12-21-05 - Laserfiche WebLink

Home Browse Search

■ In 2003 had 2 new single family homes, 2 new homes in 2002 and 1 new homes in 2001. ■ Three (3) twinhomes were built in 2002. Princeton Industrial Land Inventory ■ Three (3) acres available one block off Highway 169 ■ Opening 40 to 80 acres west of the airport in 3 to 4 years. ■ Sale Price is unknown ■ Incentives include TIF and tax abatement. Housing Inventory ■ In 2003 had 41 new single family homes, 59 new homes in 2002 and 56 new homes in 2001. ■ There are 22 developable lots available for twinhomes. Need wastewater expansion to accommodate additional growth. ■ Multi-family units built include 41 townhomes in 2003, 2 unit condo in 2002 and 39 rental units in 2001. Conclusions Milaca has a geographic advantage over all the cities except Elk River and Princeton. However, compared to Elk River, Milaca has a more economical land price and the JOBZ designation for industrial growth. These factors provide a competitive advantage to Milaca for business attraction. Related to housing, Elk River has sufficient supply and is meeting the demand for mid-level housing. For the first-time home buyer, Milaca is more affordable. Princeton is closer to both St Cloud and the Twin Cities. Milaca, nonetheless, has property available for new industry, while Princeton is three to four years away from having property to market. Housing in Princeton is closer to the Twin Cities,but Milaca can provide a better value for the commute. The other communities evaluated do not pose a threat to industrial or business growth. Milaca can compete head-to-head with Cambridge and in most instances win because of Highway 169. The smaller communities will not weigh into the decision due to their size and locations. III. ECONOMIC DEVELOPMENT ORGANIZATION ASSESSMENT • The Economic Development Commission has played an advisory role for planning, managing and implementing the economic development activities for the city of Milaca. Barsness Consulting Services Page 8 12/8/2005