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ITEM # 6. <br /> • <br /> i1kj it <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development', <br /> DATE: June 9, 2003 GG <br /> SUBJECT: Industrial Land Development Strategy <br /> Attachments <br /> • Minutes from May 6 and June 3, 2003 Marketing Committee Meetings <br /> Background <br /> The City's goal is to be "the light industrial hub for small to medium-size firms in the <br /> northwest metro region". This mission was adopted by the EDA as part of the Strategic <br /> Industrial Marketing Plan. <br /> Over the past two years staff has experienced two primary barriers to successfully recruiting <br /> small to medium sized light industrial development in Elk River. The two barriers are: <br /> • Availability of 1.5 —2 acres lots <br /> • Land costs <br /> At its April meeting the EDA directed the Marketing Committee to review the analysis being <br /> prepared by Ehlers/staff and make a recommendation back to the EDA. <br /> Analysis <br /> The attached minutes reflect the discussion from the two recent Marketing Committee <br /> meetings. The following items were the consensus of the Marketing Committee: <br /> OBJECTIVE: To attract small to medium size light industrial users to Elk River. <br /> PURPOSE: <br /> 1. To increase the cities future property tax base thus reducing future increases in <br /> property taxes on current residents. <br /> 2. To create quality job opportunities for current and future residents. <br /> 3. To create an increased customers base for retail business. <br /> • <br />