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INFORMATION <br />r- rr ,rr:~_~~inv- <br />ver <br />TO: Economic Development Authority <br />FROM: Annie Deckert, Director of Economic Development <br />DATE: December 12, 201 I <br />SUBJECT: Executive Director Update <br />The purpose of this periodic memorandum is to keep the EDA and HRA informed of <br />various ongoing activities that often go on behind the scenes in the Economic Development <br />Division. EDA and HRA Commissioners should feel free to bring up any questions or <br />issues for discussion under the "Other Business" section of the Agenda. <br />EDA Micro Loans <br />Staff continues to monitor the following micro loans: Ethanol Technologies of MN and <br />Nicole's Salon. In addition, staff has met with and provided Micro Loan information to <br />several prospective businesses. <br />An Energy Efficiency Rehabilitation program was approved by the EDA earlier this year to <br />provide additional incentives fox existing businesses as well as new businesses. <br />Restaurant Recruitment <br />An update was provided to the EDA and HRA in September outlining efforts. Staff has <br />initiated new recruitment activities in addition to the efforts outlined in the September <br />memo. <br />Staff heavIly promoted our SAC/WAC payment program for full service restaurants at the <br />2011 Minnesota Commercial Association of Realtors (MNCAR). In addition, staff will be <br />promoting this program through the distribution of the economic development holiday card. <br />Staff has met with several developers to communicate our incentives, and discuss properties <br />within Elk River feasible for restaurants. Staff is working with the broker of the old Hardees <br />facility to fill the vacant building. <br />Marketing material <br />Staff is working to update and redesign our marketing materials to implement our brand. <br />r1~E1E1 ~r <br />N:ADepa~tmenhVCommuniry DevelopmentAF:wnomic Development\L'DA to moveAAgendaAYcar20ll V6:xecutive ~~~~ <br />Ui~mtu~ aport 12-72-1 ldoc <br />