2.0. EDSR SPECIAL AGENDA 03-08-1999

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The process of strategic planning has been used for years in private industry, • but more recently by governmental units to provide clear and concise direction to staff and city councils/EDA/HRA regarding goals & objectives. The Elk River Economic Development Strategic Plan has played a significant role in providing direction to staff over the past two years. It is very advantageous for staff to have the EDA, Council, and HRA agree upon long term goals and objectives up front, so there is support for the various types of activities and undertakings of the economic development department. Staff included in its 1997 Annual Report, a progress report on action steps assigned to the department from the Strategic Plan. Staff has updated this progress report to reflect activities accomplished in 1998 and this progress report is attached to this memo. The progress report is staffs perspective so it will be important for the Council/EDA/HRA to comment on the specific action items themselves, indicating whether they are in agreement with staffs perspective regarding progress made on various action steps. Jim Brimeyer will walk the group through the SWAT (strength,weaknesses, opportunities, and threats) analysis which was completed for this first Strategic Plan, and then continue by leading a discussion on the major issues which were listed by the original Strategic Planning Committee from which it compiled the four major issues of the Economic Development Strategic Plan. The four major issues with their respective goals are as follows: •. Industrial Base Attract New Businesses to Increase the City's Industrial Base • Business.Retention and Growth Retain and Grow the City's Existing Business/Industry • East Highway 10 Development/Redevelopment Redevelop the East Highway 10 Corridor • Downtown Redevelopment Attract Reinvestment in the Elk River Central Business District Mr. Brimeyer will continue with the discussion of whether the four existing strategic issues should remain in place or whether other issues have come to surface over the past couple years which would now take priority. Upon completion of this discussion, Mr. Brimeyer will ask the groups to discuss whether they feel an update of the Strategic Plan is necessary at this time. Staff feels-that an update of the Strategic Plan is necessary and appropriate at this time. With new HRA, EDA, and City Council members,it is imperative that consensus be reached regarding major issues and goals of the economic development department. Due to this, staff feels it is necessary and • appropriate for an update of the Strategic Plan to take place, thereby providing staff such board and councilconsensus on major issues and goals.