DMC Corporation Board Ends Year with Momentum and a New Board Member

ROCHESTER, Minn.  – At today’s board meeting, the Destination Medical Center (DMC) Corporation Board of Directors completed 2015 with a discussion on a range of topics, including updates on Discovery Square and Heart of the City, and from the City of Rochester on the proposed development of a Second Street Holiday Inn and Suites. The Center for Energy and Environment presented its recommendations for energy and sustainability within the development district.

It was announced Board member Bill George is stepping down from the DMC Corporation Board. George remains a member of Mayo Clinic’s Board of Trustees, but his seat as the Mayo Trustee representative will be filled by Michael Dougherty, Founder and Chairman of Dougherty Financial Group LLC.

“On behalf of the DMC Corporation Board, I want to thank Bill George for his service and commitment to during these past two years. His insights have been invaluable in guiding the development of the DMC strategy,” said Lt. Governor Smith. “I’m pleased to welcome Mike Dougherty to the Board. Mike brings a wealth of financial and healthcare experience that will help guide the project into its next phase.”

Heart of the City and Discovery Square are two of the top priorities for DMC. DMC EDA Executive Director Lisa Clarke provided an update on activity within the Discovery Square sub-district, including the feasibility study, which will be completed in early 2016. The study indicates Discovery Square’s viability and potential to serve as a key incubator of new technology particularly in the medical device and bioscience areas. The Heart of the City sub-district will be a place of connected spaces and urban experiences building upon the convenient and walkable attributes of the city. The RFQ process will select a qualified design firm to assist with the design for the public spaces of the Heart of the City.

Rochester City Council President Randy Staver presented the city’s request for the DMC Corporation Board’s authorization of the use of the DMC tax increment financing provision for a shared parking lot and possible tunnel for a Holiday Inn project in the St. Marys Place sub-district. The Board adopted a motion to continue the discussion until its next board meeting, which could be a special meeting, and to establish a work group to develop a recommendation.

In its DMC Coordinated Energy Plan Recommendations, the Center for Energy and Environment offered a series of recommendations, including establishing Heart of the City and Discovery Square as the Sustainable Energy Zone. According to the Center, the recommendations would lead to carbon neutrality within the Zone after 2031 for non-transportation electric use. In July, the DMC Corporation Board approved receiving a grant from the McKnight Foundation to begin its energy and sustainability initiative. The grant aims to address efficient energy usage and environmental sustainability goals related to creating a more sustainable future for Rochester and the DMC.

The next DMC Corporation Board meeting is scheduled for Thursday, March 24, 2016, at 9:30 a.m.