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HomeMy WebLinkAbout5b. Lake Elmo EDA 2025 Work Plan 2.6.252025 Lake Elmo EDA Economic Development Work Plan Reviewed by EDA 11/19/2024 1 Lake Elmo EDA Mission The Lake Elmo Economic Development Authority (EDA) is committed to preserving and enhancing our community by creating an attractive business climate and listening to businesses and residents to prepare for the economy of tomorrow. Goals 1.Business Retention, Expansion, and Attraction (BREA) •Prioritize retention of current businesses and create a favorable environment to attract new development 2.Collaboration and Partnership •Engage with regional organizations, Washington County, Chambers of commerce, etc. 3.Community Centered Development •Align development with community needs and encourage public participation 4.Sustainable Growth •Encourage responsible development that balances economic, environmental, and social factors Purpose The purpose of this document is to guide implementation of EDA action items and the assist Lake Elmo staff when making decisions. Action Items Project and Description Deliverable/Action Item Timeline City Property Planning Assist City staff and City Council with marketing efforts for city owned properties: Issue an RFP for Old Fire Station and Public Works Building including exploring brownfield grants for any environmental clean up necessary 2nd Quarter Create a plan to develop the City owned 180 acres to issue an RFP. Work with the Urban Land Institute and/or commercial real estate brokers and/or consultants. Consider funding a study on the area. 2nd/3rd Quarter Issue an RFP for the City owned 180 acres 4th Quarter Enhancing Lake Elmo’s Communication Efforts for Economic Development Participate in City efforts to improve marketing materials. Continuing efforts to highlight local businesses. Collaborating with new communications coordinator to make effective website/social updates 2nd Quarter Adding content to The Fresh Newsletter Year round Explore joining small business organizations (Stillwater Chamber of Commerce, etc.) 2nd Quarter 2025 Lake Elmo EDA Economic Development Work Plan Reviewed by EDA 11/19/2024 2 Sharing business stories in Lake Elmo Year round Developing and Maintaining Relationships with Local Businesses Promote resources and tools for economic development to business partners and stakeholders Keep outreach materials updated. Previous examples in 2024 include Sign Guide, Community Development map and information on new projects Year round Creating a city property viewer for zoning districts, shoreland classifications, etc. Year round Compile a list of available resources for businesses -Info to know for Small Businesses in LE -Met Council (SAC and WAC) Year round Engage with local chambers of commerce and business groups to distribute resources and information Year round Continuing investigation into 3M Priority 2 Grant Opportunity for Developing Solar on Landfill Submit letter of intent & proposal if accepted by Trustees. TBD