08-16-2021 EDA MIN SPECIAL - Laserfiche WebLink

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Special Meeting of the Elk River Economic Development Authority Held at the Elk River City Hall Monday, August 16, 2021 Members Present: President Dan Tveite, Commissioners Garrett Christianson, Matt Westgaard, Mike Beyer, Jennifer Wagner, Jeff Hartwig, and Charlie Blesener Members Absent: None Staff Present: City Administrator Cal Portner, Economic Development Director Brent O'Neil, Economic Development Specialist Colleen Eddy, and City Clerk Tina Allard I. Call Meeting to Order Pursuant to due call and notice thereof, the special meeting of the Elk River Economic Development Authority was called to order at 4:00 p.m. by President Tveite. 2. Discuss 2022 EDA Budget and Budget Goals Mr. O'Neil presented the staff report. Chair Tveite likes the new performance metrics. He stated a rotational tier system should be created so the same businesses aren't contacted every year when it comes to the Business Contacts metrics. Commissioner Westgaard stated separated metrics between business expansion and retention is good. He liked a deeper dive with quantifiable metrics where a prospect is more engaged than a 30 second phone call. Commissioner Wagner like the addition of the Business Contacts/Engagement in Elk River metric because it will create a positive public relationship when every existing business knows they have a direct dial to staff. Commissioner Christianson suggested the Inquiries, Prospects, and Leads metric be broken down and tied to a goal so it could be evaluated at year-end. Commissioner Beyer agreed the Business Contact metric is a good measurable. He felt 150 was aggressive to accomplish in 2022. He said you want to have the leads, inquiries, and prospects, but you also want to add in a metric for the close, which can be evaluated over time.