4.1. SR 05-19-1997 - Laserfiche WebLink

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brought forward by staff as a result of implementation of the Strategic Plan. These substantial initiatives are as follows: <> The rezoning of eight areas indicated on the attached map from their current classification to one which would be appropriate for Business Park and]or industrial development. <> The potential purchase of Business Park and]or industrial property by the city, and a commitment of funds to achieve such purchase. ~ Pursuing construction of the new transportation corridor, including utilities, between County Roads 12/13 and Highway 10. <> Support of the EDA/HRA's actions to undertake the following activities: * Identification/prioritization/marketing of redevelopment areas in the east Highway 10 corridor and central business district. * Continued financial commitment to the Business Incubator project. * Completion of a focus study and market study in the central business district to identify physical elements and potential viable business uses. Council adoption of the Economic Development Strategic Plan will provide direction to staff to research the initiatives as described above and recommend actions to the responsible boards, commissions, and the City Council. CONCLUSION In conclusion, final adoption of the Economic Development Strategic Plan will set in motion an effort to take advantage of all positive aspects of economic growth which may occur in the foreseeable future. The Strategic Plan provides clear and concise direction to the Economic Development Department, EDA, HRA, City Council, and business/residential community on our approach to shaping economic growth well into the next century. Adoption and implementation of the Strategic Plan will help assure the residential and business community that their investment in Elk River will provide a positive return.