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EDA reviews annual reports and economic activity: vacancies fall, 14 new businesses, multifamily leasing mixed
Summary
City staff presented annual reports showing 14 new business openings, commercial vacancies down to 23 from 31, about 470 rental units tracked through the first two‑year licensing cycle, and multifamily activity (Bohemia Flats at roughly 50% leased of 54 units).
Ken presented the EDA’s annual business and housing reports, saying the city recorded 14 new business openings and 32 business closings or changes over the past year, while commercial vacancies decreased to 23 from 31 the year before.
Ken said the city is still thin on marketable single‑family lots — about 21 residential lots are technically available but only eight to 10 are realistically marketable — and that much of the residential permit activity in 2025 centered on a 54‑unit apartment project. He said Bohemia Flats is about 50% leased.
On commercial activity, Ken highlighted several new or renovated businesses and projects, including Brickside 19 (in the former Smoke and Fire/Arboni’s building), Bros Event Venue, Berg Direct Primary Care, and Heartland Credit Union (a new building under construction). He said the city had about 16.3 acres of commercial land and seven available commercial lots.
Ken also reviewed the city’s first full two‑year cycle of rental licensing and inspections, which now tracks roughly 470 rental units (mostly single‑family) and has prompted corrections such as adding smoke and CO detectors and addressing egress issues. He said the inspections helped staff address serious conditions, in some cases intervening before problems rose to the level of public‑health or child‑welfare concerns.
The report also looked at industrial‑park performance: staff said employment in the park rose from about 227 to 301 over three years, driven by several expanding firms. Staff noted property valuations and tax receipts improved during the period.
Board members thanked staff for the reports and said they would use the information to guide future EDA priorities and outreach to prospective developers.
