5.2. EDSR 05-12-2003 ITEM # 5.2.
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MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: May 12, 2003
SUBJECT: Industrial Land Development Update
Issue
The City's goal is to be "the light industrial hub for small to medium-size firms in the
northwest metro region". This mission was adopted by the EDA as part of the Strategic
Industrial Marketing Plan.
• Over the past two years staff has experienced two primary barriers to successfully recruiting
small to medium sized light industrial development in Elk River. The two barriers are:
• Availability of 1.5—2 acres lots
• Land costs
At its April meeting the EDA directed the Marketing Committee to review the analysis being
prepared by Ehlers/staff and make a recommendation back to the EDA at its May meeting.
The Marketing Committee recently met on May 6th. Following an hour and a half discussion
it was the consensus of the Committee to request that the EDA consider granting an
extension of one month for the Committee to prepare a recommendation. The Committee
desires an additional meeting to specifically review and discuss different industrial
development strategy options of which to formulate a recommendation to the EDA in June.
Action Requested
Staff recommends that the EDA consider authorizing the Marketing Committee a one-
month extension to review options and prepare a recommended industrial development
strategy for the EDA's June meeting.
•