HomeMy WebLinkAbout7C - Draft Work Plan for 2005
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
CITY EDA ANNUAL MEETING
CITY OF PRIOR LAKE FIRE STATION
5:30 PM
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
January 18, 2005
7C
JOHN SULLIVAN, COMMUNITY DEVELOPMENT DIRECTOR
DRAFT COMMUNITY DEVELOPMENT WORK PLAN FOR 2005
DISCUSSION:
Historv: The Community Development Director has been working on
several economic and community development process over the past
year. Regular updates have been provided to the City Manager. Staff
felt it may be helpful for both the City/EDA and staff to have a 2005
Work Plan in place as a means to measure performance and track
results. Development of a Work Plan also allows for a more effective
budget and capital improvement planning process. It also ensures
transparency with the public in regards to the City/EDA's economic
development priorities and objectives.
Prior Lake EDA
2005 Work Plan
Activity
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www.cityofpriorlake.com
Phone 952.447.4230 / Fax 952.447.4245
5. Jeffers Pond; assist developer with 24 acre commercial portion
6. Shepards Path; assist developer with commercial portion
7. Obtain ROW remnant parcels from County left over from Village Lake Drive on TH 13 behind
McDonalds and prepare/market for sale to developers for C-4 use.
8. IV EX building at 4146 Colorado Street
9. Administration, coordination, and closeout of Downtown Fayade Improvement Program
10. Find sites for a restaurant, bar and develop mixed use buildings (2) in the Downtown area
II. Assist with redevelopment proj ect for the Waters Edge mixed use development
Marketin2 I
1. Make sure Prior Lake sites and buildings are on State DEED MnPro Web Site, Chamber of
Commerce link.
2. Make sure industrial sites are listed on City Web Page
3. Update McComb Report with the Jeffers Pond data, place on web page, and update summary report
4. Write economic development articles for City Wavelength and Chamber of Commerce newsletters
5. Address broker commissions on city-owned property sales.
Communication I
1. Prepare press releases describing benefits of new industrial park, announcing proj ects, funding
sources and construction timelines.
2. Announce Deerfield Industrial Park in Twin Cities business and real estate trade journals
3. Announce development opportunities in Prior Lake Downtown to press and developers
4. Build stronger communication with Scott County and Scott County Economic Development
Coalition, Great River Energy, and Scott County HRA for industrial park and other development
opportunities in Prior Lake.
Financin2and. Incentives I
1. Monitor and revise, if necessary, in-place Business Subsidy Policy and TIF Policies, Subsidy
Agreements and performance measures for the use of TIF in the Deerfield Industrial Park
2. Develop materials that clearly communicate policies and process for industrial land transactions in
Deerfield Industrial Park
3. Serve on Interim Board of Twin Cities Community Capital Fund
4. Administer existing and proposed TIF District requests and records
5. Assume fiduciary responsibility for City assets/usage for Community development purposes
Business. RetentionlItxpansion I
1. Invite commercial real estate brokers, industrial developers, and builders to a meeting/catered lunch
describing the new Deerfield Industrial Park. Present information on businesses subsidy policies, bank
financing programs, TIF policies, SBA financing programs, utility company financing programs, Tax
Abatement and other incentives.
2. Begin visitation program for existing industry to reach all manufacturers and businesses every 12-18
months
3. Assist existing businesses with expansions
4. Recognize the expansions of existing companies with ground-breaking, grand-opening or other forms
of recognition. Coordinate local press and media.
Activity
On~anizational I
1. Participate in EDA meetings; prepare monthly agendas, minutes and assist with financial reports.
2. Update Work Plan and Budget for 2006
3. Develop evaluation process for measuring progress relative to 2005 Work Plan and measuring
results.
4. Develop CIP items for topics that impact economic development
5. Provide monthly progress reports to City Manager and EDA/Council
6. Serve on AMM Board for Housing and Economic Development Legislative Committee in 2005
Other RealEstate with Development Interest I
1. County 18/42 area commercial/housing PUD areas
2. Facilitate development of Park Nicollet commercial lots (2) along with City-owned site along Park
Nicollet Avenue and Franklin Trail
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Conclusion: It is unlikely that virtually every one of these objectives
will be accomplished in 2005. Instead, this Work Plan should be
considered as a "menu" for our 2005 community development efforts.
Accordingly, the EDA may wish to ask questions and provide input
regarding the proposed 2005 Work Plan and/or additional items not
specifically listed or addressed.
Alternatives:
1. Review the City/EDA 2005 Work Plan and
provide feedback to staff for the next EDA
meeting to consider formal adoption of the Plan.
2. Adopt Plan as written with any modifications.
Recommendation:
1 . Alternative #1 .
Attachments:
REVIEWED BY:
None
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