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2010-01-06 Economic Development Commission MinutesCITY OF EDMONDS JOINT PLANNING COMMISSION/ ECONOMIC DEVELOPMENT COMMISSION January 6, 2010 The Citizens Economic Development Committee meeting was called to order at 6:00 p.m. by Chair Frank Yamamoto in the Brackett Room, 121 5th Avenue North, Edmonds. EDC COMMISSIONERS PRESENT Bruce Faires Stacy Gardea Don Hall Darrol Haug Betty Larman Beatrice O'Rourke Evan Pierce David Schaefer Rich Senderoff Kerry St. Clair Ayers Rob VanTassell Bruce Witenberg Rebecca Wolfe Frank Yamamoto Marianne Zagorski EDC COMMISSIONERS ABSENT Bill Vance PLANNING BOARD MEMBERS PRESENT Michael Bowman Cary Guenther Phil Lovell Todd Cloutier Kevin Clark Valerie Stewart PLANNING BOARD MEMBERS ABSENT John Reed Judith Works STAFF PRESENT Stephen Clifton, Community Services/Economic Development Director Rob Chave, Planning Manager Frances Chapin, Cultural Services Manager Jeannie Dines, Recorder 1. INTRODUCTION AND COMMENTS BY CHAIR Economic Development Commissioners and Planning Board Members and staff introduced themselves. 2. AMENDMENTS TO AGENDA - NONE 3. APPROVAL OF ECONOMIC DEVELOPMENT COMMISSION MINUTES OF DECEMBER 16, 2009 — MINUTES NOT AVAILABLE 4. JANUARY 19, 2010 CITY COUNCIL MEETING a. Annual Report from Economic Development Commission and Planning Board Chair Yamamoto began his review of the draft PowerPoint presentation to be provided to the City Council on January 19, identifying the challenges facing the City due to revenue growth that is slower than expense growth, a projected deficit of $500,000 in 2013 increasing to $6.5 million in 2020, and the Citizens Economic Development Commission Approved Minutes January 6, 2010 Page 1 required increase of $1700 per household to sustain existing services and concluding the City must increase existing revenues and create new revenue streams in order to be sustainable. Commissioner Haug reviewed slides illustrating Edmonds per year deficit projections 2010-2019, cumulative and estimated tax revenue from Harbor Square development 2010-2019, City revenue shortfall with revenue from a Harbor Square -like development 2013-2019, and the yearly tax increase per household to cover shortfall with and without revenue from a Harbor Square -like development. Chair Yamamoto continued his review of the PowerPoint, describing the formation of the EDC, membership, the EDC's charge as stated in Ordinance 3735, term of Commission, definition of economic development, items that contribute to quality of life, threats to quality of life, progress to date, and information gathered from presentations made by Snohomish County EDC, the Port, Bothell, Mountlake Terrace and Lynnwood. He also reviewed the EDC's recommendations in response to the direction in Ordinance 3735 for determining new strategies for economic development, identifying new revenue sources, increasing tourism, and improving commercial viability. Economic Development Commissioners and Planning Board Members discussed the PowerPoint and made the following comments/suggestions: • Separate Harbor Square development from potential development of Antique Mall, Skippers, etc. due to differences in ownership, location, adjacent uses, • Be silent regarding development of the Antique Mall • Presentation needs further description of the financial impacts of developments • Use the least aggressive/more realistic Harbor Square development numbers • Provide transit oriented development on Hwy 99 as an example instead of Harbor Square • Replace reference to Harbor Square with "hypothetical new development to absorb population growth" • Provide specificity where possible and generalities where necessary • Leave deficit chart and move charts illustrating how development could impact deficit to end of presentation — use numbers from scenarios in Harbor Square proposal to demonstrate possible revenues from transit oriented development • Identify multiple ways to generate revenue such as develop existing corridors with diverse uses • Emphasize development of the medical community due to Swedish's affiliation with Stevens Hospital. Swedish's visiting nurse program is housed in Mountlake Terrace, possibly they would move to Stevens Hospital • Ask for commitment from the Council by the end of the retreat to support exploration of redevelopment in all these areas during 2010 • Emphasize to the Council that development will not occur unless the City is ready when the market improves • Provide pictures/flowchart along with words — graphics to illustrate what want to do in activity centers • Simplify the PowerPoint and don't read it. Make the chart illustrating the deficit the first slide • Emphasize attracting clean/green businesses, not just residential • The chart showing revenue from development illustrates that revenue from development does not solve City's financial issue • Need an approach that addresses neighborhood districts and residential development as well as and maintaining quality of life, requires a multi -pronged approach • Give conclusions first, then how got there and then conclusions again • Get Council to commit to a full-time Economic Development Director, regardless of whether they support the concept of redevelopment Economic Development Commission Approved Minutes January 6, 2010 Page 2 • Have two members of City Council participate on the EDC • Emphasize the need for a strategy that is not real estate based, real estate is not the solution • Development is needed that will bring visitors to City • At the conclusion, list specific multi -pronged strategies, i.e. full-time Economic Development Director • Add something regarding Council's desire for green branding, LEED certification, green jobs • The economic downturn is an opportunity to think outside the box • Marketing strategy that emphasizes green/sustainability and revisions to the code to make development easier • Build on unique aspects of Edmonds that attract people, redevelopment and a code that attracts green development • Capitalize on interest in green/sustainability • Pursue McKinstry • Concern that the numbers generated related to development at Harbor Square are unrealistic in today's economic climate — too optimistic, not enough demand in marketplace — real estate market will not pull City out of current problems • Concern there no dollars in the presentation for other economic development efforts/activities • Do not show Harbor Square development as a method of generating revenue • Harbor Square Master Plan is 10 year plan, intent is to phase commercial, retail and residential. Numbers in LMN report Harbor Square Master Plan Draft conservative and reflect reality. • Show Harbor Square numbers/projections as an example of the type of revenue development could generate • Intent is to provide information regarding what Port -type development would generate because that information is available • Cite in the presentation that the estimates are from the Harbor Square presentation • Use Harbor Square numbers to quantify numbers in presentation • Avoid exacerbating the political situation • Capture housing demand by creating a product where people want to live • The reason businesses do not locate in Edmonds is lack of up-to-date space and required renovations • Economic Development Director work on branding the City • At the end of presentation, ask for a face-to-face meeting with the Council and a commitment • Organize the PowerPoint in story form, what the problem is, what other cities are doing, opportunities, what the Commission is willing/able to pursue, and inform the Council what they need to do • Include pictures of downtown, Hwy. 99, the Port, etc. Chair Yamamoto reviewed the EDC's priorities: • Find a way for the City's Economic Development Director position to devote full time to economic development activities and adequately fund proposed programs and activities • Initiate neighborhood business center plans for Westgate and Five Corners, rezone the areas to attract new businesses and residence • Develop a strategic planning process • Evaluate the Harbor Square Plan and support the process to start redevelopment with public involvement • Initiate and fund marketing plan for City owned fiber optic network • Appoint two Councilmembers to the EDC • Request the Council respond to the EDC at the EDC's February 17 meeting Economic Development Commission Approved Minutes January 6, 2010 Page 3 It was agreed Commissioners/Board Members would review the 2209 EDC/Planning Board Annual Report and provide any comments to Chair Yamamoto by Saturday, January 9 at 12:00 noon. Chair Yamamoto and a will meet to revise the PowerPoint and Report using the input provided. The PowerPoint and Report will be redistributed for review at the next meeting. 5. FUTURE AGENDA TOPICS The Commission agreed to meet on Wednesday, January 13 to review the PowerPoint and Report. 6. MISCELLANEOUS — None 7. AUDIENCE COMMENTS Ron Wambolt, Edmonds, suggested the EDC point out to the Council that redevelopment of Harbor Square will help to accommodate projected population growth. Fay May, Imagine Edmonds, explained they are a small, active group who care deeply about Edmonds and want Edmonds become all it can be. Imagine Edmonds sees 2010 as an opportunity to engage the community in an effort to keep as well as enhance what is special about Edmonds. Decisions made now will impact the future of Edmonds. She read from the Imagine Edmonds vision statement regarding attributes of Edmonds and involving the community. Jack Farris, Imagine Edmonds, commented the Commission and Planning Board's discussions align with Imagine Edmonds; they recognize that economic development is crucial due to the City's budget issues. He anticipated Imagine Edmonds could add value to this effort. 8. ADJOURN With no further business, the meeting was adjourned at 8:15 p.m. Economic Development Commission Approved Minutes January 6, 2010 Page 4