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HomeMy WebLinkAbout04-25-19 CITY OF FARMI T N ■ AGENDA REGULAR ECONOMIC DEVELOPMENT AUTHORITY MEETING April 25, 2019 6:30 PM Room 170 Hannah Simmons, Chair; Steve Wilson, Vice-Chair Katie Bernhjelm, Ryan Butterfield, Jake Cordes, Robyn Craig Geraldine Jolley 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA 5. CITIZENS COMMENTS 6. CONSENT AGENDA (a) Approve Meeting Minutes (March 28, 2019, Regular Meeting) (b) Monthly Financial Statements 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS (a) Business Retention and Expansion Strategy Update (b) Marketing and Website Review 9. DIRECTOR'S REPORT (a) April Director's Report 10. ADJOURN ;� ► ►i, , City of Farmington 430 Third Street Farmington, Minnesota 651.280.6800 -Fax 651.280.6899 460 ar.,, www.ci.farmington.mn.us TO: Economic Development Authority FROM: Cynthia Muller,Administrative Assistant SUBJECT: Approve Meeting Minutes (March 28, 2019, Regular Meeting) DATE: April 25, 2019 INTRODUCTION/DISCUSSION Please find attached the draft meeting minutes from the March 28, 2019, EDA meeting. ACTION REQUESTED Approve the March 28, 2019, EDA minutes. ATTACHMENTS: Type Description D Exhibit Minutes MINUTES ECONOMIC DEVELOPMENT AUTHORITY Regular Meeting March 28, 2019 1. CALL TO ORDER The meeting was called to order by Chair Simmons at 6:30 p.m. Members Present: Simmons, Butterfield, Cordes, Craig, Jolley Members Absent: Bernhjelm, Wilson Also Present: Adam Kienberger, Community Development Director; Teah Malecha, Finance Director 2. PLEDGE OFALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA MOTION by Craig, second by Cordes to approve the Agenda. APIF,MOTION CARRIED. 5. CITIZEN COMMENTS/PRESENTATIONS 6. CONSENT AGENDA MOTION by Jolley, second by Craig to approve the Consent Agenda as follows: a) Approved Meeting Minutes (February 28, 2019, Regular Meeting) b) Received Monthly Financial Statements APIF, MOTION CARRIED. 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS a) EDA Financial Review and Policy Discussion Finance Director Malecha explained the city council's priorities. One of the city council's priorities is to continue sound financial practices which includes implementing our 2030 financial plan, increase the bond rating to AA+and take the financial plan into consideration with all plans that are made. The city council wants to continue development for a successful future, support staff recommendations for the Fairhill plat and Sapphire Lake plat and support and communicate with businesses that purchased property in Vermillion River Crossings. The city council also wants to expand commercial/industrial opportunities, build on established partnerships and continue to work with the school district, support business partners including Dakota County Regional Chamber and the Farmington Business Association. Continue discussions on Dakota County regional issues and continue working with the townships. The EDA Minutes(Regular) March 28,2019 Page 2 city council wants to continue delivery of high quality services, review options for solid waste, update the city codes and review communication efforts. The city receives taxes and LGA which is used to support all the funds in the city. Finance Director Malecha presented the list of all the different funds in the city and the list of what is needed to fund and where the funding gaps are. The EDA started 2018 with $232,000 in cash. The operating costs, hotel feasibility study and comp plan update costs came out of that. Additional costs incurred in 2018 were the Dakota County broadband, Open to Business, and four façade grants. The EDA allocated$20,000 for façade grants and authorized $25,978. The EDA ended 2018 with$275,349. In the past there has been a transfer from the general fund to the EDA. Due to budget constraints,that was not possible in 2018. In 2019, $50,000 will be transferred to the EDA. Members asked several questions about the EDA expenses. For 2019, operational costs amount to $20,000; Dakota Broadband$24,000; Open to Business $5,513; Site Readiness program $20,000; Façade Improvement program $20,000; CDBG cashflow timing $50,000. That leaves $185,836 at the end of 2019. The EDA committed $100,000 towards the Rambling River Center Plaza and assessment relief of$35,000. So at the end of 2019 the EDA will have an estimate of$50,000 that is not committed for other purposes. Members discussed two pending projects,the Rambling River Center Plaza and the ice arena. Council is trying to determine which project to fund. Member Simmons noted the plaza project has been brought to the public and she has heard very little about the arena project. So since the public is aware of the plaza project,that is the one that should be funded. Member Craig stated the city council is trying to determine which one will best meet the needs of the community. Member Butterfield agreed with Member Simmons and asked if the EDA was being asked to commit funds to the arena project. That has not come up. Member Craig noted the arena project is more expensive and the plaza would be easier to do in three phases. Staff stated there are joint meetings scheduled with the city council and planning commission to make sure everyone is working together towards the same goal. Member Simmons recalled the EDA committed $50,000 towards the plaza project with the other$50,000 coming through sponsorships. Member Butterfield asked about assessments in Vermillion River Crossing. There are no additional assessments on any of the properties in VRC. Member Butterfield asked if the EDA should make plans for the $185,000 or the $150,000. That is up to the EDA members. Finance Director Malecha noted the only funds the EDA has coming in is the $30,000 general fund transfer. Members discussed putting the EDA Strategic Plan on the website. Members also recommended the city council's priorities be on the website. Member Butterfield summarized the EDA has committed funds to the façade grant program and to projects that will have a positive economic impact on the community. He asked which is a higher priority; should we commit more funds EDA Minutes(Regular) March 28,2019 Page 3 to the plaza or Highway 3 corridor projects or identify more programs for businesses. Member Craig stated until we are done with the Highway 3 corridor project it makes it hard to say so she would like to wait until that is finalized. Member Cordes agreed we should fulfill our current commitments before we commit to anything else. Member Simmons has noticed some programs are underutilized. We increased the amount for the façade program last year. She wants to preserve those dollars because anything that is visible, such as the façade programs or the CDBG dollars are important, but she would like to see progress on things we have committed to do. She would like to see progress with the other boards on making things tangible. People have been waiting for these projects, such as the plaza. Staff noted there will be a joint work session with the city council and planning commission on Highway 3 on April 8, 2019. After the Highway 3 plan is finalized, it will become clear as to where dollars will be used. b) Business Needs Assessment/BR&E Strategy At the last meeting it was discussed to get a better handle on the business needs of the community and a survey was discussed. Business Retention and Expansion (BR&E) focuses on two components—data and relationships. In the 2013 EDA Marketing Plan, it has some good tactics that rely on the relationship side. There are things such as regional surveys, localized general business surveys,targeted business surveys or face-to-face interviews. There is not always a high response rate to written surveys. Not everyone wants to sit down with someone from local government. Business owners are often more willing to sit down with other business owners. Staff proposed a multi-tiered approach. - More regular business needs information from economic development sources. - Additional communication and interaction with both the Dakota County Regional Chamber of Commerce and the Farmington Business Association. - Outreach to Farmington businesses requesting face-to-face BR&E visits. - Regularly featuring businesses in city communications"business highlights." - Ribbon cuttings/anniversary celebrations/groundbreaking ceremonies. - Specific talking points for EDA members who regularly interact with local businesses. Member Jolley explained the early morning gatherings that have started with the FBA. They are off to a good start and would like to have more people attend. There is no agenda,just communicating and getting to know each other. Member Craig noted most of the members work, so perhaps they should set a schedule for who can go to these meetings. Member Simmons would be more interested in thinking beyond informal networking to strategic outreach. When there is a new business, if they don't join the FBA, is there an opportunity to register as a new business with the city which would prompt an outreach from one of us and we could provide them with welcome information. Members agreed both avenues could be done. Member Simmons stated two things that come up are empowering business owners to take action with the information they have and also EDA Minutes(Regular) March 28,2019 Page 4 sustainability. We want to build a process for outreach so it doesn't rely on one person. Members agreed with using staff's multi-tiered dashboard. 9. DIRECTOR'S REPORT a) March Director's Report A joint meeting of the City Council, EDA and Planning Commission will be April 8, 2019, at 7:00 p.m. to review draft components of the Highway 3 Corridor Plan. Riste Lot Update—Staff has contacted Homestead Community Church. The EDA wanted to break even on the sale price of the Riste lot. The buyer does have a signed purchase agreement for the Exchange Bank building. Staff will meet with them next week to discuss architectural components before their closing. We are still working with them on the sale of the Riste lot. 10. ADJOURN MOTION by Cordes, second by Jolley to adjourn at 8:07 p.m. APIF,MOTION CARRIED. Respectfully submitted, CIJ.wtiii.Ct Mutter Cynthia Muller Administrative Assistant o �' '�0 ________ of Farmington /4- 430 Third Street Farmington, Minnesota 1\,‘ 651.280.6800 -Fax 651.280.6899 =arao+►`* www.ci.farmington.mn.us TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Monthly Financial Statements DATE: April25, 2019 INTRODUCTION/DISCUSSION Please find attached the monthly financial statements of the EDA. ACTION REQUESTED ATTACHMENTS: Type Description D Exhibit EDA-Actual Vs Budgeted Rev and Exp -April 2019 D Exhibit Financial Snapshot-April m°) o o o o0 o v o o (n o o c� �= o oD .- 0 W M (0 O) O (8" CO 1p O N N LC) OOv N 10 N(O rM (O N OD N d' >-m ()- C C7) d � t0 l6 O 0 0 o o r o o 0'0'00 O o O n 0 0 ; 0 d 0 00 O O M O O O O O O N 0 Oa) M O O M M-r c O O O O O.CO r �. V?O NV co N M M I� N m N 0 U O d' 0 00 O) O O O O 1n O O O 03 - P I� O h U M N O l6 p) CO SO n r O r V' O N N N n ice .. o Q 0 �n 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O 0 O d V O 0 0 0 p 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 rr V O Q N Z a, Y` 0 0 0 ;0`°0 0 0 0 00000000 ,0 o o 0 woC tl Q N 0 0 0 0 00;0 0 0 0 0,0 0 0,0 0 0 0 0,01-4 0 d 7 r V o Cl) N V 0 0 0 0 , 0 0 0-00 0 0 0 0 0 0 0 `0 0 12 O S .a.7, co Q Q CO o o 0 0 0 00 - 0 < T T3 w > N 4aN - 0 0 0 0 0 "0 0 0 o 0 0 0 0 p o o 'o "0 7 c3c. u o V )Q 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ,0 0 0 0 0 Q N O:O O O 0 0 0 0 0 O O 1n 0 o O N B 0 .Q� N N O tO O O O O M O N 0 0 0 0 0 0 h 0.44). ra rr co gig) .0 O n r.N 0) CO 0 It) O O O in M O) CU 0 O 0 0 0 N . - (h 2�0 � nits Il 0-eF 0 ' 0 O M r CU 0 0 0 O O 1n K) i(} N- O O. ''‘T 0) 10 '10 (c (O N N M 1U r - CON N 7 w r Q N M 1 ht0 w W Z0 Lu lL W w Ip U) a- (/) U) 'Lu 73 CO j W t �6 O Z Z O CO O Z d ° w 0 w W a I- ,t W z g E OQ o �, - - z W C 0 W - t m G) o ,' > 2' gZ (� U C E c° 0 Q w U tom- m Q w > O ego d 0_J W Z O CO F �:Q d d .W N d iL N d (0 • 0 0 0 N N 1CNI CO t:CO r M O) Or Z ^ CO C C c Fes- (0 coccocC0 (0 (0 m Sr C0 coc (0 N 'F h H Department Actual vs Budget-Generic Time Period Business Object Account Cumulative 12 Cumulative 12 Actual Budget Unit Account Description 2019 2019 2000-HRA/ECONOMIC DEVELOPMENT 1010 CASH 257,527.08 2000-HRA/ECONOMIC DEVELOPMENT 1010 CASH-LGA ASSMNT RELIEF 35,000.001 2000-HRA/ECONOMIC DEVELOPMENT 3510 UNRESERVED FUND BALANCE -299,361.64, 2000-HRA/ECONOMIC DEVELOPMENT 4955 I INTEREST ON INVESTMENTS -1,674.46 -2,300.00 2000-HRA/ECONOMIC DEVELOPMENT 5205 'OPERATING TRANSFERS -12,499.98. -50,000.00 2000-HRA/ECONOMIC DEVELOPMENT ,6401 PROFESSIONAL SERVICES 700.00, 11,680.00 2000-HRA/ECONOMIC DEVELOPMENT 6403 1 LEGAL 719.40` 4,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6404 'IT SERVICES 2,079.24, 8,317.00 2000-HRA/ECONOMIC DEVELOPMENT `6422 ELECTRIC 40.19 300.00 2000-HRA/ECONOMIC DEVELOPMENT 6426 INSURANCE 35.67, 130.00 2000-HRA/ECONOMIC DEVELOPMENT 6450 OUTSIDE PRINTING 0.001 500.00 2000-HRA/ECONOMIC DEVELOPMENT '6460 SUBSCRIPTIONS&DUES 1,720.00 2,500.00'. 2000-HRA/ECONOMIC DEVELOPMENT 6470 TRAINING&SUBSISTANCE 435.00. 3,000.00 2000-HRA/ECONOMIC DEVELOPMENT 16485 MILEAGE REIMBURSEMENT 0.00 1,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6492 ADVERTISING 0.00 3,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6570 PROGRAMMING EXPENSE 14,567.00 17,000.00 2000-HRA/ECONOMIC DEVELOPMENT 7310 OPERATING TRANSFERS 712.50 2,850.00 Total 2000-HRA/ECONOMIC DEVELOPM ' 0.00 1,977.00 j 0.00 1,977.00 0.00 1,977.00'. 4/19/2019 3:27:26 PM Page 1 of 1 `` Avi,�► City of Farmington / 430 Third Street Farmington, Minnesota 651.280.6800 -Fax 651.280.6899 '"41,•.4 w', www.cifarmington.mn.us TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Business Retention and Expansion Strategy Update DATE: April25, 2019 INTRODUCTION/DISCUSSION At the March EDA meeting, we reviewed the following items as part of a comprehensive Business Retention & Expansion(BR&E) strategy under the Strategic Plan action item calling for creation of a business needs assessment survey. Direction was given to summarize existing efforts that occur related to BR&E so that the EDA can identify gaps in ways we work to understand the needs of the business community. Attached is a document which summarizes active initiatives in a number of categories related to BR&E. Please review and plan to discuss additional efforts that can be developed to strengthen the EDA's connection with the business community. BR&E strategies are typically focused on two main components—data and relationships. The EDA's marketing plan(2013) speaks mostly to strategic relationships (professional memberships, networking groups,broker connections etc.)to organically compile information on local business needs. This knowledge typically resides with the economic development staff and is not easily transferable. Data can be obtained through several methods including regional surveys (macro trends), localized general business surveys, targeted business surveys, and face-to-face interviews. Each of these methods can have value in understanding the needs of the local business culture. As discussed at our February meeting, a written or phone survey often provides low response rates and limited results with a high cost.At the other end of the spectrum, face-to-face interviews aren't always welcomed by businesses who are often wary of divulging certain types of information to a representative of the city. Staff has proposed a multi-tiered approach to a business needs assessment that can evolve into a sustainable BR&E program. Components include: • Regularly provide the EDA with regionally identified business needs information(sources include DEED, MN Chamber of Commerce, GreaterMSP, Dakota/Scott Workforce Development Board). Additional communication and interaction with both the Dakota County Regional Chamber of Commerce and the Farmington Business Association. Outreach to Farmington businesses requesting face-to-face BR&E visits. o Attached is a best practices request for visit and survey form from GreaterMSP. • Regularly featuring businesses in city communications "business highlights". • Ribbon cuttings/anniversary celebrations/groundbreaking ceremonies. • Specific talking points for EDA members who regularly interact with local businesses. Farmington businesses' needs aren't necessarily specific to Farmington, and regional data can often identify needs for localized programs.At the same time hyperlocal programs (ribbon cuttings)are a very informal way to have conversations with local business owners while celebrating their achievements. ACTION REQUESTED Discuss the attached summary of active BR&E initiatives and provide direction on additional initiatives that should be explored to strengthen the EDA's connection with the business community. ATTACHMENTS: Type Description © Exhibit BR&E Strategy Summary Farmington EDA Business Retention and Expansion Strategy Summary Category Activity Audience and Frequency Relationship Farmington Business Association(FBA)morning networking meetings Farmington businesses-Monthly Ribbon cuttings for new or expanding businesses Farmington businesses-5-10/year Dakota County Regional(DCR)Chamber of Commerce events(Good Day Dakota Dakota County-wide businesses-Monthly County,Legislative Updates etc.) Economic Development Association of Minnesota(EDAM)events Economic development professionals from across the state- Monthly Minnesota Commercial Association of Real Estate Association(MNCAR) Commercial property brokers-Weekly membership and event participation(MNCAR Expo) Miscellaneous business inquiries,start-ups,existing business questions etc. Farmington businesses-Weekly Partnership Dakota County Community Development Agency(CDA)-Open to Business, Dakota County Community Development Directors and CDA Broadband,CDBG programs staff-Bi-monthly MN Department of Employment and Economic Development(DEED)MN Public and private sector economic development Marketing Partners professionals from around the state including state officials- 3x per year Private sector economic development collaborations(Dakota Electric,Xcel Energy) Private sector economic development partners-As needed DCR Chamber of Commerce programs and collaborations(State of the City, Annually(SOTC)and monthly update meetings with DCR monthly update meetings,Chamber Directory) Chamber leadership GreaterMSP site selection responses GreaterMSP staff and national site selectors-As needed Data Dakota/Scott Workforce Development Board updates Monthly DEED employment data and industry trends Monthly GreaterMSP dashboard and on demand data requests As needed Informational EDAM Third Thursday programs and EDAM University educational series Monthly Minnesota Real Estate Journal(MREJ)educational development events Quarterly Business highlights and updates in the Farmington"Currents'newsletter Quarterly Local and regional news stories and updates Daily (041,�► City of Farmington 430 Third Street tcs Farmington, Minnesota 651.280.6800 -Fax 651.280.6899 ., www.ci.farmington.mn.us TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: Marketing and Website Review DATE: April25, 2019 INTRODUCTION/DISCUSSION The 2019-2021 Strategic Plan for Economic Development identifies the first objective as "Expand and Diversify the Tax Base"(pages 6-10). This is one of the key fundamentals of economic development and plays a role in nearly every aspect of the Strategic Plan. Several tactics and actions are identified as ways to address this objective—the second calls for an action of "review and update(as needed)economic development promotional materials". This is in response to the tactic of"Be prepared to receive and effectively respond to inquiries about locating businesses in Farmington. Attached is a document titled"Is Your Community RFI Ready?"provided by GreaterMSP,which outlines a number of criteria site selectors ask questions on as part of a site selection process. Staff will review this information with the EDA and discuss opportunities to strengthen our existing materials or create additional materials. Staff will identify and review a number of items and materials on our website and seek feedback from the EDA on how to best utilize these resources. ACTION REQUESTED Provide feedback on staff's review of the city's economic development information. ATTACHMENTS: Type Description © Exhibit Is Your Community RFI Ready- GreaterMSP Is Your Community RFI Ready? Here are common requests in RFIs that your community can prepare in advance of the project. Communities that are able to prepare site and community information in advance of receiving an RFI will be better prepared to meet the tight turnaround times expected by companies and consultants. SITES AND BUILDINGS ZONING AND PERMITTING v/ Site size shape and dimensions ✓ Permitted and conditional uses 11,7 Impediments to development and plan for v/ Process, timeline and necessary approvals for mitigation zoning and/or comp plan changes VI Building size, height, floor thickness v/ Zoning and land uses surrounding the site V Ownership/control and asking price/lease rate, V Forms, fees, and timeline for all applicable or terms of purchase option permits TRANSPORTATION UTILITIES 7 Service provider names and contact info v/ Service provider names and contact info V Access roads, cost and schedule of upgrades I Cost and schedule of extensions and upgrades • Distance to nearest 4-lane highway(s) and v/ Voltage of electric lines serving site interstate(s) ✓ Size/pressure of natural gas lines serving site v/ Rail access, cost and schedule of upgrades v/ Size and capacity of water and wastewater lines V Distance to nearest commercial service airport serving site and system capacity v/ Location and access to public transportation v/ Fiber infrastructure and network options ENVIRONMENTAL VISUALS A/ Phase I environmental site assessment v/ Aerial photograph with site boundaries Geotechnical assessment USGS topographic map with site boundaries ✓ Wetland delineation v/ FEMA floodplain map with site boundaries V Archaeological/Cultural resources V Z• oning and comp plan maps v/ Protected species v/ U• tility infrastructure map County soils survey TAXES INCENTIVES V State and local tax rates v/ Business subsidy policy Property tax statement V Policy to support state incentives ✓ Property tax districts and special assessments v/ TIF, tax abatement, revolving loan fund v/ Instructions on how to calculate property tax policy and procedures Local utility incentive policy WORKFORCE v/ List of largest employers in the county v/ List of recent closings or layoffs List of largest manufacturers in the county v/ Technical college enrollment, graduation and v/ List of recent project announcements training resources GREATER MSP' Minneapolis Saint Paul Regional Economic Development Partnership DATA AND RESOURCE GUIDE Tools to Evaluate Site Conditions • FEMA Flood Map: http://msc.fema.gov/portal • National Wetlands Inventory: https://www.fws.gov/wetlands/data/mapper.html • USGS Quadrangle Map: https://viewer.nationalmao.gov/advanced-viewer/ • Species Report from the U.S. Fish and Wildlife Service's Information, Planning, and Conservation System (I PaC): https://ecos.fws.gov/ipac • Soil Survey: https://websoilsurvey.sc.egov.usda.g_ov/App/WebSoilSurvey.aspx • EPA-NEPA: https://nepassisttool.epa.gov/nepaassist/nepamap.aspx Tools to Evaluate Transportation and Accessibility • Bureau of Transportation Statistics: https://www.bts.gov/ • Bureau of Transportation Statistics GIS: http://osav-usdot.opendata.arcgis.com • U.S. DOT Mapping Applications: https://maps.bts.dot.gov/AppGallery • MnDOT GIS: http://mndotgis.dot.state.mn.us/basemap/ Tools to Evaluate Workforce • Census Bureau, American FactFinder (Population and Demographics): https://factfinder.census.gov/faces/nav/1sf/pages/index.xhtml • Bureau of Labor Statistics, QCEW (Employment by Industry): https:/lwww.bls.gov/cew/ • Bureau of Labor Statistics, LAUS (Labor Force, Unemployment Rate): https://www.b1s.govilau/ * Bureau of Labor Statistics, OES (Employment and Wages by Occupation): https://www.bls.gov/oesl • MN DEED Data Center (Local and State): https://mn.gov/deed/data/ GREATER MSP is your Data and Intelligence Partner The GREATER MSP Research Team is available to help you get RFI-Ready! Contact us for support as you prepare your community for business attraction, retention, and expansion projects. Examples of the types of data support and reports that can be provided: • RFI response materials • County-level real estate analytics • Site and building inventory analysis • Business lists • Custom site-based labor shed profiles • Economic impact analysis • Custom drive-time demographics • Regional education & workforce characteristics Contact Us Amanda Taylor Maurice Harris Frances Huntley Director of Research Research Manager Research Analyst 651.287.5804 651.287.1369 651.287.5814 amanda.taylor@greatermsp.org maurice.harris@greatermsp.org frances.huntley@greatermsp.org GREATER MSP Minneapolis Saint Paul Regional Economic Development Partnership 7- It, Riftv City of Farmington 430 Third Street ��`� Farmington, Minnesota 651.280.6800 -Fax 651.280.6899 •,.,,,,, *6 www ci.farmington.mn.us TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: April Director's Report DATE: April 25, 2019 INTRODUCTION/DISCUSSION 2019-2021 Strategic Plan for Economic Development As noted at our meeting in February, there will be an update each month on the status of items in the 2019- 2021 Strategic Plan for Economic Development. The plan and summary sheet are attached. Highway 3 Corridor Plan Staff will provide an update on the Highway 3 Corridor Plan and outline next steps as we move toward presenting a draft plan in the near future. CDBG Update We were informed by the Dakota County Community Development Agency that HUD has released their FY2019 allocations and noted a 2.8% decrease from 2018. Our final allocations per activity are now the following: Home Improvement Loan Program-$20,588 Public Service— Senior Services - $5,000 Commercial Building Rehab - $13,961 Riste Lot Update I will provide the EDA with an update on the potential sale of the Riste lot including my most recent communications with the potential buyer. Miscellaneous Articles Farmington business offers sweet treats, retro arcade games—Farmington Independent DEED Employment Report—April CDA Foreclosure Update NEXT MEETING Our next regular meeting is May 23rd at 6:30 p.m. ACTION REQUESTED None,this report is intended to be a monthly update on various development and industry related topics. ATTACHMENTS: Type Description a Backup Material Farmington business offers sweet treats, retro arcade games— Farmington Independent D Backup Material DEED Employment Report-April D Backup Material CDA Foreclosure Update o Backup Material CDA Foreclosure Update Stats o Backup Material 2019-2021 Strategic Plan for Economic Development o Backup Material Strategic Plan Summary and Status Report 4/9/2019 Farmington business offers sweet treats, retro arcade games I Farmington Independent INDEPENDENT Farmington business offers sweet treats, retro arcade games By Kara Hildreth Today at 4:00 p.m. te. �' ,''` `+tea ' ,, _ .1 , i -,'217,,,,,,,,,,,,...,..--.:--r, .. , , :P p ,„ Fa`'4" k i. i s qC ar"; Chill Ice Cream Studio is now serving sweet treats in a new remodeled ice cream parlor with a retro'80s arcade gaming space. Owner Chris Kulus and his children, Sophia and Isaac,will work at the family business in downtown Farmington. Kara Hildreth/Contributor FARMINGTON — Chill Ice Cream Studio aims to become a place where guests can relax with scoops of sweet treats and serious fun playing retro arcade games. Owners Chris and Jenny Kulus opened the ice cream parlor April 5 with a grand opening and ribbon cutting. The storefront is remodeled inside the former Cow Interrupted storefront in downtown Farmington at 408 Third St. https://www.farmingtonindependent.com/business/4596175-farmington-business-offers-sweet-treats-retro-arcade-games?fbclid=lwAR2UKHUHfniFWU... 1/3 4/9/2019 Farmington business offers sweet treats,retro arcade games I Farmington Independent A bright, light blue interior looks modern with paint and icy-looking light fixtures along with a modern silver metal sign in the shape of an ice cream cone. There is a bank of cushioned, comfy booths and many tables. A retro Chill Arcade offers a blast-from-the-past 1980s arcade game experience. This marriage could mean eating a scoop or two of Superman ice cream followed up with a game of Pac Man, or indulging with a dish of Coconut Almond Bliss ice cream before playing a few Ms. Pac Man games. The shop changed ownership in November 2018 when the couple decided to invest in the ice cream shop after the former owners planned to close. "We talked about it and then it was a done deal," Chris Kulus said. Kulus said he is personally all about small business and entrepreneurship as a former president of Farmington Business Association. After years of working in IT, Kulus decided to pivot when he became an entrepreneur. "I said there is value here and especially with ... social media," Kulus said. "He (the previous owner) had a great following and the customers very loyal. I have built some businesses based on social media so it was a great fit." As an entrepreneur who offers coaching and operates a business-to-business consulting firm in addition to operating his own Burnsville business, Kulus looks forward to collaborating with small businesses in Farmington. "I have a good feeling for the business community and have helped to establish relationships with the high school, different organizations and businesses, and I have already had multiple businesses reach out and say they want to collaborate," he said. The mom and pop ice cream parlor will be a family affair and the couple's two teenage children, Sophia and Isaac will work with customers. Isaac will be in charge of the weekly arcade gaming contests on social media called "Beat Ike 4 Ice Cream." The backroom Chill Arcade offers an entertainment venue for families to play and young people to hang out. https://www.farmingtonindependent.com/business/4596175-farmington-business-offers-sweet-treats-retro-arcade-games?fbclid=lwAR2UKH UHfniFWU... 2/3 4/9/2019 Farmington business offers sweet treats,retro arcade games I Farmington Independent As a 1980s kid, Kulus began collecting arcade games as an adult and as a fun hobby. That hobby grew into an investment of time where he has restored and refurbished 25 retro arcade games in his family basement. "These were 40-year-old machines that had smoke, pop and dirt and were hidden in barns and I found them and cleaned them up so they look brand new," Kulus said. The Chill Arcade offers eight classic games like the popular Pac Man, Donkey Kong, Star Wars and Ms. Pac Man. Chill Ice Cream Studio plans to be open for Dew Days and the summer car shows. The business will be open year-round and may offer a hot chocolate bar or coffee during the chilly months. "We really just want to engage the community, sporting teams and that is our goal to give back as much as possible," Kulus said. https://www.farmi ngtonindependent.com/business/4596175-farmi ngton-business-offers-sweet-treats-retro-arcade-games?fbclid=lwAR2 U KH U HfniFWU... 3/3 Adam Kienberger From: DEED Communications <MNDEED@public.govdelivery.com> Sent: Thursday,April 18, 2019 10:02 AM To: Adam Kienberger Subject: Minnesota adds 1,300 Jobs in March For Immediate Release Contact:Shane Delaney April 18,2019 651-259-7236 Previous Announcements shane.m.delaney@state.mn.us Steve Hine 651-259-7396 Steve.Hine@state.mn.us Minnesota adds 1,300 Jobs in March "'Unemployment rate at 3.2 percent"' ST. PAUL—Minnesota gained 1,300 seasonally adjusted jobs in March while the state's seasonally adjusted unemployment rate increased to 3.2 percent according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).The U.S. unemployment rate was 3.8 percent. Minnesota total over-the-year growth rebounded back into positive territory in March as employment was up 7,605 or 0.3 percent over last March. 1 February's seasonally adjusted job loss was reduced through revisions by 1,000 jobs to 7,800 jobs lost. "Unemployment insurance claims remained steady last month—in spite of the rising unemployment rate," said DEED Commissioner Steve Grove. "This suggests that Minnesotans may be looking for better employment opportunities." Six of eleven major industry sectors lost jobs during the month. With manufacturing showing the largest overall loss of 1,100 jobs and construction showing the largest gain with 2,800 job gained.All other sectors changed up or down less than 1,000 jobs, including leisure and hospitality (up 600),financial activities (down 600), education and health care (down 600), professional and business services (down 400), information (down 400),trade, transportation and utilities (up 300), mining and logging(up 100) and government (down 100). Three out of the five Metropolitan Statistical Areas (MSAs) had over-the-year growth with St. Cloud MSA leading at 1.6 percent growth followed by Rochester MSA(up 1.3 percent) and Mankato MSA(up 0.2 percent). Minneapolis-St. Paul MSA remained stable while Duluth- Superior MSA was down 0.5 percent. Use the link to see DEED's alternative measures of unemployment. DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services,visit the DEED website or follow DEED on Twitter. Seasonally Adjusted Not Seasonally Adjusted Unemployment February March 2019 March 2019 March 2018 Rate 2019 Minnesota 3.2 3.1 4.1 3.6 ry U.S. 3.8 3.8 3.9 4.1 2 February March'18'19 level of March'18'19%level of Employment March 2019 2019 Change Change Minnesota 2,908,398 2,904,274 7,605 0.3 U.S. 150,816,000 150,620,000 2,483,000 1.7 : MN OTY Job MN OTY Growth US OTY Growth Change Rate Rate Total nonfarm 7,605 0.3 1.7 Total Private 8,127 0.3 1.8 Logging and Mining -4 -0.1 4.8 Construction 8,415 8.1 4.1 ` Manufacturing -1,416 -0.4 1.5 Trade,Transport. and -2,288 -0.4 0.2 Utilities Information -1,720 -3.5 2.0 Financial Activities 2,214 1.2 1.0 Prof. and Business Services 409 0.1 2.5 Ed. and Health Services -3,669 -0.7 2.4 Leisure and Hospitality 5,412 2.1 2.7 Other Services 774 0.7 1.2 Government -522 -0.1 0.8 t. 3 OTY Employment Change (#, OTY Employment Change (%, Metropolitan Statistical Area NSA) NSA) Minneapolis-St. Paul MN-WI -76 -0.0 MSA Duluth-Superior MN-WI MSA -614 -0.5 Rochester MSA 1,551 1.3 St. Cloud MSA 1,709 1.6 Mankato MSA 138 0.2 -30- Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161. Questions?Contact Us L , LIy' LI SUBSCRIBER SERVICES: Manage Preferences I Help DEED is an equal opportunity employer and program provider. This email was sent to akienberger@ci.farmington.mn.us using GovDelivery Communications Cloud on behalf of:Minnesota Department of Employment and Economic Development•332 Minnesota Street Suite E-200 Saint Paul,MN 55101 •(800)657-3858 © ===—"----- 4 [7.0044. Dakota County no Community Development Agency CDA To: Dakota County Cities From: Maggie Dykes Date: April 16, 2019 Re: Foreclosure Update Dakota County Stats—February 2019 • #of Sheriff Sales in February— 17 (compared to 15 in February 2018) • # of Notices of Pendency Filed in February—50 Dakota County Stats—March 2019 • #of Sheriff Sales in March —9 (compared to 24 in March 2018) • #of Notices of Pendency Filed in March —75 A Notice of Pendency is filed by a mortgage company's attorney as official notification that the foreclosure process has begun. Not all of these result in Sheriff Sales. Mapping Using Dakota County GIS http://gis.co.dakota.mn.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the Foreclosures and Notice of Pendency layers on a monthly basis. If you need assistance using this Web page, please call Randy Knippel or Mary Hagerman with the Office of GIS at (952) 891-7081. If you have any concerns, please call me at (651) 675-4464 or send me an email at mdykes(a dakotacda.state.mn.us. M N N N N C C N N N 01 ci N a-I N V1 Ql O m - C .1 ,-t ,--1 C 1, N .1 N CO CO N e-I C .-I N a1 m C CoM m N C O N M N N e-1 .1 1 c-I . N .-I N • Co ey▪ 10 00 N N In N N N C In N N .--I N CO IO Co N O N N C I11 Co 01 N O. u CU a1 N N M Co Co 0 0 O 0 .1 Owl z N C C C' 0 •u • O Co N N 10 In If) N .u� - N • 0 ul v >` C. 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L P y O O al vi V O a s o Ln z n o = ri e0 m C In O o m 3 Q o v L E V v L O oto Q O O aso U -0 N v5' Y OO N so a o y f0 C3 ° 3 C CO C E :2 O a T C f0 0 u g w 2 OO c Ti E b- ,_ a 0 a O m .,?,- 64 Q > O t0 C Q C E E CN co V1 00 ri O1 H l0 00 M M ^ C O G „Cr 0 E ai [ O 2 2 a E N N m O H O 00 0 0 to ti 00 V C 01 N L.0 N O O N M 1-1 ° O >> C E E CN - c0 O LL a c O .0 0 >, 0v N O A 6 M ti co v M Lo m m Qo m N o v 'n O C , 0 0 0 0� Ti `>' c, 00< C v > \� CU r — v a p0 a O E v 0 a v v 0 0 U _ • o v ra 0 o O W Uco w E m• ,C o O O y U Z 0 Y d E E O O cC N 0 Z V Q CO U Ll S J c , 3 u, O OZ 0 Strategic Plan 2019 - 2021 Farmington Economic Development Authority a w. r 1 4 i`<,',,' "•,4,441,447,--ftr-t-' tevo.,,,.., s , , - / ti� pi r ,. ti �. 4.4004444.04 January 2019 A NORTHLAND .ter,: PUBLIC FINANCE EDA Strategic Plan 2019-2021 CONTENTS Contents 1 Introduction 2 Context 3 EDA Powers 3 Comprehensive Plan 3 City Government 4 EDA Resources 5 Strategic Plan 6 Objective: Expand and Diversify the Tax Base 6 Objective: Encourage development that brings additional goods and services to Farmington 11 Objective: Promote the economic and physical health of older sections of Farmington....12 Objective: Effectively communicate information about the EDA within City government,to the community and to people and businesses outside of Farmington. 13 Objective: Conduct the business of the EDA to maximize its effectiveness 14 January 2019 EDA Strategic Plan 2019-2021 2 INTRODUCTION This document presents the Strategic Plan for the Economic Development Authority(EDA)of the City of Farmington.The EDA Strategic Plan serves several purposes: • The plan articulates the vision,mission and fundamental principles that guide decision making and actions for the EDA. • The plan provides a framework for identifying potential roles for the EDA,prioritizing use of resources and periodically reviewing actions taken by the EDA. • The plan serves as a tool for communicating information about the EDA to the city council,city departments and advisory boards,partner organizations in the economic development community and Farmington residents and businesses. The Strategic Plan focuses on the years 2019 through 2021. imilimmimmilmiNEMMEMMINEN Vision Statement The Economic Development Authority's vision is to improve the economic vitality of the City of Farmington and to enhance the overall quality of life by attracting and retaining businesses, creating partnerships,fostering employment opportunities, promoting workforce housing, business growth, and expanding the tax base through development and redevelopment. Mission Statement Farmington is commerce friendly, responsive, and innovative in the realm of economic development. The Economic Development Authority's mission is to position Farmington as one of Minnesota's most desirable cities to open,grow, and maintain a business. January 2019 EDA Strategic Plan 2019-2021 3 CONTEXT The actions of the EDA do not occur in a vacuum,but within the context of city government and development forces that affect Farmington and the region. Understanding this context is an important element of creating and implementing the strategic plan. EDA Powers The powers of the EDA come from both State Law and city enabling resolution.The EDA can exercise the powers set forth in Minnesota Statutes,Section 469.090 through 469.108 unless otherwise limited by the city council.The Farmington EDA was established by Resolution R104- 05(the "Enabling Resolution").The Enabling Resolution empowers the EDA to use all statutory authority with the following exceptions: • The sale of all bonds or other obligations issued by the EDA shall first be approved by the city council. • The EDA shall follow the budget process for city departments as may be provided by the city and as implemented by the city council and Administrator. • All official actions of the EDA shall be consistent with the city comprehensive plan and official controls implementing the comprehensive plan. The Enabling Resolution also transferred all activities,programs,operations and authority relating to economic development from the Farmington Housing and Redevelopment Authority (HRA).The EDA is authorized to exercise all of the powers granted to the HRA pursuant to Minnesota Statutes,Sections 469.001 through 469.047. No actions contemplated by the Strategic Plan are impaired by the limitations of State Law or the Enabling Resolution. Comprehensive Plan The Economic Development chapter of the 2040 Comprehensive Plan provides a framework of the activities of the EDA. "The Economic Development Plan (Chapter 9 of the Comprehensive Plan)provides a high level and long- term roadmap for the City of Farmington and its partners (public,private,and nonprofit sectors) to work together to enhance employment, investment and quality of life opportunities that benefit the entire community. The city recognizes that local government has a responsibility for creating an environment in which economic development can occur. This plan also serves to examine and strengthen the city's ability to compete effectively and prosper in both the regional and increasingly global economy." The Comprehensive Plan contains eight(8)economic development goals.As part of the process of creating this Strategic Plan,the EDA validated the importance of these goals for guiding the actions of the EDA.The following list contains the economic development goals in order of the ranking of the EDA Board: January 2019 EDA Strategic Plan 2019-2021 4 1. A three-year Strategic Plan for Economic Development that provides a dynamic and actionable tool for achieving the community's economic development vision. 2. Cultivation of strong relationships between existing businesses and the city to increase business retention. 3. A desirable commercial environment for residents is created through growth from existing and new businesses. 4. Healthy and diversified growth of existing and new businesses to achieve the community's 2030 and 2040 employment projections. 5. Redevelopment of vacant and underutilized properties in older areas to revitalize these vital community areas. 6. Public and private sector reinvestment in downtown to revitalize it as the community's commercial,cultural,and recreational center. 7. Diverse housing options and quality of life amenities that support the needs and preferences of the community's workforce into the future. 8. A well-trained and adaptable workforce is maintained within the community to support the projected business and job growth. These goals provide a useful tool for evaluating EDA activities.How does the activity help to achieve the goals of the Comprehensive Plan?A consistent connection between these goals and EDA activities ensures that the EDA meets its mandate of consistency with the Comprehensive Plan. City Government An essential factor shaping the Strategic Plan is the EDA's fit within the overall structure of the city. The EDA is one of five advisory boards and commissions established by the city council. The EDA is different from any other board in that it has the power and resources to undertake projects in a relatively autonomous manner.State Law designates EDAs as political subdivisions. Farmington Community Community City Council city Development Residents Business Administrator Director 1 Eco,00, OR in MIR WIPP M.OPOPOIP 4P11 www+11�..,...,._.._. . l flat?m,rlr itth^ Eu%1'' The EDA is governed by a 7-member board of commissioners appointed by the city council. Members of the EDA board consist of two city council members,one Independent School District 192 school board member,and four residents. Economic development staff is part of the January 2019 EDA Strategic Plan 2019-2021 5 city's Community Development Department.The Community Development Director serves as the Executive Director of the EDA. This structure combines the dedicated focus on economic development and statutory powers of the EDA with a day-to-day foundation in the core structure of the city. EDA Resources Creating and implementing the Strategic Plan must be done with an eye towards the resources of the EDA.With limited resources,the effective use of resources should be a factor in evaluating current and future activities. Do the potential benefits of the action merit the allocations of EDA resources? The most important resource of the EDA is city staff.The experience and technical skills of economic and community development staff provide the capacity to successfully achieve EDA objectives.The staff resource available to the EDA is a finite commodity. It is also a commodity that serves other functions within city government. January 2019 EDA Strategic Plan 2019-2021 6 STRATEGIC PLAN The EDA Strategic Plan is based on the following Core Strategies: • Attract new businesses that provide jobs,needed goods and services,and tax base • Encourage the retention and expansion of existing business • Encourage revitalization and redevelopment • Manage EDA programs and projects • Be the voice of economic development in city government The Core Strategies guide EDA actions. All actions shall be consistent with one or more of the Strategies. Objective: Expand and Diversify the Tax Base Economic development is not an end itself,but rather a means to achieve certain outcomes.An important outcome in Farmington is to grow the property tax base. Preliminary tax rates for taxes payable 2019 show Farmington with the fifth highest city tax rate for Dakota County cities (over 1,000 population).When all other taxing jurisdictions are included,the total tax rate in Farmington is the highest in Dakota County. Preliminary 2019 Tax Rates 160.00 140.00 120.00 a) 100.00 — m �. t 80.00 k � _ x F— 60.00 — 40.00 I II 20.00 1 II 1 1 ■ ■ ■ ■ ■City Rate All Others Rate Figure 1 Tax base is a key factor in a higher tax rate.A lower tax base means that the city must tax at a higher rate to generate revenue needed to operate the city.A comparison with other Dakota County cities provides some perspective on Farmington's tax base.Figure 2 shows total Pay January 2019 EDA Strategic Plan 2019-2021 7 2019 Taxable Market Value by property classification. Figure 3 compares the distribution of Taxable Market Value among the property classifications. Taxable Market Value Taxes Payable 2019 8,000,000,000 7,000,000,000 6,000,000,000 •All Other 5,000,000,000 ■Agriculture 4,000,000,000 Industrial 3,000,000,000 •Commercial 2,000,000,000 IIE 1 Apartments 1,000,000,000 •Residential Farmington Lakeville Rosemount Hastings Apple Valley Figure 2 Taxable Market Value Taxes Payable 2019 100% ,�;.< -------- .-' .',T ., rrr�rrirrrrri 90% 80% MinirtNEMFEI 70% all U 1111 U ml All Other 60% ■ ■ III ■ ■Agriculture 50% ■ ■ ■ III Industrial 40% 1111 III ■Commercial 30% III IIIApartments III Ell 20% III I ■ ■Residential ■ III 0% Farmington Lakeville Rosemount Hastings Apple Valley Figure 3 January 2019 EDA Strategic Plan 2019-2021 S • Hastings has less Taxable Value than Farmington($1.52 billion to$1.74 billion). However,the portion of the total tax base in commercial and industrial property is more than double in Hastings(11%)in comparison to Farmington(5%). • The commercial/industrial share of the tax base in the comparison cities ranges from 9.66% in Apple Valley to 11.24% in Rosemount. • Rosemount provides a good contrast to Farmington.T e cities have similar populations (Farmington 22,421 -Rosemount 23,956),but Farming on has 29% less tax base.Total Taxable Market Value per capita in Farmington is$87,.:66 and$116,100 in Rosemount. Growing and diversifying the tax base has a variety of benefi A growing tax base gives the city more flexibility in funding services and capital improvem•nts.This flexibility would likely extend to the EDA budget.The demands for operating reven es may limit the ability to lower the tax rate,but a growing tax base lessens the need to raise r.tes. Growing the tax base is one of the only means available to the city to promote reductions i other parts of the total tax rate. A diversified tax base changes the impacts of economic down, ms as value changes vary among property types.Commercial and industrial developm: t make different use of city services than residential with the potential for comparably les. pressure to increase services and spending. EDA efforts to grow the tax base must be done thoughtfully . d strategically.The Minnesota property tax system affects the ability of the city to realize gro th in the tax base from new development.40% of all new commercial-industrial value goe. into the Fiscal Disparities Pool and is not available for local taxation.The use of tax incremen financing(TIF) or tax abatement defers the benefits of new tax base until the financial assistanc- ends.Property class rates set by the Legislature convert the Assessor's Estimated Market Valu: to Tax Capacity (taxable)value at different rates. Figure 4 illustrates these points.This chart compares the Tax I apacity value available to the city (and other taxing jurisdictions)from alternative development •f 100 acres. January 2019 EDA Strategic Plan 2019-2021 9 Tax Capacity From Alternative Land Uses Industrial Retail Single Townhome Acres 100 100 100 100 Lot Coverage/Density 30% 30% 3 6 Development(SF or Units) 1,306,800 1,306,800 300 600 EMV per SF or Unit 65 125 330,000 330,000 EMV 84,942,000 163,350,000 99,000,000 198,000,000 Tax Capacity 1,698,090 3,266,250 990,000 1,980,000 Fiscal Disparities 40% 40% 0% 0% Net Local Tax Capacity 1,018,854 1,959,750 990,000 1,980,000 2,500,000 2,000,000 a - 1,500,000 > .Z5 03 CI U x 1,000,000 I- 500,000 0 - Industrial Retail Single Townhome Figure 4 Expansion of the tax base also comes from within.The Economic Development chapter of the Comprehensive Plan notes that"research from numerous sources shows that existing businesses create 60%-90% of all new economic growth in a community".A focus on local businesses is a more efficient means of expanding the tax base. Resources applied to business expansion are more likely to yield returns than using the same resources to compete with other cities. Resources are applied to businesses already in Farmington rather than competing with January 2019 EDA Strategic Plan 2019-2021 10 other cities.The use of financial incentives(if needed) is typically lower and more closely aligned with project need. Tactics 1. Create and maintain strong relationships and lines of communication with local business to identify opportunities for the EDA to enhance success and encourage expansion. 2. Be prepared to receive and effectively respond to inquiries about locating businesses in Farmington. 3. Make use of tax increment financing and tax abatement,pursuant to city policies,to achieve the objectives of the Strategic Plan. 4. Use tax increment financing and tax abatement only when the benefits received from the development outweigh the deferred tax base. 2019 Action Plan 1. Create and conduct a comprehensive business needs/assessment survey. 2. Review and update(as needed)economic development promotional materials. January 2019 EDA Strategic Plan 2019-2021 11 Objective: Encourage development that brings additional goods and services to Farmington Building and maintaining a strong core of commercial development is important to Farmington. When necessary goods and services are not available locally,residents travel to other cities to shop.These trips often result in additional shopping that could have occurred in Farmington. The EDA seeks to encourage commercial development that reduces this out-migration and complements existing businesses. The EDA has limited control over the type and pace of commercial development. Market forces tend to be the primary force in commercial growth. In that regard,commercial development and job growth are directly related. New,well-paying jobs located in Farmington may produce the demand for new housing.These new"rooftops" create the market sought by commercial development. The EDA can facilitate commercial development by providing desirable business districts. Farmington has a history of creating community plans for such business districts.Plans for Vermillion River Crossing and Downtown Farmington provide the framework for public and private investment. In 2019,the city will be completing a plan for development in the Highway 3 Corridor.The ongoing implementation of these plans is an important EDA objective. Tactics 1. Attract new businesses that produce jobs that are likely to create or retain households and expand the local market for new commercial development. 2. Prepare and implement plans that provide desirable locations for new commercial development. 2019 Action Plan 1. Continue to work with brokers and land owners to attract developments to Vermillion River Crossings area. 2. Create ongoing means of communicating actions related to the implementation of the Downtown Redevelopment Plan to the EDA. 3. Play an active role in the completion of the Highway 3 Corridor Study and seek effective implementation strategies. January 2019 EDA Strategic Plan 2019-2021 12 Objective: Promote the economic and physical health of older sections of Farmington. One of the Economic Development Goals of the Comprehensive Plan is"redevelopment of vacant and underutilized properties in older areas to revitalize these vital community areas".In reality,there are two aspects to redevelopment.The most effective strategy is to promote the economic and physical health of the community to avoid the need for redevelopment.If the need for redevelopment exists,however,it is important to prevent blighting conditions to spread to other properties. The EDA has taken a proactive approach to redevelopment by creating plans for the Downtown and the Highway 3 Corridor.These plans provide a framework for public and private investment. Implementation of these plans is not the sole responsibility of the EDA.The EDA must coordinate its efforts with the city council,planning commission and other stakeholders. Tactics 1. Engage on a consistent basis with the planning commission to share goals and develop strategies. 2. Support the outcomes and implementation of the Highway 3 Corridor Plan. 3. Review and promote existing programs that target key areas. 2019 Action Plan 1. Schedule quarterly joint work sessions with the planning commission and semi-annual work sessions with the city council to align priorities. 2. Complete and identify initial implementation steps of the Highway 3 Corridor Plan. 3. Meet with Dakota County CDA staff(or invite to EDA meeting)to discuss programs. January 2019 EDA Strategic Plan 2019-2021 1 Objective: Effectively communicate information about the EDA within city government, to the community and to people and businesses outside of Farmington. Communication is an essential function of the EDA. Communication with the city council promotes collaboration on shared objectives and builds the foundation for the financial resources required by the EDA.Communication with the community explains the work of the EDA,highlights the positive impact on the community and offsets potential misinformation. Communication informs the business community,both within and outside of the community, about the opportunities to do business in Farmington and the assistance available from the EDA. The city's website is the most important communication tool for the EDA.The website is the place people look for information about the EDA.Farmington's online presence for economic development should be guided by several factors: • Information about the EDA and economic development in Farmington must be easy to find on the website. • The information on the website must be useful. • The form and content of the pages devoted to economic development should convey a positive message that creates interest in Farmington. Tactics 1. Utilize the city's website as the primary point of information about the EDA and economic development in Farmington. 2. Ensure that the website contains useful information for businesses evaluating potential development in Farmington. 3. Make use of the newsletter and other ongoing city communications to provide information about the EDA. 2019 Action Plan 1. Review other websites to identify elements that could be incorporated into Farmington's website. 2. Review and enhance the city's webpage(s)related to Economic Development. 3. Develop one or more new communications tools to relay the messages and work of the EDA. 4. Shift the monthly"Director's Report"in the EDA packet to a more public-facing newsletter. 5. Develop a social media strategy to promote the work of the EDA. January 2019 �� EDA Strategic Plan 2019-2021 14 Objective: Conduct the business of the EDA to maximize its effectiveness. While this objective seems obvious,it is important to make it a stated objective of the Strategic Plan.The EDA operates with limited resources in terms of funding,staff time and board responsibilities.All decision-making must consider the effective use of these limited resources. Tactics 1. Provide consistent information to the EDA about its financial condition and existing obligations. 2. Provide the EDA with consistent updates on the status of the action plans for the Strategic Plan and other ongoing initiatives of the EDA. 3. 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