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Finance and Revenue Goal 42 Roseville has a growing, diverse, and table revenue base 2 62 263 Positive Tax Return As earlier discussed as part of the housing discussion, Staff recommends that a 2 64 fiscal impact study be conducted in order to truly understand the cost of new commercial development 265 to City services. 266 Whatpolicies are supportive in fostering these wants and needs? Whatpolicies are counterproductive 2 �r 7 in fostering these wants and needs? Whatpolicies are missing in fostering these wants and needs? 268 Although, it may be too early to discuss what policies support, are counterproductive, or missing in 269 assisting the City to attract development that is desirable to the City, staff would suggest that the City 2 7 ('-) Council have a discussion on their perceptions from the information we do know. This discussion 2 7 1 should be revisited once the City has additional information regarding market needs and the fiscal 272 impact of development. 2 7 3 HOW IC s ROSEVILLE GET THERE? 274 An exact roadmap on how we "get there"' will really be dependent on what the information shows, so it 2 7 �` may be somewhat premature to define it exactly. The full plan on implementing an economic 2 7 6 development initiative will need have more information before an effective blueprint can be created. 2 ��7 ��7 Nevertheless,, staff believes the City Council should have some general discussion on the components 2 7,,,�3', that should be considered as part of the effort/plan. A brief summary of each component is below. 2 79 Resources — The City will need to appropriate the necessary resources to ensure that the economic 2, development efforts are effective. These may include funds for marketing to new and existing 'i businesses,, monetary incentives to locate in Roseville, loan programs, land purchase, and training. 282 Staffing — The City most likely will need additional staffing assistance for any economic development. 2, 3 The costs will be dependent on what type of staff is needed and will also include any supplies and 2, 4 equipment needed for the staff 2,',i �` Policy Boards — It is likely that the City Council may want to consider either expanding or creating 2, 6 policy boards to assist in the implementation of the City's economic development efforts. There are 2,',i 7 several options to consider including expanding the role of the existing HRA or the existing Roseville 2,',i,',i Port Authority, creating a new Economic Development Authority, which has separate levy authority. 2,',i 9 Below is brief description of the types of policy boards the City could have.- 290 Economic Development Commission.- , A board used to advise a City Council, appointed by the 291 Mayor and/or City Council. It has limited or no decision making authority and is used as a 292 sounding board or as a first point of contact for the City Council on development projects. The 293 commission is used to draft strateaies andDOliCies for ratification and implementation of local 294 plans on a volunteer basis. 295 Housing and Redevelopment .uthority. An HRA is a public corporation with power to 296 undertake certain types of housing and redevelopment or renewal activities. While state 297 legislation convevs authority for housing and redevelODment to each City it is un to the Citv 298 Council to formallv establish and HRA- An HRA can undertake certain tvDesOf manning and 299 redevelODment activities on its own with Citv Council aDDroval- 300 Port Autho A Port Authority is established to promote the general welfare of the City's port 30 1 district increase the volume of commerce in the port, and provide facilities for �p handling, 302 storage, and shipment of freight. The Port Authority actively develops commerce within the 303 City and can enable business location and expansion. The powers of a Port Authority are more Page 8 of 10