Laserfiche WebLink
EDC Minutes <br /> December 4, 2013 <br /> Page 2 of 5 <br /> • Developing an inventory and contact list for leased commercial property <br /> • Completing an initial analysis of vacancy rates for retail, office, and industrial properties <br /> in Arden Hills compared to the metropolitan and northeast submarket averages. <br /> B. 2014 Work Plan <br /> Chair von Holtum reviewed the 2014 Work Plan. The goals for the year include new member <br /> recruitment, providing further guidance on the revolving loan fund program, conducting <br /> background research for the development of a Business Retention and Expansion (BRE) <br /> program, and continuing marketing and outreach efforts. <br /> Chair von Holtum noted that an application has been received from an individual interested.in <br /> becoming a member of the EDC. He added that he knew of one other individual who had <br /> expressed an interest in joining the EDC. <br /> Chair von Holtum commented that additional feedback would be needed from the City Council <br /> before the EDC could provide further direction on the revolving loan fund program. <br /> Commissioner Huninghake recommended that staff contact other local cities that manage <br /> similar programs. He added that revolving loan programs require a significant amount of staff <br /> time and that for them to be successful, cities need to look for projects that meet their economic <br /> development goals. <br /> Community Development Director Hutmacher noted that developing a BRE program would <br /> require a significant amount of work. She explained that the extent to which the EDC would be <br /> able to work on the program in 2014 would depend in part on staffing in the 2014 City budget. <br /> Community Development Director Hutmacher suggested that the main focus of the EDC <br /> work on the BRE program in 2014 could be exploratory. This would include researching the <br /> typical components of these types of programs and contacting cities with similar initiatives. She <br /> noted that a decision could be made by the EDA at the end of 2014 on whether to move forward <br /> with establishing a BRE program in 2015. <br /> Community Development Director Hutmacher provided an overview of the planned <br /> marketing and outreach initiatives for 2014. These included planning the State of the City event, <br /> conducting outreach to Round Lake District businesses regarding the public improvement <br /> project, posting updates to the website on business and development news, and updating leased. <br /> commercial property inventories. <br /> Commissioner Erickson questioned how the City was able to identify new businesses that have <br /> moved to Arden Hills. <br /> Community Development Director Hutmacher stated that this is done by consulting with the <br /> City Building Official who reviews applications for building and electrical permits from new <br />