EDA Minutes 05-08-2013 (Special Meeting)MINUTES
SPECIAL MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
May 8, 2013 - 5 p.m. — Mississippi Room
Commissioners Present: Bill Demeules, Bill Tapper, Tracy Hinz, Rod Dragsten, Tom
Perrault
Commissioners Absent: Matt Frie, Brian Stumpf
Others: Jeff O'Neill, Angela Schumann, Wayne Oberg, Clint Herbst, Glen
Posusta, Brad Fyle, Joni Pawelk, Brett Weiss, Brian Bourassa, John
Uphoff, Steve Johnson, 011ie Koropchak, Charles Bush
1. Call to Order
Bill Demeules called the special EDA meeting to order at 5 p.m.
2. Purpose
The purpose of the special EDA meeting is to learn more about WSB's Market Matching
proposal.
3. Consideration to review WSB Economic Development Services Proposal — Market
Matching
Jeff O'Neill acknowledged the contributions of those who've enabled local economic
development projects to move forward over the years. He applauded staff's ability to close
deals and proactively assist a prospect from initial interest to a completed development.
He indicated, however, that the City's past approach had not emphasized selling
Monticello beyond a limited pool of prospects. He pointed out that contracting with WSB
for services would strategically shift the role of the Economic Development Director from
one of marketing and administrative duties related to business retention efforts to a new
focus on lead development, a broad sales outreach, and bringing prospects to the
negotiations table.
WSB staff John Uphoff, Brian Bourassa and Brett Weiss outlined key components of the
proposal and responded to EDA questions.
The initial effort would focus on asset identification. WSB would conduct an ongoing
market study across sectors to obtain current and relevant data as to what the City has to
offer. The data would later be used to define and support how Monticello is uniquely suited
to address particular prospect location needs. Angela Schumann summarized that guidance
for City assets has been outlined in documents such as the Embracing Downtown
Monticello Plan, the Capital Improvement Plan, the Transportation Plan, the zoning code
and the recently updated Community Context, Land Use and Economic Development
chapters of the Comprehensive Plan.
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WSB would next focus on compiling an Asset Database utilizing Info Tracker to identify
available land/building inventory and enabling instant access to searchable, current
property data for timely lead response. It would also provide an opportunity for real time
market feedback. The use of such GIS based tools would serve as a resource for all
property owners in the community rather than just those that are City owned. WSB would
report back to the EDA every two months about prospecting leads, the value of the
development and the probability of closing.
Angela Schumann acknowledged that City staff has found it difficult to maintain and
assemble data requested by a site selector, prospector, or business in a prompt manner at
this time due to changing information and disconnected sources. Weiss noted that
Monticello is not the only community that struggles with providing quick responses to
emerging opportunities.
Schumann also pointed out that the data collected would describe the City as it has
continued to evolve. She suggested that contracting with WSB would provide essential
feedback on how economic development had influenced land and building supply, when to
further invest in land and infrastructure, and whether incentives in place provide value.
WSB would also focus on Data Deployment/Market Matching to identify potential
prospects, customize data to fit specific needs, and provide direct marketing to targeted
prospects. He pointed to pumping up the web presence as an important strategy.
O'Neill asked how WSB would tap into other organizations like Greater MSP and the
Department of Employment and Economic Development (DEED) which work to create
leads for the region. Weiss suggested that relationships rather than brochures drive sales.
He pointed out that WSB's internal program, Developing Lasting Valuable Relationships
(DLVR), has been key to remaining a visible and active part of networking. WSB would
get the word out that Monticello is open for business.
Bill Demeules asked how many cities were under a related contract with WSB. Although
Weiss indicated that no other cities have yet signed on under a related contract, there is
interest among 6 -10 communities.
The cost of the one year contract with WSB, including data mining and management, is
$48,000. Contracting for services would enable the City to determine the success of a
sales- focused economic development approach without being locked into funding an
expensive and long term staff position. In addition, the proposal would collect and
maintain the fresh data and analysis critical to attracting prospects that Monticello would
need to pay to obtain regardless of whether or not the Market Match proposal is approved.
O'Neill pointed out that the WSB proposal is an incremental but tangible step that the City
could take today which may help further develop the fall economic development plan over
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time.
The EDA will make a formal recommendation as to whether to proceed with the
development of scope of services contract with WSB or pursue another option at the
regular EDA meeting scheduled immediately following this special meeting.
4. Adiournment
BILL TAPPER MOVED TO ADJOURN THE SPECIAL MEETING AT 5:54 PM. TOM
PERRAULT SECONDED THE MOTION. MOTION CARRIED 5 -0.
Recorder: Kerry Burn _
Approved: July 10, 2013
Attest: or. �-
Je ill, Executive Director