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c. Funding Source: General Fund — CD and Economic <br />Development (Staff Time) <br />b. Specific Performance Objectives for Calendar Year 2009 <br />(1) Objective: Continue with developing city council guidance on the <br />Economic Development Plan that will be established in support of <br />the adopted Comprehensive Plan (Ongoing) <br />a. Key Action Steps: <br />i. Complete any work remaining from 2008, prepare any <br />needed refinements or updates to economic <br />development strategy <br />ii. Re- evaluate EDAC 5 -year plan to determine if it <br />remains relevant to current Comp Plan and Council's <br />economic development goals <br />iii. Provide input into EDAC development of its 1 -year <br />action plan <br />iv. Adopt EDAC's economic development plans <br />b. Lead Parties: Community Development Staff <br />Key Contributors: <br />Key guidance provided by City Council, <br />with possible assistance of Economic <br />Development Advisory Board, Economic <br />Development Consultants, Developers <br />c. Funding Source: General fund — CD Budget, Contingency <br />6. Goal: Establish an appropriate revenue generation and <br />allocation policy for the City <br />a. Specific Performance Objectives to be completed during 2008 <br />(1) Objective: Start preparation and data generation pertaining to <br />establishing a storm water utility (SWU) (Fourth Quarter 2008) <br />a. Key Action Steps: <br />i. Review /revise original SWU study <br />10 <br />—30— <br />• <br />