6.1 EDSR 06-16-2014 - Laserfiche WebLink

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Shovel-Ready Program Overview Page 2.of 5 • Availability of water,sewer,gas,telecom and electric power • Ability to recruit staff to an area(quality of life/cost of housing) • The presence of certain suppliers,competitors and/or industry partners • Gather examples of available real estate options and least/purchase costs/terms The final screening is to develop comprehensive profiles of the top location candidates. Step Three Present Screening/Profiling information to Senior Management PHASE TWO OF THE SELECTION PROCESS Step Four On-Site Field Visits • Review available real estate and related lease/purchase options(buildings and sites)* • Evaluate labor and other resources critical to the company's operation Step Five Incentives Negotiation(where available) • Review available incentives that are applicable to the company's situation Step Six Feasibility Analysis • Develop Net Present Value(NPV)of costs and incentives(10 or 20-year pro forma) Step Seven Final Presentation and Decision J Site Characteristics When a prospective company views an area and its real estate options,there are four levels of evaluation(as outlined below)that frequently drive the decision.Having identified a particular site or building,the search team conducts a quick evaluation of access to an airport(if air travel is important)and the labor force within 30 minutes of the site. The evaluation team then reviews the local amenities and Interstate access that are within a few miles of the site,Lastly,the team focuses on the overall site and the details of the building(s),If present in the final analysis,it is the site with the best access to resources and manageable risk at the lowest cost that will most likely be selected. Size of Development Site and Lot Sizes Company requirements will range from large(100+acre)standa lone sites for single users down to S-10 acre sites within a multi-user park.Many companies will scan the real estate options for the size lot they need but also check the potential for expansion on contiguous land or adjacent sites. The configuration of a site and its individual lots Is also a key determinant of the size and configuration of the building that can be placed on the site,particularly when considering any minimum offset distances required to property lines. Level of Site Visibility and Security Some companies want to have visual access from art interstate or a primary highway and have their name on the building,Other companies are more concerned with security and want to be located in an office or industrial park that has controlled access,a perimeter fence and lighting throughout.Also Important is the location and distance to fire,police and hospital services that are the closest to the site. Level of Site Readiness As previously discussed,companies seek out real estate options that minimize startup time and limit potential risks.If the type of facility required is relatively generic,the company will first screen the real estate listings for buildings then for building sites.if the building requirements are fairly unique(extra large site or building size, very specialized space layouts,need for high-end architectural features),the company will seek a building site, Different companies and types of operations will be attracted to different levels of readiness—from a developed site to a shell building in place to a move-1n quality building. There is a multl-level scale for determining.the level of site readiness(see below),The scale ranges from raw land currently zoned agriculture up to a fully developed site with a building in place.Each level indicates an incremental amount of effort that reduces the time to startup for the prospective company.When a community is considering the development and marketing of a particular site,make an effort to determine what level of readiness will be needed to assure that certain types of businesses will be attracted to the site. http://mn.gov/deed/government/shovel-ready/program-overview/ 6/10/2014