5.2. EDSR 12-13-2004 Item # 5.2.
• . BOIA,
City1kz
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River
MEMORANDUM
TO: Economic Development Authority
FROM: Heidi Steinmetz, Assistant Director of Economic Development
DATE: December 13, 2004
SUBJECT: Timetable for Economic Development Strategic Plan
Attachments
• 2004-2007 Economic Development Strategic Plan
• Implementation Timetable
Background
The following activities have occurred in the development of the 2004-2007 Strategic Plan:
Year 2004 Action
March First Strategic Planning Session: group reviewed past
plans,progress, and conducted SWOT Analysis
May Second Strategic Planning Session: group identified 4
priority issues and developed strategies for priority
issues: Industrial Development and CBD
July EDA provided input on strategies for priority issues:
Transportation& Commercial Development
October EDA Adopted Plan
November HRA Adopted Plan
December City Council Adopted Plan
Issue
Staff has prepared the attached timetable for the implementation of the 2004-2007
Economic Development Strategic Plan.
Staff Request
Staff requests the EDA's input regarding the timetable.
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. Identifies priority areas for EDA, HRA,City
2004-2007 .Council and and staff resources.
Economic Development '`Original Strategic Plan-May 1997
Strategic Plan :Modified—November 1999
2004 Update—included EDA Subcommittees:
' Finance, Marketing and Incubator Advisory
EDA Adopted: October 11,2004
HRA Adopted: November',1,2004 =Facilitator--Jim Brimeyer,The Brimeyer'Group
' City Council Adopted:December 6,2004
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to actively participate in economic development byp
Industrial Development
utilizin available resources to leverage viable
g 9 ➢Attract new businesses and expand existing
and healthy in our community. Such
investments businesses to increase the city's industrial tax
investments will create diverse job opportunities' base•
as a result of a stable and growing business and &;Central Business District
industrial base. We will strive to provide quality'
•services, maintain a favorable tax rate,supply )Undertake planning and activities that
full-cycle housing options for our residents,and facilitate redevelopment in the Central
foster an environment that Will result in Business District.
substantial growth of our local economy.
•ice ® .. ''.,, < a,, t -'6'i t.,;, ',&.„.1...a. 1 06. ...,,,:.. �..
ner
' Transportation
Make available several location options for industries:
>Advocate and support proactive planning for OObta n joint development agreements for Elk Path
improvements to the local and area Business Center and Elk'River Business Park
transportation system. OConsider options to reduce landowner cost of
P y development
Commercial Development ODevelop a"price point"policy
>Encourage desired commercial development ❑Consider making current City/EDA-owned land
in identified areas. available(Brown,Cargill)
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Complete initial phase of roads and utilities in all Develop unique and more generous business incentive
parks ,:programs.
_. Consider a program to purchase portions of private Enhance,and promote TIF,Tax Rebate Financing and
❑
parks over time—with options to purchase additional '' Micro Loan programs.
land Maintain consistent marketing image as'The Light
' CIConsider unique attributes/vision for each park Industrial Hub of the Northwest Metro",materials and
%' (e.g."Elk River Energy City Industrial Park",Northstar Corridor) methods.
Maintain and build networks with banks,brokers,
chamber,existing'businesses,media and others.
.Maintain'annual Business Retention&Expansion visits
with participation from elected/appointed officials and
Chamber,promote expansion incentive programs.
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ger (CBD) �r
Maintain prospect/inquirytracking and distribute semi- Complete long range master plan for guiding vision of
annual results to the EDA and Planning Commission
the CBD;break down activities into'"manageable
Utilize DEED's Manufacturing Week to showcase existing .chunks"
.,f+rms• Ac
Identify prioritylredevelopment areas.
Utilize GIS to manage data of industrial real estate Develop'list of"preferred"uses,including:
Maintain inventory of available industrial land/buildings' ❑Office
Maintain participation with the EnergyCrtyprogram
❑Mixed use
Maintain commitment to the Business Incubator Program ❑Residential
❑Identify developer and location for"next generation" USpecialty retail
incubator building i:`❑Restaurant/bars
❑Explore continued program funding options
€ r
r CBD Wet- ver-
,
Undertake a local proactive advocacy,role to generate
'' Consider incentive programs,in addition to Micro Loan, improvements:
;.for commercial building rehabilitation ❑Consider connections,service roads within
a;Design connections(to river,businesses,Lions Park, developments
schools,etc.) ❑Limit development by land use(interim uses to
preserve corridors)
❑Make necessary improvements to existing roads
❑Consider alternative routes for east/west connections
(partner regionally)
❑Object to any,Hwy 10 bypass of Elk River
• ❑Encourage service drives along new commercial areas
(e..g.East Hwy 10)
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verDevelopment `
Consider transportation improvements in areas with
redevelopment/development opportunities Consider focus area study of the gravel mining area to
Consider transportation connections/traffic flow for Identify commercial sites.
• problem areas(e.g.Elk River Concrete and Contour Mold �d Identify areas for redevelopment and determine priorities.
area) a Designate large area for"shopping mall"or clustering of
Accessibility for businesses along Highways 10 and 169 ,retail that is pedestrian friendly and integrated'
Support the City's Transportation Plan;support the Utilize the Chamber of Commerce for marketing
Planning Dept and Engineering staff in the Plan's availability of commercial areas(land and building space).
implementation.
sem"
Development "4`
Explore/consider neighborhood commercial
(the"corner store).
"Explore incentives to lure desired businesses to locate in
• ° areas that the market is not interested in at this time
,(e.g.Hwy 10).
Consider development of commercial areas identified in
the Comprehensive Plan
QCo Rd 33 and``,Hwy 169
OEast Highway 10
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