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ITEM 6. <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> i)11,5„.„...--FROM: Paul T. Steinman, Director of Economic <br /> Development <br /> DATE: December 5, 1996 <br /> SUBJECT: Business Incubator <br /> The purpose of this memo is to provide a brief update on the business <br /> incubator program. I have attached for the EDA's information,the following <br /> draft documents: <br /> •` Tenant selection guidelines <br /> • Application forms <br /> • I have also attached a copy of a letter to Larry Hickman, the private property <br /> owner who has indicated an interest in participating in this program with the <br /> EDA. Staff was directed at the last EDA meeting to pursue a preliminary <br /> lease arrangement with Mr. Hickman and continue to research financing <br /> alternatives for lease hold improvements and other costs associated with the <br /> project. The letter to Mr. Hickman indicates that two concerns would need to <br /> be addressed prior to the EDA entering into a lease arrangement. The <br /> concerns are parking issues and sewer capacity, the later being the most <br /> important. It appears from discussions with city building officials that a new <br /> septic system may have to be constructed on the site in order to accommodate <br /> additional capacity due to a change in the use of the building from retail <br /> furniture to an office use. The EDA will need to see some assurance as to <br /> how this issue will be resolved prior to entering into a final lease. <br /> This item is for discussion only at this time, and no action is required. <br /> s:\eda\meetings\businc.cloc <br /> • <br /> 13065 Orono Parkway • P. O. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />