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Strategic Planning Memo <br /> December 5, 1996 <br /> Page 3 <br /> • <br /> 4. Complete a financial analysis including projections for <br /> sale, development, and return on investment. <br /> 5. EDA to make recommendations to the City Council for <br /> funding participation. <br /> 6. Acquire property, negotiate joint development agreements, <br /> establish marketing plan, etc. <br /> The EDA's second primary objective at the worksession will be <br /> to identify areas east of 169 that are within the urban service <br /> boundary, which could be zoned to accommodate industrial <br /> growth. This objective will require a bit more analysis, and <br /> planning/engineering staff will be available at the worksession to help <br /> address this issue. The Strategic Planning Task Force is anticipating <br /> that the EDA will produce a map of the area East of 169 which would <br /> be taken through the process of rezoning, if necessary, to accommodate <br /> industrial growth. It should be noted that the Task Force's vision is <br /> that we should have a minimum 300 acres of industrial (Business Park <br /> included) zoned land within the urban service boundary, some of which <br /> is available immediately for development (west area - Business Park) <br /> and other land which will be available in the near future (east area) <br /> and more available in the distant future (north gravel pits). <br /> The EDA's third primary objective at the worksession is to <br /> outline an action plan for "other" areas of the city, likely the <br /> gravel pits on 169, for future industrial growth opportunities. <br /> This step should be fairly simple due to the length of time prior to <br /> those areas being viable for development. Steps which could be taken <br /> at this time include land use/zoning modifications. <br /> Action steps related to non-urban industrial sites will be discussed at a <br /> later date under the East Highway 10 development/redevelopment <br /> issue. <br /> IV. CONCLUSION <br /> The discussion by the Task Force which ensued regarding the <br /> industrial base issue was that if the industrial base of Elk River is to <br /> grow significantly, it would be necessary for the city to aggressively <br /> implement action steps to accomplish this activity. This aggressive <br /> approach included discussions of possible city investment for the <br /> purchase, improvement, and marketing of industrial property. There <br /> certainly are less aggressive alternatives to this issue which the EDA <br /> can discuss. These alternatives may include entering into joint <br />