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Economic Development Authority Special Meeting Minutes Page 2 <br /> May 25,2018 <br /> Commissioner Provo asked about incentives for land and should the city abate away • <br /> to remain on a level playing field with other communities? <br /> Mr.Touchette's response was that we should only provide incentives for projects <br /> that need it,and not provide abatement/incentives for projects that don't need it. <br /> Mr. Hardin's response was that the city should give land away that can't be sold, and <br /> target specific types of industries. <br /> Some takeaways Mr. Touchette and Mr. Hardin provided to the EDA: <br /> 1. Decide whether or not we want to own land or form partnerships. <br /> 2. Stay competitive on land pricing with other communities. <br /> 3. EDA owned land decide to give it away per the terms of a development <br /> agreement. <br /> 4. Know the current inventory. <br /> 5. Have a set process. <br /> 6. Articulate how you are going to get things done. <br /> EDA members stated this was a good presentation and would like to see this again at <br /> least once a year. <br /> 2.2 SWOT Analysis <br /> Ms. Othoudt distributed the SWOT analysis that each member participated • <br /> in. She asked the members to write down three goals each member would <br /> like to see in the next one,three and five year time frame. The commission <br /> discussed the analysis. Member Westgaard stated that the Hwy 169 <br /> Corridors of Commerce project is a game changer for Elk River and feels the <br /> city should start marketing the project and the 530 acre gravel mine area. <br /> SWOT Analysis <br /> Strengths— <br /> • Image and Public Safety <br /> • Municipal/Utility—Reliability <br /> • Community of Elk River is a selling point,Parks and Environment, <br /> Accessibility to Natural Resources <br /> • Good Infrastructure <br /> • Schools and Reputation <br /> • Workforce <br /> • Sales Tax Study showed that just as many people are going out, as <br /> they are coming in.We are not just a bedroom community anymore. <br /> • Greater MN versus Metro <br /> Weaknesses <br /> • Articulating the process, candid, clear, and complete direction <br /> • Inventory of properties • <br /> • Long Term Vision <br /> • Greater MN versus Greater MN <br /> tO � ERE1 Ir <br /> NATURE <br />