I meant to respond to this, read it and spaced it, sorry.
I'm a firm believer that there are enough people in the twin cities metro to support multiple maker spaces. I think we have the potential to become one of the most "makery" cities in the country. We've got an awesome confluence of education, geek-centric employers, and 10 month winters that encourage projects.
I am under the impression that our lease is up again this summer, either in June or July.
I think the time to start planning for the future is now.
I'm going to be putting "discuss possibility of moving to a new space" on the agenda for our next board meeting, which should be taking place on Tuesday, December 13th (if my calendaring skills are correct).
In addition, The Mill now has its site up: http://www.mnmill.org/
There's some handy info there about gear and mission.