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June 19,2009 EDC Meeting <br /> Item 6A—Economic Development Goals <br /> Although the development industry (among many other business sectors) has suffered <br /> • during the last couple of years, many cities have taken a proactive approach to <br /> development and redevelopment. This includes planning for the economy's upswing by <br /> purchasing property for redevelopment, such as the Fridley HRA's initiatives along <br /> University Ave. For more information, visit http://www.housinginitiative.orq/fridley.html. <br /> Many cities also have responded to the housing market crash by offering extensive <br /> foreclosure prevention services and/or starting housing programs of their own, such as <br /> the City of Coon Rapids' Home for Generations program. For more information on that <br /> program, visit http://www.ci.coon-rapids.mn.us/housing/homeforgenerations.htm. <br /> The EDA/Council's recent actions as shown the aforementioned chart and their <br /> commitment to utilizing most of its Economic Development resources (Tax Increment <br /> Financing) for the Streets & Utility Improvement 9-Year Program, indicates to City staff <br /> that perhaps their Economic Development goals have changed. Therefore, City staff is <br /> requesting that the EDC and EDA/Council discuss this matter to ensure that City staff is <br /> focusing our Economic Development efforts appropriately and realistically. <br /> Below are two questions to help the EDC begin its discussion of the City's Economic <br /> Development goals: <br /> • Can Mounds View reach its goal to redevelop County Road 10 without the use of <br /> public financing tools (such as TIF, Tax Abatement, etc.)? <br /> • <br /> • Has code enforcement become such an important issue that the City should <br /> enhance its neighborhoods further by focusing more City resources on housing? <br /> Recommendation <br /> Staff recommends that the EDC provide input and a recommendation to the City <br /> Council about Mounds View's Economic Development goals. The City Council will be <br /> discussing the City's Economic Development efforts at the July 6, 2009 City Council <br /> Work Session. <br /> Respectfully submitted, <br /> 146;c417, <br /> Heidi Steinmetz <br /> Economic Development Specialist <br /> Page 2 of 2 <br />