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EDA Marketing Committee Minutes Page 2 <br /> June 3,2003 <br /> • • The City will market private industrial property before City-owned property but that serious <br /> consideration be given to put a small phase of city-owned property on the market. <br /> • All appropriate landowners should be informed of each industrial prospect so that they have <br /> the opportunity to "bid" on each project. <br /> • The City should clearly define its criteria for the financial and market feasibility of each <br /> project (amount of subsidy,price of land, etc.) as each project is introduced to landowners. <br /> The Committee also discussed the difference between business park and light industrial. It was <br /> stated that business park property will attract more high tech,higher end light industrial users that <br /> will take longer to attract while light industrial property will attract the small to medium size market <br /> that Elk River currently receives. <br /> The Committee agreed that there is no industrial land available in Elk River (with water and sewer) <br /> and that only business park land is available. It was the consensus of the members that a clear <br /> distinction must be made to current landowners and the EDA between business park and light <br /> industrial. Mr. Inman suggested that a different incentive strategy be prepared for each. The <br /> Committee agreed that the City's lack of available industrial land does not comply with the objective <br /> of the Strategic Industrial Marketing Plan,which is to attract small to medium size light industrial <br /> users to Elk River. <br /> 4. Committee Request to Extend Discussion at a Future Meeting <br /> The Committee requested that staff and Mr. Inman meet with each industrial landowner to discuss <br /> • the landowners'interest in a competitive marketing strategy for light industrial development. Staff <br /> was asked to provide the Committee with the results of staff's meetings with the landowners at a <br /> future meeting so that the Committee could further define a marketing strategy with each landowner <br /> for recommendation to the EDA at its July meeting. The Committee requested the EDA's <br /> consensus on the direction to which they would like staff and the Committee to proceed. <br /> 5. The Meeting of the Marketing Committee adjourned at 5:20p.m. <br /> Heidi Hall,Economic Development Assistant <br /> • <br />