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ITEM # 5. <br /> • <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Heidi Steinmetz, Assistant Director of Economic Development 5 <br /> DATE: August 9, 2004 <br /> SUBJECT: Strategic Industrial Marketing Activities Update <br /> Attachments <br /> • Cymbet Financing,Star Tribune.com,July 13, 2004 <br /> • Site Work Begins on New Cambridge Industrial Park,MN Real Estate Journal,August <br /> 2004 <br /> • National Association of Industrial&Office Properties (NAIOP) 2004 Annual <br /> Industrial Market Update <br /> • Energy City Brochure,July 2004 <br /> • Health Care Costs Main MN Business Concern, The Business Journal,July 30,2004 <br /> • MN Technology Newsletter, Tech Trends,July 2004 <br /> I. Product Offering Strategy <br /> Industrial Land Issue <br /> Staff and Ehlers &Associates have received responses from the landowners of Elk River <br /> Business Park and Elk Path Business Center regarding terms of a master development <br /> agreement. They have indicated interest in participating in a master development agreement <br /> with the EDA for the development of their industrial/business park property. Staff has sent <br /> the revised Contract for Initial Sale and Development to the landowners' for their <br /> consideration and is following up with their questions. <br /> Business Incubator <br /> K-Netica <br /> Incubator tenant,Joe Roushar of K-Netica is requesting a 6-month lease extension. There is <br /> a separate memo regarding this issue. <br /> LapTwo Technology Corporation <br /> Incubator tenant,Rob Henningsgard of LapTwo Technology Corporation will be in <br /> attendance at the September EDA meeting to provide a company update in addition to a <br /> 110 <br /> potential 6-month lease extension request. LapTwo's sublease expires on September 22, <br /> 2004. <br />