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EI)A BUSINESS <br /> <br />Case #1: 2005 Workplan <br /> <br />k;cono~nic Development/TIF Specialist Sullivan reviewed that at the last EDA meeting, staff and <br />the EDA discussed a 2005 workplan. Subsequent to the meeting, staff attempted to further <br />organize the outline and to add upon ideas established by the EDA. In the process of working <br />through the draft workplan outline, it became apparent that there were a few areas that staff <br />needed to obtain further direction from the EDA. These areas include: <br /> <br />Development/Redevelopment <br /> · Continuing to be more active in discussions and projects related to transportation <br />· Creation of another Business Park(s) / Small Lot Development <br /> o Economic Development/TIF Specialist Sullivan indicated he received a call from <br /> a small business owner that currently leases wondering if there is a plan for any <br /> industrial parks with smaller lot development. The Small business owner <br /> expressed concern about the City purchasing so many small metal buildings and <br /> raising the price of land in general. <br /> <br />2. Marketing <br /> · Continue to work on City Name recognition <br /> <br />I~;conmnic Development/TIF Specialist Sullivan indicated staff would like any additional <br />direction Ii'om the EDA regarding the workplan, and would like the EDA to adopt the workplan. <br /> <br />Member Kicfer stated he would like to see the EDA look into additional creative methods of <br />attracting businesses and getting start up businesses going, such as through an incubator type of <br />thcility. If the City had some affordable property for lease or sale for a start up business they <br />might find more businesses locating here. If the environment is business friendly the businesses <br />would continue to stay in the City as they expand. Member Gromberg concurred. He indicated <br />thc EDA would need to look at how they handle the lots they purchase. It would need to be <br />determined if they would want to start doing things such as issuing lease revenue bonds to build <br />a building and leasing it back to start up businesses at a break even cost. <br /> <br />Economic Dcvelopment/TIF Specialist Sullivan indicated there are private owners in the City <br />that lease space out in multi-tenant buildings. The question is if the EDA wants to get into direct <br />competition with these property owners. <br /> <br />Member Kiefer commented on the success Coon Rapids has had in starting an incubator facility <br />lbr start up medical businesses. IfRamsey were to do something like that they would be <br />targeting a specific market. <br /> <br />Member Elvig expressed concern with focusing on start up business. He questioned if the EDA <br />would look at business plans and capital background. He indicated the City Council has been <br />lbcusing on changing some of the ordinances. There is a home occupation ordinance that allows <br /> <br />Economic Development Authority/April 13, 2005 <br /> Page 2 of 7 <br /> <br /> <br />