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REQUEST FOR ECONOMIC DEVELOPMENT AUTHORITY ACTION <br /> Date: 06/21/2016 <br /> Item No.: 7.b <br />Department Approval Executive Director Approval <br />Item Description: Receive Update on Priorities Identified by the Economic Development <br />Authority(EDA) and Discuss Staff/Budget Capacity for 2016 and 2017 <br />B <br />ACKGROUND <br />1 <br />At the May 25 Economic Development Authority (EDA) meeting, Janna King, the City’s Economic <br />2 <br />Development Consultant, presented information about how the City could expand its Economic <br />3 <br />Development initiatives. Ms. King organized the initiatives into 3 categories: Current, A Step-Up, <br />4 <br />and High Performing and asked the EDA to prioritize the initiatives using a High, Medium, and Low <br />5 <br />ranking structure. Ms. King then totaled the rankings to determine how best to focus energy in 2016 <br />6 <br />and in 2017 (Attachment A). In reviewing the rankings, three themes emerged: <br />7 <br />Policy Development <br />8 <br />Proactive Economic Development (e.g., visioning and engagement) <br />9 <br />Acquisition/Redevelopment Support <br />. <br />10 <br />Initiatives have been separated as 2016 Priorities and 2017 Priorities. The Community Development <br />11 <br />Department has six months to achieve the priorities agreed upon for 2016, and the intent of this <br />12 <br />separation was to be realistic with what can be accomplished from an aspect of staff time and <br />13 <br />budget. Priorities in 2016 identified as Medium Priorities may need to be deferred until 2017 to <br />14 <br />allow for enough time to appropriately address the 2016 High Priorities. <br />15 <br />16 <br />Economic Development Priorities for 2016 and Staff Capacity <br />17 <br />Resident Oriented/Neighborhood Commercial: <br />18 <br />Acquisition/Redevelopment Support <br />Targeted acquisition & redevelopment support (24) - <br />19 <br />Proactive <br />Engage owners and residents (starting in SE Roseville) (23) - <br />20 <br />Proactive <br />Understand stakeholder goals; create revitalization vision (21) - <br />21 <br />Additional Research to support development strategy and comprehensive plan <br />22 <br />Proactive <br />Dialogue with brokers, developers, and owners (23) – <br />23 <br />Build organizational capacity and clearly defined partner relationships to support economic <br />24 <br />development <br />25 <br />Clarify role/relationships and collaborate with partner organizations (e.g., Greater MSP, <br />26 <br />- Proactive <br />county, chambers workforce orgs & others) (23) <br />27 <br />Page 1 of 6 <br /> <br />