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EDA Marketing Committee Minutes Page 3 <br /> July 22,2003 <br /> • 3. Committee Recommendations <br /> It was the consensus of the Committee that the following conclusions be recommended to the <br /> EDA: <br /> • Only three properties are realistic for competitive industrial marketing in the short term: Elk <br /> Path-Phase 1, Elk River Business Park, and the EDA(Brown) Property-Phase 1 <br /> • Landowners should be provided an equal base amount per square foot for their property, <br /> then city should write down to zero dollars to be competitive <br /> • The city should consider using special assessments and if necessary,write down <br /> improvement costs with'III' or TRF <br /> • The city should consider using TIF/TRF to pay for park dedication fees <br /> Upon the direction of the EDA,the Committee recommends that staff complete the analysis and <br /> present to the EDA for approval. The Committee also recommended that staff research the last 10 <br /> years of industrial construction (private/public sites and incentive provided) and research the tax <br /> base increase based on full build out of at least the "development ready" property. <br /> In summary,in order for the city to be competitive, it will need to write-down the cost of property <br /> to zero dollars using TIF/TRF assessments and park dedication fees. <br /> 4. The Meeting of the Marketing Committee adjourned at 5:30p.m. <br /> Heidi Hall, Economic Development Assistant <br /> • <br />