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Economic Development Strategic Plan Worksession Page 3 <br /> May 3,2004 <br /> • • Household supporting wages <br /> • Diverse services/products <br /> • Quality construction <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 Development Strategies: <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 infrastructure (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 /> • Provide an opportunity for landowners to be part of the development <br /> • Consider City ownership of all industrial/business parks, financed over a multi-year <br /> period <br /> • Develop a program to purchase portions of private industrial/business 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" structures <br /> • No connection to the river <br /> • Lose "traditional" uses <br /> • Minimum opportunity for desirable redevelopment <br />