6.5. EDSR 08-17-2015
Request for Action
To Item Number
Economic Development Authority 6.5
Agenda Section Meeting Date Prepared by
General BusinessAugust 17, 2015Amanda Othoudt, EDD
Item Description Reviewed by
Director’s Report Cal Portner, City Administrator
Reviewed by
Action Requested
Information presented for discussion only in effort to keep the EDA updated development activity.
Background/Discussion
BUSINESS VISITS
Amanda, Tom Sagstetter, and Jolene Fenn-Jansen met with Rich Gareis of CDI Curbing to discuss
upcoming electrical service changes resulting from Elk River Municipal Utility’s (ERMU) territory
acquisition. They submitted their billing history for analysis.
DEVELOPMENT ACTIVITY
Ebert Construction Development Proposal
We received the appraisal from Nagell Appraisal & Consulting services and negotiations have gone well
as we continue with the land assembly. We will obtain a title commitment for the adjoining parcels to
determine fee ownership of the MnDOT parcel. The next step in the process is to contact the fee owner
of the MnDOT parcel and negotiate purchasing the remnant parcel.
Data Center Site Visit
ERMU attended a site visit, which went very well. There were several highlights that seemed to peak their
interest:
Five electric feeders in the area that are served from multiple substations.
Enough capacity to serve their needs without having to build new infrastructure.
A water supply from aquifers and the great water quality.
Electric reliability and new measures to improve on already outstanding performance.
Competitive and stable electric rates and the possibility of participating in the dispersed
generation program (provide demand credits if they are able to shed load during peak times).
Two existing data centers and our experience to supporting their needs.
GROUND BREAKINGS/RIBBON CUTTINGS
Amanda and Councilmember Jerry Olsen attended the Hajime ribbon cutting ceremony hosted by the
Chamber of Commerce. The ceremony was well-attended and we had a chance to sample some of their
amazing food, hear their success story, and network with local business owners.
MISCELLANEOUS
Sherburne County EDA Meeting
Amanda attended the Sherburne County EDA meeting where they discussed the Sherburne County
Revolving Loan Fund Program. The program will be another tool for the Sherburne County
communities to utilize for gap financing. The minimum business loan amount is $25,000 and the
maximum is $100,000. The program will be put in place by late fall of this year.
Upper Midwest Economic Development Course
Colleen attended the Upper Midwest Economic Development Course offered through the University of
Minnesota-Duluth Center for Economic Development. The course covered business retention and
expansion, strategic planning, marketing/attraction, economic development finance, small business and
entrepreneurship development, community neighborhood development, real estate development,
workforce development, and managing economic development organizations. Fellow classmates were
from greater Minnesota as well as North Dakota, South Dakota, Iowa, and Wisconsin. The classes were
informative and meeting fellow economic professionals from around the Midwest was priceless.
National Development Council – Economic Development Finance Course
The National Development Council (NDC) offers intense, rigorous courses focused on finance for
economic development professionals. Each course covers as many hours as an average college class, and
culminates in a final examination. Courses teach crucial economic development finance skills.Amanda
will attend the Economic Development Finance class at the end of August. The courses are part of a
four-course Economic Development Finance Professional certification.
Following the completion of this course, the National Development Council requires three more courses
for the certification. Staff plans to take advantage of the cost savings for travel associated with the
remaining courses, as they will be held in Minneapolis in 2016.
Financial Impact
None
Attachments
None