6.7 EDSR 01-17-2017
Request for Action
ToItem Number
Economic Development Authority6.7
Agenda Section Meeting DatePrepared by
General BusinessJanuary 17, 2017Amanda Othoudt, EDD
Item Description
Reviewed by
Consideration of Staff Assignments Cal Portner, City Administrator
Reviewed by
Action Requested
Confirm priorities
Background/Discussion
The EDA Bylaws, as part of the Annual meeting, suggest that the EDA consider assigning staff projects
for the year. The City of Elk River utilizes the adopted City Co
Economic Development Strategic Plan, as well as the Mississippi
performance measures to structure the annual work plan.
The EDA reviewed these goals and performance measures during theJuly 18, 2016, budget workshop
andapproved them on August 15, 2016. Based on these documents, staffs priorities will be:
Contact and network directly with real estate developers and target industry decision makers.
Grow and maintain an inventory of private and public properties
development.
Maintain financial incentives to enhance economic development
Celebrate and grow our existing businesses.
Market the City of Elk River as a destination.
Conduct 24 BR&E Visits.
Obtain Positive Publicity via at least four outside agencies eac
Personally connect with six developers to tour available propert
Promote new applications for the Revolving Loan Fund Programs and track the percentage
of applications processed to the total number of leads received.
In addition to these published priorities, the EDA approved the strategic plan in the second quarter of
2015.
Financial Impact
N/A
Attachments
2017 Adopted Budget Goals and Performance Measures
Division Performance Measures & Goals for 2017
Division:Economic Development
Completed by:Amanda Othoudt, EDD
Date:June 1, 2016
Performance Measure
2015 Actual2016 Estimated2017 Projected
Conduct BR&E Visits132424
Obtain positive publicity via at least 3
outside agencies each year344
Personally connect with developers to
tour available properties to entise
development of available properties456
Promote new applications for the
Revolving Loan Fund Programs and
track the the percentage of applications
processed to the total numbers of leads
received.
6 Applications Processed6 Applications Projected6 Applications Projected
Related Vision Statement
Division Goal
Goal/ObjectiveComments
Contact and Network directly with Real-City Vision Statement: Opportunities & EDA Strategic Recruiting: Attend targeted industry (Data Centers,
Estate developers, and target industry Strategic Plan: Business DevelopmentManufacturing, Energy, Medical Device Technology) trade shows, leverage
decision makersopportunities with local companies as often as possible by participating in
the trade shows that they attend. Identify key decision makers, provide
FAM tours of city, coordinate development meetings with
City/County/State. Partner with Positively MN, Sherburne County and
ERMU. Promote Available properties on MNCAR and MN Prospector.
Attend Annual Site Selector Guild Conference.
Grow and maintain an inventory of Establish a wetland bank to facilitate new
private and public properties available development where wetlands impede
for future developmentgrowth; shared responsibility with
EDA/Planning/Environmental
Maintain financial incentives to enhance Maximize and Leverage DEED moneis,
economic developmentInitiative Foundation, Sherburne County
Revolving Loan Fund and other financial
tools and incentives.
Celebrate and grow our existing Conduct Business, Retention and Conduct BR&E Visits and gauge the interest of starting a manufacturing
businessesExpansion visits to local businessescohort group on a quarterly basis.
Market the city of Elk River as a Contact & Network with Key Stakeholders in Strategic Recruiting: Attend targeted industry (Data Centers,
destinationthe Targeted Industries including Real Manufacturing, Energy, Medical Device Technology) trade shows, leverage
Estate Brokers/Agents. opportunities with local companies as often as possible by participating in
the trade shows that they attend. Identify key decision makers, provide
FAM tours of city, coordinate development meetings with
City/County/State. Partner with Positively MN, Sherburne County and
ERMU. Promote Available properties on MNCAR and MN Prospector.
Attend Annual Site Selector Guild Conference.