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•II Item 5 <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development( <br /> DATE: April I I, 2005 <br /> SUBJECT: EDA Brown Property Development Update <br /> Background <br /> Request-For-Proposal (RFP) materials were prepared and mailed to 20 developers and <br /> brokers in early February. Development proposals were received from Duke Realty <br /> Corporation and Amcon Construction Company. At its March meeting the EDA reviewed <br /> the proposals and directed staff and Ehlers to meet with the two developers to gather more <br /> • information about how their proposal would benefit the EDA and development of the <br /> business park. In addition, the EDA discussed the public improvement schedule for the <br /> park. The EDA recommended that the Council authorize a feasibility study for the public <br /> improvement project based on the EDA's initial development concept. <br /> Recent Activities <br /> Public Improvement Project <br /> At its April 4 meeting the City Council adopted a resolution ordering a preliminary feasibility <br /> report for the proposal industrial park improvement project. The City Engineer anticipates <br /> that the report will be completed for presentation to the EDA and Council next month. <br /> Development Proposals <br /> Staff and Ehlers have met with the two developers for further discussion on their proposals. <br /> The developers were encouraged to submit additional information that would indicate how <br /> they would provide a benefit to the EDA and development of the park through a master <br /> developer concept and to further redefine concepts for the use of the park. Staff will <br /> continue to meet with the developers over the next month in preparation of a report on the <br /> new developer information for the May EDA meeting. <br /> • <br />