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b. Lead Party: Public Services Department <br />Key Contributors: Finance Department <br />Springsted Inc. <br />City Council <br />c. Funding Sources: Up to $10,000 for consultant fees to develop <br />financing options <br />5. Diversify, expand, and enhance the City's tax base <br />A. Calendar Year 2007 <br />(1) Objective: Analyze where economic development opportunities exist <br />within the City for expansion of the City's tax base. <br />a. Key Action Steps: <br />i. Identify opportunities as part of Comprehensive Plan Update <br />Process <br />b. Lead party: Community Development Staff <br />Key Contributors: Comprehensive Plan Advisory Panel <br />EDAC <br />c. Funding Source: General Fund. Primarily Staff Time <br />B. Calendar Year 2008 <br />(1) Objective: Develop Marketing Plan <br />a. Key Action Steps: <br />i. Complete market study based on identified available <br />commercial /industrial land uses <br />ii. Develop effective marketing materials based on results of the <br />market potential in Lino Lakes <br />b. Lead party: Community Development Staff <br />Key Contributors: EDAC <br />City Council <br />c. Funding Source: General Fund. Will need to provide funding <br />for Marketing Consultant <br />(2) Objective: Align economic development and marketing strategy to the <br />Comp Plan <br />a. Key Action Steps: <br />i. Identify opportunities for expansion of commercial and <br />industrial tax base (see Objective 1) <br />ii. Review and update EDAC economic development goals and <br />strategies to ensure it reflects: <br />• 2030 Community Vision <br />6 <br />