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PRIORITY ISSUE#4: COMMERCIAL DEVELOPMENT <br /> What is the issue? <br /> - Appropriate locations for additional commercial development <br /> - Types of desired commercial development <br /> Why an issue? <br /> - Community interest in more options <br /> Consequences of doing nothing: <br /> - Residents will shop where there are more options i.e. other cities <br /> - Land will develop as residential (less tax base) <br /> - Existing businesses may move to other cities with critical demand <br /> - Development opportunities will bypass Elk River for other communities <br /> VISION ALTERNATIVES <br /> - Definition of the desired types of commercial development <br /> - Develop planned commercial corridor(s) that provide development/redevelopment opportunities to <br /> guide future inquiries <br /> BARRIERS <br /> • Limited availability of undeveloped land <br /> • Redevelopment/relocation costs <br /> • MnDot Transportation Plans (interchanges) <br /> • Timing of market demand and interest <br /> F:\SHRDOC\EDA\STRATPLN\2004 Update\elkedaresultsUPDATE.doc <br />