HomeMy WebLinkAboutMarch 03, 2026 - EDA PacketSHAKOPE E
Shakopee Economic Development Authority Regular Meeting
Tuesday, March 3, 2026
7:00 PM
City Hall, 485 Gorman Street
1. Roll Call
2. Approval of Agenda
3. Consent Business
3.a Approval of EDA Meeting Minutes
4. General Business
4.a Modification of Lease at 155 1st Ave E at River City Centre
5. Reports
5.a EDA Bill List
6. Adjourn
Note to EDA Members: If you have any questions or need additional information on any of
the above items, please call Michael Kerski, prior to the meeting at (952)233-9346.
1
SHAKOPEE
Agenda Item:
Prepared by:
Reviewed by:
Shakopee Economic
Development Authority
March 3, 2026
Approval of EDA Meeting Minutes
Rick Parsons
3.a
Action to be considered:
I move to approve the EDA meeting minutes for February 4, 2026
Motion Type:
Simple Majority
Background:
The February 4, 2026, EDA meeting minutes are ready for approval.
Recommendation:
Approve the above requested motion.
Budget Impact:
none.
Attachments:
EDA Minutes 02-04-2026
2
SHAKOPEE
Economic Development Authority
City Hall
485 Gorman Street
Shakopee, MN, 55379
Wednesday, February 4, 2026
7:00 p.m.
Vision: Shakopee is a place where people want to be! A distinctive river town, with a
multitude of business, cultural and recreational opportunities in a safe, welcoming, and
attractive environment for residents and visitors.
Mission: Our mission is to deliver high quality services essential to maintaining a safe
and sustainable community. We commit to doing this cost-effectively, with integrity and
transparency.
1
Roll Call
PRESENT:
Vice President Lara, Commissioner DuLaney, Commissioner Contreras, and
Commissioner Lehman
ABSENT:
President Whiting
ALSO PRESENT:
None.
2) Approval of Agenda
Commissioner DuLaney made a motion to approve the agenda, second by
Commissioner Contreras and the motion passed. 4 - 0
3) Consent Business
3.a) Approval of EDA Meeting Minutes
Commissioner Lehman made a motion to approve the consent agenda, second
by Commissioner Contreras and the motion passed. 4 - 0
4) General Business
1/23
4.a) Approval of 3 year Lease Amendment Agreement for Z Dress
Commissioner Contreras made a motion to approve a three year lease
extension with Bilkhery Boutique Fashion, LLC doing business as Z
Dress at the new rates, second by Commissioner DuLaney and the
motion passed. 4 - 0
5) Reports
5.a) EDA Bill List
6) Adjourn to March 3, 2026, at 7:00 pm
Commissioner Lehman made a motion to adjourn to March 3, 2026, at 7:00
pm, second by Commissioner DuLaney and the motion passed. 4 - 0
2/2 4
WILLA!
SHAKOPEE
Agenda Item:
Prepared by:
Reviewed by:
Shakopee Economic
Development Authority
March 3, 2026
Modification of Lease at 155 1st Ave E at River City Centre
Michael Kerski, Planning and Development Director
Michael Kerski
4.a
Action to be considered:
Approve Modification of Lease Rate
Motion Type:
Simple Majority
Background:
The tenant, like many, has been severely impacted by recent economic actions in the
area. The product they sell is highly perishable and with decreases in sales, it has
significantly impacted the revenue stream. They have agreed to remain in the space
through the end of their lease in October 2027 based on the proposed lease modification
rate.
The tenant's current lease through 2027 at $2,761 a month. The new rate will be
$2,020.67 per month.
Recommendation:
Approve Lease Modification for 155 1st Avenue East to $14 er square foot at $2,020.67
Budget Impact:
Will keep cashflow coming and keeps the space occupied
Attachments:
5
WILLA!
SHAKOPEE
Agenda Item:
Prepared by:
Reviewed by:
Shakopee Economic
Development Authority
March 3, 2026
EDA Bill List
Becky Smith, Accounting Specialist
5.a
Action to be considered:
Review EDA Bill List
Motion Type:
Informational only
Background:
EDA Bill List provided to EDA Commissioners
Recommendation:
Information Only
Budget Impact:
N/A
Attachments:
6