HRSR INFORMATION 04-23-2001 - Laserfiche WebLink

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IIIwill include an inventory of properties and constraints,visioning process and an implementation plan. Completion of the plan is anticipated for Fall 2001. Jackson &Main St Properly In May the EDA transferred its Jackson and Main Street property to the City of Elk River in order to preserve the site for green space within the downtown. BUSINESS PARK DEVELOPMENTS Vest Business Park (EDA propery) The EDA approved a proposal for the development of its Joplin Street property by Gary Santwire/Rivers Crossing,Inc. The development includes the construction of two 22,500- square foot buildings. The northerly building, owned by Equity Management, Inc. (Linda Norha),will provide needed leasable light industrial space in the community. The southerly building, owned by David Ripplinger(Track of the Wolf,Inc.),will create up to 10 jobs at $10/hour wage. The EDA acquired the site in 1997 with tax increment finance revenues and contributed the land value and utility extension costs in an estimated total amount of $258,100 to the project. Opus Northwest, L.L.C./SoftPac Industries,Inc. (Emmerich propery) In July the EDA approved a tax increment financing request from Opus Northwest,L.L.C. and SoftPac Industries,Inc. for the construction of a 75,000-square foot flexible pouch packaging facility. The City created Tax Increment Financing District No. 21 to provide 411 $700,000 for the 14-acre land acquisition. The EDA had been marketed the site through a joint marketing agreement since 1997. SoftPac Industries will create up to 60 jobs, paying minimum wages of$10/hour. I Elk Path Business Center(Wilson propery) The City extended Business Center Drive to Waco Street and installed sanitary sewer, watermain, and storm sewer to service the Hoyt Partners property. The 80+acres of property was rezoned for Business Park and Highway Commercial development. Development by Allina Medical Clinic is anticipated in 2001. Elk River Business Park Groundbreaking for the construction of the first of several buildings planned for Elk River's East Business Park was held in September. The initial building will be a 52,000-square foot light industrial facility. The project is a development between Amcon Construction, Brookstone,Inc., and Fischer Sand and Aggregate Co. A total of 40-acres is included in the business park that is located off the newly constructed Twin Lakes Road. •