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OF <br />2025 Lake Elmo EDA T"F EL <br />LAKE ELMO <br />Economic Development Work Plan <br />Lake Elmo EDA Mission <br />The Lake Elmo Economic Development Authority (EDA) is committed to preserving and enhancing our community by <br />creating an attractive business climate and listening to businesses and residents to prepare for the economy of tomorrow. <br />Goals <br />1. Business Retention, Expansion, and Attraction (BREA) <br />• Prioritize retention of current businesses and create a favorable environment to attract new <br />development <br />2. Collaboration and Partnership <br />• Engage with regional organizations, Washington County, Chambers of commerce, etc. <br />3. Community Centered Development <br />• Align development with community needs and encourage public participation <br />4. Sustainable Growth <br />• Encourage responsible development that balances economic, environmental, and social factors <br />Purpose <br />The purpose of this document is to guide implementation of EDA action items and the assist Lake Elmo staff when making <br />decisions. <br />Action Items <br />Project d Description Deliverable/Action <br />City Property Planning <br />Issue an RFP for Old Fire Station and Public <br />Works Building including exploring brownfield <br />1st Quarter <br />grants for any environmental clean up <br />necessary <br />Create a plan to develop the City owned 180 <br />Assist City staff and City Council <br />with marketing efforts for city <br />acres to issue an RFP. Work with the Urban <br />owned properties: <br />Land Institute and/or commercial real estate <br />2"d/3rd Quarter <br />brokers and/or consultants. Consider funding a <br />study on the area. <br />Issue an RFP for the City owned 180 acres <br />4th Quarter <br />Enhancing Lake Elmo's Communication <br />Efforts for Economic Development <br />Collaborating with new communications <br />Participate in City efforts to <br />coordinator to make effective website/social <br />2"d Quarter <br />improve marketing materials. <br />updates <br />Continuing efforts to highlight local <br />Adding content to The Fresh Newsletter <br />Year round <br />businesses. <br />Explore joining small business organizations <br />2"d Quarter <br />(Stillwater Chamber of Commerce, etc.) <br />Reviewed by EDA 11/19/2024 1 <br />