7.4. EDSR 08-17-2020 City of
Elk �-- Request for Action
River
To Item Number
Economic Development Authori 7.4
Agenda Section Meeting Date Prepared by
General Business August 17, 2020 Colleen Eddy, Economic Development Specialist
Item Description Reviewed by
Strategic Plan Update Amanda Othoudt,ED Director
Reviewed by
Cal Portner, City Administrator
Action Requested
Receive an update on the Strategic Plan.
Background/Discussion
The EDA Strategic Plan is progressing along the proposed timeline. Staff conducted a site tour with Stantec on
June 11,participated in three Stantec-facilitated focus groups on June 24, and met with Stantec's Project
Leader,Tom Leighton, on August 7 to discuss peer city benchmarking,which is part of Task 2 Economic
Development Analysis. The peer city benchmarking will elicit information on the economic development
budgets and programmatic activities and perspectives of the peer cities related to the various topics in the
strategic plan. The peer identified cities are Forest Lake, Chaska, Oakdale, and if we need a fourth, Hastings.
Stantec will conduct structured interviews with peer city economic development staff or their EDAs and ask
the following questions:
• What are their programmatic focus areas?
• Which activities and programs do they feel function particularly well, and why?
• How do they monitor progress?
• What do they see as potential opportunities for new activities?
• Can you tell us about your current activities and thoughts relative to our eight economic
development topical areas?
Financial Impact
N/A
Mission/Policy/Goal
The Strategic Plan will build upon the EDA's existing plans including the city's vision,Mississippi Connections
Plan, FAST Study, Comprehensive Plan, Parks and Recreation Plan, Capital Improvement Plan, along with any
other relevant studies that have set forth goals and objectives for economic growth and sustainability.
Attachments
■ Strategic Plan Project Update
The Elk River Vision
A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r
service, and community engagement that encourages and inspires prosperity ,g /` UR
(3 Stantec Project Update
Project Update to EDA,August 17,2020
Elk River EDA Strategic Plan/193805023
Peer City Research
We are in the process of scheduling meetings with community development staff in Forest Lake, Chaska and
Oakdale for the peer city benchmarking research. City staff will participate in those conversations. The
following are the draft interview questions.
Understanding the City
What are the strengths and weaknesses of[City] from an economic development perspective? (geographic
and non-geographic assets)
What are the economic drivers?
What are the development trends?
What factors have most shaped the economic environment?
Understanding the Organization
What is the organizational structure for the city's economic development function?
What is the emphasis of the lead organization(s)?
What have been your most important organizational accomplishments?
What is your portfolio of programs and activity (by staff time, by budget)?
What financial resources does the organization utilize to fund its programs and activities?
What are the organization's key partnership relationships?
Economic Development Practices
What are your practices in the following area? How do you pursue these goals strategically? How do you
align staff time and resources around them?
• Business retention and expansion practices
• Attracting new business development through 1) target industries, 2) land availability practices to
support new industrial development. (Do they incentivize a certain target industry? "I want them to
understand if they want something they have to pony up." Describe incentive programs)
• Redevelopment practices (including incentives)
• Fostering tourism
• Promoting the City for new business/industrial development (including target industries)
• Supporting vibrancy of downtown business district
• Sports hub. What do you think about promoting a city as a sports hub?
• Do you compete for workforce, businesses with another City? How do you handle that competition?
What programs or activities do you think your City has done particular well? Why?
What programs or activities do you think are in need of improvement? Why?
Elk River
Knowing what you do about Elk River, what economic development strategies or emphases would you
suggest they explore?
Calendar
EDA Meeting, Monday, September 21. Report out to the EDA on all economic development research,
including peer city research. Follow-up conversation about Highway 169 Redefine.
jjgarl0Dpaditents\community development\economic development\eda\administrative\agenda\eda agenda packets\2020\08-17-2020\7.4 at1 strategic plan
project update.docx
July 20,2020
Project Update to EDA,August 17,2020
Page 2 of 2
Early to mid-October. Public meeting. Communicate to the public about the EDA Strategic Plan.
Mid-to late-October. 2nd EDA Workshop—Prioritization Workshop. At the Prioritization Workshop we'll
present a menu of potential strategies that could be included in the EDA Strategic Plan, and have a structured
process for thinking through which strategies are a priority for the EDA.
jjg Odepartments\community development\economic development\eda\administrative\agenda\eda agenda packets\2020\08-17-2020\7.4 at1 strategic plan
project update.docx