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Contents <br />Executive Summary 1 <br />Introduction and Background 5 <br />Market Feasibility 11 <br />Local Benefit 18 <br />Community Role 22 <br />Phasing and Timing 25 <br />Next Steps 28 <br />About the Panel 30 <br />Acknowledgments <br />On behalf of ULI Minnesota, the panel would like to thank the City of Lake Elmo for inviting ULI <br />to conduct this study. In particular, the panel would like to thank Nicole Miller, City Administrator, <br />Jason Stopa, Community Development Director, Ashley Monterusso, City Planner, Sophia <br />Jensen, Senior Planner, and the City’s elected leadership for working closely with ULI Minnesota <br />staff in preparing for and hosting the panel. <br />The panel would also like to thank the City’s elected leaders, municipal staff, the Economic <br />Development Authority, the engineers, architects, business owners, local nonprofits, and Lake <br />Elmo residents for sharing their insights and perspectives during the interview sessions.