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group process. He advised that staff believes that any noise issue can be mitigated with proper regulations and measures taken up front, adding that the majority of the study group members feel that noise issues can be mitigated. Economic Development Manager LaFrance advised that staff recently met with The Residence at The COR apartments and learned that 77 units are occupied, there are 85 signed leases, they have 34% occupancy of their 230 units, and the average unit is 872 square feet with average rent of $1,140. He reported that Prospect Alpha will be presenting their proposal to the Planning Commission in the near future. He discussed the Business Retention & Expansion Program and advised there are a number of resources available through Greater MSP' s business retention and expansion manager; in addition, Greater MSP utilizes a database system that the City can use free of charge that contains specific local and regional information. Member LeTourneau requested further information about Greater MSP and stated he would like to further understand the value offered by Greater MSP. Economic Development Manager LaFrance suggested that Greater MSP be requested to give a presentation to the EDA and provide information on their business retention and expansion program to make sure that Greater MSP's objectives are aligned with the EDA's objectives. City Administrator Ulrich stated the City belongs to Greater MSP through Anoka County and Anoka County pays the membership fee. He explained that when a company is looking for a site, Greater MSP can send an email to its members indicating that company "X" is looking for a site and listing the criteria needed and members can submit a proposal to the company so it has the advantage of putting the City into a pool for companies that are looking for sites. Member LeTourneau stated it was his understanding that Anoka County feels that this part of the metro is not being recognized enough and that the City /County need Greater MSP to make this happen, but he has heard that it is not working and the RFQs are not getting answered or replied to, which seems to indicate there is limited value to the Greater MSP relationship and he would like the EDA to decide if the relationship with Greater MSP is worth it or not. City Administrator Ulrich indicated that part of the response time and the ability of cities to respond is based on staffing and it is sometimes difficult to respond within two days, adding this might be a topic to discuss with the County. Assistant to the City Administrator Brama stated that he has responded to a lot of inquiries but the City has a limited inventory of existing buildings as well as limited raw land available, adding he felt that the new Business Park was key to keeping the City competitive. It was the consensus of the EDA to request that Greater MSP give a presentation to the EDA in the near future. Chairperson Steffen stated that the EDA members are willing to go on business visits and requested that staff circulate the list to the EDA prior to reaching out to businesses so that EDA members can identify which meetings they would like to attend. Economic Development Authority /December 19, 2013 Page 4 of 5