6.1. - 6.4. PCSC 10-26-2004 - Laserfiche WebLink

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Elk River Business Park EDA Meeting October 11, 2004 Page 2 of 3 River Crossing PHD and subdivides them into two new lots. The new plat would allow for the construction of two separate retail showroom buildings, Tractor Supply and Maxsun Furniture. Access would be from both 179`h Avenue (customer traffic) and Industrial Circle (deliveries). Analysis and Recommendation Based on the EDA's mission to be the "Light Industrial Hub of the Northwest Metro", staff recommends that the EDA recommend denial of the land use amendment and rezoning for the following reasons: • The proposed project would remove 5-acres of readily available land for light industrial development. In 1996 the EDA and City Council strategically identified and rezoned areas for Business Park/Light Industrial use. With the exception of Mulvaney Point, all other Business Park land in Elk River does not have the infrastructure necessary to allow for development in a short period of time. The attached memo from Director of Planning, Michele McPherson provides information related to the recent Comprehensive Plan discussions surrounding the Elk River Business Park. • While the economy has slowed since 2001, neighboring cities have experienced a boom in industrial development. This is primarily due to those cities owning their own industrial/business parks. In an effort to make the privately-owned business parks competitively priced with neighboring communities, the City has actively marketed the Elk River Business Park and provided Tax Rebate (Abatement) Financing to write-down the cost of land to industrial users. The attached Economic Development Department Inquiry/Prospect Tracking Report indicates a relatively constant amount of light industrial prospects that vary in project size over the past 3 and half years. The market is experiencing an upturn, as noted in last month's prospect report. • The proposed project interferes with the intent of the Business Park zone for light industrial uses. During the 2000 Strategic Industrial Marketing Plan process, Duckor &Associates was told by several light industrial interviewees that they chose to not locate in Elk River due to the perceived amount of retail/service businesses in the original industrial park areas of Elk River. • The East Ella River development and construction of Twin Lakes Road was with the purpose and intent of creating areas for light industrial development, including Elk River Business Park and the EDA's purchase of the Brown property. The Contract For Private Redevelopment between the EDA and the owners of Elk River Business Park, dated July 30, 1999, defines the "Business Park Project" as follows: "..the development of approximately 200,000 square feet, and the provision for development of an additional 100,000 square feet, of light industrial building space on the Business Park Property, together with all of the roadways, parking facilities, F:ASHRDOC\EDA\TIF\TIF19\10.11.04 eda.doc