7.3. EDSR 06-15-2020 Elk Request for Action
River
To Item Number
Economic Development Authori 7.3
Agenda Section Meeting Date Prepared by
General Business June 15, 2020 Amanda Othoudt,ED Director
Item Description Reviewed by
Director Report Cal Portner, City Administrator
Reviewed by
Action Requested
Information presented for discussion to keep the EDA updated on development activity.
Background/Discussion
BUSINESS VISITS
We are working on conducting BR&E visits utilizing a combination of an online platform and in person visits
beginning in June.
MISCELLANEOUS
DEED Bi-weekly Conference Calls
Staff participates in weekly calls facilitated by DEED Commissioner Steve Grove which keep economic
development professionals up to date on changes to federal and state loan programs and resources available to
local businesses.
EDA WEBSITE
We have updated our website to include relevant COVID-19 updates and will update as new information
becomes available.
PUBLIC ART RFP
The RFP was released, sent to artists groups and is available on our website. The registration deadline is June
17, 2020, and proposals are due June 19, 2020. To date,we have not received any proposals for public art. We
will be pushing the RFP out to the artist groups again and following up with all our inquiries.
EDA STRATEGIC PLAN UPDATE
Following the EDA Strategic Plan work session on June 3, 2020, staff conducted an Elk River site tour with
Stantec, Inc. Stantec is planning to hold our first round of focus groups on June 24. We are looking for
stakeholders, representing the real estate and development community,downtown business community, and
non-retail businesses.
EDA COVID-19 SMALL BUSINESS EMERGENCY MICROLOAN PROGRAM
To date,we have received 12 inquiries for the program, and 9 applications submitted. Staff reviewed the first
round of applications and plans to hold a special meeting of the Joint Finance Committee to review all the
applications and provide a recommendation to the EDA. A special meeting of the EDA will be held to take
final action on the applications.
The Elk River Vision
A welcoming community with revolutionary and pirited resourcefulness,exceptional service,and community
engagement that encourages and inspires prosperity P 0 w E H E D 0 Y
ItAIAT_ IJR
TOGETHER ELK RIVER MARKETING CAMPAIGN
The Subcommittee continues to meet on a bi-weekly basis and gaining momentum. The Subcommittee has
made some great strides on this campaign. Electronic Billboards across Elk River display the Together Elk
River Logo. Stickers,Window Decals and Yard signs are printed and ready for distribution. We have 16 new
businesses registered in our online business directory, and four businesses requested decals. Over 75 Residents
requested Together Elk River decals.
SHERBURNE COUNTY COVID-19 OUTDOOR CAPACITY FUND
Sherburne County created the COVID-19 Outdoor Capacity Fund to reimburse restaurants and bars to assist
with the costs of renting tents and patio equipment such as tables and chairs. On June 9,2020, the Sherburne
County Board of Commissioners expanded the program and added a provision that includes a one-time 50/50
match,up to $1,000, on purchases of outdoor equipment. Qualifying businesses are also eligible for up to
$1,000 a month in reimbursement for costs to rent eligible items. All rentals and purchases require a receipt to
qualify for reimbursement.
REVOLVING LOAN FUND BALANCE REPORTS
At the request of the Commission, a copy of the Revolving Loan Fund report is attached.All loans are
showing current.
Financial Impact
N/A
Attachments
■ Revolving Loan Fund Report
■ Sherburne County COVID-19 Relief Fund Press Release
■ Together Elk River Approved Designs
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 6/11/20
Loan Loan Interest Term Monthly Principal
Borrower Date Amount Rate (Months)Payment Outstanding Current
Die Concepts 6/3/2016 $185,200 2.00%60 $936.90 $154,481.48 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $69,219.18 Y
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $26,411.45 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $12,787.95 Y
TOTAL MICRO LOANS $262,900.06 Micro Loan Fund 240
Distinctive Iron 10/1/2019 $126,000 2.03%60 $1,050.07 185,270.76$ Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 158,673.24 Y
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 151,603.21 Y
$495,547.21 DEED Jobs Incentive Loan Fund 242
Fund Cash Balances 06/11/20:
Micro Loan Fund - 240 $896,148.37
State DEED Jobs Incentive - 242 $127,963.09
For Immediate Release
June 9, 2020
Contact
Name: David Unze
Email: david.unze@co.sherburne.mn.us
Phone: (763) 765-3773
Sherburne County expands COVID-19 relief fund;
Purchases now qualify for grant funds
The Sherburne County Board of Commissioners on Tuesday made available more money in a fund intended
to help restaurants and bars cover costs to expand capacity while complying with public safety rules and
best practices.
The purpose of the fund is to help encourage economic vitality in one of the hardest-hit sectors in our
region, while re-employing as many workers as possible.
The County last month created the COVID-19 Outdoor Capacity Fund to reimburse restaurants and bars for
costs of renting tents and patio equipment such as tables and chairs.
Commissioners today added a provision that includes a one-time 50/50 match, up to $1,000, on purchases
of outdoor equipment. Qualifying businesses are also eligible for up to $1,000 a month in reimbursement for
costs to rent eligible items.
Corporate-owned restaurants are not eligible for this program. Ineligible rental expenses that will not be
reimbursed by this fund are food and beverage costs, cooking equipment, personnel expenses and taxes. All
rentals and purchases require a receipt in order to qualify for reimbursement.
The County is partnering with the Initiative Foundation, which serves the 14 counties of Central Minnesota,
to provide the relief for local hospitality businesses.
Grant applications can be found here: https://tinyurl.com/SherburneHospitality
Together Elk River is a community initiative to encourage, engage, and support local businesses, non-profits, and neighbors through challenging times.
Together Elk River is a partnership between the Elk River Economic
Development Authority and the Elk River Area Chamber of Commerce.
Share how you’re in it Together Elk River with positive social media posts and photos using #TogetherElkRiver.
Businesses, register your information, hours, deals, and more at ElkRiverMN.gov/TogetherElkRiver.
#TogetherElkRiver
#TogetherElkRiver
ENCOURAGE. ENGAGE. SUPPORT.
BUSINESSES • NON-PROFITS • NEIGHBORS
ElkRiverMN.gov/TogetherElkRiver
#TogetherElkRiver
ENCOURAGE. ENGAGE. SUPPORT.
BUSINESSES • NON-PROFITS • NEIGHBORS
ElkRiverMN.gov/TogetherElkRiver