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08-16-2021 EDA MIN SPECIALSpecial Meeting of the Elk River Economic Development Authority Held at the Elk River City Hall Monday, August 16, 2021 Members Present: President Dan Tveite, Commissioners Garrett Christianson, Matt Westgaard, Mike Beyer, Jennifer Wagner, Jeff Hartwig, and Charlie Blesener Members Absent: None Staff Present: City Administrator Cal Portner, Economic Development Director Brent O'Neil, Economic Development Specialist Colleen Eddy, and City Clerk Tina Allard I. Call Meeting to Order Pursuant to due call and notice thereof, the special meeting of the Elk River Economic Development Authority was called to order at 4:00 p.m. by President Tveite. 2. Discuss 2022 EDA Budget and Budget Goals Mr. O'Neil presented the staff report. Chair Tveite likes the new performance metrics. He stated a rotational tier system should be created so the same businesses aren't contacted every year when it comes to the Business Contacts metrics. Commissioner Westgaard stated separated metrics between business expansion and retention is good. He liked a deeper dive with quantifiable metrics where a prospect is more engaged than a 30 second phone call. Commissioner Wagner like the addition of the Business Contacts/Engagement in Elk River metric because it will create a positive public relationship when every existing business knows they have a direct dial to staff. Commissioner Christianson suggested the Inquiries, Prospects, and Leads metric be broken down and tied to a goal so it could be evaluated at year-end. Commissioner Beyer agreed the Business Contact metric is a good measurable. He felt 150 was aggressive to accomplish in 2022. He said you want to have the leads, inquiries, and prospects, but you also want to add in a metric for the close, which can be evaluated over time. Economic Development Authority Minutes August 16, 2021 Page 2 Commissioner Wagner agreed. She further stated the New Prospect metrics help to justify the conferences. Commissioner Westgaard agreed and felt the results should be proportionate throughout the metrics, citing an example of for every 50 inquiries, there's 20 leads, and one close. Ms. Eddy stated there could be a lot of inquiries, but the city may not have what is being asked for to get the close, such as available land. It was noted these metrics could help uncover these types of issues. Commissioner Beyer further suggested reviewing the metrics on a quarterly basis. Consensus of the commission to support the division goals provided. Process Mapping Ms. Eddy explained process mapping. Commissioner Wagner asked how data would be imported and how many visits there are to the mapping site in other cities. Ms. Eddy stated CitizenServe houses the data that could be integrated with the mapping software, and she would bring back the visitor data. Chair Tveite stated there is internal and external value in the program and it would be a talking point on business contact and engagement. To Elk River Subcommittee Commissioner Wagner stated a conversation is needed about the implementation of what the program proposes to accomplish. She stated she loves doing the work, but she can't be the person to implement all the campaigns the subcommittee has created. She stated it would be her desire to have staff lead the campaign/initiative. She questioned whether to keep this line item in the budget if there aren't people who can implement it. She stated she doesn't have the capacity as a volunteer to continue implementing the program. Commissioner Blesener noted the $10,000 budget was for marketing materials as opposed to compensating anyone for doing the work that staff could potentially do. Commissioner Wagner stated there should be an internal discussion about whether the communications department can do the work. Chair Tveite stated the whole program has leaned on Commissioner Wagner due to her willingness to tackle the work, but understands it takes a lot of time. rP01EREI er INATUR� Economic Development Authority Minutes August 16, 2021 Page 3 There was discussion about policy for the current fund balance and balancing the use of some of those funds to achieve the EDA's goals and objectives. Chair Tviete noted the authority will be significantly below budget in 2021 due to staffing and the pandemic and questioned use of those funds. Commissioner Westgaard questioned if there were enough funds in the budget for communicating to the business community for the 169 Refine project. Mr. Portner stated there will be more impacts in 2023 for 169 Redefine. Commissioner Beyer noted much of the project is MNDOT controlled and their responsibility. Commissioner Wagner stated she shared some ideas with Mr. Portner and felt there should be some funds for this project but noted a plan isn't established yet to be able to determine a budget. She stated there should be a coalition of businesses and partners involved. She asked Sherburne County to participate but they didn't have the interest. Mr. Portner stated the authority could amend this later through the fund balance versus adding to the levy. Consensus of the commission the proposed budget is acceptable. 3. Adjournment There being no further business, President Tveite adjourned the meeting of the Elk River Economic Development Authority at 5:09 p.m. Dan Tveite, EDA President Tina Allard, City Clerk P011RER I NATUREI