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• Economic Development Commission The Economic Development Commission(EDC)is a seven-member body that advises the EDA on economic development activities. The City established the Commission to facilitate positive interaction between the City and the business community. The Commissioners may be City residents or non-resident business representatives. The City should use EDA powers and the EDC's advice to address the following economic development challenges in Mounds View. Economic Development Challenges The following challenges and action steps are, to varying degrees, mitigated by the presence of financial and other incentives that encourage or allow economic development.Successful economic development will need careful monitoring of these existing and developing challenges so the City can make realistic and timely efforts to emphasize Mounds View's many positive attributes. These efforts would be to effectively minimize or counteract any negative perceptions or circumstances in or of the City. Examples of such challenges and action steps include the following: • To address the relative scarcity of raw land suitable for new construction, and in light of the • small size of the few remaining parcels of undeveloped land,the City will: ✓ Prepare and periodically update an inventory of undeveloped land. ✓ List available parcels on the City Web site with the knowledge and consent of their owners/agent. ✓ Acquire and/or clear underused sites suitable for new construction. ✓ Focus development efforts on businesses suitable for smaller lots and investigate the possibility of combining adjoining lots to accommodate businesses that need larger sites. • In situations involving unrealistic price expectations on the part of those who own undeveloped land or parcels of land prime for redevelopment (i.e., asking prices well in excess of actual market value), ✓ Wait for the market to catch up with currently excessive asking prices. ✓ Investigate options that might reduce those prices (offering relocation assistance,etc.) ✓ Obtain market input from developers and other development/redevelopment professionals. • In cases involving actual or perceived neighborhood opposition to commercial development or redevelopment, the City will: ✓ Survey nearby residents to determine their preferences for land uses. ✓ Consider requiring neighborhood meetings or public hearings for proposed commercial IIII development(s).