08/28/2000 Council Packet - Laserfiche WebLink

Home Search

AGENDA ITEM 7L STAFF ORIGINATOR: Mary Alice Divine DATE: TOPIC: 8/28/00 Economic Development Advisory Committee economic development plan Vote required: Simple majority BACKGROUND: The Economic Development Advisory Committee (EDAC), has as its directive to help the city council encourage growth of new and existing business. EDAC has revisited its original long range economic development plan that was completed five years ago. The committee examined what was still relevant and what needed to be updated and redirected to ensure that the plan continued to support the goals of the city. The five -year plan is intended to be a guide for economic development that acknowledges that some goals and priorities will change over time. The plan is accompanied by an action plan that EDAC updates annually. Some of the major goals and objectives from the plan, designed to minimize the residential tax burden by raising the commercial /industrial tax base, include: • Higher priority given to commercial development of the Town Center and its relationship to residential growth; recommending the city consider itself an active participant in the development of the Town Center and invest in a higher standard of development that will ultimately bring higher values and increased tax base. • Identifying new opportunities within the draft Comprehensive Plan for commercial /industrial growth • Prioritizing economic development efforts to ensure that the city's commitment to infrastructure, staff time and incentives produces the highest possible results • Revisiting zoning ordinances to reflect the changing quality of commercial and industrial development in the City • Establishing a long range improvement plan to redevelop blighted or substandard areas As a part of implementing this plan, EDAC recently voted to endorse the Town Center standards with the understanding that the city council may revise specific