CC PACKET 02091988 - Laserfiche WebLink

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ECONOMIC DEVELOPMENT OPPORTUNITIES Page 16,July 1987 • VI. ELIMINATING OBSTACLES AND SEIZING OPPORTUNITIES s Local financing for highways. The region's internal highway system should be improved immediately. North-south routes on both sides of the river need improvement. A decade is too long to wait for another east-west route. The region's leaders are working extensively with county, metropolitan and state highway planner to speed-up scheduled improvements. Other options should be explored One approach would be to establish a North Suburban Highway Improvement District. There is precedent for this type of action. In the 1960s, a special district was created in the northern suburbs to finance the construction of Unity and Mercy Hospitals. Both hospitals are now owned and operated by Health Central, Inc.,a private non-profit health care corporation headquartered in Brooklyn Center. The special district should have the authority to tax (property and/or regional sales tax)and borrow to finance highway improvements. There is precedent for granting this type of authority. In 1986,the legislature gave the City of Minneapolis authority to levy a local sales tax in order to finance a major capital improvement, its convention center. The North Suburban Highway Improvement District's authority should be limited to those projects which are now scheduled for state and/or federal financing. This restriction is 0 desireable for two important reasons: ✓ First, it makes the special district a prefunder of planned improvements. in effect it will be providing construction rather than permanent financing. This approach limits the additional cost to taxpayers to the interest on "construction" loans. ✓ Second, projects scheduled for state and federal funding are part of the metropolitan area transportation plan. Thus,there will be no risk that the special district's actions will violate that plan. • Develop a strateav for each IQ= industry The Northern Mayor's Association should organ- ize separate task forces to develop specific plans for each of the three target industries decribed previously. ✓ The Construction Services and Supplies Task Force should survey the region's general and specialized contractors to determine the demand for a contractors' market and/or. industrial park. It should also identify related businesses and test their desire to be located within a short distance of their customers,contractors. ✓ The Medical Technology Task Force should build on the work of the City of Coon Rapids by concentrating it efforts on development related to North Memorial Medical Center and Medtronic, Inc.. BLAZAR RESEARCH