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ITEM # 7. <br /> • <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: July 12, 2004 <br /> SUBJECT: Economic Development Strategic Plan Update <br /> Attachment <br /> • DRAFT Priority Issue Strategies,2004-2007 Economic Development Strategic Plan <br /> Background <br /> • The Economic Development Strategic Plan provides a framework for the Commissions to work within <br /> and focuses staff energies on those priority areas important to the economic health of the City. <br /> In March and May 2004 the EDA participated in two work session discussions for the Economic <br /> Development Strategic Plan Update. Jim Brimeyer facilitated the work sessions. Additional <br /> participants included the City Council, HRA, and EDA subcommittees Incubator Advisory,Finance, <br /> Marketing, and city staff. <br /> The group identified the following 2004-2007 priority issues in order of importance: <br /> • Industrial Development <br /> • Central Business District (CBD) <br /> • Transportation <br /> • Commercial Development <br /> Issues for Discussion <br /> For this meeting, staff would like the EDA to provide feedback on the attached list of strategies for <br /> addressing the Transportation and Commercial Development issues. <br /> Next Steps <br /> Following is a timetable for review and adoption of the Economic Development Strategic Plan: <br /> July- EDA provides feedback for staff on Transportation and Commercial Development strategies <br /> July- Staff drafts action steps based on the strategies and completes draft Plan <br /> • <br /> August-Sept. - EDA, Council and HRA considers adopting the 2004-2007 Strategic Plan <br />