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Perseverance& Patience <br /> • Location site decision timeframe ranges from three to twenty-four months. <br /> g Y <br /> The build-out timeframe for both West and East Business Parks is estimated to be <br /> at least ten years. It is important that the City, City Council, Economic <br /> Development Authority and community understand <br /> ❑ The need to maximize the asset value of these parks <br /> ❑ The timing of the build-out, and <br /> ❑ The need to be patient to selectively, attract high growth, light <br /> manufacturing businesses. <br /> The City of Elk River is well positioned to be the Northwest metropolitan <br /> region's hub for light industrial businesses and capture its share of the business <br /> growth. If, and only if, the city implements and manages the plan and is <br /> proactively patient for the type of manufacturing growth that will yield the <br /> greatest economic multiplier effect on its local economy. <br /> Success Measurements <br /> To determine the success of the plan,the following management tracking report will be <br /> implemented: <br /> • The City of Elk River's Economic Development Department will report annually on: <br /> • The number of clients assisted and sited <br /> • The number of"good to excellent"ratings from clients, and <br /> • The amount of private capital investment that the city helped stimulate. <br /> Budget <br /> Please note Appendix E for estimated annual budgets for 2000, 2001, and 2002. <br /> 20 <br />