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r <br /> ➢ A small industrial base <br /> ➢ Only one industrial park with appropriate city services <br /> ➢ A lack of communication between the City and the private sector <br /> ➢ A lack of coordinated economic development programs or promotion <br /> ➢ No downtown business area plan <br /> ➢ An uncertain industrial growth potential <br /> ➢ A negative State tax structure <br /> 2. General Ap roach <br /> TY The City needs to strive to achieve a balanced mixture of land use in order to <br /> stimulate economic development A balanced land use profile would stimulate <br /> local employment, expand the local tax base, foster new ancillary service <br /> businesses and thereby improve the City's ability to provide services. The City <br /> can best achieve this balance by guiding and zoning land for commercial and <br /> industrial development according to: <br /> ,LL 1) Utility - provide land that business and industry would want, i.e. good <br /> transportation access, urban services and utilities. <br /> ` 2) Performance - adjust zoning regulations and guidelines so as to encourage <br /> local business to expand in the City and new business to locate in Hugo. <br /> ri <br /> 3) Organizational - the City should investigate in the formation of and <br /> financially support the activities of a private non-profit Economic <br /> Development Corporation, to foster expansion and growth of <br /> commercial/industrial real estate in the City of Hugo. <br /> Additionally, the City should enact an ordinance for the registration and <br /> regulation of all existing and future home based businesses to provide <br /> guidance to established and establishing home based businesses, to support <br /> the adjacent landowners and to promote the safe use of infrastructure. <br /> 3. Action Plan <br /> In assessing the City's strengths and weaknesses, the City has formulated certain <br /> goals and objectives in order to effectively pursue policies appropriate for local <br /> economic development The overall goal would be "to encourage the economic <br /> development and vitality of Hugo". To achieve this goal, a series of more <br /> specific goals and objectives have evolved from a recognition that; <br /> ➢ Expanded and more coordinated economic development efforts are needed <br /> locally. <br /> ➢ Special attention to local industries is necessary. <br /> ➢ Expansion and diversification of the manufacturing base is needed. <br /> City of Hugo Page 113 <br />