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.

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.

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
       •   Promoting Lakeville as a good place to live, work and do business

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


 ♦ 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


        •   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
        •   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

Significant Issue: Managing Development


 ♦ 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


        •   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
        •   The development of the remainder of Heritage Commons will be unique
            and distinctive and result in community identity

Significant Issue: Affordable Housing


 ♦ 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


        •   Approval of a goal and implementation strategy for the attainment of
            affordable housing for persons of all life cycles

Significant Issue: Downtown Plan


 ♦ Facilitate an effort to create a long-term plan to promote downtown economic
    viability while retaining its unique and historical characteristics


        •   Approval of a long-range plan and implementation strategies for the
            preservation and expansion of the downtown

Significant Issue: Partnerships


 ♦ 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


        •   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

Significant Issue: Public Communication


 ♦ 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


        •   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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