02-10-2003 EDA MINMEETING OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
HELD AT THE ELK RIVER CITY HALL
MONDAY, FEBRUARY 10, 2003
Members Present: President Gongoll, Comxnissionexs Koenig, Dwyer, HIinzing, Tveite
(5:42 p.m.) and Moon
Members Absent: Commissioner Kuestex
Staff Present Diectox of Economic Development Catherine Mehelich, Economic
Development Assistant Heidi Hall, City Administrator Pat Klaers',
and City Clerk Sandra Peine
Call Meeting To Order
3.
Pursuant to due call and notice thereof, the meeting of the Economic Development
Authority was called to order at 5:30 p.m. by President Gongoll.
Consider 2/10/03 Agenda
The following item was added to the agenda: 5.4. Update on MN Community
Capital Fund
COMMISSIONER KLINZING MOVED TO APPROVE THE FEBRUARY
10, 2003, EDA AGENDA AS AMENDED. COMMISSIONER KOENIG
SECONDED THE MOTION. THE MOTION CARRIED 5-0.
Consider Consent Agenda
COMMISSIONER MOTIN MOVED TO APPROVE THE CONSENT
AGENDA AS FOLLOWS:
3.1. JANUARY 13, 2003 EDA MINUTES
3.2. CHECK REGISTER
3.3. REVENUE/EXPENDITURE REPORT
3.4. BALANCE SHEET
COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION
CARRIED 5-0.
4. Open Mike
No one appeared fox open mike.
Economic Development Authority Minutes Page 2
February 10, 2003
Strategic Industrial Marketing Plan
5.1. Marketing Activities
Heidi Hall presented an update on the EDA strategic industrial marketing
activities. Heidi distributed the 2003 Community Profile. Heidi reported on
the total of 80,000 square Eeet of available industrial lease space, and recently
completed business retention visits to Alltool Pinnacle and 'SIN Fabrication
and Machine. Heidi invited the commissioners to the February 20 Economic
Development Association of Minnesota event, which will feature Ellc River's
Incubator Progeam.
Commissioner Tveite arrived at this time (5:42 pm).
5.2. 2002 Inc}uiro/Prospect Report
Catherine Mehelich reviewed the 2002 inquiry/prospect report. She noted
that although the total number of inquiries is down, which is a reflection on
the economy, the number of industrial inquiries has increased. Catherine also
reviewed the 2001-2002 industrial clients status. She stated that the primary
reason for not locating in Elk River included:
• Lack of available 1.5 - 2 acre lots
• Lack of upfront TIF financing
• Outside storage needs
The EDA indicated that the report was useful and requested semi-annual
reports be continued.
5.3. Discuss Paxmexship with MN Technology Inc (MTI)
Catherine Mehelich explained that bIN Technology helps companies create
more effective manufacturing processes, improve communications, increase
efficiency, expand market opportunities, and develop corporate growth
strategies. She indicated that staff believes that MN Technology is a resource
that can be utilized by industrial prospects and Elk River manufacturers. She
noted that through a partnership with MN Technology the City hopes to
create stronger technology-driven industrial companies by assisting existing
companies and by providing a valued service to industrial prospects.
Catherine introduced Julie Vreeland, MN Technology's Director of
Community Technology Development. Julie explained that Minnesota
Technology Inc. is the state's technology based economic development
organization.
Economic Development Authority Minutes
February 10, 2003
Page 3
Catherine indicated that this program was not a budgeted expense. She
suggested that if the EDA wanted to put atwo-year commitment to the
program that ,$5,000 from the Initiative Foundation and X5,000 from
Economic Development Authority would go a long way. She suggested that
the EDA funds come from the advertising and marketing budget.
Catherine reviewed options fox the City's participation with MTI. The EDA
concurred with providing a grant for companies that use i~1TI's fee-based
services. Commissioner biotin indicated his concern about spending a lot of
staff tune on Elk River developing its own program. Catherine noted that the
only staff time required would be the giant application to the foundation and
that the public relations consultant would take care of the marketing of the
program. President Gongoll indicated that there is a consensus of the EDA
to mote forward with the program. Catherine indicated that more
information would be provided to the EDA in the future regarding
marketing of this program. The EDA authorized Catherine Mehehch to
submit an application to the Initiative Foundation fox a grant request of
X5,000 fox atwo-year period.
5.4. Update on MN Community Capital Fund (MCCF~
Catherine Mehelich provided an update on the Minnesota Community
Capital Fund. She stated that the MCCF is ready to accept loan applications
from its member communities. Catherine noted that Elk River's membership
allows the city to originate loans up to ~SOQ,000. She stated that loan
applications could be obtained by contacting het.
6. Other Business
There was no other business.
Adjournment
There being no other business, PRESIDENT GONGOLL ADJOURNED THE
MEETING.
The meeting of the Elk River Economic Development Authority adjourned at
6:30 p.m.
~,~.,~.. a. ~~
Sandra Peine
Citv Clerk