sixth Minnesota Fast 50 award.. In terms of real growth, we have grown to about 100 fulltime salaried employees here in Lakeville, 3 out of State and we are still hiring. l suspect that we will be adding another 24 in the next 12 months. We .are preparing plans to finish off more of the building as office and we are discussing additions to the building. We are also envisioning the need to begin long term plans for our next building. We would. very much like tha# second building to be here in Lakeville. At our historic growth rate we are perhaps three to four years from "move in" to a second office building, so we do feel the need to begin planning. The challenges are a suitable site and recruiting professional staff #o work herein Lakeville. To that end I would like to inquire if the City at some point might consider selling to us the parcel to the West of our offices or across the road from our office? Perhaps you might. have other ideas that we should be considering. Please do not hesitate to contact me if you think there might be possibilities to pursue. .Best Regards, ~~'c Mik Mc y ImageTrend, Inc. 20855 Kensington Blvd. Lakeville, MN 55044 Office: 952-469-1589 Fax: 952-985-5671 Cell: 612-598-6800 http://www. i m agetrend. com NOTE: THE EXISTING 31.200 SF BUILDING AT THE CURRENT OFFICE /WAREHOUSE RATIOS REQUIRES 139 PARKING STALLS. SITE STUDY A I —STORY BUILDINGS WITH ALL SURFACE PARKING 1 Af 1) I I 7 1 '1 I •`I a w i 1 1 I EAST SITE: 20,100 SF ADDITION I WEST SITE: 35,000 NEW BUILDING 1� 55.100 ADDITIONAL SF EXISTING EAST: 1 I 31.200 SF w 11 o l l 86,300 TOTAL SF r a r r ro I [b STALLS OR- STALLS 1 I 10 S 1T STALLS I II.gI 1 I 1 s�nr: nz.wyaal.ru�it, a. �f 40 16i STALLS tit: >}:rdi G, G %Rl4:::<iit s' IMAGE TREND SITE STUDIES ��r s 11 STALLS S i sue 2-2-2009 SCALE, r 100'-0' 50 0 200 100 0 100 Proposed Land Sale ;t ~~, yr~~"~ ~, :, ~- ~: ~r. ~, tae ~~ ~.~',~ ` ~ 3 ~ :-, ~~ ~"~' ~` .~r A r 5 *. _ ~ -- '~ $i _ a s .} ~ ~ . `~, _ _xm ,~ _ ~ C&t~f-OWf1E'C~ 7 ~1 !{}~ .~ ,~ . .- .. ~e_ .... _, ~ ~ , ~ 1 ti .. ~. ,., , - _ r.~ .~ i ~ _ >*.~5: .~ ~ `. ,_ ~ .t. ~ 'ar l ImaceT~e~d ~ .~~ ~~ ~ ~ ~ ~ `~ y ~I~_ Jay i ~ ~-~~, ' ~ .6\ '. •` +R. ~' i ..~ - - -- ~ .fib': ~, ~~: ~`~ .~ - ~~~,~` ~~+ ;q ~: ] ~t.~ N r ~:: ,. _ Disclaimer: Map and parcel data are believed to be accurate, but accuracy is not Map Scale guaranteed. This is not a legal document and should not be substituted for a title search, ~ inch = 200 feet appraisal, survey, or for zoning verification. Item No. ~. City of Lakeville ' y Community and Economic Development Memorandum To: Economic Development Commission From: Adam I<ienberger, Economic Development Specialist ,~ -Copy: Steven Mielke, City Administrator David L. Olson, Community & Economic Development Director Date: June 25, 2009 Subject: Business Retention Visits Summary As a part of the 2008-2010 Strategic Plan for Economic Development one of the goals under the strategic work area Partnerships includes Fop/ore opportunities to bui/d re/ationships As a result, a business retention visit program for the Lakeville business community was formulated. This program helps create and retain relationships between the City and both large and small businesses throughout Lakeville. On June 18, 2009, EDC member Glenn Stanfield, Mayor Dahl, and myself met with representatives from Menasha Packaging. Menasha is a leading provider of packaging and. merchandising solutions. They provide corrugated boxes, corrugated sheets, corrugated displays, and related packaging products. Menasha has been in Lakeville since 1969. They shared with us some valuable insights regarding their company and the local business climate. Overall the business visit was very. positive and Menasha stated that they are very satisfied with having their business in Lakeville. Menasha shared that they foresee some growth happening with their business but not substantial growth in the next three to five years. Their current facility is sufficient for their operations and has some room for them to grow here. They also noted that historically they have had. very good luck with finding quality employees in the Lakeville area. Turnover tends to be low and they don't see their current employment level of 191 full-time employees changing much. A couple of challenges Menasha shared with us include the occasional language barrier challenge from a growing English as a second language employment base, consolidation within the industry, and globalization. Menasha also mentioned that while from their perspective Lakeville is a business- friendly community, the State of Minnesota is becoming less competitive. The marketing and advertising messages from North and South Dakota are growing louder and becoming more appealing. A couple of key points Menasha made while discussing things that the City can do help improve the business community included: • Focus on infrastructure (County Road 70 is a big positive) • Keep Lakeville a desirable place for .people to move to; companies go to where employees are • .Education and along-term vision are important No follow-up on any specific issue was requested by Menasha at this time. Upcoming business visits have been scheduled with Con Agra and Despatch Industries.. Requests for volunteers for these upcoming visits will be sent out in the next couple of weeks. item No. ~. City of Lakeville ' ~ Community and Economic Development Memorandum To: Economic Development Commission From: ...David L. Olson, Community and Economic Development Director Copy: Steve Mielke, City Administrator Adam Kienberger, Economic Development Specialist Date: June 25, 2009 Subject: June Director's Report The following is the Director's Report for June of 2009. Building Permit Reuort The City issued building permits through May with a total valuation of $26,338,001. This compares to a total of $28,519,153 for the same period in 2008. Included in this valuation. were commercial and industrial permits with a total valuation through May of $1,398,500. This compares to a total commercial /industrial valuation of $6,205,900 for the same period in 2008. The City issued permits for 19 single family homes in May with a total valuation of $5,115,000. This compares to 13 single family home permits in May of 2008 with a total valuation of $3,248,000. The City issued a total of 40 new single family home permits through May compared to 56 during the dame period in 2008. The City issued permits for 0 townhome and condo units in May which compares to 0 townhome and condo permits issued in May of 2008. Development Update Construction was recently started on the Green Planet Car Wash in Heritage Commons located at Dodd Blvd. and Heritage Drive. This new concept in full-service car washes is being developed by Lakeville resident Richard Jackson. It will offer a tunnel type automatic car wash as well as several detail bays. This car wash is utilizing a system whereby nearly all of the water from the car wash .operations is re-claimed, treated and reused. Downtown Market Plaza /Ace Hardware Project. The dedication of the Market Plaza was held on Monday, June 15th with a number of EDC members in attendance. Mayor Dahl along with Mark Ulfers of the Dakota County CDA and Judy Tschumper of the Downtown Lakeville Business Association provided comments at the dedication. The first event was held in the Plaza two days later with the first Farmers Market this summer. The Farmers Market will continue every Wednesday from Noon until 5:00 p.m. through October 28t". Pan-O-Prog organizers are also planning for the events that will take place. in the Market Plaza during this celebration. Also on June 15t", the City Council granted final approval to the new Ace Hardware building to be constructed adjacent to the south side of Market Plaza. Construction is scheduled to commence on the nearly 16,000 square foot building in early July with completion expected to be sometime in November. Pioneer Plaza Planning Study The City has received approval of $30,000 in grant funds from the CDA to do a planning study of the Pioneer Plaza area in Downtown and the adjacent private and public parking lots west of Pioneer Plaza in the Ben Franklin block. The-first open house for adjacent property and business owners to provide input regarding this area is scheduled for Monday, June 29t" at 5:30 p.m. in City Hall. The goal is to complete the study by this Fall so that grant funds for possible improvements in this area can be applied for prior to the end of the year. Foreclosure Update Attached is the monthly update on foreclosures in Dakota County provided by the Dakota County CDA. There have .been 18 Sheriff Sales as a result of foreclosures in Lakeville in May. This is down slightly from April but comparable to the 17 Sheriff Sales in February and 19 in January. Possible Wider Distribution of the Director's Report A discussion took place at a recent Chamber of Commerce meeting at which Steve Mielke and Mayor Dahl were in attendance regarding the .possibility of providing my monthly Director's reports to Chamber members and other local business representatives. I would like to discuss this with the EDC to determine if this is something members feel would be beneficial and what type of content or format changes to the report may be required. a\ 0 o ;; N ~ N G. 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G N y ~" w - G v, O~ •n btiA vi :o ~ „ x c d ~ ~ ~~ o ~ a~ ~ ~ ~ ~ ~ ~ ~ ~ c ee ~ ay ~ vi a ° ~ ~ ~ as t~ ~ > ea ~,, c v ~ ,, 8. oq o~ c , ~~ ..' ~ a: ~ a, v~ x ~ cn .., a3 ~ ... y o U .., o .., y ~ „ .+ b ~ ~ ~ c`d ~ v a`ai ~ ~ `~ d ~ ~ b ~ ~ m ~ ,~. pN„ ~ eo ~ ~ 3 p ~ ` •~ ~ a3i ~ A a'"i ~ - ~ y ~ ~ ~ U w C7 C7 x x S~ x~ ~ a Q U U S a ~ ci; X 3 3 ~ ~ U A d a v~ vi ~ ~ a H ~ ~~ a v~ O O O O O O O O O O O O O O O O O O O O O O O O C C O ~D o0 M O O oo d- ~ ~ O O O C C C O O O O O O C C C O v~ ...i O O O O O O C C O [~ d' o0 ~ ~ .-+ N (~ O~ l1~ ~O H T N ~O N eri O O O M .-i O ~~, ° a o °~ C7 o w, bA a~ ti ~ w ~ ~ ~ D C d d w ca F N Dakota County ~~~''`~ ~ ~~ ~ 1 ~' Community'bevelopment Agency - ~'1 ~~~~.~'L~i To: Dakota County Cities From: Dan Rogness, Director of Community Revitalization Date: June 16, 2009 Re: Foreclosure Update So far in 2009, you may have noticed that Sheriff Sale numbers generally have been lower than the same time-period in 2008. The following chart compares Sheriff Sale numbers by month -with the year-to-year percent change: Month Number of Sheriff Sales (2008) Number of Sheriff Sales (2009) Percent change from 2008 January 228 141 - 38 February 168 172 + 2 March 156 84 - 46 April 172 126 - 27 May 206 164 - 20 It is important to note that this data may not be a clear indicator of the status of the foreclosure situation. After the launch of the federal plan, Making Home Affordable, various foreclosure moratoriums were implemented while program application and evaluation procedures were being developed. Certain Making Home Affordable guidelines also require temporary suspension of foreclosure proceedings while a borrower is being evaluated for the plan. More information is available. at: https://www.efan n iemae.com/sf/gui desJs~/an nltrs/pdf/2009/0905.~df. In addition, the CDA has seen that Notice of Pendency filings have increased in 2009 from the same time-period in 2008. In 2008 from January through May, 1,145 Notices of Pendency were_ filed, whereas 1,637 Notices of Pendency have been filed from January through May in 2009 - an increase of almost 43 percent. Although Sheriff Sale numbers have decreased, mortgage defaults continue to be a problem in Dakota County. Dakota County ~ ~ ~ E Community :Development Agency ~'?~`~,~~.t~',"j~l~i .................... ,~~ F-~~ Dakota County Stats -May 2009 • # of Sheriff Sales in May - 164 (compared to 206 in May 2008) • Total Sheriff Sales for 2009 - 692 (compared to 930 Jan.-May, 2008) • # of Notices of Pendency filed in May - 324 • Total Notices of Pendency Filed for 2009 - 1,637 A Notice of Pendency is filed by a mortgage company's attorney as official notification that the foreclosure process has begun. Not all of these result in sheriff sales. Pages 3 and 4 of this PDF file have Sheriff Sale and .Notice of Pendency statistics for each city. Mapping Using Dakota County GIS http://gis.co.dakota. m n.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the 2009 Foreclosures and Notice of Pendency layers on a monthly basis. If you need assistance using this Web page, please call -Randy Knippel or Mary Hagerman with the Office of GIS at (952) 891-7081. In The News Provided in this PDF file are a few notable foreclosure articles that were published in the last month. Among the points of interest: • The housing bottom seems to be in sight, but other factors signal that a recovery will not be made until spring 2010.. • As job losses rise, growing numbers of American homeowners are falling. behind on their mortgage payments, intensifying the current foreclosure situation. Sixty percent of mortgage defaults this year are- predicted to be set-off by unemployment - up from 29 percent last year. • Homeowners need to be wary of "foreclosure rescue" organizations and individuals - even those that seem legitimate may be scams. Mortgage fraud cases are up 400 percent from five years ago, If you have any other concerns, please call me at (651) 675-4464 or send. me an e- mail at drognessCc~dakotacdastate.mn.us. r "~ .~. ~~ 2 ~., ~'~' - t~ r. ~ ~ ~' ~ ~ I ~• U • _C ~ ~ • Q .,~ • c• C • • Q a O >, ~ • C' ~' O~=• V ~ • ~ C • ~ U • Q U O~ O N w O ~ ~ ~ ~ H ~ ~ ~ to u ~ ~ ~ LL {H O O ~ _ h ~ ~ N CO ~ N ~ ~ ~ h h M ,Q O N N N N - - - N - - - N O O M a~ N ~ h .G ~ r~ O nn O o0 M N mil' O ~n h N CO N Q N _, - v a~ O Z u 0 N b4 Q 3 ~1 N M N ~ h d' ~ N h ~ 4T _ ~ p, a h - M N ~- - h = 00 ('V O O O ~ ~ ~ N ~!' d., M _ ~p ~A V1 O ~' to ep M 00 ~ LL - N O M ~D N 111 N ~ _ h O N O ~ ~ - ^ N N N ~ h ~ ~ - ~ - - C N ~ ~ .~ _ _y ~ _ _ ~ > d0 .~ _ ~ ('d ~ ~ to °' u ~ •> o ~ aq ~ ~ +~+ c O y a N ~ V J ~ i _ . '^ ~ Q Q m b.0 W i LL ~ = > = Y J d ~ ~ 1% ~ 3 {A O N d u .~ N N C V N C C U~ a ~n s ~ aLi = .o 3 "' o " d- ~ ~ = o N Q 0 td V$ a~ ~ a a, Y ~ ev O ~ A C O ~ f~ N ~ > O c a~ 0 E L ~.~ ` °~ ~ o N • ~~ ~ `~ _~ ~. 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LL ~ _ / = Y J TII f~ ~O/ ii ~/O~ Yl \ S ~/~~ Y/ OL r c N L N H L L ~ ~ ~ ~ O `~ ~~ o. ~ ~V Z .~ 3 b4 ~ O N ~ [~ t y R! d ~ U L ~ ~ ~' L N d i ~ 7 N ~ ~ ~ L °U ~ N L -~ y~ L ~ ~ S V ~ ~ C ~ o ~~, u ~ w ~ o o a C ~ ~ ~ 'u ~ 0 oU ~ O ~ Y ca L ~ ~ ~• y '~ bQ ~ ~ «t ._ ~ ~ O c~~i C! ~ N C b~4 ~ O "- ~ O ev u .~ ~ O N Z c«- O d 'p ~ ~ N C ~ ~ R1 a o -° N 3 ~z ~, N 0 Z L N r ~ O Z H d V .~ N C '~ N U~ d N ~ d ~O 3 ~ O `'' ~ . ~ u 2 O N Q o ~ ~ V~ a~ ~,,, O ++ Y ~ `v O ~ fa c O ~ fcd N_ C ~ c N O L O Housing bottom in sight, but new starts drop, signaling no recovery until spring 2010 - T.. TwinCities•com Page 1 of 2 Housing bottom in sight, but new starts drop, signaling no recovery until spring 2010 By Martin Cru#singer Associated Press Updated: 45119!2009 10:14:22 PM GDT WASHINGTON -Single-family home construction posted a modest rebound in April, raising hopes that the three-year slide in housing is leveling off. But a bulging supply of unsold homes, record levels of foreclosures and still-falling home prices suggest a sustained recovery isn't likely until next spring at the earliest. The Commerce Department said construction of homes and apartments fell 12.8 percent last month to a seasonally adjusted annual rate of 458,000 units. That's the lowest pace on records going back a half-century. Applications for new building permits dropped 3.3 percent to an annual rate of 494,000, also a record low. "I think we have probably reached the low point for this housing crash, but I don't expect us to come roaring back," said Mark Zandi, chief economist at Moody's Economy.com . "I think it will take another year for a recovery in housing to get going." All of last month's weakness came in the volatile multifamily part. of construction. By contrast, single- family construction and permits both rose, which economists took as a hopeful sign that this bigger sector of home construction was stabilizing. That would be crucial for the broader economy. The recession -the longest since the Great Depression -was triggered by a collapse in the housing market that led to soaring loan losses and a grave crisis for the banking system. A healthy home market is needed to feed. an economic recovery. Many economists say home construction likely will stop falling in the current quarter. But any rebound isn't expected to take. hold until next spring,. and even then it is likely to be slow. The reasons are the huge overhang of unsold homes, a wave of mortgage foreclosures and persistent job losses. With foreclosures and other distressed properties for sale at deep discounts, builders often can't compete. Rather than launching new developments, they are waiting for signs of a broader recovery. The median price of a new home sold in March was $201,400 -down 23 percent from a peak of $262,600 two years earlier. The median price is the midpoint, which means half the homes sold for more and half for less. The supply of unsold existing homes at the end of March fell 1.6 percent from a month earlier to 3.7 million, according to the National Association of Realtors, but still remained at elevated levels. With sales sluggish, it would take nearly 10 months to rid the market of those properties, compared with about 6.5 months in 2006, according to the Realtors data. The government report Tuesday showed construction of single-family homes-rose 2.8 percent in April to an annual rate of 368,000. That followed a 0.3 percent gain in March and no change in February. Building permits for single-family homes rose 3.6 http://www.twincities.com/business/ci_12407093 Prin* P~i~-«Yec~ C-i.~ ~~t.~~ 5/20/2009 Housing bottom in sight, but new starts drop, signaling no recovery until spring 2010 - T... Page 2 of 2 ^ ~ ^ ~~ _- percent to a rate of 373,000 last month. Multifamily construction plunged 46.1 percent to an annual rate of 90,000 units after a 23 percent fall in March. Permits for multifamily construction dropped 19.9 percent to 121,000 units. J ~ri;~T ~i~wer~~ ~~, ~ _ . F ~~t ~ . http://www.twincities.com/business/ci_12407093 5/20/2009 NYT: Good mortgages growing foreclosure risk -The New York Times Page 1 of 3 ~~' MSNBC.com NYT: Good mortgages growing foreclosure risk Homeowners with good credit, standard loans, hurt by job fosses By Peter S. Goodman and Jack Healy The New York Times updated 11:31 a.m. ET, Mon., May 25, 2009 As job losses rise, growing numbers of American homeowners with once solid credit are falling behind on their mortgages, amplifying a wave of foreclosures. In the latest phase of the nation's real estate disaster, the locus of trouble has shifted from subprime loans - those extended to home buyers with troubled credit- to the far more numerous prime loans issued to those with decent financial histories. With many economists anticipating that the unemployment rate will rise into the double digits from .its current 8.9 percent, foreclosures are expected to accelerate. That could exacerbate bank losses, adding pressure to the financiaf system and the broader economy. "We're about to have a big problem," said Morris A. Davis, a real estate expert at the University of Wisconsin. "Foreclosures were bad last year? It's going to get worse." Economists refer to the current surge of foreclosures as the third wave, distinct from the initial spike when speculators gave up property because of plunging real estate prices, and the secondary shock, when borrowers' introductory interest rates expired and were .reset higher. "We're right in the middle of this third wave, and it's intensifying," said Mark Zandi, chief economist at Moody's Economy.com. "That loss of jobs and loss of overtime hours and being forced from afull-time to part- time job is resulting in defaults. They're coast to coast." Those sliding into foreclosure today are more likely to be modest borrowers whose loans fit their income than the consumers of exotically lenient mortgages that formerly typified the crisis. Economy.com expects that 60 percent of the mortgage defaults this year will be set-off primarily by unemployment, up from 29 percent last year. Robert and Kay Richards live in the center of this trend. In 2006, they took a 30-year, fixed-rate mortgage - a prime loan.- borrowing $172,000 to buy a prefabricated house. They erected the building on land they owned in the northern Minnesota town of Babbitt, clearing the terrain of pine trees with their own hands. Mr. Richards worked as a truck driver, hauling timber from a nearby mill. His wife oversaw the books. Together, they brought in about $70,000 ayear -enough to make their monthly mortgage payments of $1,300 while raising their two boys, now 11 and 16. But their truck driving business collapsed last year when the mill closed. Mr. Richards has since worked occasional stints for local trucking companies. His wife has failed to find clerical work. "Every month that goes by, you get a little further behind," Mr. Richards said. Last June., they missed their first payment, and they have since slipped $10,000 into arrears. They are trying to persuade their bank to cut their payments ahead of a foreclosure sale. From November to February, the number of prime mortgages that were delinquent at least 90 days, were in foreclosure or had deteriorated to the point that the lender took possession of the home increased more than 473,000, exceeding 1.5 million, according to a New York Times analysis of data provided by First American CoreLogic, a real estate research group. Those loans totaled more than $224 billion. http://www.msnbc.msn.com/id/30929173/page/2/printl l/displaymode/1098/ 5/27/2009 NYT: Good mortgages growing foreclosure risk -The New York Times Page 2 of 3 During the same period, subprime mortgages in those three categories increased by fewer than 14,000, reaching 1.65 million. The number of similarly troubled Alt-A loans -those given to people with slightly tainted credit -rose 159,000, to 836,000. Over all, more than four million loans worth $717 billion were in the three distressed categories in February, a jump of more than 60 percent in dollar terms compared with a year earlier. Under a program announced in February by the Obama administration, the government is to spend $75 billion on incentives for mortgage servicing companies that reduce payments for troubled homeowners. The Treasury Department says the program will spare as many as four million homeowners from foreclosure. But three months after the program was announced, a Treasury spokeswoman, Jenni Engebretsen, estimated the number of loans that have been modified at "more than 10,000 but fewer than 55,000." In the first two months of the year alone, another 313,000 mortgages landed in foreclosure or became delinquent at least 90 days, according to First American CoreLogic. "I don't think there's any chance of government measures making more than a small dent," said Alan Ruskin, chief international strategist at RBS Greenwich Capital Last year, foreclosures expanded sharply as the economy shed an average of 256,000 jobs each month. Since then, the job market has deteriorated further,. with an average of 665,000 jobs vanishing each month. Each foreclosure costs lenders $50,000, according to data cited in a 2006 study by the .Federal Reserve Bank of Chicago, so an additional two million foreclosures could mean $100 billion in lender losses. The government's recent stress-tests of banks concluded that the nation's 19 largest could be forced to write off as much as a fresh $600 billion by the end of 2010, bringing their total losses to $1 trillion. The Federal Reserve concluded that these banks needed to raise another $75 billion. Many economists pronounce that assessment reasonable, while cautioning that it could become inadequate if foreclosures continue to accelerate. "The margin for error is not that big," said Brian Bethune, chief United States financial economist for HIS Global Insight. "It's kind of like, `Let's keep our fingers crossed that we've seen the worst."' Among prime borrowers, foreclosure rates have been growing fastest in states with particularly high unemployment. In California, for example, the unemployment rate rose to 11.2 percent from 6.4 percent for the year that ended in March, while the foreclosure rate for prime mortgages nearly tripled, reaching 1.81 percent. Even states seemingly removed from the real estate bubble are seeing foreclosures accelerate as the recession grinds on. in Minnesota, three of every five people seeking foreclosure counseling now have a prime loan, according to the nonprofit Minnesota Home Ownership Center. In Woodbury, Minn., Rick and Christine Sellman are struggling to persuade their bank to reduce their $2,200 monthly mortgage on their five-bedroom home. Mr. Sellman, a construction worker, found some work putting in asphalt driveways last summer, but he is now receiving unemployment. Ms. Sellman's scrapbooking businesses shutdown last summer. Since then, they have slipped $19,000 behind on their mortgage. -, "We were always up on our house payments," Ms. Sellman said. "You work so hard to keep what you have, and because of circumstances beyond our control now, there's nothing we can do about it." http://www.msnbc.msn.com/id/30929173/page/2/print/1/displaymode/1098/ 5/27/2009 NYT: Good mortgages growing foreclosure risk -The New York Times Page 3 of 3 This article, "Job Losses Push Safer Mortgages to Foreclosure, "originally appeared in The New York Times. Copyright ©2009 The New York Times URL: http:%/www.msnbc.msn.cs~m/id30929173!pagei2i MSN Privacy .Legal © 2009 MSNBC.com http://www.msnbc.msn. com/id/30929173/page/2/print/ 1 /displaymode/ 1098/ 5/27/2009 Mortgage seams increase as foreclosures rise -Mortgage Mess Page 1 of 2 ,`°~~ MSNBC.com Mortgage scams increase as foreclasures rise FBI seeing a 400 percent increase in claims over afive-year span The Associated Press updated 6:57 a.m. ET, Thurs., May 28, 2009 NEW YORK -The letter may look like a government form. The logo may seem official. The Web site address may sound like an agency that can help. But there's a good chance it may all be a scam. The ongoing mortgage foreclosure crisis has sparked a cottage industry of so-called "foreclosure rescue" companies. But advocates and government officials warn that a significant number are little more than fraudulent operations designed to separate distressed homeowners from their money, and sometimes their houses as well. "They prey upon the financially unsophisticated," said Gail Cunningham of the National Foundation for Credit Counseling. "Anyone can easily fall victim to such scams. When you're hurting, we may all become financially unsophisticated.." Many of these companies have popped up as the mortgage meltdown accelerated, said Gary Almond of the Better Business Bureau in Los Angeles, one of the areas hardest hit by the housing crisis. "As the degradation in the market progressed, more (companies) got on the bandwagon," he said. Because of the role the mortgage industry plays in the nation's economy and the types of crimes mortgage fraud represents, these companies have even drawn scrutiny from the FBI. The feds currently have nearly 2,350 mortgage fraud cases, up almost 400 percent from five years ago. "With people losing homes, you're at your most vulnerable," said Roscoe Howard, a Treasury Department spokesman. "It's a lot like being a poor swimmer and being thrown into a lake, you're going to reach for whatever you can." Even for wary consumers, it may be hard to tell if the line being thrown by a company will sink you A letter sent out earlier this month by Bridgewater, N.J.-based Financial Solutions Today LLC is a good: example of the difficulty assessing a company. The letter is designed to resemble a W-2 or other form from the Internal Revenue Service, with boxes across the top and a similar typeface. It suggests the recipient "may be eligible for a special modification program according to guidelines created in conjunction with the Government Stimulus Program HR 1106: Helping Families Save Their Home Act." The bill that bore that number in the House of Representatives actually used the plural "Homes" in its title, a subtle misspelling that consumer advocates say is the type of thing that should be a red flag for recipients. The letter also states "only an attorney or licensed debt adjuster can legally represent a borrower for a mortgage modification." That's not true, said Dan Crevina, director of operations and marketing at the BBB of New Jersey. "There's no need to have representation to call the bank," he said. "They're going to do the same thing that the consumer can." Financial Solutions Today President Frank Riccio said theletter in question was changed, although he claimed the modification took place weeks before the copy obtained by The Associated Press was received. "That was just an overflow," he said. "I don't like the way it looks." http:!/www.msnbc.msn.com/id/30971053/page/2{print/ l /displaymode/1098/ 5/28/2009 Mortgage scams increase as foreclosures rise -Mortgage Mess Page 2 of 2 Riccio declined to discuss his business practices beyond the letter and did not return follow-up calls. Yet Financial Solutions Today, which also does business as Home Rescue Today LLC, is accredited by the BBB. That means it was reviewed by the consumer watchdog and pledged to "abide by a set of ethical standards for marketplace conduct," according to the BBB Web site. The BBB has received only one complaint against the company, which Crevina said was about seam e-mails, and was resolved. One comment in the Financial Solutions letter even echoes the advice from advocates and government agencies when consumers are considering turning to a private company for help: "Beware of companies that ask you to pay for services upfront." Nonprofit agencies that are working with government programs to help homeowners in danger of foreclosure don't charge for the services they offer, and some states prohibit lenders from charging fees in advance of providing services. Homeowners can call the federal government's Hope Now program at 888-995-HOPE, or visit the program's Web site to find: legitimate assistance. The site has a calendar of free events around the country where help is available on site, and lists approved nonprofit counseling agencies nationwide that offer free help. Details about government programs and counseling referrals are also available here. The companies operating scams .use a variety of ways to find their targets. Besides advertising heavily, they also search public records for default notices or mortgages written in the last few years by banks known to issue risky loans, and then send letters or make calls to those addresses, Last month, the FTC filed lawsuits against five companies as part of a crackdown on mortgage modification and foreclosure .rescue scams, the latest in a series of suits aimed at such swindlers. One of those companies, Federal Loan Modification Law Center LLP, generated 168 complaints to the BBB office in LA. The FTC said these companies touted so-called guarantees and high success .rates to mislead consumers about their services; charge upfront fees that legitimate nonprofit organizations do not charge; and use copycat names or look-alike Web sites to appear to be a nonprofit or government entity. The agency also sent warning letters to 71 other firms "that are marketing potentially deceptive mortgage modification and foreclosure assistance programs." It would not identify those companies. Some would no doubt be familiar to Crevina at the New Jersey BBB. He's dealt with at least a dozen companies that stopped answering BBB inquiries, and he now simply refers new complaints about them to enforcement agencies. "There are certain names that I hear and I know automatically how we're going to end up handling it," he said. "And the list is growing." Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. URL: http:/,~`ww~u.msnbc.znsn.cam,~`iJ30971053/page/2l MSN Privacy .Legal © 2009 MSNBC.com http://www.msnbc.msn.com/id/30971053/page/2/print/1/displayrnode/1098/ 5/28/2009 Page 1 of 3 Olson, David From: MN Department of Employment & Economic Development [StateOfM innesota@ngvnrrtail.des.state. mn. us] -Sent: Thursday, June 18, 2009 8:23 AM To: Olson,. David Subject: 6.18.09 May Employment Figures i~ou canr}ot read this ,r. ~ For Immediate Release Contact: Kirsten Morell, 651-259-7161 .June 18, 2009 Kirsten.Morell(cr~state.mn.us Employers cut 1,600 jobs in May; smallest job loss in nine months State jobless rate edges up slightly to 8.2 percent ST. PAUL -Minnesota employers cut 1,600 jobs in May, the smallest monthlyloss since August 2008, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). Over the past year, the state has lost 3.4 percent of its. jobs, compared with job cuts nationwide of 4 percent. The Minnesota unemployment rate edged up slightly from 8 percent in April to a seasonally adjusted 8.2 percent in May. The U.S. rate for May was 9.4 percent. "It is not yet clear if we have reached a turning point in our economic recovery, but there are some optimistic signs," said DEED Commissioner Dan McElroy. "We are encouraged that the unemployment rate has held steady in recent months and that the pace of job losses appears to be slowing." For the first time in two years, the construction sector added jobs, mainly because of new employment in highway construction and specialty trades. Construction gained 900 jobs during the month. Other sectors that added jobs were leisure and hospitality (up 7,100), government (up 800), financial activities (up 200), and education and health services (up 100). One sector, other-services, held steady. Job losses in May occurred in trade, transportation and utilities (down 7,000), manufacturing (down 2,100), information (down 700), logging and mining (down 600), and professional and business. services (down 300}. 06/18/2009 Page 2 of 3 Over the past year, education and health services gained 19,700 jobs, while government added 2,600 jobs. Job losses occurred over the past 12 months in manufacturing (down 34,800), professional and business services (down 30,600), trade, transportation and utilities (down 24,500), construction (down 1.6,500), leisure and hospitality (down 4,900), other services (down 2,100), information (down 1,800), financial activities (down 1,700), and logging and mining (down 1,300). In the state's Metropolitan Statistical. Areas, over-the-year job losses occurred in the Minneapolis-St. Paul MSA (down 3.5 percent), Duluth-Superior MSA (down 3.7 percent), St. Cloud MSA (down 1.3 percent) and Rochester MSA (down 0.3 percent). _ Further details are available at www.PositivelyMinnesota.com . Seasonally adjusted Not seasonally adjusted Unemployment Rate May 2009 April 2009 Minnesota 8.2 8.0 U.S. 9.4 8.9 Employment May 2009 April 2009 May `08-May X09 Level Chan a May `08-May X09 .Percent Chan e Minnesota 2,667,500 2;669,100 -96,000 -3.4 U.S. 132,151,000 132,496 000 -5,523 000 -4.0 Over The Year Em to ent Growth B Indus .Sector SA OTY Job Chan e OTY Growth Rate % U.S. OTY Growth Rate Total Non-Farm Em to ent -96,000 -3.4 -4.0 Lo in and Minin -1,300 -20.6 -5.2 Construction -16,500 -14.3 -13.9 Manufacturin -34,800 -10.3 -11.8 Trade, Trans. and Utilities -24,500 -4.7 -4.6 Information -1,800 -3.1 -5.1 Financial Activities -1,700 -0.9 -5.1 Prof. & Business Services -30,600 -9.3 -6.6 Ed. and Health Services 19,700 4.5 2.3 Leisure and Hos itali -4,900 -1.9 -2.5 Other Services -2,100 -1.8 -2.2 Government 2,600 0.6 0.6 Metro olitan Statistical Area OTY Employment Chan e # NSA OTY Employment Chan e % NSA Minnea olis-St. Paul MN-WI MSA -62,400 -3.5 06/18/2009 - Page 3 of 3 Duluth-Su erior MN -WI MSA -5,000 -3.7 Rochester MSA -400 -0:3 St. Cloud MSA -1,300 -1.3 Mankato-North Mankato MSA Data available in 2010 Notes: • .All labor force data are subject to revision. • The unemployment rate is the percentage of people actively seeking work compared with those in the labor force (employed plus unemployed). -3D- Upon request, the information in this news release is available in an alternative format such as Braille, large print, audiotape or computer disk. This message was sent to Jolson@ci.fakeville.mn.us by: M.N ...D.....ep~rtme..n....t.._of.._.E.....m~lo.Xmena.&....E.con:om.c........Developmena (Monte.,.ha_n..s...o.n~state.mn_us} 332 Minnesota Street Suite E200 St. Paul, MN 551(}1-1351 • 800-557-3858 Subscribe • Unsubscribe 06/18/2009