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B. Calendar Year 2008 <br />(1) Objective: Consider potential development of recreation complex <br />a. Key Action Steps: <br />i. Develop alternative financing plans necessary to complete <br />recommended phasing efforts <br />ii. City Council determines whether to proceed with phasing plan. <br />If so, City Council identifies preferred financing plan, and sets <br />timeline for Phase I improvements <br />iii. City staff analyzes /determines whether any modifications to <br />master plan are warranted <br />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 />STATUS: In progress as part of Comp Plan update, Market analysis was prepared for <br />background information Appropriate areas will be identified for commercial, industrial and <br />residential uses <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 />6 <br />