ROCHESTER, Minn. (April 18, 2016) – At today’s special board meeting, the Destination Medical Center (DMC) Corporation Board of Directors discussed the DMC development process and heard updates from the DMC Economic Development Agency (EDA) and the City of Rochester on development and investment activity within the DMC District, including two DMC priorities — Discovery Square and Heart of the City.
As part of the new DMC development process, the DMC EDA staff has been working with City of Rochester staff and the development community to prepare a developer resource guide. The guide includes tools and resources to assist developers as they consider development opportunities within the DMC District, including information on the project review and approval process and potential funding sources.
“As a developer, I am both confident and excited the process will ensure consistency and quality of development in line with the DMC development plan and vision,” said Nick Pompeian, commercial real estate broker/developer with Realty Growth Inc., who assisted the DMC EDA and the City of Rochester in creating the new development process.
The DMC Corporation Board also approved a resolution to establish a technical advisory committee, known as the Energy Integration Committee, to make recommendations and take actions to ensure successful implementation of the climate and energy vision within the DMC District. As the committee undertakes its work, the DMC Corporation Board will receive regular updates.
In other business, the DMC Corporation Board officially approved the 2015 private investment report to the Minnesota Department of Employment and Economic Development. The report shows $152.4 million in private sector investment in Rochester since July 1, 2013.
The DMC Corporation Board welcomed two new members to the Board – Michael Dougherty, Founder and Chairman of Dougherty Financial Group LLC, and Mark Hickey, Member of the Rochester City Council.
The next regularly scheduled DMC Corporation Board meeting is set for Thursday, May 26, 2016, at 9:30 a.m.