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Special City Council, EDA, and Planning Minutes <br />April 13, 2009 <br />5. Economic Development Strategic Plan <br />Page 2 <br />Ms. Mehelich reviewed the 2004 -2007 Economic Development Strategic Plan presentation. <br />Mr. Eklund facilitated a SWOT (strengths, weaknesses, opportunities, and threats) <br />discussion. <br />2009 - 2012 goals were identified and a 2009 - 2010 work plan was developed as outlined <br />below: <br />GOALS -INITIAL DISCUSSION <br />^ Complete FAST Study -Gateway area <br />^ Plan for Energy City strategic goal <br />- Incubator option <br />^ Downtown redevelopment -Task Force <br />^ Pedestrian/bike path planning <br />^ Marketing of Elk River with a good plan <br />^ Filling existing sites <br />^ Monitoring mortgage foreclosures issues <br />- Impact on Townhouse Associations <br />^ Sewer and water extension <br />- Planning plus capacity <br />^ Absorption of 700 platted residential lots <br />^ Light industrial shovel-ready lands <br />^ Business retention -current businesses' jobs and retention <br />^ Inventory of available spaces <br />^ Take next 3 years to plan for economic recovery <br />^ Housing Code -Identification of problem properties and enforcement <br />^ Improve County relationships -County EDA <br />^ 3.5 years -build light industrial base/services/corporate campus locations -jobs <br />leading residential to commercial <br />^ Energy/technology/diversification from Light Industrial base <br />^ Economic development diversification goal <br />^ Redevelopment/Absorption <br />- Aging housing stock <br />- Foreclosures <br />- City intervention in stabilizing declining homes? <br />- Neighborhood stabilization <br />- Commercial <br />^ Community Development - Marketing of the City <br />- What is the image/vision for the city? <br />- Marketing plan for the city <br />- Selling internal, as well <br />PRELIMINARY ACTION PLANS <br />Goal #1: Industrial Development <br />^ Build on light industrial base <br />