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INFORMATION 2 10-01-2012 INFORMATION \-i„./,,City of Elk 4.,....,. MEMORANDUM -,--. . .0„...., Ivey TO: Housing Redevelopment Authority FROM: Annie Deckert, Director of Economic Development DATE: October I, 2012 SUBJECT: Executive Director Update The purpose of this periodic memorandum is to keep the EDA and HRA informed of ongoing activities in the Economic Development Division which don't require formal action. Nature's Edge Business Center (NEBC) The final plat for Nature's Edge Business Center has been received and will be recorded at Sherburne County. Staff is working with MNDEED to begin disbursements from the $250,000 BDPI grant to assist in covering the costs for the first phase of improvements. Sanitary sewer,water main and storm sewer construction is complete at NEBC. Final site grading is nearing completion and will then be seeded and mulched. Crews expect to place the roadway aggregate base in the coming week followed by the concrete curb and bituminous paving. 2013-2016 Economic Development Strategic Plan Both the HRA and EDA authorized staff to move forward with the creation of the 2013- 2016 Economic Development Strategic Plan. Staff is working to compile information, recommendations and goals from existing plans and studies,and anticipates bringing forward for HRA and EDA review at a future work session. Granite Shores Staff attended a broker's event held by Granite Shores to discuss their commercial space. Area and metro brokers were invited to provide input and suggestions to fill the vacant space. Three brokers attended the lunch, and it was the consensus of the group that filling the space with retail and/or commercial would be extremely challenging. Their works with retail/commercial tenants indicate their desire to be along Hwy 169,not Hwy 10. They indicated that limited parking was a major deterrent and encouraged soliciting executive type office uses. The brokers also indicated Granite Shores lease space was considerably higher than all other available space in the area, and highly encouraged Granite Shores to accept and work with any and all offers they received from potential tenants. Staff provided community information, downtown parking maps and incentive information to the brokers. POWERED 6f NATURE EDA Micro Loans The first Energy Efficiency Improvement Micro Loan closed at the end of August 2012. Applicant,Pamela Sitts, of P.S...Dance Studio anticipates moving into the building sometime in November. At their September 10 meeting, the EDA authorized a sub-committee formed off EDA Commissioners Tveite,Dwyer and Provo to discuss use of the$703,000 DTED fund balance as a potential forgivable grant program as an incentive to promote available city/EDA owned lots and to help existing manufacturer's to expand. Rough guidelines were compiled and staff will work with the state to get approval. Once approved,the EDA Finance Committee will review and ultimately the EDA will approve. State approval may take a month or so. Greater MSP Greater MSP is a private-public partnership funded by businesses,institutions,and government,whose mission is to stimulate economic growth and prosperity,and higher quality of life for residents in the Metropolitan region. We have been working with GreaterMSP on potential leads and have provided them with information regarding our available sites and funding programs. MN Community Capital Fund (MCCF) Staff met with Scott Martin President of the Minnesota Community and Capital Fund (MCCF) to discuss business financing options available from the MCCF. Elk River is a Class B member which means that it can originate loans up to $500,000 through the MCCF. Staff has provided this information to local bankers,manufacturers and developers. Information is also available in the EDA Business Finance Toolkit and website. Business subsidy reporting Staff continues to complete the mandatory annual reporting to the state for other tax abatement and business subsidy agreements. Housing Study The 2012 Comprehensive Housing Market Study was presented to the HRA and City Council on September 4. Staff presented the housing study to the Multi Housing Crime Prevention (MHCP) group at their September meeting. The study has been requested numerous times and has received positive feedback from not only the MHCP group,but local developers. We will utilize recommendations from the plan as for the creation of the 2013-2016 Economic Development Strategic Plan. Community Economic Development Strategy (CEDS) Region 7W Economic Development Staff attended the quarterly Community Economic Development Strategy (CEDS) roundtable meeting for Region 7W to discuss establishing a CEDS for our region. Several economic development and administrative staff were in attendance from cities and counties in our region (Sterns,Benton,Sherburne,and Wright). Staff provided a thorough update of Elk River happenings. Staff members from both Sen. Franken and Rep. Bachmann's offices were present and indicated they were impressed with what Elk River has accomplished. N:\Departments\Community Development\Economic Development\HRA to move\Agenda\Year 2012\10-1-12 Agenda\Executive Director update 10-1-12.doc Elk Park Business Center Staff visited with management from Fashion Bug who indicated they will remain open until January of 2013. Staff is working closely with Brixmor properties to fmd a tenant for their 8,400 square foot space. Staff has also been working with Brixmor properties to discuss the placement of mailboxes in the parking lot of Elk Park Center. Planning staff has provided the USPS all the information needed to move forward with this request, however the USPS has not contacted Brixmor. Realtor's Day On August 8, an Elk River Realtor's Forum was held at City Hall. Six city staff members presented information about the city to 19 area realtors. Mayor Dietz welcomed the group, and city staff presented information encouraging realtors to use city resources. The event built relationships between city staff and realtors and encouraged open and active communication. Feedback about the event from the realtors was positive;each indicated they would be interested in a similar event held annually. Economic Development staff met with the President of ReMax Results Realty to discuss the Micro Loan program as a result of the Forum. Business Retention/Expansion Visits Economic Development staff and Council Members Motin and Westgaard visited Professional Service Bureau (PSB) on Wednesday, September 5. PSB shared some concerns about their current parking situation due to their number of employees (currently 70, anticipated to be 100 by the end of the year) and increased traffic from Spectrum High School. Staff has been working with their property owner,Pat Briggs, to discuss potential solutions to their problem and anticipates coming forward to the EDA to discuss at a future meeting. Minnesota School of Business- Elk River Campus Staff met with MSB Business Program Chair to discuss potential service learning projects between Elk River MSB students and small businesses. MSB Business instructors work with their students and small business owners to assist in the creation of business plans, financial analyses, etc. This is a great tool to add to our business finance tool-kit. Staff has provided the MSB resource to several local businesses. Additionally, there may be an opportunity for staff to partner with MSB students in the creation of the housing intern posting. Powered by Nature Community Brand The Powered by Nature brand was featured at the August 9th and 10th International Economic Development Council Marketing and Attraction Training Class. Elk River's progress implementing the brand impressed IEDC instructor Linda DiMario who decided to use Elk River as an example of a community that"has taken control of their"ground game" to build momentum for their community identity". Staff was approached by the City of Clearwater to discuss the success of Elk River's Powered by Nature Community brand. The City of Clearwater plans on beginning the branding process,utilizing Elk River's process as their model. Initiative Foundation N:\Departments\Community Development\Economic Development\I IRA to move\Agenda\Year 2012\10-1-12 Agenda\Executive Director update 10-1-12.doc The Initiative Foundation awarded a grant to the Economic Development Authority in the amount of$1,150 for tuition for the Assistant Director to attend a National Development Council finance course in October. The finance course will focus on credit analysis, fixed asset financing,real estate finance,and economic development finance programs. This is the second course of a four-course program in the Economic Development Finance Professional Certification. Foreclosure Prevention&Housing Programs Staff completed our quarterly mailing of foreclosure prevention materials and included our new housing program tool-kit to approximately 100 area bankers,realtors, non-profits, churches and other organizations in efforts in increase awareness on the topics. ATTACHMENTS: • IEDC Press Release N:\Departments\Community Development\Economic Development\I-IRA to move\Agenda\Year 2012\10-1-12 Agenda\Executive Director update 10-1-12.doc ,/i News Release City of Elk For Immediate Release •�.�-, River Contact: 13065 Orono Parkway Clay Wilfahrt Elk River,MN 55330 Assistant Director of Economic Development 763.635:1000 763.635.1090(fax) 763.635.1041 cwilfahrt @elkrivermn.gov Powered by Nature Brand Recognized by the International Development Council in Atlanta, Georgia Elk River, Minn. —The International Economic Development Council (IEDC) has taken notice of Elk River Community brand—Powered by Nature. The IEDC, the world's largest professional organization for economic developers with over 4500 members internationally, featured the Powered by Nature Brand as an example of a successful brand implementation at a recent economic development marketing and attraction course in Atlanta. Currently, over forty business and organizations use the Powered by Nature brand to market their business. Additionally, over fifty business owners and residents in Elk River provided video testimonials about what the brand means to them. These and other initiatives,including the Powered by Nature blog, caught the attention of IEDC instructor Linda DiMario who said Elk River is "an example of a city, community and Economic Development Authority that has taken control of their ground game to build momentum for their community identity!" DiMario will used Elk River's brand to teach others how to engage a community to create a community identity. The Elk River EDA kicked off the branding journey in December of 2010 with branding consultant chandlerthinks. The community brand,Powered by Nature,was presented to the community in September of 2011 and has been quickly embraced by area businesses, organizations and residents. More information about the Powered by Nature brand can be found at www.poweredbynature.com or www.poweredbynature.blog.com Io POIEflia BY NATURE