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MEETING OF THE ELK RIVER <br /> MARKETING COMMITTEE <br /> • HELD AT ELK RIVER CITY HALL, CONFERENCE ROOM A <br /> TUESDAY, MAY 6, 2003 <br /> Members Present: Jim Barthel, Gary Santwire,Jim Simpson and Dan Tveite <br /> Members Absent: Chris Carlson and Daryl Thompson <br /> Staff Present: Catherine Mehelich,Director of Economic Development <br /> Heidi Hall,Economic Development Assistant <br /> Others Present: Sid Inman, Ehlers &Associates <br /> Louise Kuester, EDA Representative <br /> Mark Urista, Coldwell Banker Vision <br /> 1. Presentation: Sid Inman, Ehlers &Associates <br /> Mr. Inman presented an Industrial/Business Park Land Market Matrix to the Committee,which <br /> provided information on the area's current industrial development market. The matrix provided a <br /> clear comparison between Elk River and competitor cities. Mr. Inman explained the matrix further <br /> by providing the group with a typical pro forma used by small to medium manufacturers upon <br /> deciding where their company should be located. <br /> 2. Discussion <br /> Ms. Mehelich reminded the Committee that the main objective of the City's Strategic Industrial <br /> Marketing Plan is for the City of Elk River to be the light industrial hub of the NW Metro. Ms. <br /> • Mehelich provided a detailed account of the obstacles in developing current industrial property in <br /> the City of Elk River,which indicated that the City's current product offering does not match the <br /> City's market strategy. Ms. Mehelich provided the Committee with the following three ways in <br /> which the City might address the product offering/market strategy issue: <br /> • Consider Different Strategy with Private Landowners <br /> • Consider City-owned Industrial Park <br /> • Do Nothing <br /> It was the consensus of the Committee that"do nothing"was not an option and that the City must <br /> be willing to compete with surrounding communities for the long-term good of the City of Elk <br /> River. <br /> 4. Committee Request to Extend Discussion at a Future Meeting <br /> The Committee requested that staff prepare a more detailed list of strategy options and their <br /> ramifications in which the City could use to address the industrial land issue. The Marketing <br /> Committee agreed to review the options for recommendation to the EDA in June. <br /> 5. The Meeting of the Marketing Committee adjourned at 5:40p.m. <br /> • Heidi Hall,Economic Development Assistant <br />