09/02/2008 Council Packet - Laserfiche WebLink

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purchase agreement with the HRA. The authority for the lease comes from Minnesota Statutes, Section 465.71. Capital Improvement Bonds Capital improvement bonds are the newest capital finance power for Minnesota cities. This authority was granted by the State Legislature in 2003. Through this authority, the City can issue bonds to finance the acquisition or betterment of a city hall, a public safety facility, or a public works facility. The statute does not define the precise nature of public safety or public works facilities. This debt authority is subject to several procedural requirements and limitations: Implementation To implement the Economic Development Plan, the City will consider the following implementation measures, which were developed from strategies identified in the Visioning and Comprehensive Plan process: To expand and diversify the City's tax base by encouraging mixed -use and nodal development to lesson the tax burden on residential properties (Goal 1), the City of Lino Lakes will: • Establish guidelines for the appropriate inclusion of green spaces, paths, sidewalks and other people- oriented amenities within commercial areas and throughout the city. • Review and clearly define design standards to promote consistent application and timely approvals for commercial and industrial development. To work with developers to identify innovative strategies for attracting entry level and smaller entrepreneurial businesses to Lino Lakes (Goal 2), the City of Lino Lakes will: • Collaborate with business support organizations to serve the needs of current and future businesses. To attract and encourage new light industrial, high tech, business and professional services enterprises and maintain and expand existing businesses in Lino Lakes (Goal 3), the City of Lino Lakes will: • Develop strategies and programs to attract high tech and high value industrial and business and professional services enterprises that have an emphasis on job creation. • Continue to support local business retention and expansion initiatives. • Promote the rehabilitation and redevelopment of existing commercial facilities by continuing to pursue and make available various financial programs and assistance. • The EDAC will continue to prepare five year economic development plans. • The EDAC will continue to prepare one year action plans. • Consider the use of available financial incentives (i.e. TIF /tax abatements /grants, etc.) to attract businesses to relocate or start up in Lino Lakes. 5 -24 • • •