04:01The meeting commenced with an update on the hotel study, a crucial initiative funded by the Zumbrota Economic Development Authority. A payment of $9,000 had already been processed for the study, which will be conducted by HBS, a consulting firm selected for the task. The estimated cost of the study is around $9,500, with potential additional costs bringing the total to approximately $14,500. The study, expected to conclude within 60 days, will evaluate potential hotel locations throughout the city. The insights from this study are anticipated to guide decisions about the hotel’s location, with suggestions pointing towards the 52 corridor as a promising site.

11:16Dan from Rebound, an organization dedicated to fostering economic growth, presented compelling data on the economic impact a new hotel could have on Zumbrota. He illustrated the potential for job creation during the development phase and the ongoing economic activity once the hotel becomes operational. Dan emphasized that Zumbrota’s hotel would likely be smaller, with previous studies indicating a preference for a 50-room capacity.

15:37Parallel to the hotel discussion, the meeting highlighted significant interest from restaurant groups eager to enter the Zumbrota market. Groups such as Blue Duck and the Loop Group are exploring the establishment of dining venues in the area, driven by a recognized demand for restaurants that operate extended hours. This interest is particularly motivated by the lack of dining options available after local sporting events, a gap that these potential new establishments could fill. The dialogue underscored the community’s desire for diverse dining options that cater to the needs of residents and visitors alike.

21:58Investment strategies were another focal point, with discussions advocating for a balanced approach that includes multiple projects rather than concentrating solely on one area of development. This strategy aims to create a more sustainable and diversified economic environment. The conversation also touched on community engagement. The role of knowledgeable individuals in guiding these investment discussions was noted, including a mention of Brett for his expertise in economic development.

29:31Concerns about the overall health of the local economy led to discussions on the necessity of diverse investments, including housing, new dining options, and potentially a laundromat. Participants emphasized a need for a combination of large-scale projects alongside smaller initiatives to ensure comprehensive economic growth. A significant challenge identified was the limited availability of daycare facilities, with references made to a new “pod style” daycare in Faribault serving as a potential model for Zumbrota.

33:11Additionally, an update was provided on the Keller Bartman apartments, with Andy Bartman reviewing a Tax Increment Financing (TIF) development agreement. Although progress is being made, it is contingent on Bartman’s review and approval of the TIF.

05:08Another topic of interest was the potential use of billboards as a marketing tool for Zumbrota. A representative presented various billboard options, including locations on Highways 63 and 52, and provided cost estimates of approximately $500 for a four-week billboard, with production costs potentially reaching $1,152. The Economic Development Authority has previously spent around $3,000 on a 16-week billboard campaign, and members were encouraged to prepare preferences for the next meeting, where a decision will be made whether to proceed with billboard advertising.