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9Lino Lakes Economic Development Strategic Plan <br />PRIORITY 4: <br />Identification of potential redevelopment areas and strategic acquisitions <br />Reinvesting in underutilized property is a valuable tool for City economic development efforts. The City should also be <br />ready to act when property becomes available to meet long term development and infrastructure needs. <br />2 <br />PRIORITY 5: <br />Continue to promote development of the I-35E/Main Street Corridor <br />PRIORITY 6: <br />Updating and Expanding the City Marketing Materials <br />The development and updating of the marketing materials for the community to be able to readily react to <br />opportunities for new projects and the expansion of existing businesses. <br />The development and adoption of a strategic plan requires that the EDAC also develop and implement a process for <br />completing the priorities and the regular review of those priorities to adjust as required by the economic environment <br />and conditions. This allows for the EDAC to be successful in their goals for the continued development and growth of <br />the community. <br />The development of this process and tracking system is most easily completed by the creation of a matrix with the <br />goals listed and the steps for the completion of those goals listed and assigned. This allows for the EDAC to readily <br />track their progress and what changes need to be made based on economic conditions. <br />In addition to allowing the EDAC to track their progress, it also allows for the EDAC to show progress and communicate <br />successes for the community. <br />Development in this area will be predominantly <br />market driven. The construction of the Watermark <br />housing development creates additional commercial <br />opportunities. Industrial development interest is <br />increasing but will be dependent on the availability <br />of public infrastructure to serve the sites and active <br />landowner participation. Infrastructure improvements <br />and “readiness” will be a driving factor in attracting new <br />development. The City’s partnership with the Minnesota <br />Technology Corridor provides regional exposure to the <br />locational benefits of the area.