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Economic Development Authoxit5- Minutes September 11, 2006 Page 2 Director of Economic Development Catherine Mehelich introduced Murat' Wolf of \~'olf Marketing & Media. Mr. Wolf reviewed the various components of the Plan, including the following: • Assessment of results of Strategic Industrial Marketing Plan 2002-2001 Action Plan • 2007-2009 Action Pian • Project Background acid Research Methodology • Overall Business Envixonmeut • Target Markets: Primary -Manufacturers • Target bfarkets: Secondan--Industrial Brokers • Competitors • City of Elk River Goals and Objectives • Strategies and Tactics -Strategies 1 - ~ • Tracking and Measurement ~1r. y't'olf noted that he received very positive feedback in the intere-iews. Only a couple of complaints were received relating to vin' process, and he believes that good progress has been made in this area since the hiring of a Community Development Director. He also noted that most people he interviewed were not in favor of loosening the ciij•'s standards, as this would have a negative impact on existing businesses and ti~eix investment. Commissioner Tveite stated that the primary concern of the Marketing Committee is the need fox more industrial land. Commissioner Motin stated that there is a potential issue of depleting possible industrial property with commercial/retail uses. He felt they need to examine the best strategy fox both needs. Discussion followed regarding the use of industrial brokers to market cities. Mr. Wolf stated that they could consider other types of compensation fox brokers bringing new clients to the city, on a case-by-case basis. He noted that if the city is going to consider some type of compensation, they need to communicate it to the brokers. President Gongoll asked if the Marketing Committee will continue to be involved in implementing the Marketing Plan. Ms. Mehelich stated that she did not see a need fox them to meet at this time and that staff will proceed in implementing their recommendations. Ms. Mehelich noted that the EDA did pay a broker fee as part of the commission for two of the three Northstax Business Park developments. President Gongoll stated that he was impressed with the results of the Plan completed by Wolf Marketing & Media. He stated he would also like to recognize the Marketing Committee fox their work. President Gongoll stated he agreed with Commissioner Taeite that more industrial land is needed in order to implement the plan. He felt that business retention should also be high on the priority list. He suggested a survey of existing businesses to see where they axe at now, and what their plans axe fox the future. President Gongoll stated that he understood that the City cannot create a demand fox a fine dining restaurant, since this is a tough sector of the market to attract. He felt that in order for the City to be successful, they need to be proactive politically in advancing the City's transportation system. President Gongoll expressed his appreciation to staff, stating that the positive feedback the City received was a