Business Retention and Development Committee Agenda and Packet 2014 03 03

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Business Retention & Development Committee Meeting Minutes February 3, 2014 Page 2 of 3 RETAIL RECURITMENT STRATEGY: Economic Development Director Aaron DeJong began a discussion related to holding a Retail Broker roundtable to discuss what resources and information brokers feel the City could provide to bring retail tenants to vacant space. DeJong provided a list of questions in the BRaD packet and opened the discussion to the Committee by asking for other questions for the proposed roundtable. Councilmember Jasiak: What would you like to see on our website? Commissioner Tienken: What are the 2 or 3 most important client needs? Commissioner Menaker would like a professionally designed downloadable brochure on the website. Councilmember Jasiak asked if word of mouth, successful local businesses could bring people in; “warm-calling.” Commissioner Reichenberg said the roundtable is an educational forum. The question to be asked is what does the market say it needs? and respond to the answer. The decision will have to be made to respond. Brokers will understand the trends and the City will have to decide if it wants to fit the profile and align the City with what developers need. Mike Kranzdorf said the best use of DeJong’s time is to get to know the brokers who are looking in this area. Commissioner Lathrop said to consider bringing destination businesses that we don’t already have, for example a jeweler. What businesses would we like that we don’t already have? Commissioner Angell stated that we need both “mom and pop” and large employers. Commissioner Menaker said a good strategy would be to get together with Superior and market the McCaslin/US36 interchange with a revenue sharing agreement. DeJong will work with Commissioner Reichenberg on scheduling the roundtable. DeJong would like to keep the meeting’s perspective focused on the main retail corridors of town. Commissioner Lathrop suggested using the last 15 minutes of the roundtable to develop an action plan the attendees can have input on. Commissioner Menaker suggested two processes: Sell what is available today o Identify strengths, weaknesses, opportunities and threats o Chair Dalton would like to develop a long term strategy, looking 10 years out. RETENTION MEETINGS: DeJong and Commissioner Menaker went to North Main Apartments. The apartments are very popular; of the 92 units only 8 are vacant. There are not many families with children. They have very nice amenities. Commissioner Menaker noted that it would be good to take Planning Commission and City Council on a tour after full build out so they can see what they really look like vs. what was on paper (the PUD). Commissioner Lathrop agreed with that noting it looks much more dense than he expected. He also noted that the construction crew has been very responsive in keeping the area clean. 3