EDA Mtg 051925
Monday, May 19, 2025
Oath of Office for new EDA members
Approval of January 21, 2025 meeting minutes
2026 EDA levy review and budget recommendation
Kushman and Wakefield market report regarding Highway 65 corridor
Areas of Interest (4)
- City of East Bethel EDA debates increasing budget levy despite having $98,000 in unspent reserves.
- Retail market cooling: Brokers warn that multi-tenant commercial centers are struggling to pencil out.
- Highway 65 corridor faces 'circuitous' site access challenges, complicating retail recruitment.
- Developers cite lack of residential rooftops and market uncertainty as reasons for slow East Bethel commercial growth.
Votes (3)
Adopt the agenda
Moved by Not specified · Seconded by Not specified
Adopt January 21, 2025 minutes
Moved by Not specified · Seconded by Not specified
Set the 2026 EDA budget to $147,300
Moved by Not specified · Seconded by Not specified
Notable Quotes (2)
In the Twin Cities, we're experiencing more suburban retail development than true infill reuse of other buildings. A lot of these tenants that are in the market now want newer product.
The retailers kind of just say, 'All right, that's great, but we'll come back in a year or we'll check back in a year or two.' Kind of timeline is not three months, it's probably not 6 months, it's probably 6 to 12 months.
People (3)
Tim MillerCommissionerNew EDA member sworn in during the May 19, 2025 meeting.
New EDA member sworn in during the May 19, 2025 meeting.
Brian MundleCommissionerNew EDA member sworn in during the May 19, 2025 meeting.
New EDA member sworn in during the May 19, 2025 meeting.
Ben DrewLand BrokerRepresenting Kushman and Wakefield; providing market analysis for Highway 65 corridor.
Representing Kushman and Wakefield; providing market analysis for Highway 65 corridor.
Places Mentioned
Events & Meetings (2)
- May 19, 2025: EDA Meeting
- January 21, 2025: EDA Meeting