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• increase. The analysis indicates an additional 150,000 sq. ft. will be sustainable by <br />2020. <br />• <br />The 35E corridor is attracting development interest. A high priority is funding the <br />completion of the 35E interchange as a necessary condition for any significant <br />commercial /industrial development. With improvements in place, the draft <br />Comprehensive Plan analysis indicates the potential for 66,000 sq. ft. of retail space by <br />2010; and 410,000 sq. ft. by 2020. <br />COMPREHENSIVE PLAN <br />It was the intent of EDAC to incorporate the new Lino Lakes Comprehensive Plan <br />objectives for commercial and industrial land into its Economic Development Plan. This <br />includes an aggressive economic development growth strategy that recognizes the <br />relationship between housing growth and commercial /industrial growth. While EDAC's <br />focus is commercial and industrial expansion and retention, it supports goals and <br />policies for providing diverse types of housing as part of a sustainable city. EDAC <br />continues to support the goals and policies of the draft comprehensive plan and will <br />incorporate them into its action plan. <br />GOALS /OBJECTIVES <br />GOAL ONE <br />Minimize the residential tax burden by raising the commercial /retail /industrial tax bases. <br />1. OBJECTIVE <br />Develop an Economic Development Plan for the City of Lino Lakes through 2015 <br />that corresponds to the draft Comprehensive Plan's commercial /industrial <br />objectives and any updates and revisions thereto. <br />2. OBJECTIVE <br />Annually update a one -year Action Plan component of the Five -Year Economic <br />Development Plan. <br />3. OBJECTIVE <br />Identify opportunities within the Comprehensive Plan for future commercial and <br />industrial growth and initiate planning procedures to manage future growth for the <br />betterment of the community. <br />3 <br />