8. EDSR 10-08-2012 - Laserfiche WebLink

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Principal Terry Bizal, industrial technology instructors and area manufacturer's to provide a forum in which the school can solicit input on future industrial tech courses and curriculum. Staff will provide further updates as they arise. Granite Shores Staff attended a broker's event held by Granite Shores to discuss their commercial space. Area and metro brokers were invited to provide input and suggestions to fill the vacant space. Three brokers attended the lunch,and it was the consensus of the group that filling the space with retail and/or commercial would be extremely challenging. Their work with retail/commercial tenants indicate their desire to be along HWY 169,not HWY 10. They indicated that limited parking was a major deterrent and encouraged soliciting executive type office uses. The brokers also indicated Granite Shore lease space was considerably higher than all other available space in the area, and highly encouraged Granite Shores to accept and work with any and all offers they received from potential tenants. Staff provided community information,downtown parking maps and incentive information to the brokers. On September 26, Granite Shores held invited downtown business owners to their community meeting room to meet with their residents and promote their business. Jim Soderberg,owner of Granite Shores, came to the October HRA meeting and provided an update on the building. All 67 units are rented,and construction is underway to create executive office space in the west portion of the commercial space on the first floor. Mr. Soderberg also supplied additional information and demographics to the EDA (attached to staff report). EDA Micro Loans The first Energy Efficiency Improvement Micro Loan closed at the end of August 2012. Applicant, Pamela Sitts, of P.S...Dance Studio is currently working on the improvements and anticipates moving into the building sometime in November. At their September 10 meeting,the EDA authorized a sub-committee formed off EDA Commissioners Tveite,Dwyer and Provo to discuss use of the $703,000 DTED fund balance as a potential forgivable grant program as an incentive to promote available city/EDA owned lots and to help existing manufacturer's to expand. Rough guidelines were compiled and staff will work with the state to get approval. Once approved,the EDA Finance Committee will review and ultimately the EDA will approve. State approval may take a month or so. Greater MSP Greater MSP is a private-public partnership funded by businesses, institutions,and government,whose mission is to stimulate economic growth and prosperity,and higher quality of life for residents in the Metropolitan region. We have been working with GreaterMSP on potential leads and have provided them with information regarding our available sites and funding programs. Greater MSP will be holding its first annual Investor and Partner meeting on November 5th at 5:00pm at the Guthrie Theater in Minneapolis. If interested in attending,please let staff know. This is a free event. MN Community Capital Fund(MCCF) Staff met with Scott Martin President of the Minnesota Community and Capital Fund(MCCF) to discuss business financing options available from the MCCF. Elk River is a Class B member which means that it can originate loans up to $500,000 through the MCCF. Staff has provided this information to local N:\Departments\Community Development\Economic Development\EDA to move\Agenda\Year2012\10-8-12 EDA Agenda\Executive Director update 10-8-12.doc.docx