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Economic Development Authority Minutes Page 2 <br />April 14, 2003 <br />No one appeared for open mike. <br />5. Strategic Industrial Marketing Activities Update <br />Economic Development Assistant Heidi Hall provided the strategic industrial <br />marketing activities update. Commissioner Kuester questioned how the results <br />from the manufacturer site visits would be compiled and summarized for the <br />EDA. Director of Economic Development Catherine Mehelich stated that staff <br />keeps notes of the visit in the file and she suggested that EDA members who <br />have visited the company provide a brief verbal report of the meeting at EDA <br />meetings. Commissioner Kuester suggested that information from the visits be <br />summarized and reported in some manner for the EDA to understand trends <br />and issues affecting the businesses. <br />Commissioners Tveite and Dwyer commented on recent visits to Custom <br />Cutter Grinding. President Gongoll commented on M&M Machines visit. <br />6. S~ortech Expansion Project Update <br />Ms. Mehelich provided a report on the status of the Sportech expansion project <br />in regard to the grant application to the MN Department of Trade & Economic <br />Development's MN Investment Fund program. She noted that the grant <br />application has been submitted and a response is anticipated within the next <br />week. <br />Industrial Park Development Options Update <br />Ms. Mehelich provided an update on the analysis of industrial land <br />development options. She noted that staff has experienced two primary barriers <br />to successfully recruiting small to medium sized light industrial development in <br />Elk River which consist of "availability of 1.5 - 2 acre lots" and "land costs." <br />Ms. Mehelich indicated that Opus Northwest and Ryan Companies have <br />recently provided information regarding what an industrial business can <br />typically afford to pay for land costs of a development-ready site. She suggested <br />that staff provide this analysis to the EDA Marketing Committee for review, <br />discussion, and recommendation. She indicated that following the review of the <br />Marketing Committee, the information would be provided to the EDA. <br />Gary Santwire, 200 5`h Street Elk River, representing Equity Management and <br />Rivers Crossing addressed the EDA. Mr. Santwire spoke about the light <br />industrial property that he developed on East Highway 10 and on Joplin <br />Avenue. He indicated that both buildings were subsidized, one by tax <br />