HomeMy WebLinkAboutMinutes EDAB 072006Ei.
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Economic Development Advisory Board
July 20, 2006
The Economic Development Advisory Board met on July 20, 2006. The meeting
was called to order by the Vice - Chair, Lou Gaeta, at 8:30 A.M. in the Council
Chambers of the Municipal Complex, located at 10500 North Military Trail, Palm
Beach Gardens, Florida, and opened with the Pledge of Allegiance.
I. Roll Call
Members Present
Lou Gaeta Vice Chair
Casey Steinbacher
James Kissel
Mark Murnan
Sandra Foland 2nd Alternate
Members Absent
Kenneth Kahn Chair
Elaine Beers
Steve Cohen 1 st Alternate
Also Present:
Joseph Russo, Mayor and Council Liaison
Dolores Key, Economic Development Director and Staff Liaison
Dan Clark, Interim Growth Management Administrator
Kara Irwin, Planning Manager
II. Approval of Minutes
The Board approved the minutes from the March 9, 2006 meeting.
III. Staff Report
There was discussion about Item #6, Northlake Village, Garden Walk, LLC. The
petitioner has requested to be scheduled for September 14, 2006 meeting.
IV. New Business
Dolores Key reported that staff was directed to explore options for financial
incentives and present ideas to City Council. A data and analysis report has been
authored, as well as ideas for different types of incentive programs. Analysis
included the comparison of land costs; impact fees for both County and City;
Building permit fees; and the Bioscience definition. An illustration of impact fee
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costs was shown using a 50,000 square foot facility as comparison for a lab,
medical /general office, and general office space. •
The definition of "the Biosciences" was provided in a PowerPoint slide and
background information included statistics from the San Diego market. The
dollars spent in economy, percentage of people working in San Diego's
biotechnology industry including approximately 150 companies that have spun off
from the triad of The Scripps Research Institute, Salk, and UCSD. These 150 +
companies contributed in excess of $1.8 billion annually to the San Diego
economy.
Casey Steinbacher reported on recent activities of the Bioscience Land Use
Advisory Board where Mayor Russo is part of the board representing the City of
Palm Beach Gardens. At their last meeting, Commissioner Marcus asked the
Chamber, Business Development Board and some private developers to discuss
potential incentives that would work for the development community and to
present their findings to the Bioscience Land Use Advisory Board. The diversity,
intensity and density of uses were very important to the developer community in
order for them to carve out parcels of property to reserve with the hopes of
developing it for Bioscience.
Mayor Russo thanked the Board for their support and feedback. -The Mayor
reported that Council is committing a large amount of money to jump -start this
incentive program with the upcoming budget. The goal is to find a long term •
funding source to incorporate the program developed by staff. The Mayor
discussed a meeting he had with Catalfumo regarding Parcel 5A. Part of the
development could include a conference /hotel. Catalfumo and staff are meeting
to create a future plan and jump -start the transaction so the Bioscience
companies can be shown where they can build because that land is already
entitled to build 800,000 square feet.
The meeting was opened to suggestions and ideas from the members of the
board.
Sandra Foland said the keyword is jump -start. If there is a company that we
thought we should target, find out their needs and make a list of the two to three
things needed and as a City. Examine how the needs can be addressed, do we
fit the criteria they are looking for.
James Kissel, stated that he was a recruiter and his company had offices
worldwide. There are consulting organizations that provide brain power to major
organizations that don't have the resources internally the way they used to.
However, there are many companies that have the potential of being located
here and provide services to the Bio Tech industry that we may not know about.
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• Mayor Russo commented that it would be helpful if Kelly Smallridge attended the
next meeting. She's out there recruiting these companies everyday and is the
best one to explain what is needed.
Mark Murnan asked what are other cities doing? What other cities have been
successful in recruiting these businesses. What can we offer when we're running
into concurrency issues and how much interaction do we really have. In
reviewing the numbers, how much of these numbers can we as a city shave just
as a simple starting point? Dolores Key offered an explanation about the
dynamics of government financing. To create financial Incentive programs an
economical development fund would need to be established and transfer dollars
from the Economic Development Fund back to line item. Also, for companies to
qualify for State funds, a 20% local match is needed.
Mayor Russo stated that staff is in discussion with the City Manager but has not
finalized the details. City Council will be setting the maximum Millage rate at July
20, 2006 Council meeting. The idea is to take some of the reserves and put it into
Economic Development.
Lou Gaeta had a few observations. Is there a way to create a City core that
promotes the professions that follow Biotech to give extra incentive on intensity
or density? That's another way of trying to address it for long term
redevelopment.
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Mayor Russo added we could jump-start Bioscience and perhaps have
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Loehman's Plaza be redeveloped, combine parcel 5A and parcel 5B and the
redevelopment of NorthCorp, this could be the village concept that the Governor
was looking to create.
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Lou Gaeta stated that we ought to be looking for a core area or a City center
area.
Sandra Foland said the City of Birmingham in conjunction with the University of
Birmingham formed a partnership. This resulted in royalties for both.
Casey Steinbacher stated that typically those relationships were built around
incubator opportunities. These small companies that the University and the City
funded incubator space, took a percentage of the royalties as they spun out. We
have a company that has announced that they are building a wet lab incubator
facility in Palm Beach County but they have not announced where they are
building it yet. University's were absolutely the birth places of a lot of small
businesses based on percentage of royalties.
Mayor Russo said that in the Scripps transaction he believes that both the State
and County share in royalties. Casey confirmed that.
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Next Meetinq Topic
It was the consensus of the Board to have the next meeting on August 10 , 2006 •
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and to discuss financial incentives and ask Kelly Smallridge of the Business
Development Board to attend.
Seeing no members of the public present, there would be no comments from the
public the meeting was adjourned.
IV. Next Meeting
Discussion regarding incentives and the process for new companies interested in
moving to the City.
V. ADJOURNMENT
With no further business to discuss the meeting adjourned at 9:29 AM.
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Kenneth Kahn, Chairpe` -Fgm
Lou Gaeta, Vice Chairperson
Elaine Beers, Board Member
argbs Kissel, Board Member
Mark Murnan, Board Member
Casey Steinbacher, Board Member
Steve Cohen,-Alternate Board Member
Sandra Foland, Alternate board Member
Attest:
D6bbie Andrea, Recording Coordinator for the Meeting
Note: These summary minutes are prepared in compliance with 286.011 F.S. and are not verbatim
transcripts of the meeting. A verbatim audio record is available from the Office of the City Clerk.
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