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Economic Development Authority (EDA) 4. 1. <br />Meeting Date: 03/07/2013 <br />Submitted For: Patrick Brama By: Patrick Brama, Administrative Services <br />Title: <br />UPDATES <br />Background: <br />Updates, Multiple: <br />1. Annual EDA Business Expo <br />2. 15153 Nowthen Boulevard <br />3. 8020 147th Ave NW <br />4. Annual Business Appreciation Golf Tournament <br />5. Business Retention and Expansion Program <br />6. Prospect Update <br />7. 167th and 47 <br />8. Boards and Commissions Interviews <br />9. Economic Development Manager Recruitment <br />Observations: <br />(1) Annual EDA Business Expo <br />Below is a status update on a number of items related to this event: <br />• Venue: Fountains of Ramsey, Secured ($350) <br />• Event Flyer: Created, see attached <br />• Marketing: <br />o Mailers, 9,000qty, color half page ($2,300), 2 -3 weeks before event <br />o Mobile Sign Boards, Five ($750) <br />o Ramsey Elementary, Color Full Page, 1,800qty, ($350) <br />o PACT Charter, Color Full Page, 1,800qty, ($350) <br />o Ramsey Resident, Facebook, Dynamic Display (free) <br />• Exhibitor Registration Form: Created, see attached <br />o Past participating exhibitors have been contacted <br />o Staff personally contacted 50 businesses <br />o About 25 exhibitors have registered <br />Budget for this event is $3,500. Considering items above, expenditures will be $4,100. Staff estimates revenues <br />will be $1,350. The difference between estimated costs and revenues would be $2,750 ($3,500 budgeted). <br />Therefore, the EDA would have an estimated $750 balance. <br />(2) 15153 Nowthen Boulevard, Old Municipal Center <br />The EDA and City Council have expressed interest in developing the old municipal center site, 15153 Nowthen <br />Boulevard for a data center user(s). The City is partnering with Connexus Energy to pursue this development <br />opportunity. <br />As part of this effort, Staff was directed to pursue a "Shovel Ready" development certification through the State of <br />Minnesota. Additionally, both the EDA and the City Council have requested Staff develop a cost/benefit analysis <br />on potential development scenarios. <br />In February, the EDA reviewed said cost/benefit analysis and directed Staff to move forward with positioning the <br />