09-10-2007 EDA MIN - Laserfiche WebLink

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Economic Development Authority Ivtinutes September 10, 2007 Page 4 letters sent. Commissioner Farber concurred noting that he does not believe afull-blown restaurant strategy is necessary but that something should be done. Community Development Director Scott Clark stated that sending letters may not be an effective approach. He indicated that based on his experience and research restaurants aze inundated with these types of requests and that a comprehensive approach should be looked at if the EDA is serious about restaurant marketing. Commissioner Faxbex stated that staff should do what is necessary to recruit restaurants. He noted that he believes once a major restaurant comes that additional restaurants will follow. Ms. Steinmetz confirmed that the EDA is not interested in approving a marketing plan and that the approach they would like for staff to take is to cold call, send letters, and continue discussions with developers. The EDA affirmed this approach. She stated that staff would like a scope of the type of restaurant mazket the EDA is interested in. Commissioner Motin suggested surveying the public on what types of restaurants they would like to see. Ms. Steinmetz explained that staff has received results of a survey that a local developer conducted regarding the type of restaurants people would like to see in Elk River. Commissioner Tveite questioned if the city is interested in subsidizing a restaurant. He explained that major restaurant chains will not locate in Elk River unless we meet their demographic standards and that no effort, short of subsidizing, wdl bring them to Elk River. Commissioner Klinzing questioned what incentives restaurants would be looking fox Elk River to offer. Commissioner Dwyer explained that the restaurant business is a difficult one to make it in. He stated that the city's policy has been to not subsidize commercial and he believes that policy should be followed. Commissioner Zerwas stated that he would like to keep the options open. Ms. Steinmetz questioned if the EDA is interested in purchasing property and reserving it for restaurant development. She also questioned if the EDA is interested in hiring a restaurant broker. She explained that the broker would get the city's foot in the door because they have key contacts in the restaurant industry. President Gongoll stated that he is more interested in hiring a broker than purchasing land and holding it. Commissioner Tveite concurred. Ms. Steinmetz stated that staff will come back with a detailed proposal ut October from a restaurant broker. 5. ether Business There was no other business.