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2025 Lake Elmo EDA <br />Economic Development Work Plan <br />Reviewed by EDA 11/19/2024 1 <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 and Description Deliverable/Action Item Timeline <br />City Property Planning <br />Assist City staff and City Council <br />with marketing efforts for city <br />owned properties: <br />Issue an RFP for Old Fire Station and Public <br />Works Building including exploring <br />brownfield grants for any environmental <br />clean up necessary <br />2nd Quarter <br />Create a plan to develop the City owned 180 <br />acres to issue an RFP. Work with the Urban <br />Land Institute and/or commercial real estate <br />brokers and/or consultants. Consider funding a <br />study on the area. <br />2nd/3rd Quarter <br />Issue an RFP for the City owned 180 acres 4th Quarter <br />Enhancing Lake Elmo’s Communication Efforts for Economic Development <br />Participate in City efforts to <br />improve marketing materials. <br />Continuing efforts to highlight local <br />businesses. <br />Collaborating with new communications <br />coordinator to make effective website/social <br />updates <br />2nd Quarter <br />Adding content to The Fresh Newsletter Year round <br />Explore joining small business organizations <br />(Stillwater Chamber of Commerce, etc.) 2nd Quarter