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2024 Lake Elmo EDA <br />Economic Development Work Plan <br /> <br />2 <br />Drafted 11/21/2023 – Updated 2/12/2024 – Approved by EDA 2/20/2024 <br />Action Step: A community asset and resources list will begin to be developed in 2024 and will be <br />maintained on an ongoing basis. <br />Action Step: City staff with the assistance of CDA staff will meet with interested property owners, site <br />selectors, commercial realtors, developers on an ongoing basis to promote development opportunitfes. <br />Action Step: Engage community stakeholders to determine what types of businesses they would like to <br />see developed in Lake Elmo. <br />Deliverables: Staff will explore optfons to update the EDA’s web presence including, consideratfons for a <br />potentfal web platiorm, adding an inventory of available land and buildings, listfng available business <br />resources and developing a digital marketfng plan and materials {digital rollout} for business recruitment, <br />expansions and retentfon. This will begin in the first quarter of 2024 and will be ongoing. <br />Recommendatfons will be provided to the EDA members on a regular basis for discussion and input. <br />Deliverables: Staff will attend events attended by commercial realtors, developers and site selectors. This <br />began in the second quarter of 2021 and will be ongoing. <br />Deliverables: Staff will create a needs assessment report to determine what types of businesses <br />stakeholders would like to see developed in Lake Elmo. This needs assessment will include results from <br />online surveys and community meetfngs. <br />Goal #4 <br />Explore the feasibility of developing a solar farm on a former city landfill site using 3M <br />Settlement Priority 2 grant funds <br />Action Step: Conduct a feasibility study that will include establishing need and purpose, environmental <br />review, and talking to solar farm companies about demand, cost, and benefit to the City of Lake Elmo. <br />Action Step: Review paying off general obligatfon bonds on a former city landfill site when determining <br />feasibility. <br />Deliverables: To be determined <br /> <br /> <br /> <br /> <br /> <br /> <br />