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Economic Development Strategic Plan Worksession <br />May 5, 2004 <br />• Household supporting wages <br />• Diverse services/products <br />• Quality cons[ruxion <br />• Utility costs are reasonable <br />• Land costs are "affordable" <br />Industrial Development Barriers: <br />• Cost of land <br />• Offers from other cities <br />• Reluctant owners (to sell land) <br />• Ability to provide infrastructure (utilities, roads) on a timely basis <br />Industrial Develoument Strateeies <br />• Expand/grow existing businesses <br />• Reduce the cost of development <br />o Land cost <br />o Utilities <br />• Use city-owned land <br />o Make infrastruxure (utilities, roads) available <br />• Have options available <br />o Joint marketing with private landowners <br />o Designate several location options for businesses <br />o Develop a "price point" policy <br />• Develop a more generous incentive program <br />Page 3 <br />• Provide an opportunity for landowners to be part of the development <br />• Consider City ownership of all industrial/business parks, financed over amulti-yeaz <br />period <br />• Develop a program to purchase portions of private industriaVbusiness parks over <br />time -with options to purchase additional land <br />CENTRAL BUSINESS DISTRICT (CBD) <br />What is the issue? <br />• Method to define the boundaries <br />• Determining preferred uses <br />Why is this an issue? <br />• Area is divided - no connection <br />• Lack of an overall plan <br />• "Historical" issues <br />Consequences of doing nothing <br />• Lose ties to the City's past <br />• Lose "historic" struxures <br />• No connexion to the river <br />• Lose "traditional° uses <br />• Minimum opportunity for desirable redevelopment <br />