HRA Packet for May 6, 2024 - Laserfiche WebLink

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The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity Request for Action To Housing and Redevelopment Authority Item Number 6.2 Meeting Date May 6, 2024 Prepared By Joshua Mollan, Economic Development Specialist Item Description Placer.ai Renewal Reviewed by: Brent O'Neil Cal Portner Action Requested Approve, by motion, a one-year renewal of the Placer.ai subscription. Background/Discussion Staff has continued implementing Placer.ai where beneficial. The platform has been used in the following ways, among others: local presentations and data sharing (Elk River Area Chamber of Commerce, Downtown Elk River Business Association), local event visitor analysis (Riverfront Concert Series, Farmers Market, EV Expo), 169 Redefine business impact and traffic analysis, annual leakage reporting, local facility visitation data for the city sponsorship package, traffic pin analysis to assist in billboard placement/timing, Orono Lake Improvement District collaboration for lake user analysis. The software is set to renew on May 31st for $15,712. For the past two years, the annual charge has been split evenly between the HRA and EDA. Staff have found that the software is used for the activities of the EDA in a higher proportion than the HRA. Staff suggests updating the split where the HRA would cover 30% ($4,713.60) of the annual charge and the EDA would cover the remaining 70% ($10,998.40). The EDA approved $10,998.40 toward the renewal fee at its April meeting. Financial Impact The HRA share of the one-year renewal is $4,713.60. Mission/Policy/Goal Promote and support certain housing and redevelopment projects. Attachments None Page 15 of 27