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DRAFT <br />CITY OF LINO LAKES <br />FIVE YEAR ECONOMIC DEVELOPMENT PLAN <br />A. BACKGROUND <br />In 1992 the City of Lino Lakes adopted an Economic Development Plan and established <br />the Economic Development Authority Advisory Board (EDAAB). Its mission was to 1) <br />actively promote the development of quality commercial, retail and light industrial <br />businesses within the City of Lino Lakes, and 2) maintain and encourage the growth of <br />existing businesses within the City of Lino Lakes. In 1994 the city expanded EDAAB to <br />provide broader community participation. In 1998 EDAAB changed its name to the <br />Economic Development Advisory Committee (EDAC) to reflect its status as a volunteer <br />advisory group rather than an official board required by state statute, but its mission <br />remains the same. <br />EDAC established 10 goals within the original economic development plan, and each year <br />has updated its goals within its one -year action plan. To date, the five years of action plans <br />have resulted in the location of 32 businesses in the 22 building projects with an additional <br />market value of approximately $28 million. <br />This five -year strategic economic development plan revisits and revises those original <br />goals to reflect the efforts accomplished since 1992, changing needs of the community and <br />new development options. <br />B. INVENTORY <br />Lino Lakes is a city covering an area of approximately 33 square miles located in the <br />northeast part of the Tvvin Cities metropolitan area. A high amenity community, the current <br />population of Lino Lakes is approximately 15,500. <br />In the central part of the city, the Rice Creek Chain -of -Lakes Regional Park preserves <br />2,550 acres of lakes, shore land, and rolling topography in an unique natural environment. <br />In addition, there are 13 lakes and extensive areas of wetlands. The lakes, wooded area, <br />and parks will preserve natural habitat as population growth continues. There will be a <br />feeling of a rural community in Lino Lakes even though the city's population is expected to <br />reach 20,500 by the year 2020. <br />1 <br />