EDA Meeting Date: June 24, 2024
To: Members of the Economic Development Authority
From: Ben Martig, City Administrator
Jake Reilly, Community Development Director
Nate Carlson, Economic Development Coordinator
David Bennett, Director of Public Works/City Engineer
Title
EDA Action Related to Facilitating Orderly Growth and Development for Economic Vitality.
Body
Action Requested:
Consider policy implications related to growing the City's commercial/industrial tax base and provide recommendation to the City Council through a motion or resolution.
Summary Report:
Growing the City's commercial/industrial tax base by focusing on new industrial growth is a stated City priority, reflected in first the Economic Development Plan (2006), the City's adopted Comprehensive Plan (2008), and in the Council's Strategic Plan documents beginning in 2018.
Background
The 2006 Economic Development Plan describes three priority strategies for the community:
* Diversify the economic base.
* Maintain Northfield's sense of place.
* Attract and retain talent.
In the 2008 Comprehensive Plan the following policies apply to land development, economic development and sustainability concerns associated with development in the NW area:
* Community Identity:
o CI 1.4 Ensure that all development, redevelopment and expansion be compatible with the desirable features of the natural and man-made environment.
* Land Use
o LU 1.6 Annually monitor the land use of residential as compared to commercial and industrial land uses as shown in Table 4.1 and Map 4.1, as a means to accomplish the overall planning objectives of the city.
o LU 1.7 - The City Council should determine, through a process involving the Planning Commission, Economic Development Authority, and citizens, what would constitute an acceptable balance between residential and commercial/industrial uses. This balance could be measured by analyzing tax revenues, jobs in Northfield versus commuters, and other factor...
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