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<br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Economic Development Authority 6.2 <br />Agenda Section Meeting Date Prepared by <br /> <br />General BusinessAugust 15, 2016Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Director’s Report Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Information presented for discussion only in effort to keep the EDA updated development activity. <br /> <br />Background/Discussion <br /> <br />BUSINESS VISITS <br />17 Business visits have been completed to date with one more on the horizon. Staff paid a visit to <br />Diamond City Bread along with CM Olsen. The group met with Garret, the owner, who took over the <br />business from Frank Gallo in 2005. The business employs 4 FT and 6 PT employees. <br /> <br />Our next business retention visit is scheduled with EH Renner and Sons for September 29, 2016 at 9:30 <br />a.m. If you have an interest in attending this retention visit, please RSVP to Colleen. <br /> <br />MISCELLANEOUS <br />Die Concepts, Inc. <br />This project is moving along smoothly. See the attached progress photos. <br /> <br />Quad County Meeting <br />I attended the Quad County Meeting (Benton, Sherburne, Stearns and Wright counties) this past month <br />at the Central Minnesota Jobs and Training Center to discuss the plan to update the regional <br />Comprehensive Economic Development Strategy (CEDS) for the Central MN Regional Development <br />Commission (RDC). The CEDS was last updated in 2010. <br /> <br />Regions must update their CEDS at least every 5 years to qualify for Federal EDA assistance under its <br />Public Works and Economic Adjustment Assistance programs. In addition, a CEDS is a prerequisite for <br />designation by EDA as an Economic Development District (EDD). <br /> <br />The Annual Budget for Federal EDA is $300M. There are six Regions under the Federal EDA. The <br />Chicago Region has been allocated $30M which includes Michigan, Minnesota and Wisconsin. <br /> <br />The benefit to the region is that all municipalities would then be eligible to receive Federal EDA grant <br />dollars to assist with a variety of economic development initiatives. (i.e. Industry cluster strategies, market <br />leakage analysis, construction of ED infrastructure and facilities including industrial park development <br />and WWT Plants, etc.). This is a great tool to have in our tool box, and a potential source of funds as we <br />move forward into planning for future industrial developments. <br /> <br /> <br />