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Page -4- <br />Economic Development <br />* This department is critical to Lino Lakes development towards becoming <br />a metro player in the commercial\industrial scene. <br />* Presently, 90% of tax base is shouldered by residents - our priority <br />is to change that. <br />* Business Retention program created in 1993 - Surveys were mailed to 115 <br />local businesses - 50% responded - follow up personal contact by <br />EDAAB members was begun and will continue <br />* Apollo Business Park - County owned Apollo Drive was completed 1993, arterials <br />to be completed in 1994 <br />* Welcome Accu -Tool to the community <br />* The Construction Laborers' Education & Training Center located east of I -35E <br />and County Rd 14 will be completed this spring <br />* The Charter Commission amended the City Charter this past year and designated <br />3 Economic Development Districts. This will allow for protections under <br />the charter to be more compatible with economic development <br />* A grant from NSP will allow for the production of a promotional brochure <br />featuring the Apollo Business Park <br />* Adding 2 new members to the EDAAB, let us know if you are interested <br />in serving please contact city hall <br />Finance <br />* 1994 Annual operating budget $1.9 million <br />* $80,000.00 was cut out of the proposed budget in order to prevent <br />a tax increase for residents <br />* Will be establishing an agreement with White Bear Township to contract <br />out financial services <br />* The City is in excellent financial health <br />