7.1. EDSR 11-12-2002 - Laserfiche WebLink

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Item 7 . 1 . • 1, City of Elk River MEMORANDUM TO: Economic Development Authority FROM: Catherine Mehelich, Director of Economic Development ' DATE: November 12, 2002 SUBJECT: Industrial Land Development Attachment • Memo from Sid Inman, Ehlers &Associates regarding Industrial Park Options Background • The recently updated Strategic Industrial Marketing Plan includes a recommendation that the EDA consider dedicating city-owned land with utilities for industrial development. An alternative recommendation was to dedicate one of the current business parks to industrial development if the landowners are willing to sign a joint marketing agreement. 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 has caused the process to take longer because of the private land pricing and negotiations. In staff's analysis of competitive communities (Big Lake,Anoka, and Ramsey) the cities have been successful in siting industrial prospects largely due to the fact that they are able to move quickly and be in the lead of the siting process. In addition, these communities are in the process of bringing on additional land for industrial development. Action Requested Staff requests the EDA's feedback and direction for staff to explore the following options: • Alternative strategies for working with private landowners of business park property • Strategy for the development of the EDA's property located off of Twin Lake Blvd. The attached memo from the city's financial advisors, Ehlers &Associates briefly summarizes how either of the above strategies may be approached. . A work session for further discussion on the issue may be scheduled for the EDA's December 9th meeting. S:\EDA\Marketing\Industrial Land\11-12-02.doc