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HomeMy WebLinkAbout03.14.11 EDA Packet City of Farmington 430 Third Street Farmington, MN 55024 Mission Statement Through teamwork and cooperation, the City of Farmington provides quality services that preserve our proud past and foster a promisingfuture. AGENDA EDA WORKSHOP March 14,2011 6:30 P.M. CITY COUNCIL CHAMBERS 1. Call to Order 2. Approve Agenda 3. EDA Budget Discussion - EDA Deficit - EDA Levy 4. EDA Strategic Plan - Areas of Opportunity 5. Roundtable 6. Adjourn PUBLIC INFORMATION STATEMENT Council workshops are conducted as an informal work session, all discussions shall be consideredfact-:finding, hypothetical and unofficial critical thinking exercises, which do not reflect an official public position. Council work session outcomes should not be construed by the attending public and/or reporting media as the articulation of aformal City policy position. Only official Council action normally taken at a regularly scheduled Council meeting should be considered as aformal expression of the City's position on any given matter. City of Farmington 430 Third Street Farmington, Minnesota 651.280.6800 . Fax 651.280.6899 www.ci.farmington.mn.us TO: EDA Members, Peter Herlofsky, City Administrator FROM: Teresa Walters, Finance Director SUBJECT: TIF Reports DATE: March 14,2011 BACKGROUND INFORMATION lPREVIOUSL Y PROVIDED IN A MEMO DATED SEPTEMBER 27.2010) On July 6,2010, the TIF reports were completed by the finance director. All of the TIF districts were co-mingled into one fund (Fund 4700). Although the revenues and expenditures for each TIF district could be determined, the cash amount submitted to the State in prior years could not be balanced to the cash on hand. The HRA fund had a negative cash balance at the end of 2009; however, each TIF district was reported to the State (in past years) with positive cash balances. The reports did not match our fmancial system; therefore, we did not feel comfortable submitting them with prior year's information or plugging numbers to make them match the system. We decided to hire Shelly Eldridge from Ehlers to complete the reports and balance them to our system. On August 2, 2010 (The day the TIF reports were due to the State), Shelly completed the TIF reports and came back with some good news: all of the TIF reports had positive balances, although not the balances previously submitted to the State. Since the TIF reports were comingled with the HRA fund, the cash that was supposed to be in the TIF funds was used by the HRA. According to the Office of the State Auditor, commingling ofTIF funds is a violation ofMino. Stat. ~ 469.177, subd. 5. We need to segregate the TIF funds from the HRA fund. This means that when the positive balances are off-set by the negative balance in this fund, the HRA fund will show its true balance which is approximately a negative $533,732. Shelly found a large portion of this negative, is a result of the library ($253,892.46). After many hours of research and several adjustments to prior year TIF reports, Shelly determined the distribution between the HRA and the other TIF funds to be the following: FUND BALANCE 2009 2010 Ending Beginning balance Balance adiusted HRA( 4700) Downtown Redev Proj (4701) Beon Dev Dist 13 BL (4716) Redev Dist 2 (City Ctr) (4705) TIF 13 Eagles (4717) Total $(334,265) $ (533,732) 84,989 4,658 106,899 2,921 $(334,265) $ (334,265) UPDATE: In order to obtain the answer to the question regarding how the HRA's fund balance grew to $533,732 we would have to go back prior to 2000. Our system only goes back as far as 2000. In 2000, the HRA's cash balance was ($490,603). This also included TIF Funds, so the actual HRA portion of the balance was higher. There are no significant HRA expenditures since 2000. In 2010, the TIF funds were moved out of the HRA fund and in to their own separate funds. In order to close the HRA fund, the EDA transferred $533,732 to the HRA fund. The EDA started the 2010 year with a positive fund balance of$325,180. The transactions are shown below: Revenues $ 42,810 Expenditures (76,499) Transfer to HRA (533,732) Change if Fund Balance (567,421) Beginning Fund Balance 325,180 Ending Fund Balance $ (242,241) ADDRESSING THE DEFICIT: The HRA balance is estimated to be negative $533,732. It can be reduced by the following: EDA (projected 2010 balance) Close TIP Economic Dev Dist 13 Sale of property (old liquor store) $ (242,241) 3,759 100,000 $ (138,482) Balance We are looking at a long range plan to reduce the deficit. This may include an EDA levy. An EDA levy can be used for staff time, projects, research, training, studies, purchase ofland, and basically any expense an EDA has the authority to make. A $50,000 increase in the levy will have the following effect on the taxpayer. Home Value 124,000 162,000 199,800 240,800 315,700 Estimated Annual Tax Increase 3.50 4.80 6.10 7.50 10.20 Respectfully submitted, Teresa Walters Finance Director City of Farmington 430 Third Street Farmington, Minnesota 651.280.6800 . Fax 651.280.6899 www.ci.fannington.mn.us TO: EDA Members FROM: Lee Smick, City Planner AICP, CNU SUBJECT: Economic Development Strategic Plan DATE: March 14,2011 INTRODUCTION The inforIlJ.ation provided in this packet contains a compilation of strategic planning efforts since 2007. It is important to review past efforts so that current efforts are not duplicated. The reason for this information is to know where we've been in the past and where we're going in the future. DISCUSSION Past meeting outcomes and documents concerning the strategic plan include the following list: 1. January 22, 2007 - ICMA Peer Team/Craig Rapp (Ex. A) 2. June 2007 - Richard Fursman and Jim Nom1an (also included in 2008 Comprehensive Plan Update) (Ex. A) 3. August 24, 2008 - Farmington Economic Growth Committee/EDA (Ex. A) 4. June I, 2009 - Economic Development Chapter in the 2030 Comprehensive Plan (Ex. B) 5. August 7,2009 - City Council Strategic Planning & Goal Setting workshop (Ex. A) 6. June 28,2010 - First Impressions Survey (Ex. C) 7. 2011- GROW Farmington (Ex. D) These past efforts will provide a strong outline for the Economic Development Strategic Plan. The Strategic Plan will provide a direction to achieve goals, prioritize goals and objectives, be flexible enough to adapt to economic changes, be measurable, and guide the EDA and staff. In May of 2010, staff compiled a list of 6 categories known as "Areas of Opportunities" (Ex. E) that staff would like to continue to propose to the EDA for its strategic planning efforts. Under each category are strategies that staff would like to discuss with theEDA to determine if they are favorable strategies to pursue. The "red" text higWights what staff is currently accomplishing or has completed for economic development and the "blue" text is what staff is proposing for the EDA to consider. Staff would like to discuss the 6 categories and ask the EDA to comment and offer suggestions for strategies under each category. ACTION REOUlRED Staff will present the 6 categories known as "areas of opportunities" and the strategies shown on Exhibit E as a focus for the March 14,2011 EDA Workshop. Respectfully submitt , ~ Lee Smick, City Planner AICP, CNU ECONOMIC DEVELOPMENT STRATEGIC PLAN The Farmington EDA's mission is to improve the economic vitality of the city of Farmington and to enhance the overall quality of life by creating partnerships, fostering employment opportunities, promoting workforce housing and by expanding the tax base through development and redevelopment. 1. Resources available to support Economic Development 2. Business Development A. Business retention/expansion program B. Business recruitment 3. Business Friendly 4. Create Marketing program 5. Technology 6. Update Market Study Economic Development Strategic Public Policy Funding and Financing Prioritizing, Assigning, and Phasing GROW Farmington Implementation E/_A City of Farmington 430 Third Street Farmington, Minnesota 651.280.6800 . Fax 651.280.6899 www.ci.farmington.mn.us TO: EDA Members FROM: Lee Smick, City Planner AICP, CNU-Accredited SUBJECT: Strategic Planning & Goal Setting Workshop DATE: May 24,2010 INTRODUCTION At the January 25, 2010 EDA meeting, the EDA requested that staff consolidate planning information that has been prepared in the past 3 years and provide "areas of opportunities to focus on" for the Strategic Planning & Goal Setting Workshop. DISCUSSION In the past 3 years, a number of EDA members have given suggestions on 4 separate occasions concerning the City's strategies and goals for economic development. The following is a list of dates and outcomes for each meeting that has occurred: Januarv 22. 2007 - ICMA Peer Team/Crail!: RaDD DrODoses 6 stratemes: 6 Strategies Progress! Com leted X I. Create an Economic Development Framework - What are we going to do and how are we oin to mana e this ro 'ect II. Understand Farmington's Market - Determining our niche, the relevance of the McComb Stu ,the bounda 0 downtown, and develo a marketin Ian III. Coordinate Comprehensive Plan with Economic Development Strategy - Coordinate ste s in the com Ian and economic develo ment Ian IV. Create adequate staffmg and technical capacity to support economic develo ment activities - Recommend training and sta m V. Unification of all groups behind the Economic Development Strategy - Work with EGC, FDBA, CC, PC, etc. VI. Ensure necessary fmancial resources to support economic development activities - Determine funding sources X X X X X June 2007 - Richard Fursman and Jim Norman orooose 3 stratelrles (also included in 2008 Comorehensive Plan Uodate): 3 Strategies Progress! Comoleted 1. Downtown Development and Redevelopment X 2. Industrial Development X 3. Commercial Development outside of the Downtown area X AUlrust 24. 2008 - Farminlrton Economic Growth CommitteelEDA oroooses 3 stratelrles: 3 Strategies Progress! Comoleted 1. Technology (WiFi, broadband, phones etc.) X 2. Vennillion River Crossing promotion and marketing 3. Privately Developed Industrial Park AUlrust 7. 2009 - Citv Council Stratelrlc Plannine: & Goal Settine: workshoo oroooses 5 stratelrles for encourae:ine: economic develooment: 5 Strategies Progress! Comoleted 1. Maintain and/or expand recreational opportunities X 2. Focus on growing business development X 3. Provide a collaborative, respectful environment so developers etc., will want to X work with us 4. Invite successes to Council and celebrate successes X 5. Explore fiber as a competitive advantage - Measurements include # of new X businesses, marketing piece in place, messaging successes, increased jobs, and increased revenue As requested by the EDA, staff has consolidated the information above into 6 categories known as "areas of opportunities" shown on Exhibit A. Items 1-6 may have the potential to become the framework for the future Economic Development Strategy Plan. Under each category are "talking points" that staff would like to discuss with the EDA to determine if you are in favor of them. These points may become potential action steps under each category. The "red" text highlights what staff is currently accomplishing for economic development and the "blue" text is what staff is proposing for the EDA to consider. Staff would like to discuss the 6 categories and ask the EDA to comment and offer suggestions for action steps under each category. For instance, the promotion and development of VRC would be steps under the strategies of Business Development, Business Friendly, Marketing, and Resources for economic development. Collaborating with the EGC and/or the Farmington Downtown Business Association would be a step under the Marketing and Resources category. I ACTION REQUIRED Staff will present the 6 categories known as "areas of opportunities" and the ''talking points" shown on Exhibit A as a focus for the Strategic Planning & Goal Setting Workshop. ~P~IY~ Lee Smick, City Planner AICP, CNU-:Accredited To: Peter Herlofsky From: Craig R. Rapp RE: SWOT summary Date: December 12,2006 Peter, the following is a summary of the facilitated process that took place on November 27th with the City Council, EDA, staff and the Peer Assistance group at Round Bank. In addition to recounting the information generated during the SWOT process, I have identified some preliminary connections between various strengths and opportunities, as well as weaknesses and threats. These connections are meant to be "first cut" look at ways of focusing our future action. There will be more analysis provided, and we will supplement this information with the comments gathered in the interview process. The combination of SWOT information and interview comments will be forwarded to you in the near future. - The purpose of providing you this information now is to enable everyone to clearly see the current economic development environment that exists in Farmington, and to give folks time to absorb new ideas and concepts. During December, the consultant team will be conducting additional research on best practices, analyzing data and preparing for a fmal meeting with the City Council and EDA in January. The goal of January's meeting will be to create a plan for success and focused action steps to carry the City forward. We will be providing interim reading materials and background information so that the meeting in January and the final report will result in a successful program launch. Strengths 1. Professional Staff 2. Traditional downtown 3. Involved City Council 4. In-place functioning and involved EDA 5. Land available for development and redevelopment 6. Vermillion River - quality trout stream in middle of city 7. City supports growth 8. Active business community 9. Located in the 'path' of metropolitan development 10. Educated population 11. Quality school district 12. Low crime 13. Quality public services Opportunities 1. Good fiber optic cable availability- potential for fiber-to-the-premises 2. Because Farmington is largely unknown- chance to create or defme an image 3. Learn and leverage the knowledge of other cities 4. City has time to get organized and focused - with lots of people currently engaged 5. Economy is getting better 6. Opportunity to compete globally 7. Recruitment - going from zero to something focused 8. Marketing the city's "small town" feel 9. Ability to coordinate the Comprehensive Plan with an Economic Development Plan a. Comprehensive Plan first, Economic Development Plan second 10. Rail service - marketing opportunity to users that need rail 11. Trout stream - market the image and potential to draw people 12. Improve relationships with the townships 13. Opportunities to "network" - develop and improve relationships with County, State and developers 14. Location - market the fact that Farmington is close, but a little off the beaten path 15. Pull three groups together - City Council, EDA, Economic Growth Committee 16. Engagement of the business community 17. High School - infrastructure extensions 18. Follow models of other successful cities - Naperville example - riverwalk Strengths/Opportunities - Possible connections 1. Strengths - Involved City Council; in-place functioning EDA Opportunities: . Learn and leverage knowledge from other cities . Ability to coordinate Comprehensive Plan with Economic Development Plan . Improve relationships with townships . Opportunities to "network" - develop and improve relationships with County, State and developers . Pull three groups together - City Council, EDA, Economic Growth Committee . Engagement of the business community 2. Strengths - Traditional downtown; land available for development and redevelopment Opportunities: . Marketing the city's "small town" feel . Location - the fact that Farmington is close, but a little off the beaten path 3. Strengths - City supports growth; active business community; located in the "path" of metropolitan development Opportunities: . City has time to get organized and focused- with lots of people currently engaged . Because Farmington is unknown- chance to create or defme and image . Recruitment - going from zero to something focused . Rail service - marketing opportunity to users that need rail 4. Strengths - Vermillion River - quality trout stream in the middle of the city Opportunity: . Trout stream - market the image and potential to draw people Weaknesses 1. Location - not on 1-35 2. City has image of bedroom community 3. Population currently too small for 'big box' retail interest 4. Limited land available for industrial development 5. "Fragmented" downtown business community -lack of direction 6. Lack of common vision 7. Transportation a. Railroad b. Intra-city options are poor c. Lack of good access to 1-35 8. Lack of expertise making development deals 9. Three separate groups working on economic development 10. The community at large is disengaged 11. Poor image or lack of image with business community 12. Poor relationship with townships 13. School District fragmentation Threats 1. Developable land closer to the Twin Cities a. Retail b. Other 2. Lakeville annexation encroachment a. Possibility of surrounding Farmington 3. Gravel mines blocking economic development 4. Long-term holding of agricultural land -limiting land for development 5. Opening up of Elko-N ew Market due to sewer extension 6. Future push back against development 7. Slow down in the housing market 8. High gasoline prices 9. State of Minnesota actions are unpredictable a. LGA cuts b. TIF limitations 10. Desirable development is close to Farmington, but outside our city a. Example: Flagstaff Ave. 11. Highway 3 congestion 12. Acting alone on economic development resulting in being land-locked Weaknesses/Threats - Possible Connections 1. Weaknesses - "Fragmented" downtown business community - lack of direction; lack of common vision; three separate groups working on economic development; the community at large is disengaged Threats: . Developable land closer to the Twin Cities . Opening up of Elko-New Market due to sewer extension . Desirable development is close to Farmington, but outside our city 2. Weaknesses -limited land available for industrial development Threats: . Long-term holding of agricultural land -limiting land for development . Lakeville annexation encroachment- possible surrounding of Farmington . Acting alone on economic development resulting in being land-locked Other Issues / Connections 1. Transportation- enhancing connections to serve new development 2. Deal making capabilities - staff development 3. Interesting and unique city - creative and unique approaches - fiber optics, etc. Exhibit A Areas of Opportunities: 1. Resources available to support Economic Development 2. Business Development - Business retention/expansion program - Business recruitment Downtown Development Industrial Development Commercial Development 3. Technology 4. Business Friendly 5. Create Marketing Program 6. Update Market Study ~X,B CITY OF FARMINGTON 2030 COMPREHENSIVE PLAN 2008 UPDATE Prepared by: Planning Division Economic Development Division Parks & Recreation Department June 1, 2009 Farmington 2030 Comprehemive Plan Update GOALS AND POLICIES Policies The following goals and strategies will be the top priorities with regard to concentration of time, energy and resources. With priorities established, activities can be structured to support the overall economic development vision of more balanced commercial and industrial growth. PolicY 1: Downtown Develonment and Redevelonment The boundary of the downtown area has been discussed many times and remains a point of confusion. A clear delineation of downtown is an essential first step in defIning and planning the next steps of development including promotion of infi11 development and the expansion of the commercial core. It is the desire of the City to have standards in place to coincide with the development and redevelopment of downtown. Strategies to achieve the policy: a) Establish a Clear Downtown Boundary Action Steps: 1. Perform a SWOT analysis of existing and potential communication links within the community. Implementation a. Staff will identify potential stakeholders and resources that may be helpful in disseminating information and recruiting involvement in the process of delineating a clear boundary for the downtown. 2. Design and Implement a Public Information Campaign Implementation a. Staff will develop promotional materials to be distributed to members of the City Council and Commissions, the School District, the Chambers of Commerce and residents. b. A survey will be distributed to residents to obtain feedback. c. Joint meetings will be held with the City Council and the Planning Commission, Economic Development Authority and Historic Preservation Commission. d. Public meetings for residents will be organized to facilitate discussion regarding the delineation of downtown. e. The data obtained from the aforementioned meetings will be reviewed and a boundary for downtown will be created. 2 Economic Development Element Farmington 2030 Comprehensive Plan Update f. A map showing the resulting boundary will be created and upon EDA approval, will be disseminated to the community. b) Design Standards Action steps: 1. Identification of the primary group to lead the creation of design standards will need to take place. Implementation a. Staff will meet with the members of the Planning Commission and Historic Preservation Commission to determine which group will lead the process of creating design standards for the downtown. b. Develop preliminary design standards. The following elements will be addressed: . Types of materials . Bulk requirements . Height . Signs . Streetscape . Landscaping . Green Space . Lighting . Image . Complimentary architectural elements . Walk-able and pedestrian oriented c. Review preliminary design standards with the public and receive input. d. Develop final draft and adopt supporting ordinance. e. Make design standards public and promote. c) Promote In:fill Development Action Steps 1. Downtown Outreach Program Implementation The program would include business visits by City staff members or small committee which might include: City Staff, a City Council Member, an EDA Member and/or Administration. An important aspect of the program will be follow-up on concerns or questions raised at business visits and creation of a database to compile visit information and results. 2. Promotion of infill in the downtown area that includes business activities that are complimentary to the unique atmosphere of the historic downtown. 3 Economic Development Element Farmington 2030 Comprehensive Plan Update Implementation Through information compiled from the Market Study and the Downtown Outreach Program, the types of businesses to be targeted will be identified and may include the following: . Professional offices . Entertainment and arts . Craft and antique . Boutiques . Specialty shops 3. Parks and Public Spaces Implementation Staff will work in conjunction with the Park and Recreation Advisory Commission to identify opportunities for park and green space in the downtown area. 4. Identify Incentives Implementation Possible incentive programs and options will be investigated and developed based on input from the City Council and EDA. Staffwill research available grant and loan funding. 5. Land Assembly Strategy There will be ongoing attention to the possibility of land assembly. Potential reasons to assemble land include but are not limited to: . Prices that are unusually favorable . The ability to capture opportunities that arise . To accommodate the desired development patterns as outlined by the Comprehensive Plan. 6. Develop and implement a communications plan. PolicY 2: Industrial Develooment The goal of promoting industrial development is to encourage the expansion of the tax base and job creation to enhance the well being of the community. The following steps will be undertaken to promote development. Strategies to achieve the policy: a) Build, execute, and maintain a business retention program. Action steps 4 Economic Development Element Farmington 2030 Comprehensive Plan Update 1. Visit each business on an ongoing basis dependent on their individual needs. Partnerships with the City Council, EDA, Administration, DEED, the Chambers of Commerce and Legislators may be utilized to benefit the program. The following steps will be included in the program. a. Identification of the questions and discussion topics for the visits b. Identify list of businesses c. Data review d. Follow-up e. Ongoing visits b) Promote the availability, use, and sale of industrial property Action steps 1. Develop inventory and contact list 2. Identify desired businesses 3. Determine if land assembly is appropriate 4. Rezone property to comply with Comprehensive Plan 5. Develop promotional materials for desired business types 6. Create marketing packet for inquiries c) Advocating with stakeholders d) Enforcing building standards e) Establishment of incubator buildings and/or inventory of vacant buildings for start-ups f) Extend Light-Industrial Areas of the City Policv 3: Commercial Develonment Outside of Downtown Area Support and promotion of commercial development throughout the City of Farmington will continue to be a priority. The commercial development outside of the downtown area includes neighborhood commercial nodes, and those along major thoroughfares. Those areas will be supported by the following strategies. Strategies to achieve the policy: a) Promote the availability, use, and sale of commercial property and buildings. Action steps 1. Zone commercial property to influence development patterns 2. Determine if incentives will be used to promote this type of development 3. Market to desired business types and brokers 4. Develop design standards (PUD) 5. Land assembly/Identify priority locations 6. Infrastructure 5 Economic Development Element Farmington 2030 Comprehensive Plan Update b) Build, execute, and maintain a business retention program. Action steps 1. Visit each business on an ongoing basis dependent upon their individual needs. Partnerships with the City Council, EDA, Administration, DEED, the Chambers of Commerce and Legislators may be utilized to benefit the program. The following steps will be included in the program. a. Identification of the questions and discussion topics for the visits b. Identify list of businesses c. Data review d. Follow-up e. Ongoing visits 6 Economic Development Element Farmington 2030 Comprehensive Plan Update MARKET STUDY To better determine the future demand for commercial and industrial space, the Economic Development Authority and the Farmington City Council hired two consulting firms to conduct a commercial and industrial market study in mid 2007. The two firms, Maus Group and McComb Group, Ltd. worked together to conduct research and analysis of past trends and future growth projections for development in the Farmington trade area. The results of the study were used in the City of Farmington's Comprehensive Plan Update as well as to provide additional guidance in the creation of work plans for the City's Economic Development Staff as identified in the Economic Development Chapter of the 2030 Comprehensive Plan. The Summary o/Findings and Development Strategy that follow provide insights into development potential, space absorption and strategies that serve as a guide for future development activities. 7 Economic Development Element Farmington 2030 Comprehensive Plan Update SUMMARY OF FINDINGS AND DEVELOPMENT STRATEGY (prepared by Maus Group I McComb Group Ltd.) Farmington is updating its comprehensive plan to accommodate additional residential, retail and business development. New development will capitalize on previous Farmington investments including development and successful marketing of the Farmington Industrial Park and creation of the Spruce Street Commercial Area. The decision to relocate City Hall in Downtown retains an important destination in downtown. Development Potential Future development potential for retail, services and business park establishments through 2030 are summarized in Table L Acres of land needed for this development is also shown for each type of development. i T~~i :r-~~~~=-==--=:.=~==.:.:=~~=:c:=.r-------uT~.J--'. -~':::':=':":':1=C-::"====1. -T':==--=_ , ESTIMA TED INCREASED RETAIL, SERVICE AND BUSINESS PARK SPACE F~~~~===~-- _~==~~~~-"=[~~f=~~~2I"t~~~~~[=C:~: ..- ~--:i=~ 1 I. S uare Feet 1 Land r Category T I Demand I Contingency I Total --"I(Acres) fRetail ---------u---------t-~l_____I' -- ______L. ~-~-. -----. !~"=~~=~.=~: l!~t, FJi.~~- .....Et~!fl-=-~~ I~~~~~,=::~:t=f-~,:::~~~:~::::p :::::~-:: .. 1~::J~::'f:~n---L- --m:!~I= ::~::~lT-::~~--r ~~ ... . -~ - ~~!~-Lm-----.m--------lm-~ -- :::~~::~- [~ -~-,;~~:~ -~::~~::~. .---I--:~:-- I I I IT ~I~ I i Source: McComb Group, Ltd I I I I II Farmington currently has about 640,000 square feet of retail stores, services and medical offices. Retail stores total about 223,000 square feet and services total about 240,000 square feet. Medical offices currently occupy about 64,000 square feet. There's an additional 133,500 square feet of space that could not be identified as clearly retail stores or services and is identified as other. Additional retail space demand by 2030 is estimated at 840,000 square feet. A contingency of 600,000 square feet is provided to accommodate unforeseen retail development. This contingency has been allocated to each retail category. The contingency is provided to ensure that Farmington will have retail space in the period beyond 2030. Most of this contingency, 500,000 square feet, has been allocated to retail since this is the category which accounts for the big box stores (Le. SuperTarget, Wal-Mart Superstore, Home Depot, Menards, etc.). Land area estimated to accommodate this retail development is estimated at 144 acres excluding water retention and streets. Existing business park type buildings total over 1.1 million square feet. 8 Economic Development Element Farmington 2030 Comprehensive Plan Update Office warehouse/industrial is the largest category with 809,500 square feet and bulk warehouse totals 195,600 square feet. The Farmington Industrial Park is responsible for much of the industrial development in Farmington. Business park space demand is estimated at over 2.8 million square feet with office warehouse/industrial accounting for about 60 percent of the estimated demand. Commercial office is estimated at 400,000 square feet and bulk warehouse accounts for 590,000 square feet. Office showroom is a relatively small category estimated at 180,000 square feet. A contingency of25 percent (715,000 square feet) has been provided for two reasons: 1) Farmington's growth will not end in 2030; and 2) the contingency space will provide for the possibility that demand for business park space exceeds the baseline estimates. Land necessary to support business park demand is estimated at 306 acres excluding water retention and streets. Space Absorption Estimated demand for retail and business park space increases steadily over the 23-year analysis period with the largest increase in the 2025 to 2030 period, as shown in Table ii. This is due to the growing metropolitan economy, Farmington's growth, and reduced supply of competitive sites in other communities. I Table-ii -, r===========-======================----====c:::====c=======T=r:.:-::=======L=T=========T==--I========T=I==========~ i ESTIMATED INCREASED RETIAL, SERVICE AND BUSINESS PARK SPACE . ' [~-=---~-- -----=--~- -- ~ND}.AND; 201 OTO 2030 - ~--------~-------- -1 r=..-~~~~i;g~:~~~l=r::I:'jc~f::~~~:~~~~rer'~~25~~:~:~- R~brll-- ~-~~~.:=~~~==~+=~-t=_.__ -]~_~~--L~~-=-l~J- ..- --.---- R,tan stores_________~T~_L 15~.J=_1 82 ! =l~02_ L 262 -Lf 341 I~~~~~LLL---- ...... F- fLyf I:!+[t~t l~.t ...1::__ ~~~~O:'~,,~=[=[-~=[::::fj}-.I-lmf:-I ~~--I[+- ~~-~ 1=-1-:..- :-T.;tal-=::=.::=::T=1n2L l-f-~L+--l~~~~O ~II,440~ f~E~~~l~~~~~~+==f~~i-P!i ff~=rll~i P:i~~~L b-:i';';ii~~;"=L::=] - -fiorT96+rn20i~-359 -I-i. -590.- l:c~;;f~~r:~ .--.-._~[-[J-1f-t+ ~~-!:P~~- ..~:J%~i5 I L. Total_________~~--!_-._1 708 I I 1,370! ! 2,301 i t3,5561 liand(a~~;;)------.----I-I----T--T--1-!---[T 1---- IRet~ii~~--- --- - ....- d__ ... r---r--s---r- r----3()- j -r--62--r---I--.-97r---i44-- ~ine~;p-ark-------_.------r--.-I-21--r-T.--63--1--lll9 --~--i-198 --r- ---306-1 1---TOt-~i-----.----- -------r--- 29--: 93 !-- I 181 ~-- I 295 ! -. 450 im .. --. . 1-1------11-1 T .-,- ! J-q I !~~_~~~ ..~~~~~~~CE~~R;I!~~_~~~[~~~~ [~~_~-==J=~~[...-==_=c_-_c_=:-=_~=l=__T-===]___-I.~.==~~_~j 9 Economic Development Element I I Farmington 2030 Comprehensive Plan Update Estimated demand for retail, service and medical offices accelerates to an additional 840,000 square feet by 2030. The largest increase in space occurs in the later years of the analysis period. The estimated increase between 2010 and 2015 is 140,000 square feet, which increases to 210,000 square feet in 2020. The estimated increase in demand is 193,000 square feet in 2025 with a further increase of 256,000 square feet by 2030. For purposes of preparing absorption estimates, the contingency was allocated to each five-year period beginning with 31,000 square feet in 2010. Land needed to support the above retail demand is contained at the bottom of Table ii. One acre of land will support about 10,000 square feet of gross leasable area, excluding land for water retention. This indicates demand for about 84 acres. Adding 60 acres for the 600,000 square foot contingency brings total additional land area to 144 acres by 2030. Estimated business park demand by five-year period is contained in the lower portion of Table ii by building type. These are baseline forecasts and do not take into consideration the current economic environment that may restrain development of business park properties. The total additional business park space by 2010 is estimated at 240,000 square feet. For 2015, the estimated demand increases to 708,000 square feet, an increase of 468,000 square feet for the five-year period from 2010 to 2015. Baseline demand in 2020 is estimated at 1,370,000 square feet, an increase of 662,000 square feet from 2015. This table demonstrates that space demand increases with the largest space demand is estimated for the period 2020 to 2025 (931,000 square feet) and 2025 to 2030 (1,255,000 square feet). Retail Development Strategy Growing population and households in Farmington's trade area will provide support for a growing number of retailers over the next 23 years. Retail potential is focused primarily in convenience goods, food service, services and medical, or those business establishments that are generally patronized by customers that live near the business establishment. Demand for shopping goods, which include apparel and accessories, electronics, home furnishings, and other specialty stores, have more limited potential because the Farmington trade area does not have enough households to support most of these types of businesses. Significant retail development occurs around anchor stores that attract customer traffic. Examples of anchor stores include supermarkets, drug stores, discount stores, superstores, department stores, and home centers. Retailers and services attracted by anchor stores differ by type of store. Supermarkets and drug stores attract convenience retailers, liquor, florists, fast food and personal services. Discount stores and superstores attract many of the same convenience stores and services and a limited number of shopping goods stores. Department stores attract shopping goods retailers, fast food, and restaurants. Home centers and other destination stores, such as furniture, appeal to a smaller group of retail stores as a draw. New anchor stores, because of their size (55,000 to 200,000 square feet), will be most likely to locate in the Spruce Street Commercial Area. How and when this occurs will affect downtown business establishments. 10 Economic Development Element Farmington 2030 Comprehensive Plan Update Supportable square footage analysis indicates that Farmington will be able to support an additional supermarket. The timing of this new supermarket is important to Downtown Farmington. Farmington's trade area should be able to support two supermarkets sometime around 2015. This supermarket is likely to locate in the Spruce Street Commercial Area. If a new supermarket is constructed before the trade area can support two stores, it's possible that Econofoods could be forced out of business in a scenario similar to that which occurred in Rosemount when Knowlan's opened causing the downtown supermarket to close. Subsequently, Cub opened a store and Knowlan's closed. Customer traffic to other stores in Downtown Farmington would suffer ifEconofoods were to close. Analysis in this report demonstrates support for a discount superstore in about 2015 to 2020. A superstore would reduce market share and sales for any supermarkets operating in Farmington. Due to its smaller size, Econofoods could be most vulnerable. Notwithstanding the timing for supermarket or superstore development contained in this report, major anchor stores are concerned about market share and the development activities of their competitors. This can cause a retailer to build a store before a market can fully support the store to prevent a competitor from locating in the market. As a result, an anchor store could choose to locate in Farmington to prevent a competitor from opening a store in the area. The timing of these types of development decisions is unpredictable, but do have ramifications for Farmington. Farmington's comprehensive plan emphasizes maintaining Downtown as a major retail area and also provides for retail expansion into the Spruce Street Commercial Area. Current drafts of the 2030 comprehensive plan identify new retail areas north ofTH-3 at 195th Street, and on Flagstaff south of 195th Street. These should be convenience shopping areas. A convenience shopping area could also be planned at CSAH 50 and Flagstaff. These convenience shopping areas should be five to ten acres in size and designed to accommodate the types of uses found at Marketplace and Charleswood. Downtown Farmington is the area's dominate retail location due to its historic base of retail stores and services. It is important to improve Downtown's attractiveness to retailer stores and services. Retail potential in Downtown Farmington can be strengthened by locating new businesses that serve as major customer draws in the downtown area. This is similar to the city's decision t9 build its new City Hall in Downtown. To encourage retail development in Downtown Farmington, the city could consider establishing a retail incubator to attract new retail stores to Farmington at affordable occupancy costs. The key to maintaining the vitality of Downtown Farmington is to have a growing number and diverse mix of attractive retail stores, restaurants and services that can meet the needs of trade area residents and visitors. Building owners and retailers in Farmington's older retail areas (Downtown and Highway 3) should be encouraged to update and modernize their space to present a more contemporary appearance. This includes updating storefronts and interior finishes and fixtures. Downtown 11 Economic Development Element Farmington 2030 Comprehensive Plan Update retailers should seek to be comparable to their competitors on Pilot Knob and in Apple Valley, Lakeville and Rosemount. Most national and regional retail chains have refurbishment schedules of seven to ten years. Over the next 25 years, some of Farmington's existing retail buildings are likely to be redeveloped to accommodate expansion of existing retailers or new retailers choosing to locate in these areas. The City of Farmington should encourage these redevelopment activities and should establish programs to enable redevelopment to be economically feasible. Business Park Development Strategy Since 1990, about 450,000 square feet of business park space has been developed in Farmington. Industrial Park tenants indicated they located in Farmington due to the availability of affordable land and friendly business climate. Farmington should capitalize on this "good will" in its business development activities. This will help to mitigate development industry misconceptions of Farmington identified in broker interviews. A strategy that will help Farmington achieve a balanced growth would include the following: . Land use policy that promotes a balanced growth that includes a mix of office and industrial users to help support Farmington's tax base and minimi7:e the real estate tax on homeowners. . Target industries that are not heavily dependent on transportation. Because Farmington is not on a primary transportation corridor like 1-35, industries that depend on a road network to receive and ship large quantities of raw materials and finished goods will find Farmington less accessible than other locations. . Building values tend to reflect the wages and talent of the people working inside. It is important to create jobs that enable employees to live within the community. These employees are likely to have higher disposable income to support local businesses. This will reduce traffic congestion created by commuters that leave the community to find employment. . Development covenants for the industrial park will be important to ensuring that higher value real estate is developed. However, some communities create covenants that are overly restrictive and complex, which will often discourage industry from locating in their area. Covenants that are extensive and detailed are not necessary and can suggest an unfriendly local business climate. . Focus on the creation of wealth rather than the number of jobs created. High value investment will create jobs for highly paid skilled workers to operate the facility. High value investment tends to create a sense of permanence. Light assembly and warehouse tenants and owners are fairly mobile. The spaces they occupy are flexible and commodity real estate that is easily adaptable for new users. High value investment often includes expensive equipment that is very difficult and costly to move and often requires customized buildings. 12 Economic Development Element Farmington 2030 Comprehensive Plan Update . The area to the west of the Industrial Park should be guided business park and sized to accommodate projected demand in this report. . It is very important to control the cost of land to promote business park development. In order to minimize up front acquisition and infrastructure cost, the EDA should investigate several scenarios to control land and cost. These include: II>> This could be as simple as acquiring a renewable option on the proposed business park property. Option money is not subjected to ordinary income tax until the option is exercised. Therefore, a land owner could continue to farm the land and collect option money not immediately subject to income tax. Ell The EDA could enter into a purchase agreement with a land owner that includes a "take down" provision that would allow the EDA to exercise a purchase at a predetermined price when a buyer is found or to take down land on a scheduled basis over an extended number of years. tl) The EDA could enter into an option agreement for a nearby farm at a lower price and facilitate a 1031 tax free exchange with another land owner near to the business park allowing the owner to avoid paying a capital gain tax. . It is important to develop a business park layout that is flexible. Utilities should not be extended beyond the entrance. To do so would commit the city to a fmal design and preclude flexible lot configuration and size for potential users. A preliminary plat can be developed and finalized as each lot is sold. . The EDA should consider developing a business incubator building. This could be a multi-tenant building with added improvements that would allow emerging companies with new technologies to become established and hopefully later grow into the business park. It may be necessary to provide TIP, deferred assessments or other incentives to encourage a private developer to create a building with these added amenities. . The EDA should create a targeted marketing program focusing on specific industries and businesses south of the river. This would include direct mail and personal contact by EDA staff. Farmington's development strategy should focus on local and regional businesses that are likely to have more flexible location criteria than national firms. Farmington's favorable business climate is a significant advantage. Farmington has the ability to build on the success of the existing Industrial Park. 13 Economic Development Element 61.0 City of Farmington 430 Third Street Farmington, Minnesota 651.280.6800 . Fax 651.280.6899 www.ci.farmington.mn.us TO: Economic Development Authority FROM: Lee Smick, City Planner AICP, CNU SUBJECT: First Impressions Survey Summary DATE: June 28, 2010 INTRODUCTION At the May 24, 2009 EDA meeting, staff discussed the idea of performing a First Impressions Survey to determine how visitors perceive the look and feel of the City. The survey is designed to increase awareness of a community's strengths and highlight areas of concern. The survey helps the community do the following: . Evaluate the success of current developments. . Set goals and priorities for new developments. . Identify ways to strengthen community services. . Identify initiatives for City leaders, community support agencies, and civic groups and will become the framework for the Economic Development Strategic Plan. A First Impressions Survey was performed on June 18,2010 from 10 AM to 12 PM. Five Planners from various jurisdictions joined the City's Planning Staff and toured the community for almost 2 hours. The planners included: . Maggie Dykes, City Planner, Apple Valley . Joe Hogeboom, City Planner, Golden Valley . Deb Garross, City Planner, Bumsville . Patrick Boylan, Senior Planner, Metropolitan Council . Peter Hellegers, City Planner, SouthSt. Paul DISCUSSION After the tour was completed, the planners sent their surveys back to the City for staff to compile the responses. The wrap-up section of the survey portrayed a mostly positive view of Farmington as shown below. Was your perception prior to the visit accurate? In what ways was Farmington different from what you expected? · It was more of a suburban community than I thought. I did not know there was as much new single-family housing as there is. I al.so didn't know the trail network was as extensive as it is. . · Yes. As suspected, Farmington was very pleasant. I had a good experience in Farmington. I could certainly see myself living or working in Farmington. . For the most part yes, though there was far more residential than I expected. Also, I was very surprised at the high quality of some of the residential areas. Did the information you collected prior to the visit accurately reflect what you observed/experienced? . Generally, yes. . The website did a good job of presenting the city in a positive light. . Not entirely. Parts of the City were better off than I imagined. What is the most outstanding feature of Farmington? . Its location is convenient. It's a nice small town that's.located between the larger suburbs of Apple Valley and Lakeville, and historic Northfield. . In my opinion, the most outstanding feature of Farmington is the attractive Main Street (3rd Street.) I think it is neat to see towns like that so close to the Metro Area. · The City planning staff was great hosts/ guides. Their knowledge of the built and planned environment satisfied my curiosity during my visit. Decent professionals always increase the image of a community. . The downtown! Many communities.are trying to create artificial"town centers" to develop some sense of place that they lack because most of those communities were originally developed as bedroom communities. Having an established and fUlly-functioning downtown is an outstanding feature. List five positive things you observed about Farmington. . Well planned. . Convenient. . Clean. . Friendly people. . Affordable housing. . Thriving and vibrant Main Street. . Wonderful High School facility. . Good connectivity/road network throughout the community. . Attractive and well-maintained parks. . Healthy neighborhoods. . Kids doing sidewalk chalk art in downtown . Proximity to vistas of rolling fields of corn and beans was pretty cool. . Streetscape / street furniture in downtown is well done. . Impressive high school football stadium. . Downtown. . Farmington High School. . Great quality parks. . Some really great quality housing. . Cultural activities; Dew Days, Farmer's Market. What are three potential opportunities available to Farmington? . More industrial park businesses. Price of land is probably more reasonable than neighboring Lakeville, Eagan. . Dakota County fairgrounds. . Compact downtown . Increase commercial/retail options in a way that benefits and enhances downtown Farmington. . Identify areas to keep as natural preserves. . Increase recreation opportunities along the Vermillion River. . Industrial development to expand tax base andjobs. . Trout fishing in Vermillion River. . Senior Housing (focus in/near downtown). . Develop housing/activities for young single adults - condos, townhouses, etc. . Location to link commercial/industrial with new comm.jind. Development. What are the five biggest obstacles/challenges facing Farmington? · People perceive to be mostly agricultural, and not connected to the Twin Cities. . No major industry or job generators in the community. . lack of nightlife or a real"hook" to entice people to move to area. . lack of attractive, multi-family housing. · Commercial areas are starting to spread away from downtown and that may reduce the attractiveness of the downtown businesses. · Unusual city boundaries/maintaining city identity in areas to the far north. . Aging housing stock in certain areas of the city. · More development occurring on the north and west sides of the city, ignoring areas on the east and south side of the city. . Not enough retail options to sustain people living in the city. . Provide more connections between different neighborhoods. · Retaining young professionals. · Keeping downtown relevant to the needs of locals and attracting tourists. . location (distance from Mpls.jSt. Paul). . Boundaries with adjacent townships & impact on development. . Pedestrian connectivity. . Creating opportunities for night life, cultural events, etc. · Continuing development in adjacent communities - development in Lakeville, Rosemount can siphon development p_otential away from the community. What will you remember most about Farmington six months from now (positive or negative)? . Compact downtown. . I will remember that Farmington is a quaint small town just minutes from the metro area. . Positive: the large football stadium, the brick downtown buildings; . Probably the parks/housing - maybe that phenomenal high school What have you learned here that has changed your impression of your own community? . None. . I think Golden Valley is more urban than I originally thought. . My community is fully developed so there aren't as many parallels. However, I probably appreciate the impact of tighter setbacks on establishing more of a small community feel versus a rural center. The Farmington website I think establishes a good template that my community should follow. Has this experience given you any new ideas about what is needed in your own community? . N'o. . I would love a "real" main street in my community. . Yes. Other comments: . The planning and economic development staff was very professional, and is a credit to Farmington. From the information provided above and in the First Impressions Survey, it is apparent that Farmington has a lot of positive things to offer at this time. Things to work towards in the future include the following: . Provide better wayfinding signage for downtown, other retail areas. . Promote Vermillion River, parks, trails, and small town feel. . Promote the maintenance of housing through code requirements, volunteer opportunities, or rental house licensing. . Promote more variety in restaurants and retail shops. . Promote the construction of new apartments. . Work with townships to clean up borders. . Create more opportunities for young adults (night life) and seniors. . Continue to maintain the downtown as a destination. . Capitalize on the "surprise" factor of the high quality of life found in Farmington. ACTION REQUESTED Review the First Impressions Survey and utilize the information as a background for the Economic Development Strategic Plan. Respectfully submitted, ~k. City PI"':er AICP, CNU t~. [J G arm n ton GET INVOLVED TOP 10 ,. Promote Farmington's unique nature - Trout Stream, bike trails, green space 2. Create and Promote Events - Dew Days, Farmer's Market, Soybean Festival 3. Keep Farmington Beautiful - Flowers, light poles, signage, cleanliness 4. Promote Farmington - Newspaper, newsletters, calendar 5. Brand Farmington - Small town feel and charm, quaintness 6. Business Retention - Strengthen existing business relationships 7. Business Recruitment - Attract big box 8. Business Recruitment - Attract motel, hotel 9. Bring Farmington together - North and south 1 O.Promote Farmington - Strengths and its people TOP 3 ,. Promote Farmington 2. Brand Farmington 3~ Unite Farmington (/) CD ..... ro Q -I-- ~ a.. CD ::a '00 c a (/) (I) 0:: -I-- (/) ::l ..... .s.g CJ) -I-- C. .0 13 <( c o li c .~ l\J U. C!) ..... o E e A- N ~ ..- vi +-' C t1J > t1J .... o +-' ~ :iii C o '" Ctl t1J Ill. t1J +-' Ctl t1J .... U c' ~ o +-' C ~ o -0 U .C o +-' '" :c .~ C o :;::; o E o .... 0. .... o t Ctl 0. t1J tUl ::I ..c .!!! t1J tUl Ctl C tUl .Vi +-' C t1J iJi t; CD 'Vi e C ::l 0 o u (/) ~B: 3: liD ~ iJi .... 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OJ 3: o I;:: i OJ c c ra .0 OJ~ bO co C bO 'Vi .L: bO ::s ..c 0 ..... ... ::s.L: 0..... tIl.l.1 "C c c OJ co E .L: OJ to:; oCij c ::s .5 tIl VI 'S;: C C bOO 'Vi E OJ E -g 0 ]5u 3:11~ .Q c e <C OJ ::J E 0 RE~ .-l8a:::: u ..... OJ - '--- f-- .c ..... ::s o tIl '0 C co .L: t o c c OJ OJ ~ OJ .0 a. :c tIl ... OJ '0 ra .!!! c ~ '0 C rtl OJ > 'Vi OJ .L: o U rtl OJ '0 ":; o ... a. tIl a. ::s o ... bO C OJ OJ ~ OJ .0 .c o '';:; rtl U C ::s E E o U 11 ~ c u OJ ... E 5 E (/) o Q) ua:::: co ~ Economic Development Strategy Areas of Opportunities: Met Goal Ongoing No Progress 1. Resources available to support Economic Development 2. Business Development Business retention / expansion program X Business recruitment X Downtown Development Establish a Clear Downtown Boundary X Downtown Design Standards X Promote Infill Development X Commercial/ Industrial Development Promotion of Available Property and Buildings X Advocate with Stakeholders X Enforce Building Standards X Encourage Incubator buildings and/or inventory of X vacant buildings for start-ups Extend Light-Industrial Areas of the City X Build, execute, and maintain a business retention X program 3. Technology 4. Business Friendly Partnerships with DCR Chamber and EGC, FBA and X BNI 30-day permitting process X Staff support of inquiries and business development X 5. Create Marketing Program Provide better wayfinding (Branding) signage for X downtown, other retail areas. Promote Vermillion River, parks, trails, and small X town feel. Promote the maintenance of housing through code X requirements, volunteer opportunities, or rental house licensing. Encourage more variety in restaurants and retail X shops. Promote the construction of new apartments. X Work with townships to clean up borders. X Define opportunities and activities for young adults X (ie., night life) and seniors. Met Goal Ongoing No Progress Continue to maintain the downtown as a X destination. Capitalize on the "surprise" factor of the high X quality of life found in Farmington by utilizing testimonials in publications and websites. Focus on Local Residents X Create campaign to remind them to "live local". Build ownership in our community - support those that support you! Create consolidated calendar. Create data base of contacts for groups in the X community. Eight major events can be accented by inserting into monthly calendar of activities. Create a list of groups - Rotary, Lions, or youth organizations. Create biking group and associated events. Farmington looks inviting. X Clean-up day event. Flowers in Farmington 6. Update Market Study X I Blue text - First Impressions Tour Red text - GROW Farmington - Promote Farmington Exhibit E Areas of Opportunities: Red Text - Working on/Completed items Blue Text - Proposals to work on 1. Resources available to support Economic Development A. Work with EGC, FBA, School District, Rotary, etc. B. CDBG Business Reinvestment loan/grant program C. CDA Redevelopment Incentive Grant (Riste building) D. CDBG Program E, Staff F. Business Improvement District tax G. Small Business Development Loan Program (DEED - Industry) H. DEED Redevelopment Grant Program 1. Metropolitan Council's Livable Communities Demonstration Account J. Levy K. Potential new staff 2. Business Development A. Business retention/expansion program 1. Business Outreach Program 11. Continuous Communication with Existing Business Owners iii. Focus on Retention and Expansion of Existing Businesses - GROW Farmington Existing Business Owners Promote Location to other Potential Owners Business Retention & Expansion (BRE) U of M Extension (40% to 80% of new jobs are created by existing firms, rather than by attracting new firms to a community) a. Business visit and interview b. Tracking of "red flags" from businesses: how should requests be handled, who responds, when follow-up occurs, outcome of follow-up visit c. Measure success of BRE Program IV, Small Business Mentoring Program v. Shop Local Program - 3/50 Project vi. Community Council- GROW Farmington vii. Grow Minnesota Visits B. Business recruitment 1. Downtown Development a. Delineation of downtown commercial district b. Downtown commercial overlay district created c. Downtown design standards d. Master plan for Rambling River Park e. Farmer's Market f. Incubator Spaces - 305 3rd St g, Marketing buildings for sale h. Buxton Leakage Study 11. Industrial Development a, Industrial Park (West side of PKR) has been comp planned and zoned for industrial uses. A preliminary concept plan has been prepared. b. Install infrastructure on Fairgreen Avenue to attract industry. c, Industrial Recruitment Strategy iii. Commercial Development a. Business Recruitment Strategy - GROW Farmington What types of businesses do you want to attract? What specific businesses will be recruited? How will the initial contact be made? Where should the initial contact occur? Who should make initial contact? What materials should be included in marketing package? When and how should follow-up occur after the initial contact? Market position statement - types of businesses to attract Identify business wish list - targeted markets Comparability study Assemble recruitment and marketing materials Generate leads Court prospects b, Components in Place at time of Recruitment Identification of the optimal tenant mix Inventory of available building space or developable sites Business recruitment strategy Marketing package promoting the advantages of the community Promote Tenant Mixture Browsing Provide incentives to locally Owned Business - Funding? Attract nationally known businesses (Starbucks, Walgreen, CVS) Business Owner's Forum Realtor Day Broker Tour 3. Business Friendly A. Business outreach program visits B. Ribbon Cuttings C. Properties available map and listings D, Business Guide E. Commercial/Industrial Permitting Process Checklist F. Commercial & Industrial Development Guide G. City Brochure of Commercial/Industrial Opportunities H. Community Development/Event Committee I. Home Occupation Permit Brochure J. Business appreciation lunch/social K. Meet the Merchants campaign L. Business spotlight at City Council meetings M. Improve Farmington's transportation gateways and corridors - GROW Farmington N. Improve the appearance of Farmington - GROW Farmington O. Install signage to commercial areas - GROW Farmington 4. Create Marketing program A. Marketing folder/Business outreach program brochure Marketing package inserts a. Map of retail site and trade area/Sell Sheets b. Map of retailer's potential customers c, Retailer match report that compares the site's trade area characteristics with the retailer's locations in similar trade areas - Metro MSP d. Demographic and psychographic profiles of the households in the trade area e, Contact information for the person at the retailer who has location decision responsibilities f, Trade area geographic definition, demographic data, and economic data g, Vehicle and pedestrian traffic volume h, Mix of existing retail, services, housing, etc, 11. Define Brand - GROW Farmington a. Determine if brand is citywide or for commercial areas only. b. Create a "brand" or new image for Farmington that revolves around one central theme. c. Define key positioning messages and images. d, Align consistent messaging about Farmington with other marketing partners such as newspapers, calendar, Dakota County Fair, Dakota Regional Chamber, etc.. 5. Technology A. Partnership with Dakota Futures: Future Intelligent Community Initiative B. Dakota County Broadband/High Speed Internet Committee C. Dakota County Google fiber application D, City/County Manager's Meeting E, Locations of WiFi, Broadband F. Ultra high-speed broadband taskforce (State) G. Develop City Technology Task Force H. Work with School District # 192 6. Update Market Study A. Maus & McComb Study 2007 B. Market Study updated to 2010 with focus and infOlmation on identified businesses- location/business model and corporation contact information