7.3. EDSR 09-21-2020 - Laserfiche WebLink

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excavation. When land development happens, there are situations where wetlands may be filled in order to meet the needs of a project. These filled wetlands must be replaced at a 2:1 ratio with existing wetland credits from a wetland bank site. A wetland bank site in a location of created wetlands that can be used to offset fill in other areas, typically in the same county or watershed. Elk River currently owns a wetland bank site with less than an acre of remaining available credits for purchase. Our long-term goal is to create another, larger wetland bank site and sell wetland credits when projects in our city require wetland fill. A total of $145,000 has been set aside since 2017 to purchase this site. Creating a wetland bank site requires suitable land to restore or create new wetlands. There are also additional costs involved with creating the bank site. The creation process includes design work, permitting, site construction (grading, berms, ditch control), vegetation establishment and annual monitoring and maintenance. The EDA annual budget item is being set aside for these costs in establishing a wetland bank site. Once established, the wetland credits would be sold for projects at a market rate per acre. DRONE FOOTAGE Drone footage includes site virtualization and an interactive format that would offer visitors the opportunity to engage in the following activities for the various EDA available lots, the Sherburne County site and other future industrial sites:  On each site pin the available “financial incentives”  Simulate driving on Hwy 169 – flow and businesses  Pin utility information (cost, voltage etc./provider information)  Pin fiber information and provider information  Pin utility substations with voltage etc.  Pin Permitting process and timeline  Show reclamation of Tiller Gravel mine and future site possibilities  Pin type of rail i.e. BNSF commercial rail and Northstar commuter rail  Pin airports  Drone footage of the community, community events, EDA available lots, gravel mine area, accessibility  Potential buildings on available lots – as was completed for the two Northstar Lots Cost: $10,000 future updates available as needed Major initiatives from these documents include:  Market the City of Elk River and gain positive exposure for the city.  Grow and maintain an inventory of private and public properties available for future development.  Maintain financial incentives to enhance economic development.  Celebrate and grow our existing businesses.  Develop and expand a microloan program to encourage new green collar jobs.  Increase the number of companies actively manufacturing products or components of products directly or indirectly used in renewable energy or energy efficiency by 2024.  Proactively work with the business community impacted by the 169 Redefine project.  Begin implementation of the EDA Strategic Plan. SUMMARY The proposed budget accounts for a slight decrease in expenditures for office supplies. An increase telephone, postage, conferences and schools, advertising and marketing, publishing, insurance, and dues and subscriptions.