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To: Economic Development Commission Members <br /> From: Kevin Carroll, Economic Development Coordinator M <br /> Subject: Comprehensive Guide Plan update <br /> (Economic Development Section) <br /> Date: May 27, 1999 EMORANDUM <br /> At our next meeting on Thursday, May 27, 1999, we will continue our prior <br /> discussions regarding the Economic Development section of the Comprehensive <br /> Guide Plan update. It is presently anticipated that at the City Council meeting on June <br /> 14, 1999, the Council will be asked to adopt a resolution requesting (from the <br /> Metropolitan Council) another extension of the deadline for submitting the City's final <br /> version of its updated Comprehensive Guide Plan. The extension will be requested in <br /> order to provide the Planning Commission, the EDC, the EDA, City staff, and the City <br /> Council with the additional time that will be needed to complete ongoing discussions <br /> regarding the format and content of the updated Comprehensive Guide Plan. <br /> The EDC should, of course, continue to work toward the eventual adoption of an <br /> Economic Development section that can be reviewed (and then either approved or <br /> modified) by the EDA and the City Council. To that end, I have attached the latest <br /> draft of the ED section, which has been revised to reflect the changes that were <br /> suggested/discussed at the last EDC meeting. The primary changes and issues that <br /> you should review and consider are as follows: <br /> • In Part 1, I have changed the "new residential housing project" <br /> references to "residential housing." <br /> • I have moved the TIF paragraph that was previously in Part 1 <br /> [Community Economic Goals] to Part 2 [Financial Incentives]. <br /> • I have attached the City's TIF Policy, and information on the <br /> Business Improvement Partnership loan program, as referred to in <br /> Part 2. <br /> • I have revised the caption of Part 3 by eliminating the reference to <br /> "Disincenti " and substituting "Economic Development <br /> Challenges. '! <br /> • The EDC should decide whether to retain the "recaptioned" Part 3 <br /> within this document, or move it to an attachment or exhibit, or <br /> elimina ing 't entirely from the ED Section of the Comprehensive <br /> • Guide Plan (and possibly incorporating it into a "shorter term" <br /> EDC work plan or some similar type of document). <br /> ■ <br />