EDSR MEMORANDUM 10-11-1999 - Laserfiche WebLink

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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY • MEMORANDUM TO: Economic Development Authority City Council Housing and Redevelopment Authority FROM: Paul T. Steinman,Director of Economic Development DATE: October 7, 1999 SUBJECT: Strategic Plan Modification Worksession, Monday, October 11, 1999, 5:00 PM 1. Recap Modification Process, Purpose The first Economic Development Strategic Plan was adopted in May 1997. At its two-year anniversary in May 1999, the EDA determined • that a modification of the original Strategic Plan should be undertaken. The Modification Committee consisted of the HRA, EDA, and City Council. The purpose of the modification was primarily to reexamine the four major issues and goals and determine if they are still applicable to our current situation and into the year 2002. The Modification Committee agreed that the four original issues expressed in the Strategic Plan would remain- with some reprioritization occurring. What follows is a comparison of the original issues and those issues as modified by the committee: Ori g inal Issues Modified Issues 1. Industrial Base 1. Industrial Base 2. Business Retention and Growth 2. Business Retention and Growth 3. East Highway 10 Developments 3. Marketing Strategy Redevelopment 4. Downtown Redevelopment 4. DevelopfRedevelop East Highway 10 and the CBD The major shift in issues occurred with moving the CBD redevelopment to a lower priority issue. In response to this, staff has, in the proposed action plan, shown a lesser amount of work activity • proposed on redevelopment of the CBD. Prior to the modification of the Strategic Plan,staff was working on completing a market study of the CBD and continuing work with the various committees that were 13065 Orono Parkway:• P. O. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612) 441-7425 Equal Opportunity Housing and Equal Opportunity Employment