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• <br /> "/•// <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Heidi Steinmetz, Assistant Director of Economic Development <br /> DATE: November 8, 2004 <br /> SUBJECT: Strategic Industrial Marketing Activities Report <br /> Attachments <br /> • Ad featuring Sportech, The Business Journal, October 22, 2004 <br /> • Orluck Industries Ground Breaking Photos <br /> • Thank You ad,Elk River Star News, October 13, 2004 <br /> • I. Product Offering Strategy <br /> Industrial Land Issue <br /> The landowners of Elk River Business Park and Elk Path Business Center have indicated <br /> interest in participating in a master development agreement with the EDA for the <br /> development of their industrial/business park property. Staff continues to await a response <br /> from the landowners regarding the revised Contract for Initial Sale and Development. <br /> 11. Competitive Strategy <br /> A development study was recently completed by the MN chapter of the National <br /> Association of Industrial and Office Properties (NAIOP). The study includes 78 Twin <br /> Cities communities including Elk River. The results indicate the variations in processing <br /> times and fees. The study was based on a 50,000 SF office/warehouse building on 4.1 acres <br /> of land that would need to be rezoned from residential purposes to commercial. <br /> Based on the results of the study, staff prepared a side-by-side comparison of Elk River with <br /> its key competitor communities identified in the 2002-2004 Strategic Industrial Marketing <br /> Plan. This summary report will be presented at the December meeting. <br /> III. Key Account/Lead Generation Strategy <br /> Minnesota Real Estate Journal (MREJ) Conference <br /> Staff attended MREJ's Industrial Real Estate and Logistics Conference in Golden Valley on <br /> November 3`d. The event was attended by approximately 85 developers,brokers and <br /> • economic developers. <br />