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<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 /> Request for Action <br /> <br /> <br />To <br />Economic Development Authority <br />Item Number <br />6.2 <br />Agenda Section <br />General Business <br />Meeting Date <br />October 15, 2018 <br />Prepared by <br />Amanda Othoudt, EDD <br />Item Description <br />Director’s Report <br />Reviewed by <br />Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Information presented for discussion to keep the EDA updated on development activity. <br /> <br />Background/Discussion <br />BUSINESS VISITS <br />BR&E visits were completed with 14 local businesses, 5 more are scheduled. Please RSVP if you are able <br />to attend. <br /> <br />MISCELLANEOUS <br />Inquiries <br />Staff continues to receive inquiries seeking existing industrial space and new industrial development and <br />inquiries on the data center site. In anticipation of the upcoming 169 Redefine Project, more and more <br />inquiries are coming through my office for property not currently listed for sale along the 169 Corridor. <br /> <br />Marketing Materials <br />Staff is working on updating our Targeted Industry marketing materials, and our community guide. <br /> <br />GRE Waste to Energy Plant Closing <br />The Star Tribune and the Star News both published articles on the pending closure. The plant generates <br />$1,869,920 in total annual tax revenue, of which, $461,793 is city tax revenue. Although we are actively <br />marketing the property, it will be important for the EDA and Council to discuss the overall tax impact. <br /> <br />Elk River’s Realtor Day Fall Forum <br />Reminder, our annual Elk River Realtor Day Fall Forum is scheduled for 8 a.m. to noon, on Nov. 28. <br />This year, we are collaborating with the St. Paul Association of Realtors and MNCAR. There will be a <br />variety of topics and an overview of our local economy. Plan to attend, lunch will be provided. <br /> <br />Revolving Loan Fund Balance Reports <br />At the request of commission, a copy of the Revolving Loan Fund report is attached. <br /> <br />Financial Impact <br />N/A <br />