7.7. EDSR 08-17-2020 Elk Request for Action
River
To Item Number
Economic Development Authori 7.7
Agenda Section Meeting Date Prepared by
General Business August 17, 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 scheduling BR&E visits and GROW MN Visits with the Elk River Area Chamber of
Commerce utilizing a combination of an online platform and in person visits. A GROW MN survey was sent
out to 28 businesses.
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.
COVID-19 SMALL BUSINESS EMERGENCY MICROLOAN PROGRAM
To date,we have received 14 inquiries for the program, and eight applications were approved. No new
applications were received. A grand total of$97,374 is expended from the total program dollars, of which
$27,374 is eligible for forgiveness and$70,000 is eligible for reimbursement through the CARES Act.
EDA DASHBOARD REPORT
Lead generation comes from participating in several different activities, conferences,and events throughout the
year.
In 2019,BR&E Visits accounted for seven leads on prospective projects. Distinctive Iron,Inc. moved forward
with their project in 2019. Four projects are classified as pipeline projects that may occur in the future, or
within the next five years. One lead lacked feasibility, and one received information and assistance from staff
on DEED's JTIP program but decided not to move forward with submitting the application.
In 2019, by participating in a MN Marketing Partnership event (FAM Tour) Copart, Inc. moved forward with
their project. Phone calls represent eight substantiated leads, one resulted in a potential project win (existing
property under contract), and four pipeline projects. Two of the leads resulted in a lack of feasibility.
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness,exceptional service,and community
engagement that encourages and inspires prosperity P 0 w E H E D 0 Y
ItAIAT- IJR
In 2020, to date,BR&E Visits accounted for three total leads. One project was a win and two are pipeline
projects. MNCAR generated four project leads, two of the four projects are moving forward (CHDC Multi-
Family project and Shoot Steel, Inc.). Two projects lacked feasibility.
Phone calls and BR&E visits continue to generate the most leads,with BR&E visits creating most of the
pipeline projects. MNCAR follows in the total number of leads generated by online property listings. Other
leads are generated by our participation in activities by Greater MSP,MN Marketing Partnership, EDAM, Site
Selector Guild, and Economix.
SHERBURNE COUNTY CARES ACT GRANT TO NON-PROFITS
Sherburne County has created a grant program to provide certain community support organizations funds to
make up for losses related to the COVID-19 pandemic.
A one-time grant of up to $75,000 is available to qualifying Sherburne County non-profits that have been
adversely affected by the COVID-19 pandemic during March-July 2020. It is anticipated a second round of
grants will be solicited later this year for the period of August—December 2020.
To qualify for the reimbursable grant of up to $15,000 per month, organizations must have at least 2 full-time
equivalent employees and demonstrate expenses related to fixed/capital costs, operating costs,personnel costs
or revenue loss.
Eligible non-profits applying for these funds may NOT use County grant funds for eligible expenses covered
by other Local, State or Federal funds.
SHOOT STEEL, INC.
Shoot Steel,Inc is requesting up to $400,000 in financial assistance from the city in the form of Tax Increment
Financing to construct their new facility. Staff is seeking direction from the council on their interest to
entertain a TIF application from Shoot Steel,Inc before the applicant submits their application and the $10,000
fee.
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
■ Dashboard Report (to be delivered at the meeting)
■ Sherburne County Cares Act Grant Program for Non-Profits
O
N
M
N
OD N
N
N C C
jO LL y O O O O O
m m O O O O O
fl m m O O O O O
O L ° > O O 6c} O O
C m J O O O O
(B } 2! 0 H? F/} F/} F/}
04 L C LL
C �
U O O O O O
— CD O O O O O
LL
-0 N o- O O O O O
Z o M '� 0 0 0 0 0
J c o ui o ui o
' N H? 04 64 N
U o w 00 L d 6c� 6cr 6cr
w O
� Q
CD O O co ti o) LO M r— rl- I— I— I—
_ f� ":t O N LQ O N O
C N M N O LO LO O C O O
N o.fl C O M O O Co O N f-- O L O) Co Co
M U (B Oo Ofl O O O O O O
M f� LO N OD f— f— O O
dO 64 H? 64 CVS -'t d
F/}
O O L ti ti O C � � � �>' O Co N Co O f— Co O O O O O�
O L N O Lri M O ND N N N N N
O i C M O N LO
7 O O O ti M O O O E O
U a H? H? F/} 6c} - N N
64 64
Q N O O O O O
� L Co Co Co Co Co
z O O ON O O O
O) O O O O O O 00 O) O
W ~ F-
75 75
0- U) y o 0 0 0 0 0 0 C N o 0 0 0 0
O z O) N O) 00CD CD 0 0 0 0 o CY) CD CDO O O) O O O O O
J Q L O) O O O O O O O L O)
O U E N M M M N N M U C
W O O O LO O O O O O O O O
0 O O O O ti O O O O O O O O
N O O O O O C O O O O O
U (� 7 LO O � O O O O 7 0 O O O O
O OD O ti N O O m O O O O O O
J Q � � J � 04 04O 6p, fr fr Q � �
Z 64 Ef3, Ef?
O Co Co M OD O LO OO O O O O O
N N N N N
W O O O O O O (D O O O O O
C N N N N N N N N U) O N N N N N
(B M N O co (D I— (B M M (.0 C (.0 � �
W Ob O N O OD O Q ao af-- f— f— f-- f—
J N O OO ti J J
L.L U
J p�
W
E
w
U)
Z U) m
Q � m Q
Y O °o J a O
L o_ Q' J N-a w
U) o
04
O) J O) O X U 7 LL LL
L " O _
°� � °
0 U Q Q O � Q � m E
L L0 LD F L/)
O O L 0 Q
co D 2 cn 0 U U Q a a
CD
CD
CD 0 0 0
6 6 4 4
«> O r— r—
O M M
LO N I-
61} F/} N
H?
O O O O
O O O O
O O It It
O O f— f--
O O M M
O L N ti
N H? H? m
Ef} d?
I-- ti 00
O O ti
co O
co
N O O
N N N
O O O
N N N
N N N
O O O
co co co
0 0 0
O O O
O O O
O O O
O O I�t
O O f—
O O M
O L N
Ef}
O O O O
O O O M
M M M co M
co co co co CD L
L6
O M
0
E!? d?
N
O �
N N
M '
r N
o
O C:
NO
U V N c
c
c m o
U) m LL
o C p
LU U 0 D
ii > w
o 0
c� � U
i� w w Li c�0
For Immediate Release
Aug. 10, 2020
Contact
Name: David Unze
Email: david.unze@co.sherburne.mn.us
Phone: (763) 765-3773
County CARES Act grant funds available
to community non-profit support groups
Sherburne County has created a grant program to provide certain community support organizations funds to
make up for losses related to the COVID-19 pandemic.
A one-time grant of up to $75,000 is available to qualifying Sherburne County non-profits that have been
adversely affected by the COVID-19 pandemic during March - July 2020. It is anticipated a second round of grants
will be solicited later this year for the period of August – December 2020.
To qualify for the reimbursable grant of up to $15,000 per month, organizations must have at least 2 full-time
equivalent employees and demonstrate expenses related to fixed/capital costs, operating costs, personnel costs
or revenue loss.
Eligible non-profits applying for these funds may NOT use County grant funds for eligible expenses covered by
other Local, State or Federal funds.
This is the second grant program the County has created to assist with COVID-related losses. The Business Relief
Fund created in late July made grants available to County businesses.
The non-profit grant funds may be used for rent or mortgage payments, payroll for current employees, working
capital and operational costs for the community resource(s) provided by the organization. Funds may not be
used for purchasing machinery or vehicles, moving expenses, land acquisition, or the payment of property taxes.
The County will determine in its discretion the appropriate amount of a grant and the eligible costs and expenses
for each eligible non-profit. Applications will be accepted beginning Aug. 10 through Aug. 31, 2020.
To learn more about the fund, qualification requirements and ineligible businesses and to apply, go to
https://www.co.sherburne.mn.us/FormCenter/Grant-Application-Forms-18/Sherburne-County-COVID19-
Community-Resou-99