8.0. EDSR 03-10-2003 - Laserfiche WebLink

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Item if 8 • City of Elk -�-� River MEMORANDUM TO: Economic Development Authority FROM: Catherine Mehelich, Director of Economic Developmen t) DATE: March 10, 2003 SUBJECT: Preliminary Report on Analysis of Industrial Park Options Attachments • Minutes from the February 11, 2003 Joint Meeting. • Comparison of Key Industrial Client Requirements by City of Elk River Product Offering. • • Map of Business Park/Industrial Sites. • 2002 Prospect/Inquiry Summary Report. • Correspondence from Brookstone, Inc. dated December 19, 2002 and February 24, 2003. Background At its November 2002 regular meeting, the EDA authorized staff to explore the following options related to industrial land development, as recommended in the updated Strategic Industrial Marketing Plan: • Alternative strategies for working with private landowners of business park property • Strategy for development of the EDA's property located off of Twin Lakes Road The reason behind the recommendations made by Duckor&Associates is that the City of Elk River is at a distinct competitive disadvantage with its business park property because it does not own the land directly. This causes the siting process to take longer because of the private land pricing and negotiations between landowner/broker and industrial client. Joint Work Session with Planning Commission In preparation for the EDA's discussion, a joint work session was held in February in which Duckor &Associates facilitated a discussion between the Planning Commission, EDA and City Council regarding the client requirements for industrial siting and development. As a result of the joint meeting,it was suggested that EDA/Council persons meet one-on-one with the private landowners to confirm staffs understanding of the pricing, availability and market for each site as described on 4110 the attached matrix. The Councilpersons who met with each of the following property owners should provide a verbal report at the meeting of their findings: