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• Item #: 5D <br /> Moulvns \ 1 ' T Meeting Date: Feb. 17, 2012 <br /> �/ ��/ Type of Business: EDC <br /> Administrator Review: <br /> City of Mounds View Staff Report <br /> To: Economic Development Commission <br /> From: Heidi Steinmetz, Economic Development Specialist <br /> Item Title/Subject: Revise Targeted Business List <br /> Background <br /> Chapter 7 (the Economic Development chapter)of the 2008 Mounds View Comprehensive <br /> Plan includes the following statement: "In order to continuously refine and review its <br /> objectives as economic conditions and realities change, the City, through the Economic <br /> Development Commission (EDC) and/or the Economic Development Authority(EDA) will <br /> annually update its list of targeted business categories." <br /> Discussion <br /> The EDC approved the following targeted business list in May 2008. A documented list can <br /> serve as a business recruitment tool for the City. <br /> • Specialty Retail <br /> • o Hardware store <br /> o Jewelry store <br /> o Florist <br /> • Big Box Retail <br /> o Grocery store <br /> • Professional Office/Services <br /> o Medical or dental clinic <br /> o Optometrist office <br /> o Financial institutions <br /> o Funeral home <br /> • Sit-down Restaurants <br /> Recommendation <br /> Staff recommends that the EDC review and potentially update its targeted business list, <br /> assuming that the EDC's business recruitment goals are to increase the City's tax base <br /> with highest and best use development, to create high-wage jobs and to provide residents <br /> with goods and services that are not currently available in Mounds View. Staff will forward <br /> the EDC's 2012 targeted business list to the EDA. <br /> Respectfully submitted, <br /> Heidi Steinmetz, Economic Development Specialist <br />