EDA Packet 12.19.17 - Laserfiche WebLink

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Purpose The purpose of this plan is to expand and enhance the City's commercial and industrial base. An expanded business community will provide an expanded tax base, increased local employment, a greater variety of jobs, goods and services for its citizens. The goal is to establish a healthy, thriving business community that will maintain and enhance the City's high quality of life. Community Feedback The City of Hugo is developing alongside evolving economic markets which are reshaping traditional development models. In its current state, Hugo's growing population and partially developed commercial corridors position the City excellently to welcome new forms of development, which are placing more focus on consumer experience, and creating an attractive business atmosphere. Continuous residential development is increasing demand for services such as restaurants and entertainment venues. Adhering to community feedback and staying up to date on market trends will help the City provide more opportunities to its residents and businesses. Hugo residents have told the City they appreciate the diverse and quality development that has occurred over the last decade, but they would like to see more entertainment venues in the City. With this feedback, Hugo should seek quality development that provides entertainment and restaurant services to the community, in addition to retail, commercial and professional office space. The community has also noticed an abundance of medical services but a lack of pharmaceutical businesses. This is another market the City should encourage. The community has a strong desire to see redevelopment in the downtown along Highway 61, as this was once the commercial hub in the City. The City should encourage redevelopment of the downtown area per the downtown plan and design guidelines. HUGO 2040 COMPREHENSIVE PLAN UPDATE Urban Land Institute Feedback The Urban Land Institute (ULI) is a membership of cross disciplinary economic development and land use experts. Their recent Navigating our Competitive Future workshop of the City of Hugo provided insightful feedback regarding future development, including: • Economic development is less about what a community has rather than what it lacks • Hugo has done a great job of not forcing development before the market is ready • Data centers may be an economic development opportunity for the City • Mixed use development, with housing as an integral part, may be a desirable use in the downtown area • Successful communities develop with a clear vision, react appropriately to opportunities, create innovative financial tools and leverage their key assets • It is important to involve the next generation in decision making • Not all communities should look the same, work to preserve Hugo's character • Capitalize on Hugo's assets — "an urban environment in a rural setting." • Hugo should continue to manage its growth in a disciplined way. All good retail is grown "organically" and not forced prematurely. ECONOMIC COMPETITIVENESS 101