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Home My WebLink About01 22 2013 EDA 8A Plan Vision Strategic O � PRIp f�� v 4646 Dakota Street SE Prior Lake. MN 55372 '�iviv�so� ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT MEETING DATE: January 22, 2013 AGENDA #: 8A PREPARED BY: Dan Rogness, Community & Economic Development Director AGENDA ITEM: EDA BUSINESS PLAN AND 2030 VISION & STRATEGIC PLAN DISCUSSION: Introduction The City Council adopted the 2030 Vision & Strategic Plan on February 21, 2012, and it adopted the EDA Business Plan on September 24, 2012. The council will be discussing the 2030 Strategic Plan at a Work Session on Febru- ary 25�', so staff is asking the EDA to review and discuss both documents in or- der to evaluate: (1) the Economic & Community Development strategic element goals, and (2) the 2012/2013 implementation plan within the EDA Business Plan. Hi StOry The EDA spent considerable time in on its Business Plan during 2012. It should discuss the implementation of this plan periodically, including the first meeting of the year. The EDA's business plan also ties into the 2030 Vision & Strategic Plan, so the EDA should be reviewing both documents. Current Circumstances The EDA's Business Plan include five implementation actions related to: (1) broadband, (2) technology village, (3) property supply and demand, (4) targeted areas for development assistance, and (5) city codes and fees. The 2030 Vision & Strategic Plan identified five goals related to: (1) community-wide fiber net- work, (2) technology village/incubator, (3) data center with fiber optic access, (4) redevelopment plan, and (5) city code impact on economic development objec- tives. Some key areas overlap, including broadband/fiber, technology vil- lage/incubator, and city codes (for business friendly changes). Conclusion The first meeting of the year is a good time to evaluate progress toward stated economic development goals and objectives. It is also important to identify key actions that are important to get underway in 2013. Discussion can continue to the EDA's next meeting on February 19�' (Tuesday). ISSUES: The EDA has resources available to help achieve economic development goals and objectives, including: 1. Business revolving loan accounts (approximately $200,000). 2. TIF 1-1 redevelopment fund (approximately $200,000). 3. Technology Village budget ($50,000 with 2013 budget amendment). 4. 2013 EDA budget for professional services ($60,000). 5. Staff resources, including the Frank Boyles, Dan Rogness, Jerilyn Erick- son and Casey McCabe. The substance of the EDA's conclusions with respect to the business plan will provide input to the City Council when they update the 2030 Vision and Strategic Plan at their work session on February 25. FINANCIAL See resources available under "Issues" IMPACT: ALTERNATIVES: For discussion only. RECOMMENDED N/A MOTION: ATTACHMENTS: 1. EDA Business Plan 2. 2030 Vision & Strategic Plan (Econ. and Comm. Dev. element only) 2 � . 4� P ��"'�i'' �„►.'"" . � � ��+nes+�`��` "A Wonderful Place to Live, Work and Play for a Lifetime" PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY (EDA) BUSINESS PLAN — APPROVED SEPTEMBER 24, 2012 Purpose The City's mission, as stated in 2030 Vision and Strategic Plan, is to "enhance the quality of life for current and future citizens by providing quality services which result in a safe and healthy community; recreation and leisure opportunities; preservation and effective use of lakes, parks and other natural resources; economic vitality; and the promotion of partnerships, volunteerism and civic pride for the community's diverse population." This business plan will guide the Prior Lake Economic Development Authority (EDA) as it develops and implements strategic initiatives in 2012-2013 and beyond to 2020 and 2030. Primary "economic vitality" goals relate to: (1) job creation/retention, (2) services for businesses and residents, and (3) a stable and reliable tax base. Prior Lake is very desirable for many reasons, but the city needs an active and entrepreneurial entity such as the EDA to work directly with new and existing businesses to fulfill Prior Lake's vision as a wonderful place to live, work and play. This business plan begins to develop a framework for the EDA, which will be reviewed and approved by the EDA and City Council annually. �� . � ,•...�:;: � ....� �� $,,,.� ��„w:; �� ` .� r > �� M. .a �xi.__...� � �� « , �`�ur � ,.� � � � � y , <'e :e � � �� : � v. ' " . ...� Y w ° . ». �' �.'. . .... . . ... .. . . ... . .. � � . �xMn�M�w YMMR�MM�wMlN/�e'+Oe�^,�y..,.t';KF✓etw°+ � '. � � � � . �. . .. � �.... . .�.. M ......qWM�9�,., ee .. ..a. 4FYAII�'. �. . ` . ' ..: , ,,. ; . �. .. . �.' . .. : . . . P� v. .... ..+ . ,.� rA� . . ... . � � �. . X � Page 1 of 9 � . Achievement Goals — Jobs, Businesses, Values and Taxes Considering the city's strengths and challenges, the following goals are established for Prior Lake related to jobs, businesses and taxable market value increases. The "Base" figures are estimates based on the past ten year history of commercial and industrial development. These base projections assume jobs and businesses will be added due to normal market demand. "New" goals show an increase in jobs, new businesses and market value, over and above the historical average. These new goals assume an increased public investment by the EDA and City Council (i.e., public financing assistance, business incubation, public land sales). With increased public investment in commercial and industrial development, the new goals show an estimated increase of 50� above the Base figures. All figures are considered to be conservative for estimating economic growth in Prior Lake. 5-Year Time Base Plus New Periods �� i � , � ; ' x � � �� Businesses Businesses �� . � � � �1�:. .� r �� _ � ...!�� " Added Added ��. � � �:_ � ��235 � � � �XX �� 10 XXX °` � ��'� �VI �� 2000-10 � � � �`�`�� r 5-Year Avg. � � �" . . �� ` �, � r� ; � �� ;�°` �.�..�., � � ��:t „�,� , m �� , �,� 2011-2015 =,` 25U ! ' � 1�� ? 10 5 ' $20 M"; . � ;'�'1`��I � .., 2016-2020 350 f 1�5 ' 15 8 '$�5 M`. � I� ��-� M �' 2021-2025 300 15�--- 12 6 $221111;� ��! �.$1�. M= 2026-2030 �. ��300 � �� . 150 ; 13 6 � $23 M �� ` $12 NI Total 2011+ � �1,200 '� �� b00 : 50 25 �90 M ' ,� $4� M , �� Assumptions: 1. 2000-10 'Base' information is based on city building permit activity reports for new commercial and industrial construction, not including public facilities and multi-family rental housing. 2. Annual increases in base jobs, businesses and value continue trends from 2000-2010. 3. Estimated increases due to Economic Development (`New') uses the Base times 1.5. 4. Total city/county/school taxes below are estimated using $2.75 per square foot of building space. 5-Year Time $ � 5 �� P��is�� 4 ��To�al,�� City Portion Periods '�"_�'�+�� "�� p ��k�s � �s'�� ! �; 30% � �,��15 � ��a�'��1�� d ,��'�� ,� �'� �` e��e�l �.° ' _ �ni �a�2es $ Estimate :. 2N- '3�` ,. q r � r �'e�. ."^. k f4` �' � � ,''�`c t �'#�"�?' ka � � 2000-10 Avg x ��,� a� �� P � ' � � � �� f �� -g��I��N= � � .��"�� ; °�� $25.5 K 5 Yrs "w�°".�'�,3'��`E�"�C��r�� a. �,;;? ��E.��i ��+' a a��1 w„ �' ek� aaa�l ��.,�-,'�.:� f�! i;�zY �.,%,.i.u.� 4 �«� �;� 5 � �`t � � �� 2011-2015 �;�� K ,��k�ti�� .�� ° 1�0��y��r;' $45.0 K 2016-2020 �„ �� 3�}��,��_ �� 5� ..,:�. �.. '��9��F s; $58.5 K 2021-2025 �� .�� '� �� 0 K �, '� ;�� .��.$0� ��,�, $54.0 K 2026-2030 ��.,��;�..: a�,.,, ��.� ,`. :{� n.yu��'�8b K r 2'_=, $54.0 K Total 2011+ �� .�.�� 4,�� °„��K' �'' ��'.$7�1� �C*' � �."; $211.5 K 2012/2013 Implementation Plan The following actions shall be accomplished during 2012 and 2013 as key initiatives of the EDA. All initiatives can work together to support a business community that is focused on technology and Prior Lake's strengths in entertainment and recreation. The EDA will also be developing specific business plans for each initiative, similar to one for the Technology Village. Page 2 of 9 � 1. Broadband (Communitv Fiber Network). The EDA hired a consultant, Lookout Point Communications, to move this initiative forward. A subcommittee was formed to work with the consultant in order to fully evaluate options and work with local incumbent service providers in order to provide fiber to homes and businesses throughout Prior Lake, including Mystic Lake Casino/Hotel and other tribal property. � Accomplishment: Prior Lake will be more competitive economically by connecting existing/future businesses and residents to high-speed fiber network. • Timeline: The subcommittee will make a recommendation to the EDA, and the EDA will make its recommendation to the City Council by 12/31/12; a decision to move forward fully or partially should be made by the EDA and City Council during its 2013 or 2014 budget deliberations. • Budget: $80,000 was budgeted by the EDA for consulting services in 2012. • Metrics: New business/job growth as a result of fiber availability, including an estimated 10 new businesses and 225 new jobs by 2020. 2. Technolo�v Villa�e (Business Incubatorl and Venture Fair. The EDA formed a subcommittee to explore opportunities in Prior Lake to create and/or support a new business incubator. Options were evaluated in terms of space, location, partnerships and funding. The EDA also initiated, but postponed a Business Venture Fair during 2012 in order to explore angel investing opportunities in Prior Lake and surrounding areas. � Accomplishment: Business incubator space will strengthen Prior Lake as a place to start and grow small software/technology businesses with local investment resources. • Timeline: The subcommittee made its recommendation to the EDA followed by an EDA recommendation to the City Council. The Council approved a$50,000 budget amendment for start-up costs in 2012. A Venture Fair event may occur in late 2012 or in 2013. • Budget: $50,000 estimated city support in the first year of operations as start-up costs; business rents will support operational costs years 2-3 in Phase 1 at City Hall. $10,000 estimated cost for the Venture Fair. • Metrics: New business/job growth in incubator location, including an estimated 10 new businesses and 100 new jobs by 2020. 3. Propertv Supplv and Demand. The EDA has compiled a commercial and industrial land inventory in order to determine the availability of pad-ready sites. The 2011 Maxfield C/I demand analysis report has been used to establish a projected demand for sites based on building size and acreage through 2030. An evaluation will be made to determine necessary steps to ensure that Prior Lake has an adequate supply of pad-ready sites. • Accomplishment: Prior Lake will have more pad-ready commercial and industrial sites starting in 2013 or 2014. � Timeline: The EDA should deliberate actions necessary with corresponding costs that will move more nearly pad-ready sites into pad-ready condition in preparation of making a recommendation to the City Council in 2013. • Budget: Unknown. • Metrics: New business/job growth and tax base increase on available sites, including an estimated 10 new businesses and 300 new jobs by 2020. Page 3 of 9 � 4 Tarseted Geo�raphic Areas for Development Assistance. The EDA will help evaluate ways to achieve development goals in targeted areas of the city. For example, the EDA has begun discussions with property owners in Deerfield Business Park in order to create a stronger partnership. A feasibility report has been completed for Welcome Avenue Industrial Park to identify costs associated with providing water, sewer and streets to all parcels. Large tracts of prime vacant commercial and business park property are ideal for future development along the County Highway 42 corridor, which are currently being farmed rather than owned by developers. Redevelopment opportunities exist in areas such as the Digger's site and downtown Prior Lake. • Accomplishment: The City will consider partnership opportunities within targeted commercial/industrial locations in order to assist and market business opportunities. • Timeline: Complete a process to identify target areas and corresponding tevels of public support by 12/31/12. • Budget: Unknown. • Metrics: New business/job growth and retention, and tax base increase on the improved industrial property, including an estimated 8 new businesses and 275 new jobs by 2020. 5. Citv Codes & Fees. The EDA will complete a comprehensive analysis of city codes and fees in light of making Prior Lake more "business friendly". Examples in this analysis will include design standards in the zoning code and a comparison of permit fees with a rationale nexus, as well as an evaluation of the internal application/permit review process. Staff will develop initial recommendations for EDA consideration, with an initial review by the EDAC. • Accomplishment: Prior Lake will be more business friendly by making changes to city codes, fees and/or processes that help achieve development in Prior Lake. • Timeline: The EDAC will provide preliminary recommendations to the EDA by 12/31/12. • Budget: Unknown. • Metrics: New business/job growth based on a more business friendly codes and the corresponding permit review process, all in support of the business and job figures identified in 1-4 shown above. Page 4 of 9 R Unique Challenges for Prior Lake 1. Historical Investments in Commercial/Industrial Development. The city has invested much of its public resources in supporting a healthy and vibrant residential lake community, which has been very successful. Residential property values are well above average as a result, but the value of commercial/industrial (C/I) property is below average. For example, Prior Lake's percent of C/I market value showed a small increase from 4.36% in 2002 to 4.84% in 2011. This compares to an increase in Savage from 9.85% to 15.07% during that same time period. 2. Direct Access to Maior Principal Arterial Transportation Svstems. Prior Lake's location outside of the metro's major highway system results in limited access to Interstate, US and State Highways. Businesses look elsewhere when highway access is important. Important improvements have occurred recently on County Highway 21 north and east, resulting in much better access to and from Prior Lake. In addition, rail service is absent in Prior Lake, and there is no high-speed fiber network throughout the city to help compensate for its lack of highway and rail infrastructure. 3. Pad-Readv Commercial/Industrial Sites. Prior Lake has a healthy overall supply of property guided for commercial, business park, and industrial development. However, a very small percentage of that designated land can be made ready for development within 30-90 days, which is considered to be pad-ready. Prior Lake has nearly 200 acres of vacant commercial property with only 20 acres being pad-ready (10%). The city has nearly 240 acres of vacant business park/industrial property with only 12 acres being pad-ready (5�0). 4. Stron� Corporate Business Identitv or Focus. Prior Lake is home to the county's largest employer, Mystic Lake Casino and Hotel. However, Prior Lake seems to share Mystic's "home" location with Shakopee based on public perception. No other significant business presence in the Twin Cities calls Prior Lake its home despite the city's unique presence related to recreation and entertainment. There is no high-speed fiber network throughout the city to help attract a corporate office here. 5. Direct Business Connection or Link to the Lakes Prior Lake is known for its fourteen lakes as an extremely important asset for city residents. However, it has very little lake connections for the business community. With one restaurant and few commercial marinas located here, people don't spend much money associated with commerce or business-related ventures located on Prior or Spring Lakes. Summary of Funding Needs and Resources Bud�et Premise: The following key premises are accepted by the EDA for future budgeting: ➢ Support one-half of the Community & Economic Development Director position. ➢ Provide other necessary operational expense support (e.g., legal, communications, training). ➢ Utilize professional services to move certain initiatives forward closer to implementation. ➢ Maintain a reserve balance allowing the EDA to be entrepreneurial in assisting C/I growth. Page 5 of 9 . Economic Development Resources. The EDA has evaluated funding resources that are available and necessary to assist businesses and help it achieve economic development objectives. Example resources include tax increment financing, revolving loan funds, and the EDA budget. The EDA will use current resources shown below to assist businesses, and it will establish a permanent funding source for EDA operations starting in 2013. 2012 EDA Special Revenue Fund Budget $ 167,750 2012 General Fund Economic Development Budget $ 24,000 Business Revolving Loan Fund (Federal) $ 112,500 Business Revolving Loan Fund (State) $ 87,500 TIF District 1-1 Excess Increment $ 200,000 TOTAL $ 591,750 2012 EDA �i Economic Develoqment Budaet (Aparovedl: o Expenses = $191,750 (includes budget amendment) • 0.5 ED Director salary/benefits ($62,700); • Commissioner per diem ($5,000); • Professional services ($80,000) related to fiber feasibility study; • Venture Fair ($10,000); and • Legal/training/misc. ($39,050). o Revenue = $191,750 (includes budget amendment) • $40,000 tax levy + $132,000 reserves + $15,000 grant + $4,750 interest 2013 EDA Budeet (Estimatedl: TOTAL EXPENSES = $278,450 o General Expenses = $151,450 . • 0.5 ED Director salary/benefits ($66,000); • Commissioner per diem ($6,500); • Professional services ($60,000) for pad-ready site analysis, marketing, business events, and targeted development planning and assistance; • Legal/training/misc. ($12,500); • Business incubator operations ($6,450); and o Special Project Expenses = $127,000 • Redevelopment project assistance ($75,000); and • Revolving loan fund assistance ($50,000) & expenses ($2,000). TOTAL REVENUE _ $283,700 o General Revenue = $154,700 •$150,000 EDA tax levy +$2,700 incubator (eases +$2,000 revolving loan administration o Special Project Revenue = $129,000 •$75,000 TIF 1-1 +$50,000 revolving loans +$4,000 loan repayments Page 6 of 9 2014+ Future Proiected EDA Bud�ets: TOTAL EXPENSES = $280,350 o General Expenses = $153,350 • O.S ED Director salary/benefits ($68,000); • Commissioner per diem ($6,500); • Professional services ($60,000) related to pad-ready site analysis, city marketing, business venture event, and targeted development planning and assistance; • Legal/training/misc: ($12,500); • Business incubator operations ($6,350); and o Special Project Expenses = $127,000 • Redevelopment project assistance ($75,000); and • Revolving (oan fund assistance ($50,000) & expenses ($2,000). TOTAL REVENUE _ $292,150 o General Revenue = $159,150 •$150,000 EDA tax levy +$6,150 incubator leases +$2,000 revolving loan administration + $1,000 interest o Special Project Revenue = $133,000 •$75,000 TIF 1-1 +$SO,OOO revolving loans +$8,000 loan repayments Measuring Success (Metrics) The EDA will develop performance measurements that allow continuous reporting on important aspects of its services, programs and processes. The use of inetrics is being utilized for all city operations in Prior Lake beginning ir� 2012, and therefore, metrics will be incorporated into the EDA � Business Plan. To begin this process, the following key economic development objectives are being identified and prioritized one through five: 1. Assist in the creation of desirable employment opportunities for the citizens of Prior Lake; 2. Identify opportunities where the EDA can assist in attracting and developing new businesses within the community; 3. Provide the necessary support mechanisms to retain and aid the expansion of existing businesses; 4. Broaden and diversify Prior Lake's tax base; and 5. Develop a foundation which will establish Prior Lake as a community full of economic opportunity now and well into the future by embracing the motto; Prior Lake: A Wonderful Place to Live, Work and Play for a Lifetime. In order to measure progress toward achieving these objectives, the following metrics will be used for measurement purposes: � Track building permits issued for commercial/industrial projects; determine business and job growth that may tie to each permit. [monthly evaluation] Page 7 of 9 • Track residential permits and remaining lot inventory. [quarteriy evaluation] • Track lease inventory of available commercial/industrial building space; determine business and job growth that may tie to newly leased space. [quarterly evaluation] • Track business membership with the local Chamber of Commerce in order to assess additional business and job growth. [quarterly evaluation] • Track change in commercial/industrial market value using County data [annual evaluation]. • Track the number and acreage of pad-ready commercial/industrial sites [annual evaluation]. • Track zoning permit approval process associated with commercial/industrial projects. [quarterly evaluation] • Track speed of processing development/zoning applications (bi-annual evaluation). Employment With job and employment growth being key factors for economic development success, it is important to understand the current status within Prior Lake. Data from the Metropolitan Council and the Minnesota Department of Employment and Economic Development (DEED) show the following employment and business characteristics for 2011. City staff has estimated the number of total employees that work for the Shakopee Mdewakanton Sioux Community (SMSC). Industry Employees Percent SMSC Est. Construction 352 4.5% 25 Wholesale Trade 112 1.4% Retail Trade 353 4.5� Finance, Insurance and Real Estate 223 2.99�0 Professional and Technical Services 162 2.1% 25 Management, Admin. and Other Services 659 8.4% 25 Accommodation and Food Service 3,533 45.2% 3,250 Arts, Entertainment and Recreation 149 1.9�a 75 Public Administration 919 11.7% Other 1,361 17.4�0 400 TOTAL EMPLOYEES 7,823 100% 3,800 Industry Establishments Percent Construction 93 16.6�0 Trade, Transportation and Utilities 101 18.0� Financial Activities 72 12.990 Professional and Business Services 120 21.4% Education and Health Services 59 10.5�0 Leisure and Hospitality 29 5.2% Other Services 52 9.3% Public Administration 4 0.7% Other 30 5.49�0 TOTAL BUSINESS ESTABLISHMENTS 560 100% Page 8 of 9 � Looking Ahead — 2020 and 2030 2014-2020 Timeframe Goals: 1. Continue the successful implementation of a Technology Village Incubator program in partnership with existing commercial office building owners in Prior lake, and develop a plan to expand this to a larger Technology Village campus. 2. Complete the full build-out of a community-wide (ultra-high-speed) fiber optic network system to all residents and businesses in Prior Lake in cooperation with SMSC; utilize system to support a data center proposal. 3. Work in partnership with major property owners in the CR 42 corridor to begin implementing a plan to have pad-ready commercial and business park property available for development. 4. Work in partnership with property owners in the Deerfield and Welcome Ave. industrial areas to fully develop these areas to their maximum potential. 5. Begin to implement actions necessary to redevelop key opportunity areas as identified in a Redevelopment Plan for Prior Lake. 6. Cooperate with a private developer to attract a data center facility to Prior Lake, which has the advantage of siting this center in a location that is not on a major transportation system. 2021-2030 Timeframe Goals: 1. Continue to implement and expand upon all stages of economic development strategies that were underway from 2014-2025. 2. Successfully attain a strong business presence within the Twin Cities as a community full of smaller high technology that have built their home base around a place with numerous amenities and a desirable lifestyle. 3. Fulfill many aspects of the 2030 Vision Statement for Prior Lake. 4. Complete all supporting infrastructure improvements that results in over 100 acres being developed as commercial and business park uses. • 5. Develop plans for the expansion of commercial and industrial development in the Southwest annexation area of Spring Lake Township. 6. Achieve key redevelopment objectives within the city related to the downtown area and other priority redevelopment sites. Additional Reports: 1. Fiber Optic Network Feasibility Report for Prior Lake, June 2012 2. Business Plan, Technology Village, Prior Lake, 2012 3. 2030 Vision and Strategic Plan, City of Prior Lake, February 21, 2012 4. Report of the SCALE Economic Development Strategy Group, June 20, 2011 5. Economic Landscape of Prior Lake Page 9 of 9 _ ____ � � ctr,r rA�.a�rt i�.�:�, � � � �� TH E SEVEN STRATE�GIC ELEMENTS � , e . � a. � � �� The foilowing seven Strategic Elements �� "�� ,� �^ ' make the Vision possibie. Each includes an ,�-�� `'��.,�� introductory statement de�ning the Element ��` �� folfowed by the goals to be. pursued relative to the Strategic � i Element. The goals reflec# the community's leadership /'� priorities a�nd providg direction for the City and other entities � .��E�� ELEIIAENTS toward Im lementin the Vision. � The goals within each Strategic Element have besn prioritized ECOttomiG � Comt»utllty DeVelOpitrl8�lt ` with respect to its impaat in accomplishing the Vision Strong Financial Management � While all of the Strategic Elements are important, the City Naturd) Res,ourCes � Council identified the top three E{ements as Economic and Community Assets Community Development, Strong Flnanclal Management �Qfe dnd Healtlty Community ± and Natural Resources. Resources will be focused on these T�pnsportat�On 1 I Strategic Elements. Communicdtton 3 i j Included w'ith each StrategicElement is an Illustration showing ' part of an Implications Wheel� which helped deflne the �� goals of that Element. The Wheeis were used in exploring �.>��" "�. � the impiications and impacts of various positive or negative *��'� '� ' characteristics or actions that may or may not take place. � � � � � j � �'�� '� �� , ,�� ,' zt � , . . ` .. � ,.. .: �... �' . . � . . � ,... Z.6 . .� Mw�saYMbwM IVAO�n�Ulnl aenn�iM� � � n��'� � �� f� 1�� v � � ;� ,Z!/ � The Prior Lake Eccmotnic Developmsnt AuthaNty's prlmery nsponslbiltty is to ` �,, � provide shpps and servicos to resideM� ptovld� �mplo�ment opportuni�es for �, I r�sidents and to ensure a atron�, diversMsd tax base. Pdor Lako encawra�es � .,. v�, high quelity residantial and businsss developm�nt. �,, �' : , iOAL: Develop a pfan to s.' � «`-`" provide a commun(�ty-wide �� , � � � �'`� �c�., � �� flbcr optic ��work by � :� ' .aba. " � � Dec. 31, 2Q12. � .,�a � ` , ? - AOALe Prepare and evaluate � � � pians with private parties to r � ! estabiish a technology viliage/incubator by Dec. 31, 2012. � i 'tl;., �,;;. � �� ' AOAI.: Develop plansfor a data center with fiber optic access by > June 30, 2012. � `� QOAL: Develop a redevelopment plan, including priorities, � <'� � ' tim�lines and incentivesforthe downtown area and for under- f ``'�— utilized commercial properties in the City by Sept. 30, 2012. E QOAL• Review the existing City Code and Zoning Ordinance provisions to assess their impact on achieving o� p ; economic development objectives Reeommend modification of those which are inconsistent with City t j�,'* y objectives by June 30, 2012. Repeat every five years. [ c� M , ,, ��NNESO"�P Rage 6 , _�