07-10-2000 EDA MIN - Laserfiche WebLink

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Elk River EDA Minutes Julv 10. 2000 Page 2 e . Marketing Strategy . Key Account and Lead Generation Strategy . Pricing Strategy . Communications Promotion . Advertising Strategy President Dwyer requested that staff continue to update the EDA on the progress of the Marketing Plan. City Administrator Pat Klaers noted that one of the major components of the Economic Development Strategic Plan is the Industrial Marketing Plan. He spoke about the section of the Marketing Plan called Product Delivery Process and Client SeNices Strategy. The city administrator noted that he and Commissioner Thompson have requested Anita Duckor to present a proposal to the EDA and City Council for her seNices to work on the city's product delivery process and client seNices strategy. It was the consensus of the EDA that the presentation by Ms. Duckor would be made in August. 6. Review Prooosal bv ANC/Oous Assistant Director of Economic Development Marc Nevinski indicated that the EDA has received a proposal from Opus Northwest in conjunction with Advanced Nutritionals Corporation/Pouch Pac Industries (ANC) to develop the 13.97-acre Emmerich property in the West Business Park. Marc Nevinski reviewed the proposed financial package for the project which includes: e . Refund 100 percent of land costs over a four to five year period Onterest rate to be negotiated) . $100,000 micro loan at four points below prime . 20 percent reduction in water rates for a three year period of all water usage in excess of 2 million gallons per month. Marc distributed the tax increment financing policy and application for this project. COMMISSIONER GONGOLL MOVED TO ADOPT EDA RESOLUTION 00-1 RECOMMENDING THAT THE CITY COUNCIL OF THE CITY OF ELK RIVER CALL FOR A PUBLIC HEARING ON THE ADOPTION OF A MODIFICATION TO DEVELOPMENT DISTRICT NO.1 AND THE ESTABLISHMENT OF TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 21 AND FURTHER TO PROCEED WITH THE EXECUTION OF THE MARKETING AGREEMENT WITH TONY EMMERICH. COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 7-0. 7. Prooosal for Develooment of EDA Site at Joolin Street e Executive Director Cathy Mehelich indicated that the EDA has received a proposal for the development of the EDA site located at Joplin Street from Gary Santwire, Rivers Crossing, Inc. Cathy noted that the city purchased the 4.36 acre site from Country Ridge, Inc. in December 1997, with the use of excess TIF funds from TIF District NO.5 in the amount of $198,750. She indicated that the property was then transferred to the Economic Development Authority. She noted that because the city used excess TIF for purchasing the property, any sale proceeds