Shakopee EDA Meeting – June 5, 2025: Canterbury Partnership & Lease Amendment
Shakopee Economic Development Authority Meeting – June 5, 2025
The Shakopee Economic Development Authority (EDA) met on June 5, 2025, to consider a partnership with Canterbury for a market feasibility and design study of 28 acres near the amphitheater, approve a lease amendment for Concrete Mobility at River City Center, and handle routine administrative items. All motions passed unanimously.
Discussion Items
- Partnership with Canterbury on Feasibility Study (Item 4A): Staff presented a proposal to partner with Canterbury to study the southern 28 acres adjacent to the amphitheater. The study would be conducted by Hyden Partners (market feasibility, economics at $115,000) and RSP Architects (design at $50,000), with total cost not to exceed $100,000 from the EDA's administrative funds (Canterbury TIFFs), reimbursed 50% by Canterbury. The work includes market analysis, digital tools, and later branding. Member Lehman asked whether a traffic analysis would be included (staff clarified it was part of the earlier EAW) and whether the cost covered the branding firm (included in the not-to-exceed amount). Member Larrow made a motion to approve the partnership; it was seconded and carried unanimously.
- Lease Amendment for River City Center – Concrete Mobility (Item 4B): Staff requested approval of a one-year lease renewal from July 1, 2025, to June 30, 2026, at a rate of $18.91/sq ft or $4,000 per month. The tenant, Concrete Mobility, pays six months in advance and will vacate after this term. Motion approved unanimously.
- EDA Bill List (Item 5A): No questions; approved without dissent.
Key Outcomes
- Approved the partnership with Canterbury for the feasibility study (not to exceed $100,000 from EDA administrative funds, reimbursed 50% by Canterbury). Motion carried unanimously.
- Approved the one-year lease amendment for Concrete Mobility. Motion carried unanimously.
- Approved the bill list without dissent.
- Meeting adjourned to July 1, 2025.
Meeting Transcript
We'll call to order the June 3rd, 2025, meeting the Shockabi Economic Development Authority. Please make note of the role. Next item on the agenda would be item two, approval of the agenda. Member Lehman? Mr. President, I'll make a motion to approve the agenda. Second. Motion and a second to any discussion, discussion, discussion. All in favor say aye. Aye. Any opposed? Motion passed. Consent business. We have nothing on the consent business tonight. So how about number four, General Business 4A? We're going to talk about a partnership with Canterbury on a feasibility and design of the southern 28 acres adjacent to the amphitheater. Mr. Kersky Order. Good evening, Chair and Board members. So one of the things we're going to talk about is this potential partnership. The site's very unique in the state. This really creates a case study and a precedent example of other markets that will be examined. Completing a market study of what is the best attractions for the Shacopee market. How do we make this a major destination for the region beyond the assets we currently have? And then data market points to market the potential unique attractions that could be coming here. And then Canterbury interviewed some of the top firms in the country to get us to where we are today. So this is the area that would be studying. So Canterbury is recommending Hyden Partners. They're the leading advisor and destination real estate development in the U.S. They've got over 20 billion dollars planned or built assets. They've completed over a thousand studies. This map kind of gives you an idea of all the areas that they've covered. The partner for this project will be Mike Tyson. His big project he's had. He's um done a lot of development in the region. Um then be followed up with uh director who's got 120 projects, and he's done full-cycle project management. So we have two of the top people in the firm working on this. Here's some of their uh projects they've completed in the past. Churchill Downs, they did a hotel and gaming facility study for them. Um Chandler, Arizona, the Wild Horse Pass, uh Rawhide Event Center Mixed Use Development, they did this study. This is actually uh under construction. Westfield, Indiana, they did an area wide master plan and mixed use entertainment lifestyle district around uh their grand park. This is kind of similar in scale to what we're thinking about for potentially uh the area by the amphitheater. Overland Park, Kansas, they did the Blue Hawk Sports Anchored Mixed Use Development. And California did a family entertainment zone, which is a mixed-use district adjacent to the Great Wolf Lodge and Sports Park there. And then these are some other projects they've done through uh out the country, all the way from our U.S. area San Juan, Puerto Rico down to Cleveland, Ohio. And then they've also done a number of boutique hotels and unique lodging developments, because I think one of the things that Canterbury and we are looking for is to really create something that's very special and different that's just not replicated in the Twin Cities market. So these are some of the research tools. Placer AI is probably the leading tool right now in the country uh that tracks where people go and what attracts them.
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