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<br />Item #: 5D <br />Meeting Date: Feb. 17, 2012 <br />Type of Business: EDC <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Economic Development Commission <br />From: Heidi Steinmetz, Economic Development Specialist <br />Item Title/Subject: Revise Targeted Business List <br /> <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 /> <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 /> <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 /> <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 /> <br />Respectfully submitted, <br /> <br />____________________________ <br />Heidi Steinmetz, Economic Development Specialist <br />