HomeMy WebLinkAboutResolution No. 132-25 - Resolution - DMC Funds BioLabs Shared Lab Space
RESOLUTION
Authorization Approving Expenditure of Destination Medical Center (DMC)
Strategic Redevelopment Funds in Support of the BioLabs Shared Lab Space
Project
WHEREAS, the Development Plan adopted by the Destination Medical Center
Corporation (DMCC) on April 23, 2015, as amended, (the “Development Plan”)
established certain goals and objectives of economic development, which include
creating approximately 35,000 – 45,000 new jobs, leveraging the public investment to
attract private investment, attracting new business, and expanding existing businesses,
as well as implementing strategies to attract, retain, and foster the development of a highly
skilled workforce. The Development Plan also directed a comprehensive strategy to
address all facets of building and sustaining the development district boundaries as
adopted in the Development Plan; and
WHEREAS, the BioLabs Shared Lab Space Project is a transformative addition to the
Destination Medical Center (DMC) innovation district in downtown Rochester. The
project proposes the development of approximately 16,000 square feet of high-quality,
robotically-optimized shared laboratory space on the third floor of Two Discovery
Square, located at 415 2nd Avenue SW: and
WHEREAS, the BioLabs Shared Lab Space Project is envisioned as more than just a
lab—it will be a collaborative community that fosters innovation, accelerates company
formation, and fuels economic growth. This project is well-aligned with DMC’s strategic
goals of nurturing the local innovation ecosystem, enhancing Rochester’s global
competitiveness, and diversifying its employment base. As the only BioLabs location in
the Midwest, the facility will position Rochester as a regional anchor for life sciences,
attracting entrepreneurs, funding, and talent from across the country
WHEREAS, the BioLabs Proposed Project supports the economic strategies of the
Development Plan by providing uses and amenities that support strategic growth in the
DMC Development District and/or specific business development and economic
development strategies that are adopted as part of the Development Plan.
WHEREAS, the DMCC Board approved the use of DMC Strategic Redevelopment Funds
in support of the BioLabs Shared Lab Space Project at their May 22, 2025, DMCC
meeting in the amount of up to $8,000,000; and
WHEREAS, the City of Rochester is recommending to the Rochester Common Council
to approve the up to $8,000,000 in DMC CIP Strategic Redevelopment fund to support
the Loom Apartments Project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Rochester,
MN, that the Council authorized the use of up to $8,000,000 from the DMC CIP Strategic
Redevelopment fund for the proposed Loom Apartments Project.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2025.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2025.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)