Date: December 14, 2017
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Chris Heineman, Community Development Director
Title
EDA 2018-2020 Work Plan Review
Body
Summary and Action Requested:
Review Draft Work Plan for EDA and provide direction to staff.
Background:
The EDA held a Strategic Planning retreat on August 24 & 25, 2017. Over the course of the two-day session facilitated by Craig Rapp, EDA Board members reviewed the local economic environment, identified challenges facing the community, established strategic priorities and developed a list of desired outcomes of the City of Northfield.
In the months following the retreat, staff has utilized the strategic priorities established by the EDA to establish a list of strategic initiatives and action steps to address the EDA's goals. The strategic initiatives and corresponding actions steps are incorporated into the EDA Work Plan document for 2018 - 2020 (see attached).
Also included in the attached Work Plan are several target metrics related to the strategic priorities. These metrics were established by examining Northfield tax capacity data for the past ten years. For example, a 10% increase in commercial net tax capacity and a 10% increase in the industrial net tax capacity by 2020 has been included as a target under the strategic priority of business expansion. Tax Capacity values were established by reviewing historical tax data for the past ten years.
The EDA Board review the initial draft at the November 16 EDA Board meeting. EDA Board members agreed to provide staff with additional feedback no later than December 1 in order for staff to incorporate those changes into the draft Work Plan document. A detailed listing of all comments received is also included as an attachment. The highlighted areas in the 2018-2020 Work Plan indicate new language that was added based on comments received.
No action is required at this ...
Click here for full text