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HomeMy WebLinkAboutMinutes EDAB 110906Economic Development Advisory Board Minutes November 9th, 2006 The Economic Development Advisory Board met on November 9th, 2006. The meeting was called to order by the Chairperson, Kenneth Kahn, at 8:40 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 Kenneth Kahn Chair Lou Gaeta Vice Chair Elaine Beers Sandra Foland Mark Murnan Steve Cohen 1 st Alternate Members Absent Casey Steinbacher James Kissel Also Present: Joseph Russo, Mayor and Council Liaison Dolores Key, Economic Development Director and Staff Liaison Talal Benothman, Planning Manager and Alternate Staff Liaison Kara Irwin, Growth Management Administrator II. Approval of Minutes The Board approved the minutes from the October 12th, 2006 meeting. III. Council Update Mayor Russo reported on the planning charrettes where they discussed the height limitations with approximately 100 residents and developers. There were two sessions held on consecutive Wednesday nights, October 25, 2006 and November 1, 2006. At the first meeting there was one small group that consisted of two to three members who stated that they did not want to not allow anything over one story. He reported that the meetings flowed from small groups of residents and developers who at first met all at one table but later the group disbursed into various teams who decided buildings with greater heights even up to 12 stories would be okay as long as concurrencies and traffic issues were met. Mayor Russo stated that the charrettes were a great success. Mayor Russo explained to them that concurrency had to be met or else you can't build. From an Economic Development standpoint, they were still trying to get things accomplished and trying to be compatible with the wishes of the residents. Finally, Mayor Russo was pleased to have this all behind him because there had been one group of residents who had wanted to do a referendum on this and he didn't think that was the way to govern. But if they had had a petition, he would have supported it. Finally, Mayor Russo stated that they were still working on parts of 5A (Biotech Economic Development Advisory Board Minutes 110906 Page 1 Cluster Piece) and that Mr. Catalfumo had explained to him that he is making his application by December. IV. Staff Report With nothing further to discuss on the agenda Dolores Key, Staff Liaison, moved on to New Business and introduced the two guest speakers from Scripps Florida. VII. New Business: Presentation and Open Discussion What's Growing at Scripps Florida: Discoveries and the Business of Science. Dr. Claes Wahlestedt, Director of Neuroscience Discovery Dr. Claes Wahlestedt was the first speaker. He stated he was here to speak more on the business side of things. He stated that both he and Dr. Malcolm Leissring are scientists and that's what really drives them. He mentioned that he had worked for a number of years with the some of the biggest pharmaceutical companies including Pfizer and he also previously was a part of a major university in Sweden. He stated that the people from Scripps came from all different kinds of backgrounds. His particular role at Scripps Florida is to coordinate Neuroscience Discoveries dealing with diseases of the brain and the nervous system where he says there is a tremendous need for treatments. He also stated that having a Medical Doctorate background he has seen patients who suffer from these diseases. The main topic he spoke on was Alzheimer's Disease. He went on to say that The Scripps Research Institute is a basic biomedical institute, not - for - profit. So all they're trying to do is very basic research because they cannot treat these diseases unless they truly understand the very basic functions such as how the brain works. They are still in the process of working on improving the human condition by translations. Dr. Claes Wahlestedt stated that they definitely need to train people at a graduate level and these are students with a PhD or MD degrees coming from all over the world to form a team. He also gave a few examples in the United States where there is a strong university or research institute which he calls a cluster type of environment. Such as MIT - located in Boston, NIH — located outside of Washington, Stanford located in California and their mother company The Scripps Research Institute in San Diego which was built over the last 40 years. He mentioned that as of today, there are almost 200 people located at the Scripps Florida FAU campus in Jupiter. By early 2009, they will be moving into Phase 2 with three new buildings. This, he said, will make a significant jump in their activities where they will be able to recruit more people beyond the 200 they have in place right now. Dr. Claes Wahlestedt mentioned a few spin -off possibilities: 1) Service companies where they can help other companies and /or other academic researches. 2) Creation of diagnostic tools 3) Developing a drug for Alzheimer's Disease 4) Medical devices to assist in research of brain diseases. He also mentioned, in order to start Biotech, a number of things have to be considered such as: 1) Strong Science and /or technology. 2) Patent or intellectual property in place and most importantly, good people. 3) Seed capital and incentives to assist with building a new company need to be put into place. Economic Development Advisory Board Minutes 110906 Page 2 Dr. Claes Wahlestedt went on to say, in terms of market, you have to think globally because diseases have no borders. He says biotech is very exciting because even the smallest biotech becomes a global player in such an international endeavor. Focusing on certain areas is very important in order to be competitive. Typically, he says, a spin -off company needs such things as seed financing. His dream of the future is to develop drugs that are preventative so you can actually give a drug before the patient gets the disease. Human diversity is one of the most important things they are focusing on right now in the lab. Dr. Wahlestedt thinks that the future will show an improved ability to make drugs /medicines that are tailor -made, which requires basic research and a better understanding on how a human system works. Dr. Malcolm Leissring, Assistant Professor of Biochem & Neurobiology The second speaker was Dr. Malcolm Leissring. Dr. Leissring basically applied everything that Dr. Claes Washlestedt mentioned with a case study in Alzheimer's Disease. He also added that even though it's exciting to interact with the community and the government here in Florida, there are challenges in establishing a new organization and forging those ties within the scientific community. He states that he also studied Alzheimer's disease and he is a new investigator and hopefully will be showing how much of an enormous potential there is in each lab. He says the Alzheimer's Disease was identified in November 1906 and most people categorize it as it as a disease for those who are getting older. The impact is economically huge. If incremental changes can be made in delaying the disease, huge economic benefits could be reaped. He believes that an ounce of prevention is worth one pound of cure. Dr. Malcolm Leissring is hoping to promote that message and maybe some changes may occur. He reminded us that there's really no effective treatment right now, the drugs given today do not modify the disease. He went on to educate the audience on the disease and the different features in the brain. Finally, he thanked the following members of his team: Dennis Salco, his advisor: Jimmie and Lillie, South Florida University undergraduates: Patty Doherty, who helped with the slide shows; and AJ who made the packman movies. The floor was then opened for questions and discussion. 1) The doctors were asked if there been any exploration with neurosurgeons as far as how to remove the plaque that contributes to the Disease such as in cardio, and is work being performed at to inhibit the growth of these things that promote Alzheimer's? 2) What are the different types of dimensions? 3) Is there an order of magnitude numbers? 4) What can the City do to help move research forward? 5) Investments opportunities: Is there a systematic office that the business and investment community can go to to find out a pipeline of investment opportunities so that they can plan ahead in advance for their funds ?. Discussions followed with the doctors thanking the participants for their interest. The members were asked to concentrate their interests into attracting spin -off companies to the cluster and into preparing to assist them. V. Land Development Petitions None Economic Development Advisory Board Minutes 110906 Page 3 VI. Establishment of Next Meeting Topic No topic was discussed. VI. Next Meeting Date Next meeting date will be Thursday, December 14th, 2006. VI. Public Comment One of the EDAB members mentioned that with Scripps coming to this City, we're taking Palm Beach County where companies must look at to be. It will no longer be just a consideration but rather where these companies have to be and that's the most important thing we need to get to. He went on to say that we need to be prepared. If a company comes to our door step, we can't try to figure out where we're going to get the monies from. After speaking to the City Manager he mentioned that we need to have something in place with the County so that, if in fact a company came, they would know what the County could do, what the State and the City could do, so that we could be ready. Finally, he says that we just need to continue working forward. Economic Development Advisory Board Minutes 110906 Page 4 VII. Adjournment With no further business to discuss the meeting adjourned at 10:00 a.m. Approval: Kenneth Kahn, Chairperson Lou Gaeta, Vice Chairperson ('-� �/ - d"'4 Elaine Beers, Board Member Jarf Kesel, Board Member Mark Murnan, Board Member all 1 Casey Steinbacher, Board Member r i Sandra Foland, Board Member Steve Cohen, Alternate Board Member Attest: Patricia Snider, CMC, City Clerk 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. Economic Development Advisory Board Minutes 110906 Page 5