9.0. EDSR 04-11-2005 - Laserfiche WebLink

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C .1 .�.. ' Over 13065 Orono Pkwy Elk River,MN 55330 Future Light Industrial Park Taking Shape s demand continues to increase for light industrial The future park has an added benefit of being within property in the City,Elk River's Economic walking distance of Elk River Station,a stop on the velopment Authority(EDA)is gearing up to open proposed Northstar Commuter Rail line.Also,one lot in a new light industrial park in the near future,possibly as the park is tentatively slated for a YMCA,another benefit for soon as this fall. local companies and employees. ■ The highly visible EDA-owned site-better known locally IIIIIIIkUlgillil as the Brown property-is near U.S.Highways 10 and 169. With about 38 acres of developable land,the park could accommodate projects in a variety of sizes,from 20,000 to over 200,000 square feet. The EDA recently issued a request for proposals(RFP)to market and develop the property,and received responses from two commercial real estate firms:Duke Realty Corporation andAmcon Construction Company.The EDA will continue discussions with the two developers,however no commitments have been made. An alternative option oll,„ `' that is being considered is for the IDA to market and develop the property on its own. 4 Whatever course the EDA chooses,land prices in the park ; would be competitive and there are a variety of city-offered `....ri ` incentives to qualifying companies that locate in the park. .. Vis, Currently,the City is in the process of planning the roads, utilities and other infrastructure at the property. "The EDA is definitely taking action to make these lots available as soon as possible,"says Catherine Mehelich, Elk River's Director of Economic Development,"and the 0 master plan gives companies plenty of flexibility in the size of their projects" 'lease«Ill ?63.(i 5 /0,40 or e-mail rrs al crneheliclw�ci.elk rirer:rrrrzits or'Vic/I/ Tleh aci.ell:ricer-am.its.