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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 6.3 <br />Agenda Section Meeting Date Prepared by <br />General Business February 20, 2018 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Director’s Report Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Information presented for discussion only in effort to keep the EDA updated on development activity. <br /> <br />Background/Discussion <br />BUSINESS VISITS <br />Four BR&E visits have been scheduled. Please RSVP if you are able to attend. <br /> <br />BUSINESS INQUIRIES <br />Staff has received 8 site inquiries since January. Inquires come from a variety of sources including <br />DEED, Greater MSP, our website, and events staff attends. <br /> <br />Data Center Site Tour <br />City staff, ERMU and Dan Weber from Sherburne County attended a pre-scheduled visit with a <br />developer interested in the county’s data center site. The visit was derived from a contact made at the <br />IMN Conference in Chicago last November. They have shown some interest in our data center site along <br />with other available lots in Elk River. <br /> <br />MISCELLANEOUS <br />Sherburne County Annual Meeting <br />Amanda and Colleen attended the Sherburne County Annual Meeting. Dan Weber provided an update <br />on the Sherburne County EDA Revolving Loan Fund. In 2017, a total of $154,600 was distributed to <br />three companies resulting in $2,513,675 in private investment. The loan assisted in the retention of 37 full <br />time jobs, and is projected to create 26 new full time jobs over the next two years. The projects resulted <br />in an additional $21,600 in property tax revenue annually and a $540,000 increase in taxable value. <br />Colleen provided the group with a recap of marketing activities in relation to the Data Center site from <br />2017. The county contributes $5,000 annually to assist in the marketing of their data center site. <br /> <br />Connect the Dots - Anoka Technical College Foundation <br />For the past two years, Sherburne County, The Elk River Chamber of Commerce and the Elk River <br />EDA have participated in the Connect the Dot’s Scholarship Fundraiser event. This year’s event is set for <br />Thursday, April 19, 2018 from 5:30 – 8:30 PM at the Bunker Hills Event Center. Each year, several <br />students are awarded scholarships though this foundation. The recipient of last year’s scholarship wrote a <br />thank you card to our group. <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />