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ITEM # 5.2. <br /> i1kkj <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: May 12, 2003 <br /> SUBJECT: Industrial Land Development Update <br /> Issue <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 /> At its April meeting the EDA directed the Marketing Committee to review the analysis being <br /> prepared by Ehlers/staff and make a recommendation back to the EDA at its May meeting. <br /> The Marketing Committee recently met on May 6th. Following an hour and a half discussion <br /> it was the consensus of the Committee to request that the EDA consider granting an <br /> extension of one month for the Committee to prepare a recommendation. The Committee <br /> desires an additional meeting to specifically review and discuss different industrial <br /> development strategy options of which to formulate a recommendation to the EDA in June. <br /> Action Requested <br /> Staff recommends that the EDA consider authorizing the Marketing Committee a one- <br /> month extension to review options and prepare a recommended industrial development <br /> strategy for the EDA's June meeting. <br /> • <br />