6.4 EDSR 12-16-2013 El -..-. Request for Action
River
To Item Number
Economic Development Authority 6.4
Agenda Section Meeting Date Prepared by
General Business December 16,2013 Jeremy Barnhart,Deputy Director, CODD
Item Description Reviewed by
Phase II Nature's Edge Business Center
Reviewed by
Action Requested
1. Review preliminary layout and cost estimates associated with phase II of Natures Edge Business
Center.
2. Recommend moving up the project on the Capital Improvement Plan, from 2017 to 2014, subject to
outside funding
Background/Discussion
In 2012,Phase II of the Natures Edge Business center was anticipated for 2017, five years after the first
phase,reflecting the slow economy and the absorption of the three lots of Phase I and other vacant lots
within the community. Since then, one lot has been sold, to Preferred Powder Coating. A cursory review
of the available, shovel ready lots for industrial uses returns less than 12 lots,none of which are bigger
than 15 acres. Increasing interest in available sites for business has caused staff to analyze options for
new industrial lots. Further,most interested companies do not wish to wait the 2 years necessary before
roads and utilities are ready to serve a desired site.
As a result,EDA staff believe that phase II should be pursued earlier than 2017. The City Engineer has
reviewed the costs and site plan for the development of Phase II Nature's Edge Business Center. Staff
anticipates funding of this project from several sources,including state grants. The CIP worksheet
reflects these anticipated sources.
Financial Impact
N/A
Attachments
• Draft Phase II site map
• Draft CIP worksheet
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NATURES EDGE BUSINESS CENTER 2ND ADDITION
of
River 2�-0 400
SCALE IN FEET
Scale: 1 INCH = 400 FEET
IAA i 4r�I
Capital Improvement Plan
2014 thru 2018
Department Infrastructure Improvements
City of Elk River, Minnesota Contact Engineer
Type Infrastructure
Project# II-41 ! Useful Life 20 years
Project Name Phase II Natures Edge Business Center Category Unassigned
Priority n/a
Description '
Design and construct public improvements to develop phase II of the Nature's Edge Business Center.
Justification
To provide larger light industrial/commercial lots to meet the increased demand requested by business relocating and/or expanding. The city has
experienced an increase in the number of business inquiries requiring larger foot print that can handle truck traffic,and manufacturing and
warehousing types of facilities with utilities already stubbed in.
Expenditures 2014 2015 2016 2017 2018 Total
Design/Construction 1,300,000 1,300,000
Total 1,300,000 1,300,000
Funding Sources 2014 2015 2016 2017 2018 Total
City Development Fund 100,000 100,000
Economic Development Author 300,000 300,000
State grants 500,000 500,000
Trunk Utility Fund 400,000 400,000
Total 1,300,000 1,300,000
2014-2018 CAPITAL IMPROVEMENT PLAN Page I