9.0. EDSR 04-11-2005 - Laserfiche WebLink

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City of Elk River 2004 Annual Report • approval, it is anticipated that infrastructure improvements will begin summer 2005 for the sale and development of lots by fall 2005. In late December 2004, the Sherburne County Board of Commissioners took action to purchase the 76-acre Elk Path Business Park land. Industrial Business Retention & Expansion Visits Staff and EDA Commissioners attended six visits in 2004, including Contour Mold, Cretex, Great River Energy, NRG, Supermats, and Riverside Manufacturing. The goal of the visits is to develop a relationship with the local manufacturers for a better understanding of their issues and future needs. Business Incubator Program The EDA has been operating the Business Incubator Program in conjunction with Genesis Business Centers since 1996. The goal of the Business Incubator Program is to develop long- term relationships with young, growing companies that have an emphasis on new technologies and to help these companies become established in Elk River. Since the program's inception, 9 companies have entered the Incubator to further develop their products and grow their business. The EDA currently leases three suites from building owner, Larry Hickman. Two renewals were granted in 2004 to Incubator tenant, KnowledgeNetica Corporation (K- Netica). K-Netica develops intelligent software to interpret and translate written and spoken • human languages. The software has a number of key applications for commercial,government, military, and personal use. One renewal was granted to Incubator tenant, LapTwo Technology Corporation. Early during its first year in the Incubator, LapTwo did research and development work in several product areas involving new uses of the internet, web servers, and hand-held PDA computers. In the first quarter of 2004, a new product opportunity was identified. The product, to be sold as a software package, is a management and security system for internet hospitality"hot spot" providers such as restaurants, hotels, motels, and the like. The full-scale product development project began in March. In 2004 staff continued to maintain a close relationship with incubator graduate,Cymbet Corporation for their anticipated expansion project in Elk River and on their successful funding round of$16 million. HOUSING &REDEVELOPMENT AUTHORITY Housing Work Plan In follow up to a 9-month Housing Work Plan that included presentations from a variety of housing resources, the HRA directed staff to conduct an informal/non-scientific survey of Elk River manufacturers and retail/service businesses regarding housing availability and affordability • issues. The results of the survey were presented to the HRA in February of 2004. In summary, 66% of retail/service businesses surveyed and 64% of manufacturers surveyed felt that Elk River was meeting the housing needs of their employees. It was of HRA consensus that the next steps in the Housing Work Plan are the following: