5. EDSR 08-08-2011amity o~
River
REQUEST FOR ACTION
To Item Number
Economic Develo ment Authori 5.
Agenda Section Meeting Date Prepared by
August 8, 2011 Annie Deckert, Director of Economic
Develo ment
Item Description Reviewed by
Consider Year 2012 EDA Budget and Resolution Establishing Tim Simon, Finance Director
EDA Levy Reviewed by
Action Requested
Staff recommends the EDA review and approve the Year 2012 EDA Budget as presented and attached
Resolution Establishing the EDA Tax Levy for Collection in Year 2012. Following the EDA's action, the
City Council must approve and certify the EDA and HRA levies to Sherburne County in September.
Background/Discussion
The Economic Development Division consists of two separate budgets including:
• Economic Development Authority
• Housing & Redevelopment Authority
Revenues
Since 2003 the EDA and HRA levies have been enough to balance the Economic Development Division
without City General Fund revenues. Revenues generated from the EDA tax levy for 2012 budget
purposes are estimated based. on a 6% decrease 1n taxable market value according to preluninary
information provided by the Sherburne County Assessor. This information is subject to change as they
finalize numbers we received last year. Other revenue sources include interest income and a $3,500
transfer in from HRA funds toward approximately 40% of shared administrative expenses (office
supplies, fuels, telephone, travel/training). The attached Budget Worksheet has been prepared using the
0.01813% levy as in previous years.
Expenditures
The attached proposed 2012 budget was developed with the following EDA Goals in mind as indicated
in the attached 2009-2012 Strategic Plan Action Steps:
• Expand city's inventory of available commercial and/or industrial park land for future development
• Continue to implement the Strategic Industrial Marketing Plan strategies with focus on
brokers/developers, medium-large light industrial users, and business retention & expansion
• Identify desired image and create a branding plan that reflects Elk River brand/image
The expenses for. the above referenced goals are primarily reflected in the Legal, Professional Services,
and Advertising/Marketing budget line items. The Professional Services budget is primarily allocated for
the implementation of the branding and marketing strategic plan, anticipated to be adopted by the EDA
N:\Depaztments\Community Development\Economic Development\EDA to move\Budget\2012 Budget\8-8-11 Action Requested EDA
Budget.doc
and Council on September 12, 2011. Costs associated with the Gateway development are included in the
Legal Fee and Advertising/Marketing budget line items. Additional costs would most likely come out of
the city's development fund which would most likely be funded from special assessments and trunk
funds.
The increase in Travel, Conferences & Schools line item is attributed to continuing education elected by
the Director of Economic Development, in which the city provides 75% tuition reimbursement up to
$3,000 per the city's personnel policy. The remainder of the increase covers the Economic Development
Finance Professional Certification through the National Development Council (NDC) for the Assistant
Economic Development Director. The proposed budget also includes a Transfer out to General Fund
for shared administrative/personnel services.
In 2004 the Personal Services costs were adjusted from 70/30 percent EDA and HRA respectively to
60/40 percent due to staff time allotted to the downtown construction project and redevelopment
planning. It is proposed that this continue in 2012 due to staff time spent on foreclosure prevention
activities and the anticipated Downtown Redevelopment Plan.
Initiative Foundation Annual Contribution Reduest
Information about the Initiative Foundation's 2012 request of $2,500 is attached. Prior to 2007, the EDA
had made a series of annual contributions of $2,500 to the Initiative Foundation, however has not
contributed since. In the past two years, the EDA has received $6,500 from the Foundation for the
Economic Development Assistant's NDC training and the branding and marketing project If the EDA
chooses to approve this request, the $2,500 will be taken out of the Misc. line item.
In 2008 the EDA adopted a Fund Balance Policy to designate a percentage of its cash fund balance at the
end of each year toward EDA Development Projects. The balance is intended to be used by the EDA for
development expenses such as land acquisition and related assembly costs for future
commercial/industrial parks. As indicated as a goal in the 2009-2012 strategic plan, staff is evaluating the
current inventory of available commercial and industrial land and evaluating assembly options (ownership,
improvements, financing, etc.)
Information -Related EDA Pro,grram Fund Balance
In addition to its operating budget the EDA has accessed the following various funds for specific
economic development projects (recent balance sheets attached):
• EDA Micro Loan Fund with a cash balance of $1,143,144
• EDA DTED Loan was closed (transferred to Micro Loan fund) in 2010 (derived from 2003 federal
grant for Sportech expansion)
• City DEED Loan with a cash balance of $302,950 (derived from 2008 federal grant for Sportech
expansion)
• City Development Fund with a cash balance of $413,053 (City-controlled fund for capital projects
such as Northstar Business Park and Gateway Business Park)
Attachments
• Budget Worksheet -Proposed 2012 EDA Revenue & Expenditures
• Resolution Establishing the EDA Levy for Collection in Year 2012
N:\Departments\Community Development\Economic Development\EDA to move\Budget\2012 Budget\8-8-11 Action Requested EDA
Budgetdoc
• Balance Sheet for EDA related Project Accounts as of July 31, 2011
• 2009-2012 Economic Development Strategic Plan Action Steps
• Initiative Foundation -Year 2012 Request for Financial Contribution
Action Motion by Second by Vote
Follow Up
N:\Departments\Community Development\Economic Development\EDA to move\Budget\2012 Budget\8-8-11 Action Requested EDA
Budget.doc
2012 BUDGET DETAIL SHEET
.Dept: Economic Development Authority
Acct.
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i 2010 2D11 BUDGET 2D12 BUDGET
No xp
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4101 PERSONAL SERVICES
Re ular Pa
80,404
79,850
75,100
4102 Overtime Pa
4103 Part-time Pa 12,604 12,600 12,600
4104 PERA 6,022 6,300 5,950
4105 FICA 5,293 5,750 5,450
4107 Medicare 1,252 1,350 1,300
4108 Insurance 6,634 6,950 10,800
4109 Workers Gom 409 400 500
4201 TOTAL PERSONAL SERVICES
SUPPLIES
Office Supplies 112,618
2,751 113,200
2,700 111,700
2,700
Office su lies 2,700 2,700
4212 Fuels 8~ Lubs
Unleaded as
4304 TOTAL SUPPLIES
OTHER SERVICES 8 CHARGES
Legal Fees 2,751 2,70D
10,000 2,700
10.000
Misc. 10,000 10, 000
4319 Other Professional Services 14,442 60,000 60,000
TIF feasibilit studies
Mkt Brand Plan Im lementation 60,000 60,000
Master Develo er- Gatewa
4321 Telephone 181. 200 550
Lon distance 200 200
Mobile hone 350
4322 Postage .744 2,000 2,000
Marketin mailin s 2,000 2,000
4331 Conferences/Schools 5,799 8,500 18,100
Misc. trainin 5,500 5,500
Tuition reimbursement 3,000 3,000
NDC Trainin 4,600
NDC Travel 5,000
4349 Advertising/Marketing 27,990 35,000 34,950.
Web Site Desi n 1,000 1,000
Communit Profiles 1,700 1,700'
Advertisin Production & Publication T0~000 10,000
Newsletter/Direct Mail 7,000 7,000
Dept: Economic Development Authority
Acct.
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i 2010 2011 BUDGET 2012 BUDGET
No .
xp
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o
upp
es or
erv
ces Actual Detail Total Detail Total
Rota 700
Business Retention Ex ansion lunches 800 800
Promo items 4,000 4,000
S ecial events 8,000 8,000
MNCAR Exchan a 1,800 1,800
Three Rivers Networkin Grou 100
MNDEED Marketin 550
4359 Publishing 45 300 300
Public notices, etc 300 300
4361 Insurance 150 150
O en meetin law 150 150
4433 . Dues/Subscriptions 1,778 2,000 1,60D
EDAM 550 550
Chamber 250 250
Subscri tions 500 500
NAI OP 400
Miser 300 300
4440 Miscellaneous 6,000 6,000
Jul 4th contribution 6,000
TOTAL OTHER SERVICES 8~ CHARGES '
TRANSFERS OUT 56,979 118,150
25,000 133,650
25,000
4721 General -Fund 17,000 25,000 25,000
TOTAL ECONOMIC DEVELOPMENT AUTHORITY 189;348 259,050 273,050
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RESOLUTION 11 - 01
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
ELK RIVER, MINNESOTA
WHEREAS, Minnesota Statutes, Section 469.107, Subdivision 1, authorizes the
Economic Development Authority to levy an amount not to exceed
.01813 percent of the taxable market value in the city to fund the
Authority's anticipated budget needs for the fiscal year 2012; and,
WHEREAS, the Elk River Economic Development Authoritywill adopt and approve
its budget and will forward such to the City of Elk River pursuant to
Minnesota Statutes, Section 469.100, Subdivision 2.
NOW, THEREFORE, BE IT RESOLVED bythe Economic Development Authority
in and for the City of Elk River, Minnesota, that it hereby requests the City Council of the
City of Elk River to levy a tax in the amount of .01813 percent of the taxable market value in
the city for the year 2012 for the benefit of the Authority to be used for Economic
Development Authority purposes as provided by the statute.
Passed and adopted bythe Elk River Economic Development Authoritythis 8~' day of
August, 2011.
Ron Touchette, EDA President
ATTEST:
Annie Deckert, EDA Executive Director
N:\Depaztments\Comm„n;tyDevelopment\Economic Development\Resolutions\RESOLUTIONS\EDA levy
Resolutions\EDALEV2011 ResoLdoc
6-03-2011 12:38 PM CITY OF ELK RIVER PAGE: 1
BALANCE SHEET
AS OF: JULY 31ST, 2011
~ 240-MICRO LOAN FUND
ACCOUNT # ACCOUNT DESCRIPTION
BALANCE
ASSETS
240-1010 Cash - Micro Loan Fund
240-1150 Deposit Receivable
240-1190 Notes Receivable
TOTAL ASSETS
LIABILITIES
240-2220 Deferred Revenue
TOTAL LIABILITIES
EQUITY
240-2900 Fund Balance
TOTAL BEGINNING EQUITY
TOTAL REVENUE
TOTAL EXPENSES
TOTAL REVENUE OVER/(UNDER) EXPENSES
TOTAL EQUITY & REV. OVER/(UNDER) EXP.
1,143,144.17
50,000.00
465,481.95
1,658,625.62
465,481.45
465,481.45
1,110,693.03
1,110,693.03
113,913.14
31,462.00
82,451.14
1,193,144.17
1,658,625.62
--------------
--------------
TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 1,658,625.62
8-03-2011 12:38 PM
^ 241-DEED LOAN FUND
ACCOUNT # ACCOUNT DESCRIPTION
BALANCE
ASSETS
241-1010 Cash - DTED Loan
241-1190 Notes Receivable
TOTAL ASSETS
LIABILITIES
EQUITY
241-2400 Fund Balance
TOTAL BEGINNING EQUITY
302,950.12
384,818.95
687,769.07
679,136.67
679,136.67
TOTAL REVENUE 8,632.40
TOTAL REVENUE OVER/(UNDER) EXPENSES 8,632.40
TOTAL EQUITY & REV. OVER/(UNDER) EXP.
TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP.
CITY OF ELK RIVER PAGE: 1
BALANCE SHEET
AS OF: JULY 31ST, 2011
687,769.07
--------------
--------------
687,769.07
687,769.07
--------------
--------------
8-03-2011 12:38 PM CITY OF ELK RIVER PAGE: 1
BALANCE SHEET
AS OF: JULY 31ST, 2011
^ 245-DEVELOPMENT FUND
ACCOUNT # ACCOUNT DESCRIPTION
ASSETS
245-1010 Cash - Development Fund
245-1150 Accounts Receivable
245-1310 Due From Other Funds
TOTAL ASSETS
LIABILITIES
EQUITY
245-2400 Fund Balance
TOTAL BEGINNING EQUITY
BALANCE
413,052.72
85,903.44
144,822.77
643,278.93
615,928.83
615,928.83
TOTAL REVENUE 233,541.39
TOTAL EXPENSES 206,191.29
TOTAL REVENUE OVER/(UNDER) EXPENSES 27,350.10
TOTAL EQUITY & REV. OVER/(UNDER) EXP.
643,278.93
643,278.93
--------------
--------------
TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 643,278.93
--------------
--------------
2009-2012 Economic Development Strategic Plan
Proposed Action Steps
MISSION: The City of Elk River is committed to economic development by leveraging
viable and healthy investments, to retain and create diverse job opportunities, maintain a
favorable tax rate, supply life-cycle housing options, and foster an environment that will
result in substantial growth of our local economy.
Goal: Industrial Development
Objective: Attract new businesses & expand .existing businesses to increase the city's
industrial tax base
Action Steps:
- Expand City's inventory of available C/I land for development.
• Evaluate .current inventory of available C/I land.
• Define desired C/I market and rank by priority.
• Conduct research on site amenities required for target markets.
• Identify sites that meet site requirements.
• Evaluate assembly options (ownership, improvements, fmancing, etc}
Evaluate financing and focused marketing tools to attract target market.
- Develop a Business Resource Directory .highlighting services available from various
partner agencies for start-ups, expansion and relocations. Consider partnering with
Chamber to host Business Resource Expo.
- Enhance and promote TIF, Tax Abatement and Micro .Loan programs for eligible
development and redevelopment projects.
- Evaluate and consider fresh approach to consistent marketing image as "The Light
Industrial Hub of the Northwest Metro", materials and methods.
- Maintain and build networks with banks, brokers/developers, chamber, existing
businesses, media and others.
- Maintain annual Business Retention & Expansion visits to manufacturers with
participation -from electedlappointed officials.
- Consider DEED's Shovel-Ready Site Certification Program for marketing sites.
- Utilize DEED's Manufacturing Week to showcase existing firms.
Conduct annual update of Retail Trade Analysis with UofM Extension Service .and
share results with Chamber .and business community.
- Maintain marketing participation with the Energy City program to educate existing
business community and recruitment tool for energy-related businesses.
- Consider viability of Business Incubator Program (tenant mix, financing, space).
Goal: Rehabilitation & Redevelopment
Objective: Facilitate rehabilitation and redevelopment of deteriorating commercial
and residential areas.
Action Steus:
- Resume and complete long range master plan for guiding vision of the greater
downtown area. Design connections (to river, businesses, Lions Park, schools,
etc.l
- Joint discussion to determine role of HRA/City/EDA in redevelopment (who
leads in identifying potential areas in need of rehab or redevelopment?).
Empower HRA/EDA to look critically at potential .redevelopment areas.
- Examine available financing tools --both for public & private redevelopment.
- Encourage filling vacant C/I space with compatible businesses.
• Utilize MNCAR/MetroMSP to manage data of available C/I (sale or lease).
• Host a property manager/broker open house to share listing resources.
• Maintain "Business Development" presence on main city web page.
+ Consider expanding EDA Micro Loan program citywide for to encourage
filling vacant retail/service properties.
• Encourage and partner with .Chamber to conduct Business Retention &
Expansion program focused on retail/service businesses.
+ Evaluate potential barriers and options to encourage business relocations (e.g.
ordinances, fees, SAC/WAC rates)
- Identify patterns of vacancy rates to identify areas for potential redevelopment.
- Maintain foreclosure information to monitor and address neighborhood issues.
Evaluate resources to address issue (e.g. NSP).
- Conduct Housing Market Study to identify gaps in market, identify priorities, and
role in addressing housing needs (after 2010 census?)
- Identify, preserve and maintain prime commercial areas for future development.
Ensure tools in place to attract desired development (e.g. ordinances).
Goal: Community Image & Marketing
Objective: Identify desired image .and strategies to effect necessary changes
Action Steps•
- Joint discussion to determine role of EDA/HRA/Council to define and market
citywide image (who leads?)
- Determine best approach or a structure to develop the community's vision.
- Create marketing plan that reflects Elk River brand/image in a way that
complements other local efforts to promote the city internally and externally
(Chamber, School, County).
Goal: Transportation
Objective: Advocate proactive transportation planning and improvements that
complement economic growth.
Action Stens•
- Undertake a local proactive advocacy role to generate improvements
• Consider .connections, service roads within developments
• Limit development by land use (interim uses to preserve future corridors)
• .Make necessary improvements to existing roads.
• Consider alternative routes for east/west connections (partner regionally)
• Encourage service drives along new commercial areas (e.g. East Hwy 10)
- Consider transportation improvements in areas with redevelopment/development
opportunities.
- Consider transportation connections/traffic flow for problem areas.
- Maintain reasonable accessibility for businesses .along Highways 10 and 169
- Support the City's Transportation Plan; support the Planning and Public
Works/Engineering staff in the Plan's implementation.
i
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FOUNDATION ~~
www.ifound.org i•
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July 29, 2011
14 Counties
160 Cities
One Foundation
Catherine Mehelich q
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Elk River EDA
13065 Orono Pkw ~'
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Elk River, MN 55330-5600
Dear EDA Director and members of the Elk River EDA Cite Council,
We appreciate knowing that the Elk River EDA has made significant financial investments in the Initiative
Foundation since 1989. Thank you so much. Together with 14 counties and more than 100 cities, you have
helped to build a local foundation that creates economic motion for businesses and families. Today, I am writing
to ask for your renewed support in 2012.
With budgeting decisions becoming tougher, many elected leaders have asked us, "l~hy should localgovernment invert
in a foundation?" It's a fair question with a straightforward answer: 1) Economic development; and 2) Return on
investment.
The "Great Recession" assaulted Central Minnesota, and we are responding by focusing our resources on
economic growth and recovery. We are working to enhance quality of life and local government effectiveness
through grants and citizen engagement, and we are creating quality jobs through loans to locally owned
businesses.
An investment in tie Initiative Foundation also provides a measurable "ROL" In Sherburne County, every
donated dollar returns .an average of $5.49 in local grants, loans and scholarships. The following is a
25-year snapshot of the results achieved in your county:
• 232 grants totaling $971,380
• 39 loans totaling $2,510,000
• Created or retained 380 jobs
To help the Foundation address post-recession needs and opportunities, we respectfull,r~ request an annual
endowment contribution of $2,500 in 2012. As always, your investment will be matched dollar for dollar by The
McKnight Foundation.
Your contribution will enable us to steadily award more job-creating loans and grants, deepen public-private
partnerships, build aworld-class workforce, strengthen nonprofit safety nets, and enhance environmental and
recreational amenities that support families and business growth.
We are your foundation. We exist only to serve your community. If there is anything we can do for you, please
don't hesitate to call on us.
All the best,
Matt Kilian
Vice President for External Relations
405 First St. SE Little Falls, MN 56345 320.632.9255 Equai Opportunity Lender. Provider and Employer
:~~,4
U ~ _.
Our time is now
The economic recession of 2007-2009 assaulted Central Minnesota. The economy-sustaining
sectors of manufacturing and construction lost more than 10,000 jobs. More than 92,000 homes
foreclosed statewide. Regional unemployment still ranges from 6.5% to 12.5%. For many families,
the recession isn't over.
25 years ago, the Initiative Foundation was created to counteract a similar economic crisis by
helping people to help themselves and diversifying the regional economy. Today, we are Central
Minnesota's only regional entity that focuses on economic growth and opportunity.
There is no doubt that the decisions we make today will determine the future of
our communities, families and businesses.
INITIATIVE FOUNDATION
Mission: Unlock the power of Central Minnesota people to
build and sustain thriving communities.
Serviceflrea: We are proud to serve the 14 counties and 160
cities of Central Minnesota.
Key Tools:
• Provide loans to businesses that create quality jobs
• Award grants to nonprofits, governments and schools
• Build public-private partnerships that lead to action
• Nelp generous people give back to their communities
• Publish information on local trends and solutions
r ~ r" ~~~#fr -F r s ~ l~ ~l"£'.*+~`vl ~2 };~~ ,)~ i '~6~ ~+ ~~ ~ S'Y s ~ ~ ~a2a Y, f
3- S ~ ~ E ~ ~'? ; ~ ~ c ~ p "FTT 's`nu'y~ T ~,C` _ ,'E""t 6- ~ .~ y t ~'
Six ways local governments and the Foundation can work together...
3.. Apply for a Grant
The Foundation awards quarterly grants {$5,000 average) to projects that:
• Help communities address barriers to business growth and employment
• Advance economic self-sufficiency for vulnerable children and families
• Support training programs for future, displaced or underemployed workers
• Help businesses survive and grow through access to consulting services and education
• Help communities improve efficiencies through shared services
2. Refer Businesses for Financing
The Foundation partners with other lenders to make business loans {up to $500,000) that create
quality jobs. We can help coordinate financing packages, subsidize management training for
borrowers, and serve as a key piece of the puzzle that enables a local business to start up or
expand.
3. Engage Citizens & Train Leaders
The Foundation hosts programs, workshops and leadership discussions related to community
planning, economic development, nonprofit management, early childhood and environmental
preservation. Our newest effort is the Thriving Communities Partnership that connects the
public and private sectors to address economic growth and recovery.
4. Recover from Disasters
If your community experiences a tornado, flood or other disaster, please call the Foundation
immediately. We can host and promote a charitable relief fund, accept online donations, and
make distributions at no charge. Timing is critical to take advantage of news media reports.
We can also provide grants and staff assistance for community recovery and rebuilding.
5. Start a Community Foundation
From 2011 to 2030, nearly $48 billion may be passed from one generation to the next in central
Minnesota. Does your community have a local foundation to accept gifts, bequests, or
even real estate? We host these funds and often provide matching gift incentives. Community
foundations are wonderful resources that provide local dollars and promote generosity.
6. Find Solutions
If you are facing a unique challenge, we are usually able to refer you to
professional expertise, possible funding sources, or other organizations
that have had similar experiences. lust give us a call!
405 First Street SE ~ Little Falls, MN
877.632.9255) www.ifound.org
F
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-.
"By supporting the
Foundation, we invest
in programs to help
::individuals, companies,
and our communities
build a stronger. economic
and social environment
for long-term success."
-Larry Korf
Genola Mayor ~ Foundation Trustee
Five-year Strategy & Goals
We believe that a quality job is the most essential
element of a stable family and a thriving community.
Through our 2010 Key Stakeholder Survey and regional focus groups,
more than 1,200 leaders indicated that economic and workforce
development should be the Initiative Foundation's top priority.
Creating economic opportunity requires a total Quality of Life approach
that goes beyond traditional business development efforts. This
includes providing targeted business financing, deepening public-
private partnerships, preparing the current and future workforce,
strengthening nonprofit safety nets, and enhancing environmental and
recreational amenities that support families and business growth.
Resilient Businesses
• Invest in economic drivers like technology and manufacturing
• Secure 1,500 quality jobs that pay at least $35,000 per year
Thriving Communities
• Build a world-class workforce, starting with early childhood and youth
• Enhance quality of life, natural resources & recreational amenities
Effective Organizations
• Strengthen nonprofit ability to reduce employment barriers
• Improve fiscal health of nonprofits that provide critical safety nets
Local Philanthropy
• • Create community, agency and donor funds that benefit local projects
~ ~ (~ ~ • Raise $14.6 million in endowment and external funding
_ `
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~f:fi~~r
~` "Jobs are top priority right now Counties don't create jobs in the
~, _
~~, private sector, but we can support those who do. The Foundation is
a key strategic artner in hel ing us to keep our economies vibrant,
k p P
., ~_ diverse, and growing." -TIrr1 Howe ~ c,ow I'~ri~ag Gountyfldrninistrator
Every donated dollar is matched by The McKnight Foundation and
returns an average of $5.55 in grants. loans and scholarships to
Central Minnesota communities.
Return on y0U C I ClV2StCl"1e~$
Benton j Donations* to
Initiative Foundation
$297,000 Investments** in
Local Communities '.
$3,231,000
ROI
988%
Cass $502,000 $3,468,000 ': 591%
Chisa o ~ $333,000 $2,461,000 638%
Crow Win $1,076,000 $8,219,000 664%
Isanti i $1,062,000 $2,588,000 144%
Kanabec I $112,000 $922,000 727%
Mille Lacs $520,000 $3,070,000 I 490%
Morrison $1,083,000 $4,836,000 347%
Pine ~ $525 000 $2,414,000 i 360%
Sherburne $658,000 $3,613,000 ~ 449%°
Stearns
Todd _ $993,000
$705,0
00 _ __$_11,453,000
$2,97
2,000
! 1;054%
321%
~
Wadena
Wright _
___
~ $295,000
+---
$483 000
- _._ _ _ _
_
_
$3,003,000 _ ~
X4,369,000 T
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~ __
__
919%
805%
TOTAL , $8,643 000 ~ ~ ~
~,
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*Rounded numbers include individual, business, government and utility donations, 1986-2009.
"Rounded numbers include nonprofit grants, business financing investments and
scholarships, 1986-2009.
YOUR CONTRIBUTION IS WORKING
Since 1986, we have invested nearly $60 million in the region
through targeted grants and business financing investments.
• 10,511 quality jobs created or retained
• 858 business financing investments totaling $38 million
• $242.9 million in private business investment leveraged
• 3,500 grants totaling $21.7 million
• 660 scholarships totaling $528,372
• 6,007 community leaders trained
"Following a devastating
tornado in June of 2010,
we were a community
in crisis. The foundation
made resources available
immediately to address
our critical and basic
needs. We are deeply
grateful for their
continuing efforts
to support the
long-term effort of
rebuilding Wadena."
-Wayne Wolden
Wadena Mayor
Initiative
FOUNDATIOItiT
www.ifound.org
Matt Kilian
Vice President for
Exterra; Relations
mkilianCifound.org
405 First Street SE
Little Fa!is, MN 56345
Direct: 320.63L2015
Ce!I: 320257. i 756
Office: 320.6329255
We're YOUR FOUNDATION, and we're here to serve ~. 405 First St SE
YOUR COMMUNITY. If there is anything we can do Initlatlve~~ Little Falls,MN 56345
for you, please don't hesitate to cal l on us. F ®U N D AT I O N 877.632.9255
www.ifound.org