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<br />Item 4.2. <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />Mayor & City Council <br />Economic Development Authority <br /> <br />Catherine Mehelich, Director of Economic Developmen~ <br /> <br />November 8, 2004 <br /> <br />TO: <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Business/Industrial Park Land Discussion <br /> <br />Attachments <br />. City-owned Cargill Land - Concept Option <br />. EDA-owned Brown Land - Concept Option <br />. Economic Development Strategic Plan 2004-2007 Group Work Session Notes, <br />Industrial Development, May 2004. <br /> <br />Issue <br />For the past 2 years the EDA has directed staff to work with the private landowners before <br />considering development of city-owned sites. Over the past 6 months staff has received a <br />number of inquires for the City-owned Cargill land and the EDA-owned Brown land. Staff <br />requests the EDA and Council's discussion regarding its sites and development options and <br />provide staff policy direction in how we may proceed. <br /> <br />Background <br />The City's goal is to be "the light industrial hub of the northwest metro". This mission was <br />adopted by the EDA and part of the Strategic Industrial Marketing Plan. The purpose of <br />the goal being: <br />. To increase the city's furure property tax base thus reducing future increases in <br />property taxes on current residents. <br />. To create quality job opporrunities for current and future residents. <br />. To create an increased customer base for retail business. <br /> <br />Over the past 3 years staff has experienced two primary barriers to successfully recruiting <br />light industrial development in Elk River. The two barriers are: <br />. Availability of development-ready sites <br />. Land costs <br />