11-12-2002 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes November 12, 2002 Page 3 President Gongoll opened the public hearing. There being no one for ox against the matter, President Gongoll closed the public hearing. COMMISSIONER TVEITE MOVED TO ADOPT THE CITY OF ELK RIVER BUSINESS SUBSIDY POLICY. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 7-0. Strategic Industrial Maxketin ~letivities Update Economic Development Assistant Heidi Hall presented an update on strategic industrial marketing activities. 7.1. Industrial Land Development Director of Economic Development Catherine Mehelich indicated that the Strategic Industrial Marketing Plan recommends that the EDA consider dedicating city-owned land with utilities for industrial development. An alternate recommendation of the plan includes dedicating one of the current business parks to industrial development if the landowners axe willing to sign a joint marketing agreement. Catherine stated that staff is requesting feedback and direction for staff to explore the following options: Alternative strategies for working with private landowners of business pazk properties Strategy for the development of the EDA's property located off of Twin Lakes Boulevard Catherine stated that a work session fox further discussion on this issue could be scheduled fox a future EDA meeting. Commissioner Kliuzing indicated that at the time the EDA-owned business park property was being established, the City indicated that it would not be interested in competing with existing privately owned property. The City needs to look seriously at entering into the realm of competition. Commissioner Dwyer indicated that he is interested in exploring the option. President Gongoll concurred, but noted that we must also look at what kind of message this sends to developers. It was the consensus of the EDA to discuss this further at a work session sometime in January. 8. Business Finance Pro ams Update Catherine Mehelich updated the EDA on business finance programs that the EDA accesses to leverage some of the funds that aze provided locally. She talked about the MN Investment Fund and NIN Community Capital Fund.