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Steering Committee Minutes ippe 3 <br /> May 25, 1994 <br /> • <br /> resulting in a developing project have occurred. Seven of those were i <br /> n 1993 to <br /> the present. <br /> Mary Eberley asked if there is a difference in the tax impact on the water and <br /> sewer versus the overall investment. A company will end up on a water and <br /> sewer lot because of the size of the building, uniform building codes for sprinkler <br /> systems, etc. <br /> Bill Rubin pointed out that in the Meadowvale Park Business Park one of the new <br /> businesses chose to be sprinkled due to insurance costs. The only way a business <br /> can be sprinkled is with water and sewer. <br /> Item 6- Overhead to show importance of commercial and industrial property. <br /> Overhead shows property tax analysis <br /> Robert Minton stated that one of the most important pieces of information the <br /> Committee has to deal with is that even though commercial/industrial is 16% of <br /> the property value state wide, they pay 36% of the tax bill of the property taxes in <br /> the state. <br /> Pat Dwyer touched briefly on property tax analysis and the positive impacts <br /> industrial development has for a community. <br /> • Arnie Engstrom arrived 7:40 PM <br /> Item 7- Estimate of lobs in Elk River (July 1993). Impact of 100 new manufacturing <br /> lobs <br /> Total number of jobs in Elk River- 5,662 <br /> Number of manufacturing jobs-1,006 <br /> Pat Dwyer presented a handout outlining what 100 new manufacturing jobs <br /> mean to the community. <br /> Item 8 Inventory of Industrial Property <br /> A map of the City was presented illustrating the total acres zoned industrial, total <br /> acres developed, total acres vacant, and total net acres available for <br /> development. <br /> Pat turned over meeting to Steve Ach. Important issues: There is some acreage <br /> which is not developable ( i.e., wetlands, or major highway corridors). There are <br /> also some restrictive areas such as steep slopes and waterways. It is important to <br /> subtract these areas from the total acreage. Steve explained total acres within <br /> and outside the current urban service area. <br /> Mary Eberley asked what the absorption rate other suburban communities have <br /> had over the past years. <br /> • <br />