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City of <br /> Elk �-- Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authori 7.4 <br /> Agenda Section Meeting Date Prepared by <br /> General Business August 17, 2020 Colleen Eddy, Economic Development Specialist <br /> Item Description Reviewed by <br /> Strategic Plan Update Amanda Othoudt,ED Director <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Receive an update on the Strategic Plan. <br /> Background/Discussion <br /> The EDA Strategic Plan is progressing along the proposed timeline. Staff conducted a site tour with Stantec on <br /> June 11,participated in three Stantec-facilitated focus groups on June 24, and met with Stantec's Project <br /> Leader,Tom Leighton, on August 7 to discuss peer city benchmarking,which is part of Task 2 Economic <br /> Development Analysis. The peer city benchmarking will elicit information on the economic development <br /> budgets and programmatic activities and perspectives of the peer cities related to the various topics in the <br /> strategic plan. The peer identified cities are Forest Lake, Chaska, Oakdale, and if we need a fourth, Hastings. <br /> Stantec will conduct structured interviews with peer city economic development staff or their EDAs and ask <br /> the following questions: <br /> • What are their programmatic focus areas? <br /> • Which activities and programs do they feel function particularly well, and why? <br /> • How do they monitor progress? <br /> • What do they see as potential opportunities for new activities? <br /> • Can you tell us about your current activities and thoughts relative to our eight economic <br /> development topical areas? <br /> Financial Impact <br /> N/A <br /> Mission/Policy/Goal <br /> The Strategic Plan will build upon the EDA's existing plans including the city's vision,Mississippi Connections <br /> Plan, FAST Study, Comprehensive Plan, Parks and Recreation Plan, Capital Improvement Plan, along with any <br /> other relevant studies that have set forth goals and objectives for economic growth and sustainability. <br /> Attachments <br /> ■ Strategic Plan Project Update <br /> The Elk River Vision <br /> A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r <br /> service, and community engagement that encourages and inspires prosperity ,g /` UR <br />