02-09-2004 EDA MIN - Laserfiche WebLink

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Economic Development Authority ;Vlinuxes Page 2 February 9, 2004 ~. Strategic Industrial Marketing Activities Report Assistant Director of Economic Development Heidi Steinmetz presented the staff report. She noted that the three main objectives of the Strategic Industrial Marketing Plan aze to attract growth-oriented, light industrial businesses which would increase and diversify the tax base, complements the existing industrial base, and guides prospective clients through the entire site selection and development process which builds long-term relationships. She mentioned the marketing strategies as being the product-offering strategy, competitive strategy, key accounts/lead generation strategy, promotions and advertising strategy, public relations strategy and business retention strategy. She stated that the marketing activities update is looked at and followed by staff day-by-day with a monthly report given to the EDA. 6. Consider Concept Approval of the following Expansion Siting Proposals 6.1. Prospect - Orluck Industries, Inc. Director of Economic Development Catherine Mehelich reviewed with [he Commission the Preliminary Expansion Siting Proposal that was submitted by staff to Oxluck Industries, Inc. regarding the company's proposed expansion and relocation project. Staff has proposed that the City sell its city-owned Joplin Street lot to Oxluck Industries for the construction of alight industrial/business park building. Oxluck Industries is requesting the City and County provide Tas Rebate Financing (TRF) in order to write-down the land cost to $0. Ms'. Mehelich distributed the Economic Development Tax Rebate Financing Policy, a copy of the Orluck Industries, Inc. completed application, and a copy of their preliminary site plan. Mark Orluck, President of Oxluck Industries, Inc., proposes to construct an approximately 23,000 square Foot building, in which his company would occupy 13,000 square feet with the balance leased to business park district eligible users. His company conducts hght, precision machining of plastic and metal components for the medical, computer, semi-conductor and telecommunications industries. In addition to writing down the cost of the land, a land use amendment must also be processed by the City. While the zoning is Business Park, the underlying land use is Community Commercial. The land use must be changed to Light Industrial for the project to move forward. Ms. Mehelich reviewed the TRF Proposal Review VG'orksheet and the project rankings that were given. Thirty points (out of a total possible of 45 points) were awarded to this project. Ms. Mehelich stated that Ehlers and Associates, Inc. has reviewed the initial numbers and told hex that in regards to equity they did not see any additional inflated numbers and the EDA should consider that other tides do not have equity requirements. She stated that she feels that $50,000 is a fair number to start with,and realizes that this could set a precedence and deviation from [he 20% requirement for TRF projects. She stated that after this has gone forward with the approval from Council, a public hearing would be scheduled. Commissioner Motin stated that he would like to see the project not limited to a certain number of square feet and suggested perhaps requiring expansion to take place within so-