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EDC Minutes <br />December 4, 2013 <br />Page 2 of 5 <br /> <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 /> <br /> <br />B. 2014 Work Plan <br /> <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 /> <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 /> <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 /> <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 /> <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 /> <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 /> <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 /> <br />Commissioner Erickson questioned how the City was able to identify new businesses that have <br />moved to Arden Hills. <br /> <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