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1996 Economic Development Work Program <br /> Elk River, Minnesota <br /> <br />1. INDUSTRIAL DEVELOPMENT <br /> <br />A. Elk River Industrial Park: <br /> <br />In late 1995, the Elk River EDA sold its last publicly-owned <br />parcel to the Elk River Area public schools (District 728). The <br />remaining vacant parcel in the Industrial Park is a 2.39-acre lot <br />that is privately owned. A buyer has emerged for this parcel <br />and has it under option until the end of March, 1996. While <br />success is wished upon this company, the economic development <br />department stands prepared to actively recruit other light <br />manufacturing companies to ensure that this site is sold. <br /> <br />B. Other Industrial Areas: <br /> <br />The department will continue to work with owners/developers of <br />other industrially-zoned areas in the community. These areas <br />include the McChesney Industrial Park, Ar-Mort Commercial <br />Park, and RR Industrial Park. During 1995, Rail 10 Park sold <br />its remaining parcels and is now considered fully developed. <br />Prospects that have specific sites/facility needs that represent a <br />good match for the above-referenced industrial areas will be <br />referred to the respective owners. <br /> <br />C. Business Park Area: <br /> <br />1995 witnessed the development of the initial phase of the Elk <br />River Business Center (Business Park). Joplin Street was <br />constructed and it now connects Mississippi Road to US <br />Highway 10. In addition, a frontage road, known as Business <br />Center Drive, was constructed. Municipal water and sewer lines <br />were also installed to the Center's initial 37.5 acres. This was <br />done without the benefit of city funds to underwrite a portion of <br />the infrastructure costs. A 20,000 square foot convenience <br />center was constructed and is ready for occupancy. In addition, <br />the Center's first hght manufacturing company obtained tax <br />increment financing (TIF) assistance to support the construction <br />of its facility on a 3.0-acre lot. To continue with this momentum, <br /> <br /> <br />