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ITEM 1 6. <br /> City of <br /> Elk -�-� <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> CC: EDA Marketing Committee <br /> FROM: Catherine Mehelich, Director of Economic Development�� <br /> DATE: September 8, 2003 <br /> SUBJECT: Industrial Land Development Strategy <br /> Attachments <br /> • Memo from Sid Inman, Ehlers&Assoc.re: Industrial/Business Parks Land <br /> Development Strategy, September 3, 2003. <br /> • • City of Elk River Industrial/Business Park Costs Spreadsheet. <br /> • Concept Maps of Proposed Phase I of Business Parks. <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 /> Analysis & Issues for Discussion <br /> Sid Inman of Ehlers&Associates has prepared the attached memo and spreadsheet <br /> outlining the analysis of the industrial/business park development costs. The information <br /> includes options for the EDA to consider in terms of the amount of assistance (tax <br /> increment financing)to provide industrial users in order for Elk River to be competitive <br /> within the market for industrial land development. Mr. Inman will be in attendance at the <br /> meeting to present the analysis and facilitate the policy discussion with the EDA. <br /> • <br />