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Summer 2015 City Hall - 3800 Laver ne Avenue Nor th - Lake Elmo, Minnesota 55042 (651) 747-3900City Hall - 3800 Laver ne Avenue Nor th - Lake Elmo, Minnesota 55042 (651) 747-3900 Met Council Reduces City’s 2040 Population Forecast Lake Elmo is expected to grow up to 18,200 residents by 2040 according to the Met Council’s Thrive 2040 draft local forecast. This estimate comes after months of conversation between Lake Elmo’s planning staff and officials from the re- gional planning authority over the available land, the ability to serve residents with utilities and open space philosophy. The Met Council’s 2030 forecast had the community grow- ing to 24,000 based on a previously negotiated memo- randum of understanding with the City that included wastewater inefficiency fees and other penalties if growth numbers were not met. In 2014, with infrastructure in place and development proposals offered, Lake Elmo asked to be relieved of its obligation to grow by the Met Council and the request was granted in November 2014. “The current forecast for Lake Elmo estimates 5800 less residents and ten more years to get there. Our staff did a nice job of convincing the Met Council that their num- bers were just a bit high given many of the land con- straints that we have,” said Mayor Mike Pearson. Under the new estimate, Lake Elmo is expected to grow to a total of 3,800 new jobs, 7,100 new homes, and 18,200 residents – most of the additions are project- ed for the I-94 corridor, an area where sewer and water projects been completed in the past three years. The ad- dition of the Gateway bus rapid transit corridor will aid in the process. Growth will also occur in the Old Village where (3) developers are planning subdivisions to help revitalize commercial development in the downtown area Lake Elmo will begin work on its 2018 Comprehensive Plan to adjust to the new forecast, but efforts have al- ready begun to guide City projects toward the downward numbers. This includes re-purposing certain land uses that were categorized for multi-family residential, that may be better used for commercial or business along I-94. “We have an internal process in place called “functional rebalancing” that we have been using for about a year. We have been working with our developers to drive residential densities lower and preserve more open space in hopes that our popu- lation forecast would be reduced,” said Pearson. Overall, the Met Council expects the region to reduce overall growth by 5% for population and 15% for jobs with concentrated growth in the central areas of St. Paul and Minneapolis. Lake Elmo Ranks 194 / 227 In Government Spending Smith Schafer, the city’s financial auditor, reports that Lake Elmo ranked 194th out of 227 cities for gov- ernment spending per capita in 2013.This puts Lake Elmo in the bottom 15% in the State of Minnesota. Compared to Oakdale, Mathomedi, and Oak Park Heights, Lake Elmo ranks last in tax revenue and per cap- ita spending. The City currently has an Aa2 bond rating.