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EDA ITEM #7 <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> nr_r <br /> November 24 , 1993 <br /> Mr. Richard Newland, General Manager <br /> Anoka Electric Cooperative <br /> 2022 North Ferry Street <br /> Anoka, MN 55303 <br /> RE: REQUEST FOR FINANCIAL ASSISTANCE; <br /> PROPOSED ELK RIVER BUSINESS PARK PROJECT <br /> Dear Mr. Newland: <br /> In May .of this year, the Elk River Economic Development <br /> Authority (EDA) created a Business Park Task Force to research <br /> the concept of developing additional business park/industrial <br /> park areas in the community. Although the first priority of <br /> 411these <br /> Task Force is to encourage the private sector to develop <br /> these sites, it is likely that the EDA may also own and develop <br /> the sites as well. This initiative is proposed in recognition <br /> of a lack of private sector activity, significant carrying <br /> costs, and the lengthy time frame generally required to <br /> build-out an industrial park subdivision. <br /> Should the Elk River EDA resolve to initiate a project of this <br /> scope, numerous sources of funding must be accessed. Funding <br /> sources will likely include state, local, and federal <br /> programs . Federal programs identified to date include the U.S . <br /> Economic Development Administration (grants for public works <br /> and development facilities) , and the . Rural Electrification <br /> Administration (rural economic development loan and grant <br /> program) . <br /> To access potential R.E.A. funds, we understand that the local <br /> electric cooperative is the conduit between the federal agency <br /> and the end-user. Toward that end, please accept this letter <br /> as a formal request for A.E.C. ' s participation in helping the <br /> City of Elk River secure R.E.A. funds for a business <br /> park/industrial park development. To assist A.E.C. , Elk River <br /> is prepared to commit its staff into the preparation of an <br /> R.E.A. application. <br /> This request will likely warrant additional discussions between <br /> • the City of Elk River and A.E.C. The Business Park Task Force <br /> and city staff look forward to these discussions . In the event <br /> of questions or comments, or, to schedule an initial meeting on <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />