5.0. EDSR 04-11-2005 •II Item 5
City of
Elk
River
MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development(
DATE: April I I, 2005
SUBJECT: EDA Brown Property Development Update
Background
Request-For-Proposal (RFP) materials were prepared and mailed to 20 developers and
brokers in early February. Development proposals were received from Duke Realty
Corporation and Amcon Construction Company. At its March meeting the EDA reviewed
the proposals and directed staff and Ehlers to meet with the two developers to gather more
• information about how their proposal would benefit the EDA and development of the
business park. In addition, the EDA discussed the public improvement schedule for the
park. The EDA recommended that the Council authorize a feasibility study for the public
improvement project based on the EDA's initial development concept.
Recent Activities
Public Improvement Project
At its April 4 meeting the City Council adopted a resolution ordering a preliminary feasibility
report for the proposal industrial park improvement project. The City Engineer anticipates
that the report will be completed for presentation to the EDA and Council next month.
Development Proposals
Staff and Ehlers have met with the two developers for further discussion on their proposals.
The developers were encouraged to submit additional information that would indicate how
they would provide a benefit to the EDA and development of the park through a master
developer concept and to further redefine concepts for the use of the park. Staff will
continue to meet with the developers over the next month in preparation of a report on the
new developer information for the May EDA meeting.
•