Loading...
EDSR MEMORANDUM 01-10-2000 .-Q \4 4i , ityof „/ .lkRiver MEMORANDUM TO: Economic Development Authority FROM: Paul Steinman, Director of Economic Development DATE: January 5, 2000 SUBJECT: Agenda Memo for the January 10, 2000, EDA Meeting 5. Annual Meeting Issues a. Election of Officers —The EDA bylaws indicate the following offices are to be filled through the election process at the annual • meeting of the Authority. The 1999 officers were as follows: • President— Pat Dwyer • Vice President —Jeff Gongoll • Treasurer— Larry Farber • Secretary— Daryl Thompson • Assistant Treasurer— Paul Motin b. Appoint Executive Director— The EDA bylaws indicate that the appointment of an executive director is required at the annual meeting of the Authority. c. Designate Official Newspaper— The EDA's current official newspaper is the Elk River Star News. Staff recommends redesignation of the Elk River Star News as the official EDA newspaper for 2000. d. Designate Official Depositories —Past practice has been for the EDA to designate depositories identical to those designated by the City Council. For 2000, the EDA is asked to designate the following banks and institutions as depositories for its funds: • First National Bank of Elk River • ■ 4M Fund • Norwest Bank • The Bank of Elk River • USBanks 13065 Orono Parkway • P.O. Box 490 • Elk River,MN 55330 • TDD &Phone: (612) 441-7420 • Fax: (612)441-7425 EDA Agenda Memo January 10,2000 Meeting Page 2 • Staff recommends designating the above-referenced banks and institutions as official depositories for the EDA for 2000. e. Consider Commission Appointments and Assignments — The EDA currently maintains the following committees: Finance Committee Jim Simpson Tom McNair Tom Bender Jeff Gongoll Dan Tveite Cliff Lundberg Vacancy - (Lloyd Brutlag's former position) Business Incubator Advisory Committee Stephanie Klinzing Jeff Gongoll Daryl Thompson • Larry Hickman Jim Barthel Jack Mowry Marketing Committee Jim Barthel Gary Santwire Chris Carlson Renee Sande Dr. David Flannery Jim Simpson Daryl Thompson There currently is only one vacancy—that is on the finance committee. It is appropriate to select a replacement for this position at this time. Staff welcomes suggestions from the commission. Staff recommends reappointment of the other current membership of the finance committee, business incubator advisory committee, and the marketing committee. • f. Review Enabling Resolution/Bylaws for Suggested Changes The EDA annual meeting provides the opportunity to review the bylaws EDA Agenda Memo January 10, 2000 Meeting Page 3 111 and enabling resolution, which are attached, for suggested changes by the commissioners. 6. Community Venture Network Membership Staff had agreed to bring this issue back before the EDA prior to the next regular meeting of the Community Venture Network (CVN). The next meeting of this group is on February 4, 2000. As you are aware, CVN is a program whereby approximately eighteen communities pay to have a minimum of 24 prospects presented to them over the course of a one-year period. Our current membership runs through July 1, 2000. This includes two more meetings of the CVN and presentation of at least twelve additional prospects. Staff has been noticeably unimpressed to date with prospects presented through CVN. The initial prospects included numerous ".com" companies asking for a significant amount of cash and being able to provide little or no collateral in return. The second meeting included fewer "virtual" companies, but companies that were still unbankable or had other related challenges to completing a project. • Staff had initially felt as the EDA joined CVN last year that the prospect quality would increase due to the hiring of an individual to focus efforts on CVN program. Unfortunately this has not turned out to be the case. Recommendation Staff recommends the EDA authorize a letter to be sent to Pelstring Capital Corporation canceling membership in the CVN program and requesting a pro-rated refund in the amount of approximately $2,000. 7. Rotary Club Committee Presentation Attached is a copy of a memo to the Elk River EDA from a committee of the Elk River Rotary Club. The memo provides a description of a project to complete a barge replica to be used as a performance stage on the river side of the EDA site at Jackson and Main Street. • EDA Agenda Memo January 10,2000 Meeting Page 4 • Staff Analysis Staff poses the following questions regarding the proposed project: • What is the overall future plan for the central business district? • How does the proposed project fit into this overall plan? These are probably the two most important questions to ask regarding the proposed project. As the EDA is aware, the HRA has attempted, over the past year and one half, to complete a process of developing a vision for the central business district (CBD). The second part of developing such vision for the downtown area includes the hiring of a designer to work with the city and downtown business people to put together a physical plan for the central business district that can be implemented over time. The visioning process has had limited success due to somewhat lackluster participation on behalf of the CBD stakeholders. It was the intention of staff to ask the HRA this spring to consider hiring a designer to complete a CBD plan. Such plan would be a modification of the past riverwalk/CBD plan, but would include a process to gain input into various aesthetic improvements and special projects such as an amphitheater on the EDA site. Such public process and information gathering is critical to gain public buy-in to special projects. The most comprehensive design plan we currently have regarding the CBD is the riverwalk plan. Attached is a variety of information including artist renderings and costs regarding various sections of this riverwalk plan. One portion of this plan includes the construction of an amphitheater in conjunction with a Mississippi River overlook at the foot of the EDA site. Staff has always believed that this is one portion of the plan that would be most desirable to accomplish and would provide a focal point for potentially completing other sections of the riverwalk plan. Staff suggests with regard to the Rotary Club proposal, that the HRA continue its plan to discuss the merits of hiring a designer to modify the riverwalk plan and to expand it into the CBD, eventually providing an end product of a CBD design plan that has received an appropriate amount of public input. It is anticipated that such a plan would include recommendations for design improvements to the EDA site including a potential amphitheater/outdoor stage. This portion of a completed plan could potentially then be undertaken as a Rotary Club project if • desired. The purpose of this process would be to assure the council, EDA, HRA, and the general public, including downtown stakeholders, that they understand the process and agree upon the design plan.