EDA Meeting Date: August 25, 2025
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Staff Updates on Outstanding EDA Items and City-Wide projects
Body
Action Requested:
No action. There are a number of outstanding items related to the EDA. Below is a summary update on each item. Staff will provide an update during the meeting and the Board has the opportunity to discuss each item individually if desired.
Summary Report:
Connecting Business and Community (CBC)
The EDA has moved into the next phase of working with the University of Minnesota Extension Community Development division to implement the Connecting Business and Community (CBC) program, formerly the Business Retention and Expansion (BR&E) program. EDA members, volunteers, and staff completed more than 50 individual business visits. Extension completed a detailed analysis of the collected data. Extension recently hosted a Task Force retreat on Wednesday, July 23rd, in which many city leaders and EDA members learned about the results of the interviews. Now, the community, EDA members, and staff are working together on task forces to continue working on strategic initiatives.
Extension will be publishing a Summary Report detailing their analysis and our community’s progress, which should be available in the near future. There will also be an open house later this fall for the broader community to learn about the summary data results and join the task forces in furthering our strategic objectives. Future work will follow a shared accountability model, a feature of the CBC program, to continue to address our strategic objectives and other concerns identified in Extension’s analysis. The presentation is attached as a reminder of the event and for your review.
5th & Washington Project Update
City Administrator, Ben Martig, will give a brief project update at the meeting.
Loon Liquors Update
Loon Liquors is in process of finalizing the buildout of their new location at 115 5th Street. They have officially ended service at their current location in the Armstrong Road Business Park. They anticipate opening to the public before Defeat of Jesse James Days. However, that opening could occur immediately after the community festivities.
MCCD Quarter 2 Report is attached for review.
City Administrator’s Memo is attached for review. The memo is produced monthly, on the fourth Friday of the month.
Alternative Options:
This report serves as an update on other items occurring throughout the city. The EDA can provide alternative options during discussion.
Financial Impacts:
Staff will provide financial impacts when appropriate.
Tentative Timelines:
Future Meeting Schedule is attached as reference. Staff is gauging EDA members’ availability for a fall retreat.