10-11-2004 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Ocober 11, 2004 Page 2 • A summary report comparing Elk River with key competitor communities will be provided at the November EDA meeting. • An ad featuring Display Solutions appeared in the September 24~h issue of The Business Journal. • A direct mail piece was distributed to manufacturers in the tti-county area to promote the Micro Loan Program and Technical Assistance Program. The City's website was updated to coordinate with the direct mail effort. • A recognition event for Minnesota Manufacturing and Technology Week is scheduled for October 19~h. Commissioner Dwyer asked if the EDA's Micro Loan application was available on the Website. Ms. Steinmetz stated no, and explained that staff feels that direct contact with a potential client is preferred. Also, she noted other communities may duplicate the City's programs, if the application was available online. Ms. Steinmetz also noted that a full page "thank you" ad will be printed in the Elk River Star News during Minnesota Manufacturing and Technology Week. 6. Consider Adoyrion of 2004-2007 Economic Development Strategic Plan Ms. Mehelich reviewed highlights of the following issues identified in the work sessions to update the Economic Development Strategic Plan: 1) Industrial Development; 2) Central Business District; 3) Transportation; and 4) Commercial Development. (Commissioner Tveite amved at this time - 5:40 p.m.) In regards to the Industrial Development Strategies, Commissioner Klinzing felt that the references to TIF, Tax Rebate Financing, and Micro Loans, should be taken out, since these tools are aheady being used. She fek that they should be looking for other incentives to encourage development. Commissioner Gongoll concurred. Commissioner Morin suggested that another "bullet" be added and the words "Promote/enhance TIF, Tax Rebate Financing and Micro Loans". Commissioner Klitrzurg questioned the statement under the Transportation section, "Object to any Highway 10 bypass of Elk River." Commissioner Moon stated that their intent was that a bypass would be detrimental to the downtown and existing Highway 10 businesses. Discussion followed regarding possible impacts of road proposals currently under consideration by MnDOT. Commissioner Motin noted that the City has akeady approved an east-west comdor to the north, as part of the Transportation Plan. MOTION BY COMMISSIONER TVEITE, SECONDED BY COMMISSIONER KOENIG TO APPROVE THE 2004-2007 ECONOMIC DEVELOPMENT STRATEGIC PLAN, WITH THE CHANGES AS NOTED IN THE DISCUSSION. MOTION CARRIED 7-0. City Council Goal Setting Work Session with Boards and Commissions Director of Economic Development Mehelich noted that the EDA is asked to provide input at the joint Boards and Commissions meeting on their goals and projects as identified in the Strategic Plan.