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c � <br /> Oiry of <br /> L' ik <br /> Rive' MEMORANDUM <br /> TO: STEERING COMMITTEE <br /> FROM: STEVEN B. ACH, CITY PLANNER,,e61.— <br /> DATE: JULY 14, 1994 <br /> This next meeting will focus on commercial development in Elk River. Over <br /> the past few years commercial activity has been brisk. With the addition of <br /> road improvements to Highway 10 and Highway 101/169, Elk River has <br /> become more accessible and attractive to prospective home builders and <br /> future residents which in turn fuels the commercial growth. Unlike <br /> industrial development, commercial activity follows growing markets that <br /> occur along with residential growth. Elk River is in a fortunate position to <br /> have the opportunity to take advantage of the strong commercial interest in <br /> this area. The challenge will be to manage this activity and maintain a high <br /> level of quality, project a positive image of the City, and enhance the City's <br /> tax base. <br /> The following is a brief description of agenda topics for the scheduled <br /> meeting: <br /> ITEM 5: RETAIL SALES ACTIVITY <br /> Exhibits A through Exhibit G illustrate general information regarding <br /> commercial activity. Exhibit A should not be a surprise because of the <br /> growth in Sherburne County. Basically, since the median household income <br /> has increased over the years, total retail sales and effective buying income <br /> has followed a similar curve. <br /> Exhibit B provides a breakdown of retailers within Elk River according to <br /> their standard industrial classification (S.I.C.) code and associated gross <br /> sales for 1992. Food stores ($ 35,890,525) followed by auto dealers/service <br /> stations ($ 27,870,304) and general merchandising ($ 12,420,013) lead the <br /> list according to gross sales. With the development of Elk Park Center and <br /> other proposed general merchandising stores, this category should experience <br /> and increase in upcoming years. <br /> • Exhibit C gives a comparison of retail sales within Sherburne County as well <br /> as Elk River's share of the County activity. The City's percentage of sales <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-742 <br />