2014.09.09 EDA Agenda Packet - Laserfiche WebLink

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Identify Target Business Market Based on the strengths and weaknesses identified for the City, the target business market should be identified. Criteria should be established for desirable businesses, including type of business, size of business, quality of business, type of jobs, types of service. Separate parameters may be established for each market sector including office, retail, industrial and medical. So far, the EDA has discouraged the development of typical large, "big box," style retailers, but has encouraged the development of smaller neighborhood style shopping centers. The EDA has encouraged and has been successful in attracting manufacturing businesses that would create jobs that are desirable for much of Hugo's population. The EDA has also recommended that the City provide locations for many of the small home based businesses that are located in some areas of rural Hugo. Such an area would allow for significant outdoor storage of materials and lesser design standards to encourage the expansion of small businesses within the City. Guide Land Use for Target Business Market The Land Use Plan Chapter identifies locations for future industrial, retail, and office development. The land use plan should be used to guide new businesses to suitable land for new business development. Land is identified within the land use plan where businesses are likely to succeed with good access to transportation, utilities, and proximity to the workforce. The City's website is intended to become a resource for potential business owners who may wish to locate on developed property. On the website, available commercial land in the City will be listed, and through the listings, property owners may be contacted about available space for sale or lease. The City should provide areas for office and medical development that are distinct from retail areas. Due to the City's support of life -cycle housing, additional housing options are being provided for the senior population, which in turn is creating a demand for additional medical development. In addition, much of the new single-family residential development in the City is affordable only to those earning higher incomes. Many of the professionals now living in the City are creating a demand for professional office and service space. Identifying specific areas for medical and office development will also preserve prime retail space along high traffic corridors for retail development. The land use plan includes a category for "business park" development that will be well suited for office, medical, and light industrial uses along key transportation corridors. Market the Ci y The City should market its strengths and opportunities to desirable businesses. Simply making the information available to the business community is the first Chapter 6 _ 6-4 Economic Development Plan' 1 "'HU-