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8Lino Lakes Economic Development Strategic Plan <br />PRIORITY 1: <br />Develop Balance of Woods Edge Property <br />The site is located at Interstate 35W and Lake Drive. The City retains approximately 9 acres of property. The area is <br />guided and zoned for a mix of commercial and high-density residential uses intended to serve as the City’s “Town <br />Center”. The transition of the YMCA to a City facility provides an opportunity to revisit the vision for the area and create <br />an identity for future development. <br />Priorities <br />Using those goals as a template, the EDAC has developed the following list of priorities to <br />focus on for the implementation of the goals from the comprehensive plan. <br />PRIORITY 2: <br />Business Retention and Expansion Program <br />Retention and expansion of key businesses is an important strategy in promoting continued economic growth. It is <br />an avenue by which communities promote reinvestment and facilitate employment growth. By establishing a formal <br />Business Retention and Expansion (BRE) Program, Lino Lakes can enhance its relationship with key existing businesses. <br />The BRE is an avenue to gather information about local business activity, anticipate changes in a company’s status, and <br />work to retain the businesses that provide the greatest positive economic impact. <br />EDAC identified business retention as a high priority for the City’s economic development efforts. <br />EDAC recognizes that the private market will prescribe <br />the ultimate development scenario; however, there <br />are key elements which are within the City’s sphere <br />of influence. Lino Lakes ability to be flexible both on <br />land sale pricing and type of development, plus the <br />potential to assist with financing gaps will ultimately <br />assist in the facilitation of a development plan that <br />meets the city’s goals. <br />PRIORITY 3: <br />Workforce Development Plan <br />Access to labor pools and a skilled workforce is critical to retention of existing businesses and facilitating new <br />opportunities. Linking local businesses with workforce development resources is an important role for City <br />Economic Development efforts.