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Home My WebLink About2011-11-08 PACKET 07.(:= CITY OF COTTAGE GROVE MINNESOTA TO: Economic Development Authority FROM: Danette Parr, Economic Development Director DATE: November 1, 2011 RE: Economic Development Work Plan In continuation of the of the EDA discussions related to the City Council Objectives, staff would like to review and receive feedback from the EDA on the fourth of the five Objectives (listed below): City Council Development Goal (C /1): *Place emphasis on quality retail, restaurant, and industrial recruitment and retention. Development enhancements within all commercial districts include the use of development controls, architectural standards and high quality site features Objectives: The City Council has adopted five C/I objectives in achieving the primary goal. Each of these objectives is noted below (1 -5) followed by Targets and Tasks provided or performed by staff in accomplishment of the objective. Some tasks would be considered complete with compliance or monitoring the only requirement. Others are ongoing or in process. The remaining is either in an interim step or requires input from Council in order to complete the task. (Objectives 1 -3 were previously discussed and are not listed below). 4. Update business attraction /retention marketing plan and strategy Targets and Tasks: a. Business Retention 1. Site Visits 2. C/I Neighborhood Meetings 3. Recognition of Milestones b. Business Attraction and Recruitment 1. Marketing a. Post Card campaign b. www.growthpartnerscq com c. EDA Golf Outing d. Relationship Building Economic Development Authority Work Plan Page 2 of 2 2. Social Media 3. Targeted Industries and Sectors a. Business Park Land Transactions b. Commercial Redevelopment c. Focused retail end user targets 4. Cost Segregation value added service 5. Land Banking 6. TIF / Trust Fund Investments 7. DEED Grant Funding c. Business Start -Up 1. Incubator 2. Micro - lending a. Bank Community Investment Leveraging Staff would like any feedback the EDA may want to share related to the above objective.