8.0. EDSR 01-08-1996 - Laserfiche WebLink

Home Browse Search

v • 1996 Economic Development Work Program Elk River, Minnesota INDUSTRIAL DEVELOPMENT A. Elk River Industrial Park: In late 1995, the Elk River EDA sold its last publicly-owned parcel to the Elk River Area public schools (District 728). The remaining vacant parcel in the Industrial Park is a 2.39-acre lot that is privately owned. A buyer has emerged for this parcel and has it under option until the end of March, 1996. While success is wished upon this company, the economic development department stands prepared to actively recruit other light manufacturing companies to ensure that this site is sold. B. Other Industrial Areas: The department will continue to work with owners/developers of • other industrially-zoned areas in the community. These areas include the McChesney Industrial Park, Ar-Mon Commercial Park, and RR Industrial Park. During 1995, Rail 10 Park sold its remaining parcels and is now considered fully developed. Prospects that have specific sites/facility needs that represent a good match for the above-referenced industrial areas will be referred to the respective owners. C. Business Park Area: 1995 witnessed the development of the initial phase of the Elk River Business Center (Business Park). Joplin Street was constructed and it now connects Mississippi Road to US Highway 10. In addition, a frontage road, known as Business Center Drive, was constructed. Municipal water and sewer lines were also installed to the Center's initial 37.5 acres. This was done without the benefit of city funds to underwrite a portion of the infrastructure costs. A 20,000 square foot convenience center was constructed and is ready for occupancy. In addition, the Center's first light manufacturing company obtained tax increment financing (TIF) assistance to support the construction • of its facility on a 3.0-acre lot. To continue with this momentum,