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ITEM # 5. <br /> • <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority cc <br /> FROM: Heidi Steinmetz, Assistant Director of Economic Development t-i'J <br /> DATE: May I0, 2004 <br /> SUBJECT: Strategic Industrial Marketing Activities Update <br /> Attachments <br /> • "City Plans 120-Acre Industrial Park to Bring Monticello Jobs", The Business Journal, <br /> April 30, 2004 <br /> • "Plant Could Spark Industrial Park", The Business Journal,April 16, 2004 <br /> • • Ad featuring SoftPac, The Business Journal, Growth Guide April 2004 <br /> I. Product Offering Strategy <br /> Industrial Land Issue <br /> Staff and Ehlers &Associates have received responses from the landowners of Elk River <br /> Business Park and Elk Path Business Center regarding terms of a master development <br /> agreement. They have indicated interest in participating in a master development agreement <br /> with the EDA for the development of their industrial/business park property. Staff is <br /> working with the attorney to draft the document. <br /> II. Competitive Strategy <br /> Monticello <br /> The attached Business Journal article highlights the City of Monticello's plans to develop a <br /> 120-acre city-owned industrial park. The Monticello City Council approved a letter on intent <br /> on the property but is currently negotiating the purchase agreement. <br /> Elk River's Strategic Industrial Marketing 2002-2004 Action Plan states Monticello as a <br /> current key competitor. <br /> Dayton <br /> The attached Business Journal article states that the City of Dayton will develop a master <br /> plan for a 170-acre industrial park. <br /> • <br />