5.0. EDSR 05-09-2005 - Laserfiche WebLink

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ITEM 1 5. • �/ City of Elk River MEMORANDUM TO: Economic Development Authority FROM: Catherine Mehelich, Director of Economic Development DATE: May 9, 2005 SUBJECT: Consider Developer Proposals and Draft Feasibility Study for Twin Lakes Business Park Attachments * Proposal Appendix from Amcon Construction * Proposal Addendum from Duke Realty * Draft Feasibility Study—Twin Lakes Business Park May 2005 • Background The primary goal of the industrial development is to increase the city's employment and tax base. The objective is to have property readily available throughout the city for industrial development. At its March meeting the EDA reviewed the proposals from Duke Realty Corporation and Amcon Construction Company,and directed staff and Ehlers to meet with the two developers to gather more information about how their proposal would benefit the development of the business park through a master developer concept. In addition, the EDA discussed the public improvement schedule for the park and recommended and the City Council authorized the preparation of a feasibility study for the public improvement project based on the EDA's initial development concept. Issue Staff has proposed a name change to"Twin Lakes Business Park" for what is previously known as the"EDA-owned Brown property". The EDA is asked to review the additional proposal information submitted by the developers that are interested in the project. The EDA is also asked to provide feedback to the City Engineer and staff on the draft feasibility study for the infrastructure improvements. The feasibility study will then be finalized for presentation and consideration by the City • Council.