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DMC $200M Goal Reached and state money to start flowing

 Impact Lvl 1: Arts & Culture ; Economic Development ; Sustainability ; Transportation ; Vision/Identity
Public Report on Destination Medical Center (DMC) led by DMC EDA
Last modified: July 19, 2017

Contents

Highlights

Having reached the local investmen of $200M, the city will receive $2.75 for each $100 spent beyond the $200 million.

Contents

July 20, 2017 Status Per PB

"

According to the report filed with DEED, $297.7 million had been invested in local construction efforts during a four-year period starting in 2013.

Last year saw $145.3 million in private investment, with the largest share — $107.2 million attributed to Mayo Clinic spending. The nearly $38.1 million in additional private investment ranged from $12.5 million spent on the 501 on First Apartments to $200 used to alter a rental unit on Fifth Avenue Northwest.

Under DMC legislation, the city receives $2.75 for each $100 spent beyond the initial $200 million in private investment.

The funding will be the first of 20 annual state checks expected to help fund public infrastructure, which could include transportation efforts and public space redesigns.

Approval of the 2016 report means the city will see at least $2.68 million each year for two decades. Additional funding will occur each year with new reports of private investment.

Last year's report included partial investments in at least three projects that have since opened. In addition to the 501 on First project, it included nearly $5 million spent on First Avenue Flats, 400 First Avenue NW, and $6.3 million for Lofts at Mayo Park, 123 Sixth Avenue SE.

It also included $2 million spent on the Conley-Maass building at 14 Fourth St. SW, and $8.9 million on Flats on Fourth, 412 Third Ave. SE, which is still under construction.

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March 2017 Status

DMC Private Investment

 

 

$200 million goal reached

Per DMC Website 2017-03-21

Initiatives with the magnitude and impact of Destination Medical Center sometimes require board-level decisions to be made between official board of directors’ meetings. In instances like these, an executive committee is often charged with fulfilling limited board responsibilities to help maintain an organization’s momentum relative to time-sensitive issues and ensure projects continue to move forward as scheduled.

In January 2017, the Destination Medical Center Corporation (DMCC) Board of Directors approved a Resolution establishing an executive committee to do just that. As outlined by the Resolution, the committee may act only during intervals between board of directors’ meetings and is subject to the authority and direction of the full board.

The executive committee is governed by the same laws as regular board meetings and is limited on which decisions it can enact. For example, the executive committee cannot change the development plan, issue bonds, submit the annual report to the legislature, approve project funding requests, or amend the board articles of incorporation or bylaws. These functions, as well as those that include investment of public infrastructure funds, are the prerogative of the full board of directors, as outlined by DMC law.

Implementation of an executive committee allows the DMC Corporation to respond promptly to market activity while also providing the transparency expected of a private-public partnership. In a private-market-driven initiative, DMC must move as swiftly as community members, developers, investors, and other stakeholders would expect in order for DMC to succeed.

To better illustrate this need, let’s refer to the Alatus project. In December, the full DMCC Board of Directors approved the Alatus request under the condition that Alatus provide “proof of financing satisfactory to the board” for the public infrastructure funds to be available. This Thursday, the executive committee will hold its first meeting during which members will discuss the Alatus project’s financing plans on behalf of the board to keep the project moving forward.

Thursday’s meeting agenda will also include discussion of the annual Minnesota Department of Employment and Economic Development (DEED) filing concerning private investment within the DMC districts and the financial threshold of private investment that must be crossed before state DMC dollars will be released for public infrastructure improvements. The financial threshold of private investment is a time sensitive topic and will, therefore, be addressed at the executive committee meeting rather than delayed until a regular DMCC Board meeting takes place.

Public notice about DMCC executive committee meetings will be communicated in the same manner as other public meetings, including the City of Rochester website and the DMC website. Opportunity for public comment at executive committee meetings will be determined based on the agenda and noted as such. This week’s agenda will not allow for public comment.

The DMCC Executive Committee meeting will be held on Thursday, March 23, 2017, from 9-10 a.m. at the Mayo Civic Center in Meeting Room 101.

For more information about the meeting, including links to the meeting agenda, board packet, and live streaming of the board meeting, click here.

 

 

 

  

 

Related Reports

 

Other Destination Medical Center (DMC) Pinned Reports

October 16, 2024 : DMC 2025 Budgets
Impact Lvl1: Funding, Governance/Public Policy
Impact Lvl2:

2025 Budget and Workplan September DMCC Board Meeting

City Council Oct 2024 on DMC 2025 Budget

 


October 16, 2024 : 2024 Destination Medical Center Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

September 2024 DMCC Board Meeting with 2025 Workplan Breakout

May 2024 DMCC Board Meeting and City, County, DMC Joint Meeting

Feb 2024 DMCC Board Meeting


February 12, 2024 : Destination Medical Center (DMC) Investment Metrics Slow Down Trend
Impact Lvl1: Biotec, Business Process, Economic Development, Housing, Metrics, Sustainability
Impact Lvl2:

Feb 1, 2024 DMCC Board Meeting

Private investment metrics Slide

Video Clip

PB Reporting


December 13, 2023 : 2H 2023 Destination Medical Center (DMC) Meeting Informaiton
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November DMCC Meeting Info 

September DMCC Meeting Info

May DMCC Meeting Info 


October 01, 2023 : Destination Medical Center 3Q 2023 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

1. September 2023 DMCC Board Meeting:

2. Meeting Package,

3. Meeting Slides,

4. Video Recording 

5. Breakouts


March 23, 2023 : 1Q 2023 Destination Medical Center (DMC) Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

March 2023 Executive Committee Meeting;

Feb 9 2023 DMCC Board Meeting and City, County, DMC Collaborative Session


November 12, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Board Meeting: notable topics: Experience Metrics,  Soldier Fields, Equitable development, Discovery square, Heart of the City


November 11, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Diversity and Inclusion, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Meeting: Featuring Equity Development 


October 01, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2022 DMCC Board Meeting


September 13, 2022 : DMC Information
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

July 2022 Destination Medical Center Information Sheet.  


June 25, 2022 : May 18, 2022 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 2022 Proceedings and notable breakouts


February 05, 2022 : Destination Medical Center (DMC) 2022 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

February 3, 2022

DMCC Board Meeting

City, County, DMC Board Collaborative Session: Featuring Thomas Fisher

 


November 14, 2021 : Destination Medical Center (DMC) 2H 2021 Meetings
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 4,  2021

Project Discussion (City of Rochester, EDA: Experience metrics, Business Development, 

Project Updates: A. Heart of the City 27 B. Riverfront Reimagined 29 C. Rapid Transit Corridor Development 31 D. District Energy 33 E. McKnight Foundation Grants

 

September 20211 DMCC Board Meetings information.


May 20, 2021 : Destination Medical Center (DMC) 2021 Meeting Info
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 20 and March 23, 2021 DMCC Board Meetings


February 03, 2021 : Destination Medical Center (DMC) Joint Session
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Feb. 3, 2021 DMC Slide Decks and Recording


November 21, 2020 : November 2020 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

(1) November 2020 Board Meeting (2) 5 Year DMC Plan Updates and Covid Effects


November 19, 2020 : Destination Medical Center (DMC) Plan 5 Year Update
Impact Lvl1: Arts & Culture, Economic Development, Pandemic, Transportation, Vision/Identity
Impact Lvl2:

November Newsletter, 5 Year Plan Update draft, webinars on land investments, DMC status and Covid impacts. Reminder to comment on 5 year plan update 


September 26, 2019 : Destination Medical Center (DMC) September 2019
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2019 DMCC Meeting memo about metrics dashboard. 


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Pinned DMC EDA organization and project reports

. Project Report of Destination Medical Center (DMC) : October 16, 2024 : DMC 2025 Budgets
Impact Lvl1: Funding, Governance/Public Policy
Impact Lvl2:

2025 Budget and Workplan September DMCC Board Meeting

City Council Oct 2024 on DMC 2025 Budget

 


Project Report of Destination Medical Center (DMC) : October 16, 2024 : 2024 Destination Medical Center Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

September 2024 DMCC Board Meeting with 2025 Workplan Breakout

May 2024 DMCC Board Meeting and City, County, DMC Joint Meeting

Feb 2024 DMCC Board Meeting


Project Report of BioRochester and MedHub 3.0 : May 27, 2024 : DMC's BioRoch effort to Collaborate with MN MedTech 3.0
Impact Lvl1: CMRC, Diversity and Inclusion, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

DMCC Board Updates:

1. May 2024 Status Memo to DMCC Board  

2. Feb 2024 DMCC Board Meeting: Video Clip of Discussion at Feb 1 2024 DMCC Board - DMC part of MedTech 3.0; Memo to DMCC

3. Nov. 2023 Video Clip of Discussion at DMCC Board Meeting about MN MedTech 3.0 Description and Webinar

References: US DEA Tech Hub Awardees 


Project Report of Destination Medical Center (DMC) : February 12, 2024 : Destination Medical Center (DMC) Investment Metrics Slow Down Trend
Impact Lvl1: Biotec, Business Process, Economic Development, Housing, Metrics, Sustainability
Impact Lvl2:

Feb 1, 2024 DMCC Board Meeting

Private investment metrics Slide

Video Clip

PB Reporting


Project Report of Destination Medical Center (DMC) : December 13, 2023 : 2H 2023 Destination Medical Center (DMC) Meeting Informaiton
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November DMCC Meeting Info 

September DMCC Meeting Info

May DMCC Meeting Info 


Project Report of Two Discovery Square : November 30, 2023 : Discovery Square Shared Lab Infastructure
Impact Lvl1: Economic Development, STEM
Impact Lvl2:

A shared lab space for a community of like-minded entrepreneurs associated with one or more academic research partners


Project Report of BioRochester and MedHub 3.0 : October 23, 2023 : CMRC Support of Formation of a BioRochester Consortium
Impact Lvl1: CMRC, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

1. October 23, 2023 EDA Tech Hubs Awardees Announcement

2. Video Clip from CMRC August Mtg; CMRC Letters of Support; References: BioRochester Review meeting video; Summary of Draft 3 BioRochester Plan, and Final Grant Submission


Project Report of Destination Medical Center (DMC) : October 01, 2023 : Destination Medical Center 3Q 2023 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

1. September 2023 DMCC Board Meeting:

2. Meeting Package,

3. Meeting Slides,

4. Video Recording 

5. Breakouts


Project Report of BioRochester and MedHub 3.0 : August 10, 2023 : Rochester MSA Applying for Tech Hubs Grant Review Meeting
Impact Lvl1: CMRC, Diversity and Inclusion, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

Video Recording of Draft Review Session


Project Report of Destination Medical Center (DMC) : March 23, 2023 : 1Q 2023 Destination Medical Center (DMC) Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

March 2023 Executive Committee Meeting;

Feb 9 2023 DMCC Board Meeting and City, County, DMC Collaborative Session


Project Report of America's City for Health : February 25, 2023 : Use of "America City for Health" as moniker to attract DMC investment
Impact Lvl1: Business Process, Commitment, Diversity and Inclusion, Governance/Public Policy, Mental Health, Workforce Development
Impact Lvl2:

Feb 2023 Business Development status; Nov. 2021 Presentation to DMCC Board in November 2021 Board Meeting. Focus on attracting more companies coming in.  America City for Health as lead generation asset. 


Project Report of Adminstration of Rochester's 3.12M award from Minnesota Main Street Economic Revitalization Program : December 21, 2022 : Administration of Rochester's 3.12M award from Minnesota Main Street Economic Revitalization Program
Impact Lvl1: Diversity and Inclusion, Economic Development, Entrepreneurship, Funding
Impact Lvl2:

(1) Second Phase Grant; (2) DMC Announces First Recipients of Main Street Grant Funding 30 Businesses ($1.6M) ; (3) Launching of Main Street Grant 


Project Report of Destination Medical Center (DMC) : November 12, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Board Meeting: notable topics: Experience Metrics,  Soldier Fields, Equitable development, Discovery square, Heart of the City


Project Report of Destination Medical Center (DMC) : November 11, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Diversity and Inclusion, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Meeting: Featuring Equity Development 


Project Report of DMC Discovery Square : November 11, 2022 : DMC Discovery Square Design Process
Impact Lvl1: Biotec, Diversity and Inclusion, Economic Development, Entrepreneurship, Education
Impact Lvl2:

Discovery Square Status to DMCC November Board Meeting: 6 Elements of Success


Project Report of Destination Medical Center (DMC) : October 01, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2022 DMCC Board Meeting


Project Report of Destination Medical Center (DMC) : September 13, 2022 : DMC Information
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

July 2022 Destination Medical Center Information Sheet.  


Project Report of Destination Medical Center (DMC) : June 25, 2022 : May 18, 2022 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 2022 Proceedings and notable breakouts


Project Report of Discovery Walk Co-designing : May 09, 2022 : Community Co-Design Toolkit
Impact Lvl1: Best Practice, Civic Engagement, Diversity and Inclusion, OpenBeam, Vision/Identity
Impact Lvl2:

As a member of the Community for Health Steering Committee and piloting the use of co-designing in the Discovery Walk project, OpenBeam participated in developing the Community Co-Design Toolkit as a guide for other community projects to consider and adopt a co-design process to maximize inclusive engagement. 


Project Report of Destination Medical Center (DMC) : February 05, 2022 : Destination Medical Center (DMC) 2022 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

February 3, 2022

DMCC Board Meeting

City, County, DMC Board Collaborative Session: Featuring Thomas Fisher

 


Project Report of America's City for Health : January 22, 2022 : ACH 2022 Info Log
Impact Lvl1: Aging, Best Practice, Business Process, Civic Engagement, Commitment, Diversity and Inclusion, Governance/Public Policy, Health, Housing, International, Intelligence, Mental Health, OpenBeam, Sustainability, Technology Enablement, Transportation, Workforce Development
Impact Lvl2:

January 2022 Meeting Review Workgroup purpose (mission, vision, and values) and OpenBeam comments. 


Project Report of Destination Medical Center (DMC) : November 14, 2021 : Destination Medical Center (DMC) 2H 2021 Meetings
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 4,  2021

Project Discussion (City of Rochester, EDA: Experience metrics, Business Development, 

Project Updates: A. Heart of the City 27 B. Riverfront Reimagined 29 C. Rapid Transit Corridor Development 31 D. District Energy 33 E. McKnight Foundation Grants

 

September 20211 DMCC Board Meetings information.


Project Report of Discovery Walk Co-designing : May 27, 2021 : Discovery Walk
Impact Lvl1: Arts & Culture, Best Practice, Diversity and Inclusion, Interaction, Recreation & Open Space, Welcoming
Impact Lvl2:

March 2021 DMCC approval for Bid


Project Report of Destination Medical Center (DMC) : May 20, 2021 : Destination Medical Center (DMC) 2021 Meeting Info
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 20 and March 23, 2021 DMCC Board Meetings


Project Report of Destination Medical Center (DMC) : February 03, 2021 : Destination Medical Center (DMC) Joint Session
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Feb. 3, 2021 DMC Slide Decks and Recording


Project Report of Discovery Walk Co-designing : December 10, 2020 : Co-designing of Discovery Walk Concept
Impact Lvl1: Diversity and Inclusion, Health, Recreation & Open Space
Impact Lvl2:

Summary of Co-design of Discovery Walk and Codify the co-design process. 


Project Report of Destination Medical Center (DMC) : November 21, 2020 : November 2020 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

(1) November 2020 Board Meeting (2) 5 Year DMC Plan Updates and Covid Effects


Project Report of Destination Medical Center (DMC) : November 19, 2020 : Destination Medical Center (DMC) Plan 5 Year Update
Impact Lvl1: Arts & Culture, Economic Development, Pandemic, Transportation, Vision/Identity
Impact Lvl2:

November Newsletter, 5 Year Plan Update draft, webinars on land investments, DMC status and Covid impacts. Reminder to comment on 5 year plan update 


Project Report of America's City for Health : December 20, 2019 : 2019 Community for Health Workgroup Log
Impact Lvl1: Best Practice, Business Process, Civic Engagement, Health
Impact Lvl2:

DMC EDA initiated Community For Health group effort notes 2018 and 2019 logging of notes and activities. 


Project Report of Destination Medical Center (DMC) : September 26, 2019 : Destination Medical Center (DMC) September 2019
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2019 DMCC Meeting memo about metrics dashboard. 


Project Report of DMC Dashboard : August 27, 2016 : DMC Dashboard With Data
Impact Lvl1: Best Practice, Economic Development, Metrics, TBD
Impact Lvl2:

In August DMCC Board meeting, the following DMC Dashboard material was presented.


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Site Information
Project Phase Definitions
The following defines the various project phases:
  1. Available - a product, program or service is in production
  2. Develop - program or application is being developed
  3. Plan - idea is solid, stakeholders are identified, and there is strong commitment to go forward from all parties.
  4. Concept Phase - idea scoped out with enough details to give an early sizing and/or to build a proof of concept
    demonstration
  5. Pre-concept Phase - an early idea or a requirement.
About Beam

Community Beam (dmcbeam.org) is a registry of private and public resources (organizations, projects, initiatives, programs) that underpin economic and social developments of greater Rochester:

  • For the commercial sector, we tend to register startup activities (new companies and new commercial projects) that bring diversification and high-impact opportunities to the area.
  • For the non-profit sector, we wish to shine light on all the organizations and services that otherwise labor under relative obscurity.
  • Our hope is that dmcbeam.org will encourage cross-sector collaborations and creative solutions.

While there are a number of registries in the community, dmcbeam.org's  distinct value is to pilot a database with a data structure and categorizations that answer the questions such as: What organizations or projects/programs in our community that have purported relevance with some of the over-arching focuses put forward by initiatives such as DMC, J2G and Health Improvements?

This database could be used as one of the ways to explore the capacities of the community. If you are someone on an exploratory journey to learn about the greater Rochester community. dmcbeam.org could be an interesting first step.

Links to Beam sub-sites 
Sample of Beam sub-sites: