ECONOMIC DEVELOPMENT COMMISSION
STRATEGIC PLAN FOR ECONOMIC DEVELOPMENT
2005-2007
EXECUTIVE SUMMARY
December 20, 2004
2005-2007 Strategic Plan for Economic Development
The Economic Development Commission has a history of planning for the economic future of Lakeville dating back to the first Strategic Plan completed in 1995. The EDC continues to undertake a Strategic Planning process every two to three years. This process includes reviewing the City’s progress on the previous plan’s goals, examining the current issues facing the community, and drafting a new Strategic Work Plan. Many elected and appointed officials and staff committed their time, talent and energy to developing this new Strategic Plan. The 2005-2007 Strategic Plan for Economic Development continues that tradition of thoughtful and organized planning for the economic future of Lakeville.
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Vision, Mission, and Organizational Definition
The 2005-2007 Strategic Plan for Economic Development vision listed below is intended to guide the work of the EDC and to be communicated to the public:
2005-2007 Strategic Plan Vision
Lakeville is a unique and attractive community where people and families want to live, learn, work and enjoy for their entire lives and where businesses choose to locate due to an attractive business climate.
A new mission statement was developed for the 2005-2007 Strategic Plan for Economic Development, which reflects the Commission’s charge to be proactive and to achieve balance to the business and residential community.
2005-2007 Strategic Plan Mission
The Economic Development Commission is committed to identifying and managing innovative economic growth, which enhances the quality of life and provides balance to the business and residential community.
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The 2005-2007 Strategic Plan for Economic Development will be the first plan to include an organizational definition. The organizational definition is a statement of who the members are and what the organization does.
2005-2007 Strategic Plan Organizational Definition
The EDC is an advisory group of business people that promotes and responds to community and economic growth by: • • • • • Serving as policy advisors to Council and staff about community and economic development issues Anticipating internal and external changes in opportunities, challenges and trends that may affect development Communicating with the Council, residents and stakeholders while listening and reacting to the opinions of interested parties Building relationships and facilitating cooperation among stakeholders Promoting Lakeville as a good place to live, work and do business
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2005-2007 Strategic Plan Goals and Outcomes
A Significant Issues Questionnaire was completed by the Mayor, City Council and EDC members in July 2004. The responses were consolidated into six Significant Issues with corresponding goals and desired outcomes to address in the 2005-2007 Strategic Plan for Economic Development. Listed below are the significant issues, goals and outcomes of the 2005-2007 Strategic Plan for Economic Development.
Significant Issue: Transportation Goals
♦ Advocate for the implementation of a process to develop East-West Corridors ♦ Assure timely completion of County Road 50-60-70 interchanges ♦ Monitor and evaluate efforts to develop a viable transit plan for Lakeville
♦ Advocate on behalf of business interests with airport and rail planners Outcomes • • •
Secure the necessary remaining funding for CSAH 70 Interchange Study and advocate for the designation of CSAH 70 as a Principal Arterial including the development of an access management plan Assure that development along East-West Corridors B, C, D provides for the development of these corridors and determine the cost of needed roads and what development will be accommodated with or without the needed funding
• • •
Completion of a Transit Plan for Lakeville Development of a new or renovated fixed-base operator facility at Airlake Airport to better serve corporate aircraft Expansion of the number of properties in the Industrial Park with rail access
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Significant Issue: Managing Development Goals
♦ Monitor development and advise the Council to ensure a balanced tax base and a manageable rate of growth
♦ Advocate with the Council and stakeholders for desired, diverse and distinctive
commercial development
Outcomes • •
Completion and approval of a study to that determines what a balanced tax base and corresponding land use plan is for the community Completion and approval of a study to determine the minimum market value of a residential housing unit that generates sufficient City property taxes to pay for the City services required by that unit
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The development of the remainder of Heritage Commons will be unique and distinctive and result in community identity
Significant Issue: Affordable Housing Goals
♦ Work with the Council to establish an affordable housing goal for Lakeville
♦ Help develop a process with other stakeholders to begin to meet the Council’s
affordable housing goal
Outcomes •
Approval of a goal and implementation strategy for the attainment of affordable housing for persons of all life cycles
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Significant Issue: Downtown Plan Goals
♦ Facilitate an effort to create a long-term plan to promote downtown economic viability while retaining its unique and historical characteristics
Outcomes •
Approval of a long-range plan and implementation strategies for the preservation and expansion of the downtown
Significant Issue: Partnerships Goals
♦ Improve communication and coordination with other units of government on important community and economic development issues facing Lakeville
♦ Create partnerships with Lakeville Chamber of Commerce, DLBA and other
business and development associations on mutual development objectives
Outcomes • • • •
Determine at least one project or issue to partner or work on with ISD 194 and Dakota County Formally celebrate successful development partnerships Approval of the plan for preservation and expansion of the downtown in conjunction with the Downtown Lakeville Business Association Implementation of joint community marketing efforts with the Chamber of Commerce
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Significant Issue: Public Communication Goals
♦ Improve the awareness and support of Lakeville residents of the importance of C/I to the tax base and quality of life ♦ Encourage greater citizen input into community and economic development decisions
Outcomes • •
Continuation and refinement of the Spotlight on Business Program Creation and implementation of a program that continues to communicate the benefits of C/I development to the community
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