The Destination Medical Center Corporation (DMCC) board will hold its regularly scheduled meeting at 9:30 a.m. on Thursday, March 24 at the Mayo Civic Center.
Almost a year has passed since the DMC Development Plan was approved, and much progress has been made. Private sector response and investor activity have increased significantly, illustrating the commitment of investors, developers, and Mayo Clinic to ensure the success of DMC and enhance the opportunities in Rochester.
At Thursday’s meeting, the board will review a draft report of 2015 which includes private investment in the DMC District to the Commissioner of the Minnesota Department of Employment and Economic Development (DEED) and the Minnesota Legislature.
DEED is responsible for tracking the $585 million in public dollars allocated by the State of Minnesota for the DMC economic development initiative. DEED must also certify the first $200 million in private investment before public dollars will become available.
The board will also receive an update from the DMC Economic Development Agency (EDA) on the DMC development process. They will hear updates on several projects within the DMC District, including Discovery Square and Heart of the City (two of the top priorities for DMC over the next five years) as well as St. Marys Place and the Chateau Theatre.
DMC EDA board chair Jeff Bolton will present the findings from the recently completed Discovery Square feasibility study, and DMC economic development and placemaking director Patrick Seeb will update the Board on the Request for Qualifications (RFQ) for the public spaces of the Heart of the City. The RFQ process will select a qualified design firm to assist with the design of the public spaces of Heart of the City.
The DMC Corporation Board will also welcome two new members – Michael Dougherty, founder and chairman of Dougherty Financial Group LLC, and Mark Hickey, a member of the Rochester City Council.
The DMCC meeting can be viewed live online here or followed on Twitter.