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Industrial Land Development Strategy <br /> EDA Meeting December 13,2004 <br /> Page 2 of 2 <br /> Staff has prepared the table below which indicates industrial/business park land prices in the <br /> • area as it compares to Elk River. The information was provided by neighboring <br /> communities. With the exception of Maple Grove,all communities listed provide a land <br /> write down to the end user/buyer <br /> Market Summary <br /> Industrial/Business Park Land <br /> City Land Ownership SF Land Price Special Assessments Total Price <br /> Ramsey Public $2.25-2.50 included 2.25-2.50 <br /> Brooklyn Park Private $2.75-3.50 included 2.75-3.50 <br /> Maple Grove Private $1.75-2.75 not included 3.00+ <br /> Big Lake Private $1.80-2.40 included 1.80-2.40 <br /> Becker Public $0.61 included 0.61 <br /> St. Cloud Public $0.75 included 0.75 <br /> Monticello Public $3.00 included 3.00 <br /> Elk River <br /> Elk Path Private $1.50 estimate 0.50 2.00+ <br /> Elk River Business Park -Private $1.25 estimate 0.45 1.70 <br /> In addition, staff has received several inquiries from developers and brokers with interest in <br /> the new development areas, following an article that appearing in The Business Journal. <br /> Staff has met with the City's financial advisor, Sid Inman of Ehlers &Assoc. to develop a <br /> 4111 marketing strategy for the development of the EDA Brown Property. The strategy includes <br /> a request-for-proposals process that is outlined in the attached memo from Mr. Inman. <br /> Requested Action <br /> Following presentation and discussion of the issue, staff requests the EDA's feedback on the <br /> proposed marketing strategy for the development of the EDA Brown property. <br /> r <br />