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07-11-2023 EDC MinutesCHANHASSEN ECONOMIC DEVELOPMENT COMMISSION REGULAR MEETING JULY 11, 2023 Chairman Anderson called the meeting to order at 5:30 p.m. MEMBERS PRESENT: Chair Eric Anderson, Commissioners Duke Zurek, Chris Freeman, Cohen Lee, and Luke Bame MEMBERS ABSENT: Stacy Goff STAFF PRESENT: Samantha DiMaggio, Economic Development Manager PUBLIC PRESENT: None Member Zurek move, Member Lee seconded to approve the agenda. All voted in favor and the motion carried unanimously with a vote of 4 to 0. APPROVAL OF MINUTES: APPROVE ECONOMIC DEVELOPMENT COMMISSION MINUTES DATED JUNE 13, 2023 Member Zurek moved, Member Lee seconded to approve the Minutes of the Economic Development Commission meeting dated June 13, 2023, as presented. All voted in favor and the motion carried unanimously with a vote of 4 to 0. DISCUSSION/GENERAL BUSINESS ITEMS: 1. Updating the City’s Business Subsidy Policy Economic Development Manager Samantha DiMaggio shared a draft of an updated Business Subsidy Policy. Members discussed various cities’ business subsidy policies, including how employee pay is tied to the subsidy, and benefits of industrial versus commercial jobs. They discussed minimum wage, average wage, and living wage. Business subsidies can’t be based only on increasing tax base. The commission expressed the desire to keep the wage requirements feasible for employers. Member Zurek moved to recommend that 33% of full-time equivalent positions be paid 200% of the State of Minnesota minimum wage at the time of the subsidy grant. Member Lee seconded this motion. The motion carried with a vote of 4 to 1. Member Freeman voted nay. Economic Development Commission – July 11, 2023 2 Director’s Report: Ms. DiMaggio took a tour of Lake Place, a 55-plus apartment complex in town. They received a Housing TIF, so a percentage of units need to remain affordable. She shared that there will be an open house on August 8, 2023. Ms. DiMaggio stated there will be a City Council work session on July 17, 2023, with Roers about the redevelopment project in downtown Chanhassen. Roers has the hotel and movie theater land under contract. The city would like retail on the lower level. ADJOURNMENT: Member Zurek moved, Member Lee seconded to adjourn the meeting. All voted in favor and the motion carried unanimously with a vote of 5 to 0. The Economic Development Commission meeting was adjourned the meeting at 6:52 p.m. Submitted by Samantha DiMaggio Economic Development Manager Prepared by Amy Weidman Administrative Support Specialist