Agenda - Economic Development Authority - 04/02/2015

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Economic Development Authority (EDA) Meeting Date: 04/02/2015 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services Title: Staff Updates 5. 1. Purpose/Background: Joint City Council - EDA Meeting The City Council and EDA will have a joint -meeting on Tuesday, April 14, 5:30 p.m., in the Lake Itasca Room. The agenda includes: (1) EDA workplan update by staff, (2) CBRE update by Brian Pankratz, (3) Shovel Ready Program Introduction by DEED representative Jim Gromberg. Skeeter Boat Company Considering Elk River Location Skeeter Boat Company (link), currently located at 9421 US Highway 10, on the western edge of Ramsey, is considering an opportunity to relocate their operation to Elk River. This opportunity is outlined in a recent StarTribune article (link). Staff connected with Skeeter's management team to better understand the situation. Skeeter has indicated the opportunity in Elk River is a unique and rare situation in which they can pick up a nice existing building/ property at a very low cost. Skeeter's Ramsey location is not "ideal" for Skeeter's long-term needs. Skeeter has indicated the City of Ramsey has done nothing wrong to cause Skeeter to consider Elk River—and that Ramsey has been great to work with. Staff has offered to work with Skeeter Boat Center to identify opportunities in Ramsey. Skeeter Boat Center appreciated the offer/follow-up and stated they will connect with Ramsey after the opportunity at -hand is vetted. Economic Development Prospect "Power" A significant manufacturing and assembly prospect from Elk River has identified the new Ramsey business park (link) as a potential location for a 105,000 square foot facility. This project would create 190 jobs in Ramsey (which would rank #4 in terms of employment in our community). This prospect has indicated Otsego and Ramsey are the final two cities they are considering. They would like to begin construction no later than August 1, 2015. They would like to complete their project by spring 2016. It is anticipated, this prospect will make a site location decision in the next three weeks. Recruiting this business to Ramsey would include use of State and City incentives. Discussions and negotiations with this prospect have been positive to -date; and have remained within the City's adopted "business subsidy policy." Staff has a meeting scheduled with this prospect for Monday, March 30; which will include: Councilmember LeTourneau, EDA Chair Steffen, Economic Development Consultant Mulrooney, MN DEED representative Gromberg and staff. If this project does move forward, it will require several processes, reviews and policy discussions to occur in an "efficient" timeframe. In that event, staff will provide additional details on the prospect/ project, details on requested incentives, project schedule, etc. RALF and Armstrong City Owned Properties