Agenda - Council - 11/27/2018 - Laserfiche WebLink

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Economic Development Authority (EDA) Meeting Date: 10/11/2018 Submitted For: Sean Sullivan, Community Development By: Monika Maxey, Community Development Title: Presentation: Anoka County Regional Economic Development Partnership 4. 1. Purpose/Background: Through this case, the EDA will receive an update on this new partnership by Jacquel Hajder, Anoka County Economic Development Specialist. Anoka County Regional Economic Development Partnership - Anoka County along with its 21 communities, Connexus Energy and Metro North Chamber of Commerce have identified the need for a regional economic development focus. A research study was completed by a Consultant, Ady Advantage, in December 2017 ("the Study") for a market research analysis and evaluation of business opportunities, targets, and strategies for economic development within Anoka County. After a year of research, Ady provided a 200+page report with many goals and action steps to help the region grow to its full economic potential. The County hired an Economic Development Specialist (Jacquel Hajder) in July to tackle these goals and help many of the municipalities with their economic development needs/strategies. There are three overall goals that are leading much of the work the Economic Development Specialist will be focusing on regionally. Those three goals are to change the perception of Anoka County, clearly define roles among regional partners and ensure the County is ready for development from a talent and product (sites and buildings) perspective. An example on how to ensure the County is ready from a talent and product standpoint, is completing an assessment of the available buildings, and advertising those key development sites to key real estate individuals and business owners. This information will be hosted on the Regional Economic Development website. That way when investors and businesses are looking at the region, they have one site to find properties available, community information, talent and financial resources that are available in the region. A Memorandum of Understanding (MOU) has been created to set a framework for participating entities, to further the goals of the economic development collaboration by: (a) outlining general objectives, (b) defining mutual responsibilities, and (c) setting goals, timelines, communication, and other details necessary to achieve the desired outcomes. Notification: Observations/Alternatives: To accomplish many of the regional marketing goals, a $20,000 budget was recommended by Ady Advantage. Because the work that will be done regionally will benefit all the 21 municipalities, it is important there is an opportunity to cost share and control how the funds are being used. The cost sharing will be based off the population size of a community, at $0.057 per person of population. For the City of Ramsey, the 2019 voluntary financial contribution would be $1,506 which could be funded through the Ramsey Housing and Redevelopment Authority fund held at Anoka County. The budget will be approved by all communities annually before a new voluntary cost sharing agreement (VCSA) can go in effect. The communities vote on their financial contributions and the Committees/Subcommittees advise on tasks throughout the year the budget items are directed too. The City Attorney is in the process of reviwing the MOU and VSCA. Funding Source: