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3 <br /> <br />1. Use of Financing Tools <br />The Authority may wish to clarify under what circumstances it is comfortable deploying financial tools <br />such as Tax Increment Financing or LAHA funds. This includes identifying the type of public return <br />that should be expected when such tools are used and establishing consistent evaluation criteria. Clear <br />parameters can help ensure predictability, transparency, and avoid ad hoc decision-making. <br /> <br />Staff have learned that Ehlers and Bolton & Menk have collaborated in other communities to develop <br />formal TIF policy frameworks that provide structured review standards. If desired, a similar <br />framework could be developed for Little Canada to guide future decision-making. <br /> <br />2. Property Strategy <br />The EDA may also want to consider its desired posture toward property ownership and acquisition. <br />Should the Authority proactively acquire sites, pursue first-right-of-refusal opportunities, or assemble <br />land to influence redevelopment outcomes? Alternatively, should redevelopment remain largely <br />market-driven unless a clearly articulated public purpose justifies city intervention? <br /> <br />In addition, the EDA has already expressed interest in evaluating the long-term management and <br />disposition strategy for properties currently under EDA or City control. That discussion is scheduled to <br />begin at the March 12 meeting and will help clarify the Authority’s role moving forward. <br /> <br />3. Direct Subsidy vs. Public Realm Investment <br />Another policy consideration is whether limited EDA resources should be directed toward private-site <br />improvements, such as façade grants, business assistance programs, or targeted reinvestment <br />incentives, or whether funds should prioritize infrastructure and public realm improvements that <br />indirectly support private investment within defined areas or corridors of the city. <br /> <br />Clarifying the EDA’s preferred balance will shape both budget allocation and the Authority’s overall <br />posture. It determines whether the EDA operates primarily through project-by-project transactions with <br />individual property owners, or through broader, place-based investments intended to strengthen entire <br />corridors or districts over time. <br /> <br />4. Business Community Engagement <br />The Authority may also wish to define its approach to business outreach. For a city of Little Canada’s <br />size and staff capacity, what level of engagement is appropriate? Should outreach be formalized <br />through periodic business summits or structured programming, or remain informal and relationship- <br />based? A defined approach can help ensure that time invested in outreach aligns with strategic <br />objectives. <br /> <br />As a relevant aside, the city-wide business visit initiative has been paused since the beginning of the <br />year due to the heightened presence of federal government officials in the area. Staff felt that <br />conducting door-to-door outreach during this period risked creating confusion or unintended <br />associations with federal enforcement activity. Staff anticipate resuming visits in the coming weeks, <br />with the remaining businesses primarily located in industrial areas.