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2008 Mounds View Comprehensive Plan <br /> Economic Development Challenges <br /> The following challenges and action steps are, to varying degrees, mitigated by the presence of <br /> financial and other incentives that encourage or allow economic development. Successful economic <br /> development will need careful monitoring of these existing and developing challenges so the City <br /> can make realistic and timely efforts to emphasize Mounds View's many positive attributes. These <br /> efforts would be to effectively minimize or counteract any negative perceptions or circumstances in <br /> or of the City. Examples of such challenges and action steps include the following: <br /> • To address the relative scarcity of raw land suitable for new construction, and in light of the <br /> small size of the few remaining parcels of undeveloped land,the City will: <br /> ✓ Prepare and periodically update an inventory of undeveloped land. <br /> ✓ List available parcels on the City Web site with the knowledge and consent of their <br /> owners/agent. <br /> ✓ Consider acquiring and/or clearing underused sites suitable for new construction. <br /> ✓ Focus development efforts on businesses suitable for smaller lots and investigate the <br /> possibility of combining adjoining lots to accommodate businesses that need larger sites. <br /> • <br /> • In situations involving unrealistic price expectations on the part of those who own undeveloped <br /> land or parcels of land prime for redevelopment (i.e., asking prices well in excess of actual <br /> market value),the City should: <br /> ✓ Wait for the market to catch up with currently excessive asking prices. <br /> ✓ Investigate options that might reduce those prices (offering relocation assistance, etc.) <br /> ✓ Obtain market input from developers and other development/redevelopment <br /> professionals. <br /> ✓ Facilitate education of current market value to property owner. <br /> In cases involving actual or perceived neighborhood opposition to commercial development or <br /> redevelopment, the City will: <br /> ✓ Consider surveying nearby residents to determine their preferences for land uses. <br /> ✓ Consider conducting neighborhood meetings or public hearings for proposed commercial <br /> development(s). <br /> 40 Chapter 7: Economic Development 7-4 <br />