The Shakopee Economic Development Authority (EDA) held its regular meeting on Tuesday, February 4, 2025, at 7:00 PM at City Hall, 485 Gorman Street. The board approved two leases for spaces in River City Centre, discussed a property disposition opportunity involving a parcel adjacent to the Cherney development, and approved the consent agenda and bill list. The meeting adjourned to March 4, 2025, at 7:00 PM.
Lease Approvals for River City Centre (Item 4a):
Property Disposition Discussion (Item 4b) – West End Land Development:
EDA Bill List (Item 5a): No questions; approved via consent.
Thank you. I'd like to call to order the Tuesday, February 4th meeting of the Shakabi Economic Development Authority meeting. Please make note of the role. Mr. Lehman. Make a motion to approve the agenda. Second. There's a motion and a second to approve the agenda. Without objection, we'll move that forward. All in favor? Aye. Any opposed? No, we had no objection. All right, let's move forward to general business. We're gonna talk about 4A and our lease agreements. Mr. Lehman. Mr. Whiting, I'll make a motion to approve the consent business. Oh, we moved. There we go. Is there a second? Second. All right. Thank you. We have a motion to a second to approve the consent business. Any discussion on that? Discussion, discussion. All in favor. Aye. Aye. Any opposed? All right, it's consent business. Now we're moving on to general business 4A. Mr. Kersky, please. Board members. So uh we're here tonight. We have a lease in place and uh for the Z dress space. Um so we're asking for the approval of that tonight. They've actually um made their security deposit and paid their first month's rent already. And so we're ready to and they have executed their side of the lease. The second uh lease is for what was the Shakopee market Yummy bites. So it's for uh group called Yummy Bites are out of Minneapolis, and uh they're a coffee and treat store. We're proposing a five-year lease with an option for another five years at $18 a square foot with a 50% increase every year thereafter. February and March would be rent-free as we prepare the space. They would need to do architectural plans, use our tenant plumber and mechanical contractor, and then the EDA would install the signage on the front and back. This is uh some of their products, so we think it's gonna be a great addition to downtown, another um kind of more active space than the one that was in there before. Um they have a really great reputation. Uh actually, Tim Zunker from the chamber has been there for meetings.