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Lead Party: Public Services Department. <br />5. Goal: Diversify, Expand, and Enhance the City's Tax Base. <br />a. Specific Performance Objectives to be completed during <br />the remainder of Calendar Year 2008: <br />(1) Objective: Based upon the outcomes presented in <br />an approved Updated Comprehensive Plan, develop <br />specific city council guidance for economic <br />development in support of the Comp Plan; i.e., what <br />does city council want to achieve with regards to <br />economic development, how does it propose that <br />the city proceed and who should be involved? <br />(2) Objective: Based upon the outcome of Objective 1, <br />determine the role city council wishes for the <br />Economic Development Advisory Commission <br />(EDAC). <br />Lead Party: Community Development Staff <br />with key guidance provided by <br />City Council at a work <br />session /work sessions to be <br />scheduled. <br />b. Specific Performance Objectives for Calendar Year 2009: <br />(1) Objective: Continue with developing city council <br />guidance on the Economic Development Plan that <br />will be established in support of the adopted <br />Comprehensive Plan. <br />Note: Michael seeks a definite Economic Development <br />Plan and definition of the parameters in which he can <br />operate in response to economic development <br />opportunities /inquiries brought forth by developers and <br />businesses. <br />6. Goal: Establish an appropriate revenue generation and <br />allocation policy for the City. <br />a. Specific Performance Objectives to be completed during <br />the remainder of Calendar Year 2008: <br />