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ITEM 5. <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Economic Development Authority, <br /> "V `, FROM: Paul T. Steinman, Director of Economic <br /> / r Development <br /> DATE: September 9, 1996 <br /> SUBJECT: Business Incubator Program <br /> I. Purpose of Memo <br /> The purpose of this memo is to provide general background on the <br /> business incubator program and outline issues regarding two scenarios <br /> which staff is exploring for such a project. <br /> II. Overview <br /> The EDA has been discussing a "business incubator" project for quite <br /> some time. Initial discussions occurred as early as 1991. Approximately <br /> six months ago, Harlan Jacobs, Genesis Business Centers, was hired by <br /> the EDA as a consultant on the business incubator project. The EDA has <br /> moved forward over the past few months and is now discussing <br /> undertaking a major phase of the project, which is to locate an existing <br /> building and negotiate a lease/partnership arrangement with the property <br /> owner. <br /> Staff is currently discussing business incubator issues with the County <br /> Board of Commissioners regarding the former administration building, <br /> and also a private party. Staff feels both options remain viable and open <br /> for further discussion at this time. <br /> III. Primary Issues to Consider <br /> City staff has identified the following issues which will provide updated <br /> information to the EDA and allow for further discussion of the program: <br /> P.O. Box.490 • 13065 Orono Parkway• Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />