EDA Packet 09.19.17 - Laserfiche WebLink

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Cxisfi�j o`1G30 blah 5 Chapter 6: Economic Development Plan 6.1. INTRODUCTION In 2004, the City reorganized its Economic Development Authority (EDA) into a seven member advisory group including the Mayor and one City Council member. As an advisory commission to the City Council, the EDA is responsible for attracting economic growth and development, retaining businesses, and assisting with the expansion of existing businesses within the community. The EDA recommends economic development policies and economic financing incentives to the Council, and works to promote the City. The EDA has prepared this long-range strategic plan for economic development within the City. 6.2. PURPOSE The purpose of this plan is to expand and enhance the City's commercial and industrial base. The City's goal is to establish a healthy, thriving business community that will maintain and enhance the City's high quality of life. An expanded business community will provide an expanded tax base, increased local employment, a greater variety of jobs, and a full range of goods and services for its citizens. 6.3. BACKGROUND AND BUSINESS CLIMATE Downtown Hugo Historically, the City's business community has been concentrated in the downtown area of Hugo. The majority of the City's retail and service businesses are still located in the downtown area. The downtown area contains approximately 145,000 square feet of commercial space occupied by approximately 41 businesses. The retailers include both neighborhood convenience businesses and specialty retailers. There are a variety of automotive uses as well as service businesses in the downtown. Most of the businesses are independently owned local businesses with very few national chains or franchises. Downtown Hugo is also characterized by City Hall, St. John's Church, the American Legion Hall and Hugo Elementary School. Highway 61 Overtime, a wide variety of businesses have located along much of the length of Highway 61, particularly north of the downtown area. The majority of the businesses located along Highway 61 remain to this day on private well and septic systems and many are located in metal pole barns on gravel lots and contain uses that require outdoor storage. Uses along the corridor include automotive uses, manufacturing uses, contractor operations, landscaping businesses, auto salvage yards, and a recycling center. The majority of the businesses have minimal investments into buildings or site improvements, and many of these will likely be redeveloped as municipal services are extended to these areas.