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06-27-19
AGENDA REGULAR ECONOMIC DEVELOPMENT AUTHORITY MEETING June 27, 2019 6:30 PM Room 170 Hannah Simmons, Chair; Steve Wilson, Vice-Chair Katie Bernhj elm, 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 (May 23, 2019, Regular Meeting) (b) Monthly Financial Statements 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS (a) Downtown Facade Improvement Grant Program Application 510 Willow Street (b) EDA Website Materials Update 9. DIRECTOR'S REPORT (a) June Director's Report 10. ADJOURN io�FaRM, City of Farmington Ilia 430 Third Street . `%'^`--`z Farmington,Minnesota \::::„,,...,: i i 651.280.6800.Fax 651.280.6899 www.ci.farmington.mn.us TO: Economic Development Authority FROM: Cynthia Muller, Administrative Assistant SUBJECT: Meeting Minutes (May 23, 2019,Regular Meeting) DATE: June 27,2019 INTRODUCTION/DISCUSSION Please find attached the draft meeting minutes from the May 23, 2019, EDA meeting. ACTION REQUESTED Approve the May 23, 2019, EDA minutes. MINUTES ECONOMIC DEVELOPMENT AUTHORITY Regular Meeting May 23, 2019 1. CALL TO ORDER The meeting was called to order by Chair Simmons at 6:30 p.m. Members Present: Simmons, Bernhjelm, Butterfield, Craig, Jolley, Wilson Members Absent: Cordes Also Present: Adam Kienberger, Community Development Director; Tony Wippler, Planning Manager; Dirk Rotty, Planning Commission; Eric Maass, WSB; Kristen Moen, WSB; Kara Hildreth, Farmington Independent 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA MOTION by Jolley, second by Bernhjelm to approve the Agenda. APIF, MOTION CARRIED. 5. CITIZEN COMMENTS/PRESENTATIONS 6. CONSENT AGENDA MOTION by Jolley,second by Wilson to approve the Consent Agenda as follows: a) Approved Meeting Minutes April 25, 2019, Regular Meeting) b) Received Monthly Financial Statements APIF,MOTION CARRIED. 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS a) Highway 3 Corridor Draft Plan Review Ms. Kristen Moen presented the draft TH3 Corridor Plan. There were hundreds of comments on line as well as interviews with business owners about the current conditions. Issues raised include the large amount of individual access points and the fact there are multiple municipalities that can complicate the process. Other issues brought up were transportation and safety, lane reduction at Main Street and no intersection control at CR66 and the number of uncontrolled intersections. Mr. Eric Maass stated there are three areas at 209th Street, Larch Street and Farmington Center. These are opportunities to put our best foot forward in terms of future redevelopment. At 209th Street, commercial office space would be anticipated. It would require two property owners being annexed into the city. Regarding the residential property at 209th and TH3,the property owner is in EDA Minutes(Regular) May 23,2019 Page 2 favor of annexation. Accesses would be pulled off of TH3 and rerouted to 209th Street in line with Tamarack Center. At Larch Street, a one-story building is shown facing TH3. It would require removal of the car wash station and the used car facility. Farmington Center is two parcels,just under five acres. Residential properties north of Farmington Center would be rezoned to high density residential with the hope of redevelopment of a high density apartment unit. All redevelopment on TH3 would be voluntary on the part of the owners. Mr. Maass noted the building is along TH3 and the parking is in the back. Members preferred parking in the front. Mr. Maass reviewed the strategies under goal 1: Improve the attractiveness and visual cohesiveness of the corridor. 1. Develop design standards for the TH3 corridor that guide future redevelopment 2. To engage with property owners to clean up nuisance properties through proactive code enforcement 3. Consider development of an incentive program for TH3 properties similar to the downtown façade improvement program Member Butterfield asked about budgeting for the incentive program. Staff stated if it is a strong priority of the city council, it can be a directive from them and worked into the annual budgeting process. We also have to keep in mind the EDA does maintain their own fund balance so it can be programmed internally. Member Simmons asked if there is proactive partnership with Empire Township for those nuisance properties that don't fall under the city. Staff stated not at this point. Regular meetings are held with Empire and that can be addressed. We wanted to get this document established first and then work with them. Strategies under goal 2: Facilitate redevelopment and support a vibrant corridor 1. Review existing land use designations and update them to reflect a corridor that emphasizes a mix of uses. Strategies under goal 3: Implement signage and wayfinding along the corridor that drives visitors to downtown Farmington A big goal of this plan was to not compete with downtown, but rather to compliment downtown. 1. Design and build gateway/corridor monuments,public art or wayfinding that encourage visitors to explore downtown Farmington. Strategies for goal 4: Evaluate opportunities for better functionality and safety for vehicle traffic and continue to plan for accessible, continuous, and separated bikeways and sidewalks. 1. Implement the city's bikes and sidewalks citywide master plan in the Highway 3 corridor 2. Identify areas where city sidewalks and trails require upgrading or resurfacing EDA Minutes(Regular) May 23,2019 Page 3 3. Support and actively participate in future MnDOT and Dakota County efforts regarding technical analysis of the corridor Member Simmons asked if there is a role we can play in actively advocating continually and not wait for them to reach out to us. Staff stated a lot of that occurs at the staff level such as with the bike/ped plan. Some preliminary recommendations will come out of that. Part of what is driving this is the turn lane to be installed next year at 209th Street. Member Butterfield asked what projects would be done each year and what is the timeline? Mr. Maass stated this has to get on MnDOT's CIP and that is based on what dollars they get from the state government and that is based on priorities. Staff noted TH3 is not a large priority for them. Mr. Maass noted there is a mill and overlay planned for 2027 at the very south end of TH3, not in this project area. They will be made aware of it and as development occurs they will want to know the number of trips generated and that may increase their metrics. Member Simmons asked if we should contact Representative Garofalo and Senator Little about the situation. Staff stated it is never a bad idea to communicate with your elected officials. Mr. Maass reviewed land use. The residential property at the corner of 209th Street and TH3 is recommended to be guided from low density residential to commercial to facilitate future redevelopment of that corner. Behind the Dairy Queen there are three residential homes and the recommendation would be to guide that from low density residential to commercial to facilitate redevelopment of that corner. South of that,there is a recommendation from low density residential to commercial. Just off TH3 at Maple, guide those four low density residential homes to high density residential, which would be the same land use designation as the current apartment complex. On the west side of TH3,just north of K&K Auto Ranch, guide those residential properties for commercial. Letters were sent specifically to each of the properties proposed for land use rezoning and had meetings with many of them. A big question was taxes. The tax role is based on classification which is based on the actual use, regardless of what the property is zoned for. If there is a residential home on the property, your classification is residential. Your value is based on its highest and best use. As long as the home and the lot valuation has a higher valuation than that same lot being commercial,the valuation remains with its highest and best use which is residential. There would be no change in taxable value or in the tax statement. The assessor was sent each of the property ID's and he said based on the recommendations, he did not foresee any of the properties having a change in their tax statements if this were to go through as presented. Member Bernhjelm asked if this is currently in the 2040 comp plan or does it have to be adopted in order for it to get changed in the comp plan. Staff stated it will almost be done at the same time. This is coming out of the April 8, 2019, work session. The intent depending on comments tonight, is this moves to the June 3, 2019, City Council meeting. Ideally this gets adopted by the City Council EDA Minutes(Regular) May 23,2019 Page 4 and we are able to roll these recommendations into our draft,to be submitted, 2040 comp plan. The comp plan approval was extended to the end of June. Mr. Maass stated with each of these properties, if they were to be rezoned,they can continue to be used as residential properties for as long as those property owners choose to do so. They would become lawful, non-conforming uses. If they want to expand their footprint, they would need a variance from the Planning Commission. They can also sell it to another person as a residential use. Mr. Maass reviewed the zoning recommendations which fall in line with the land use recommendations going from residential to high density. Staff explained this is part of the comp plan process. We have nine months after the City Council adopts the comp plan for the zoning code to be in compliance with the comp plan. Member Butterfield asked if the designation to high density residential was due to the lack of high density residential or aesthetics. Mr. Maass stated the reason was to assist in supporting future redevelopment of Farmington Center. Next Mr. Maass reviewed proposed ordinance revisions. For the proposed B-1 highway district, currently the ordinance requires a maximum 25% lot coverage, we are recommending that be up to 40%to promote larger footprints,reduce outdoor storage and be competitive with other communities. The removal of the auto repair/minor sales is an allowed use in the B-1 highway district with the intent to reduce the amount of outdoor storage and increase overall visual aesthetics. The EDA was in support of this recommendation. Mr. Maass stated we should retain a high density residential zoning district with a density minimum of at least 12 units/acre to support future commercial growth. Regardless of the base zoning, an overlay district is a tool to require additional performance standards regardless of actual zoning district or use. We are proposing an overlay district for TH3 to help unify the district with future redevelopment. Mr. Maass reviewed the allowed exterior materials for new commercial and multifamily residential use. Materials would be similar to the downtown. There are also commercial signage standards along with lighting requiring all fixtures be downcast. Mr. Maass reviewed the market study which includes drive times,trade area and market review. Next, Mr. Maass talked about implementation of this plan. The TH3 incentive program is the one we have the most availability to and can enact right away without the need for new redevelopment into the corridor. It can be a grant, a loan or a forgivable loan. Tax increment financing or tax abatement is also an option. Staff stated within the past three years we created and updated our tax incentive policies based on our business subsidy policy. Grant funding can also EDA Minutes(Regular) May 23,2019 Page 5 come through DEED, MN Job Investment Fund, MN Job Creation Fund, etc. There are also CDBG funds from the CDA. Part of the implementation plan is transportation. The plan includes 0 to 5 year projects, 0 to 10 year projects, and ongoing projects. Member Simmons was very pleased with this plan stating it went above and beyond. Member Wilson asked about communication between staff and the county in terms of establishing the dialogue, who leads that from the city. Is it driven by staff,the EDA or the City Council? Staff stated part of staffs role is to maintain a relationship with the other jurisdictions mainly through engineering and public works. Member Bernhjelm stated the City Council has had MnDOT in meetings with Empire for other projects and it is a continuation of inviting them to the table. MOTION by Wilson, second by Butterfield to forward the plan to the City Council June 3,2019, meeting to recommend adoption. APIF, MOTION CARRIED. Member Bernhjelm suggested when it is presented to City Council one of the notes that should be included is where does it live once it has been adopted and the next steps. Providing some details in a public meeting would be helpful. 9. DIRECTOR'S REPORT a) May Director's Report A ribbon cutting was held for Spruce Valley Payroll, Wild Fig Marketing and SOL-IS Technology Solutions. Revisions to the website will be reviewed at the June meeting. 10. ADJOURN MOTION by Bernhjelm, second by Wilson to adjourn at 7:52 p.m. APIF, MOTION CARRIED. Respectfully submitted, Cly.vt.thIA Mu.LLer Cynthia Muller Administrative Assistant 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 262,440.23', 2000-HRA/ECONOMIC DEVELOPMENT 1010 CASH-LGA ASSMNT RELIEF 35,000.00 2000-HRA/ECONOMIC DEVELOPMENT 3510 UNRESERVED FUND BALANCE -299,361.64 2000-HRA/ECONOMIC DEVELOPMENT 4955 INTEREST ON INVESTMENTS 2,835.58 -2,300.00 2000-HRA/ECONOMIC DEVELOPMENT 5205 OPERATING TRANSFERS -24,999.96 -50,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6401 PROFESSIONAL SERVICES 700.00 11,680.00 2000-HRA/ECONOMIC DEVELOPMENT 6403 LEGAL 719.40 4,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6404 IT SERVICES 4,158.48 8,317.00 2000-HRA/ECONOMIC DEVELOPMENT 6422 ELECTRIC 91.73 300.00 2000-HRA/ECONOMIC DEVELOPMENT 6426 INSURANCE 71.34 130.00 2000-HRA/ECONOMIC DEVELOPMENT 6450 OUTSIDE PRINTING 0.00 500.00 2000-HRA/ECONOMIC DEVELOPMENT 6460 MEMBER DUES&LICENSURE 1,720.00 2,500.00 2000-HRA/ECONOMIC DEVELOPMENT 6470 TRAINING&SUBSISTANCE 750.00' 3,000.00 2000-HRA/ECONOMIC DEVELOPMENT 6485 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 20,121.00 17,000.00 2000-HRA/ECONOMIC DEVELOPMENT 7310 OPERATING TRANSFERS 1,425.00 2,850.00 Total 2000-HRA/ECONOMIC DEVELOPM 0.00 1,977.00 0.00 1,977.00 0.00 1,977.00', 6/25/2019 9:09:55 AM Page 1 of 1 r • a, O M O co O O) a0 C) O O O O O N 17 O N IA `N 4- 0 CI N CO a0 r O v O co X17 O O O) O O r 0 0 O O N v v N 0 0 O O in 3 N O 0N v M M M u, M 1-CO N 'N N Li C a) 0 0 03 03 0 ( � a a> O 0 0 0 0 0 r 0 0 0 0 0 0 0 0 r N. 0 0 0 O 0 CO O O O O O O O O N N O0, IO} C0M M (0 O M M03 LO O O O O . . 0 - T V 13 o N N M N M H M,I` el- N v F ,_ CD CO0 • 0 (O 0 CO 0 C) CO N H O O O O 0 H N N O CO M M O O) N- N .N- M co 0 o n U VO N N. 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O co er O In co ,-....N O O O O O In In to r ^ O co co• 7 an In 1 j. N- (O (O N N co (-H L0 It acr ,- N 0 'N f Q▪N 0 7 H a) O W Z Z R W W is H CO ...C CO Z U) m ( LU w C N O Z Z 0 C 0 Z N 3. Lt. .0 V co ti) W U a H oti Z N C a c o � E v — zw 0w � 2s °' ' a) 0 a) 3 CO > C Q 0 lIZ (L H K 0 5 C C c c F.3 al a=) O. a w U CO CO Z w j c a , c 0 C s O U Q o m 4) > > CCW ,_ D D W 0 0.' X c as w a _ W Z O (n H 2 < a. m W a) w ILL a) al N O R co 1- N 0 0 0 O Ip N O • (v C C 4' a) > N_ O O co N N In co N co O r ' a) a) _ I ...CI, c g I o (oo c0o m o oo no m m co co` u) h- ;H O 10 City of Farmington 430 Third Street Farmington,Minnesota 651.280.6800•Fax 651.280.6899 '"'Roo`� www.ci.farmington.mn.us TO: Economic Development Authority FROM: Cynthia Muller, Administrative Assistant SUBJECT: Downtown Façade Improvement Grant Program Application 510 Willow Street DATE: June 27, 2019 INTRODUCTION/DISCUSSION As part of the Downtown Redevelopment Plan, business owners are encouraged to improve their buildings' front and back curb appeal through façade improvements. The EDA has approved the creation of a Downtown Façade Improvement Grant Program to fund matching grants of$1,500 up to $10,000 out of a pool of$20,000 annually. Attached is an application from Steve Foster of Peerless Plastics for his building located at 510 Willow Street. He is requesting a grant to assist with improvements being planned for the building. These proposed improvements include: • Clean walls and remove mold and discoloration on exterior walls • Paint the exterior • Repair windows The total project cost is estimated to be $19,060 including the grant request of$9,500. ACTION REQUESTED Review and approve the attached Downtown Façade Improvement Grant application and contract for 510 Willow Street. CITY OF Downtown Façade Improvement Program FARMINGTON Grant Application ��.,, b APPLICANT INFORMATION NAME OF APPLICANT(S)C _sS r/0. 07 cs 1-;4 c , 1 BUILDING OWNER / TENANT Pe er fc ss �� s.&s T e SQ-#44 e ADDRESS / ADDRESS S70 lid r ow . CITY,STATE,ZIP CITY,STATE,ZIP 1:4/1/4-Al A -1--c A Gq/1" Ss362q PHONE 0 / PHONE G / - 4/63 - 7/g3- ES` O ce, 'sc- t°e r /essr fo 7 s. EMAIL c_o BUSINESS INFORMATION LEGAL NAME OF BUSINESS PC e y /rss P/c& f,cs, T„,c, ADDRESS 5[O (I-) r I/6 GO 57Lre A --/- CITY,STATE,ZIP /CI..it okAtiA, 7e eel/ CJ 2. c/ 1 BUSINESS PHONE Co sr-7 '/c,0 3 - / 7 FEDERAL TAX ID# yr—/35-91 es'1 DATE ESTABLISHED / 13-7 OWNERSHIP INTEREST OF ALL ARTIES NAMED ON 17TLE: le NAME 0101 e� GOf� • Cie/'lINTEREST NAME INTEREST NAME INTEREST 5 • PROPERTY INFORMATION ESTIMATED DATE OF BUILDING CONSTRUCTION / HAS THIS BUILDING BEEN HISTORICALLY REGISTERED? Alp PROJECT INFORMATION BRIEF DESCRIPTION, OF PROPOSED PROJECT: Pe.c n l I� eetc r ck dc/a V` b()/'Jo ILLS • le ct rpt tea_//_s �i e O Lie_ x/e6, i,t O /i� � a /o tv� , IS Ode/l etal a rtct lr�I s1 el (A) c �1 a t�� .i 11-1-1 ro&_.I'l Q ( /'1 /e 417L /ECS S * /$ yCG /"S • ESTIMATED PROJECT COSTS DO �O EXTERIOR/FAAADE �7 ©6D ESTIMATED COST l g 00 S ELECTRICAL ESTIMATED COST TOTAL ESTIMATED COST a 40 o° ge G0 • 6 FUNDING INFORMATION A 1:1 match is required by the applicant. For every dollar contributed to funding eligible project costs by the Downtown Façade Improvement Program,the applicant must contribute at least one dollar.The amount of grant to be awarded shall be$1,500 up to$10,000 according to the scale. TOTAL GRANT AMOUNT REQUESTED$ $1,500 up to$10,000 according to the scale) APPLICANT FUNDS $ I/We declare that the information provided on this application and the accompanying attachments is true and complete to the best of my/our knowledge. I/We understand that any intentional misstatements will be grounds for disqualification and that the city of Farmington/EDA has the right to verify this information. I/We agree to provide the project coordinator reasonable access to information and reasonable access to the construction project site so that they may monitor project implementation. APPLICANT(S) 4111 , srvor Ir,►y- �� DATE //e/2‘) l DATE DATE 7 _ Estimate Farias Painting - 7945 77th St South .Farias Painting. [7::Z-k11'�a '1' Cottage Grove 6/19/2019 1136 MN 55016 6512475813 Name/Address Peerless Plastics. 510 Willow St. Farmington MN. Prep exterior surfaces prior to painting(Power 850.00 850.00 wash,Scrape&Prime as need it). Spraying and Back roll stucco surface(Stucco Paint). 13,000 0.65 8,450.00 Materials purchase and delivery 4,260.00 4,260.00 Exterior trim painting(Blue Roof Cap). 1,600.00 1,600.00 Masking and painting of loading dock doors 1,250.00 1,250.00 (Scrape,prime and paint) Spraying and back brush/roll of siding Scrape and 1,150.00 1,150.00 prime as need it.(Wood Sheds) Exterior Window Painting. 10 150.00 1,500.00 Total $19,060.00 City of Farmington Downtown Facade Improvement Program Grant Agreement This agreement is made and entered into this 27th day of June, 2019 by and between Steve Foster (applicant), Peerless Plastics, Inc. (business name) at 510 Willow Street, Farmington, MN 55024 (address) (hereinafter referred to as "Grantee") and the City of Farmington Economic Development Authority(EDA), a public body corporate and politic, having its principal offices at 430 Third Street,Farmington, Minnesota(hereinafter referred to as"Grantor"). WHEREAS,the Grantor has established a Downtown Facade Improvement Program funded by the EDA to assist businesses in the downtown commercial district, as designated on the zoning map, with building facade improvements; and WHEREAS,the Grantee has applied for Downtown Façade Improvement Program funds for façade improvements at 510 Willow Street, Farmington, MN(address); and WHEREAS, the Grantor has reviewed the Grantee's application and determined that the proposed improvement project meets the requirements of the Downtown Façade Improvement Program. NOW THEREFORE, in consideration of the grant, the parties agree as follows: 1. The Grantor agrees to provide a maximum of$9,500 in EDA funds to the Grantee for facade improvements. 2. The Grantee agrees to use the proceeds of the grant solely for façade improvements with a minimum project cost of$19,060 and an estimated project cost of$19,060. 3. The project shall be completed in a timely manner and all grant funds must be used within six months from the date of the Grant Agreement. The agreement may be extended once, with the length of the extension to be determined on a case-by-case basis. 4. Grant funds will be paid on a reimbursement basis only after all improvements have been completed according to the authorized scope of work and have been accepted by the Grantor. 5. The Grant Agreement will be terminated 90 days from the date of the agreement if construction work has not yet begun. 6. The Grantee shall defend, indemnify, and hold harmless the officers and employees of the Grantor from all liability and claims for damages arising from bodily injury, death, property damage, sickness, disease, or loss and expense resulting from or alleged to result from Grantee's operations under this agreement. IN WITNESS WHEREOF,the parties hereto have hereby executed this agreement as of the year and date above. GRANTOR: GRANTEE: CITY OF FARMINGTON PEERLLEES 'cJ LASTICSI BY: BY: 0 ' ITS: "W^^ ( ITS: e iotFk i City of Farmington �� 0 430 Third Street '„.;..5.;„••---7"--:-.. ...- 1-� Farmington,Minnesota 651.280.6800•Fax 651.280.6899 www.ciSannington.mn.us TO: EDA Members FROM: Adam Kienberger, Community Development Director SUBJECT: Marketing and Website Review DATE: June 27, 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. At the April EDA meeting, staff reviewed the city's webpages for economic development. Feedback was provided with additional review and discussion to occur at our June meeting. Staff has incorporated several recommendations into the EDA's webpages and will review the changes made. The EDA should also plan on discussing components from other communities' economic development webpages they found valuable. ACTION REQUESTED Provide feedback on staffs review of the city's economic development information. qta1\44 o�oARHi City of Farmington 430 Third Street t Farmington,Minnesota 651.280.6800•Fax 651.280.6899 A MOO- www.ci.farmington.mn.us TO: Economic Development Authority FROM: Adam Kienberger, Community Development Director SUBJECT: June Director's Report DATE: June 27, 2019 INTRODUCTION/DISCUSSION Highway 3 Corridor Plan City Council adopted the Highway 3 Corridor Plan at their regular meeting on June 3k'. Staff is currently working with WSB on immediate implementation steps. Development Update Just For Kix has submitted a site plan for the land they own in the Vermillion River Crossings development. The 11,000 square foot dance studio and multi-tenant building is scheduled for the July 9th Planning Commission meeting. 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. Miscellaneous Articles May Foreclosure Update—Dakota County Community Development Agency 13 Essential Facts to Understand Main Street Businesses—Fundera 5-29-19 NEXT MEETING Our next regular meeting is July 25th at 6:30 p.m. ACTION REQUESTED None,this report is intended to be a monthly update on various development and industry related topics. 5/29/2019 13 Essential Facts to Understand Main Street Businesses funcIera Loans Credit Cards Banking Accounting More Resources Your (/signup) (/) (/blog/bookmarks) ' - INSPIRATION 13 Essential Facts to Understand Main Street Businesses JUNE 29,2018 (https://www.fundera.com) Nicolas Strout(https://www.fundera.com/blog/author/nicolas-straut) Analysts and pundits alike often contrast small,locally owned Main Street businesses to gigantic,faceless Wall Street financial firms. But competitively,their true foils are actually big-box stores including Costco,online retailers like Amazon,and large brick-and- mortar retailers like Walmart and Target.Local consumers flock to these corporate competitors because of low prices and the large selection of products available—sometimes at the expense of local businesses. Main Street businesses,according to the Kauffman Index definition(https://www.kauffman.org/kauffman-index/reporting/main- street),are local,established businesses more than five years old with fewer than fifty employees.These businesses are at the heart of many communities,and with the rise of mega-retailers,many towns have organized to back their local stores.With"buy local"or "local first"campaigns, towns like Tucson,Arizona(https://www.visittucson.org/business/local-first-arizona)encourage residents to keep locally owned and independent businesses thriving at the expense of deals at larger retailers. As the following statistics make clear,Main Street businesses provide a slew of community benefits.They generate greater investment back into their local area,higher commitment from their workers,and much more.As a consumer in your own community, here's what you should know about local businesses. https://www.fundera.com/blog/local-business-statistics 1/7 5/29/2019 13 Essential Facts to Understand Main Street Businesses —........4 h + o Your (/signup) ( 1i 0. .. P blog/bookmarks) = I V- • •! • I 4 3'" • � T �:r 94. • M x • I, �� i H 1 1 - . ,if r aG 1x= 7 ,,, s 1 T , e 1. Lots of Americans depend on their own Main Street businesses for their own—and their family's— livelihood. • 7.8%of 18-to-64-year-olds are currently owner-managers of an established business(http://gemconsortium.org/report/50012) that pays them a salary,wage,or other payment.It's a tough job,but roughly 15,621,419 Americans are still willing to take on the challenge to build something valuable. 2. Shopping at a local business is better for the environment than patronizing a big-box store. • 59.3%of local,independent makers say they occasionally or usually use recycled materials (https://www.huffingtonpost.com/mike-salguero/why-buying-local-is-worth_b_4310520.html)and 7%say they always use these materials. • 50%of pollution in the US is caused by industrial sources.By purchasing what you need locally,you can reduce processing and packaging,and the generation of transportation waste. 3. More money stays in your community when you shop local. • $68 for every$100 stays in the community when spent at a local business (https://www.localfirst.com/media/files/default/defaultLF0814_WhyLocalFirstGraphicNew_J3.png).When spending the same at a non-local business like a national chain,only$43 stays in your community. • Wages,local taxes,and donations stay in the local economy with both types of businesses.Local economies do miss out on the purchasing of local services like accounting or marketing services and the purchasing of local supplies with non-local businesses. 4.More than a quarter of small business owners are immigrants. • 28%of main street business owners are immigrants(http://www.as-coa.org/articles/bringing-vitality-main-street-how- immigrant-small-businesses-help-local-economies-grow)—a disproportionally high number when you look at both entrepreneurs and workers in general.Immigrants only make up 16%of the labor force and 18%of overall business ownership. • 53%of grocery stores,45%of nail salons,43%of liquor stores,38%of restaurants,and 32%of both jewelry and clothing stores are owned by immigrants. • 48%of overall growth of US business ownership in 2000-2013 was attributed to immigrant business owners. https://www.fundera.com/blog/local-business-statistics 2/7 5/29/2019 13 Essential Facts to Understand Main Street Businesses ,i4t o I(Grow -- ing Accounting More Resources (Your ,. gnup) ( (/blog/bookrnarks) IBusinls ( i (1 III 1k i_ ii _I_ _ 1 t r- ,IE, I 'f _ ., ,, .„,,..;:.,„:„.. : ,, , ,..„......., 1 . . t 4. 5. Low sales or limited cash flow is the main reason that local firms close. • 25%of business owners said their primary reason for closing their firm (https://www.sba.gov/sites/default/files/Small_Biz_Facts_Why_Do_Businesses_Close_May_2018_0.pdf)was low sales or cash flow(https://www.fundera.com/blog/cash-flow-positive). • 21.9%of respondents reported that retirement was a close second,followed by"sold the firm"at 20.3%. 6.Americans still spend more in-store. • 65%of Americans'shopping budgets are still spent in-store(https://smallbiztrends.com/2017/09/small-business-retailers-need- know-online-consumer-behaviors-right-now.html). • The primary reasons that consumers still hesitate to shop online are shipping costs,the inability to try the product in advance of the purchase,difficult return processes,and concerns about privacy. 7.Online search and reviews are critical for local business success. • 97%of consumers searched online for a local business(https://www.brightlocal.com/learn/local-consumer-review-survey/)and 73%of searchers trust a local business more because of positive reviews. • 68%of consumers left a local business review when asked.If you're a loyal customer,this is a great way to support your favorite local business.And if you're a local business owner,don't be afraid to ask for an honest review—your consumers will likely do it! 8. Many local businesses have a Facebook page but few use Facebook ads. • 65 million local businesses have a Facebook page(https://geomarketing.com/facebook-starts-2017-with-65-million-local- business-pages)but only 4 million are taking advantage of Facebook advertising products. • Far fewer have set up Instagram Business profiles:Only 5 million profiles have been created,and only 500,000 have set up ad campaigns. 9.The top reason shoppers choose local stores are unique product selection. https://www.fundera.com/blog/local-business-statistics 3/7 5/29/2019 13 Essential Facts to Understand Main Street Businesses ygli�vided the following reasons when asked why they prefer small and local retailers° Grow (/�,"'•• Loans Cre rtCa s Ba kin Acc untin More Res r jY ur /si nup)' (https://smallbusiness.com/selling/small and-local'retailers-preferred-by-shoppers/).`lI hey were allowed murti�ieVlae swer`s: , • 61%—They offer a unique product (/blog/bookmarks) • 49%—I couldn't find what I needed from traditional sources • 40%—I want to support the community or small businesses • 29%—I like to try new retailers • 26%—They feature a broader assortment • 24%—They provide an innovative shopping experience • By providing unique products or services,Main Street business con set themselves apart from larger competition,as shown by the top two shares of respondents. ammomm , r.„„ ....;,,, /..,, .. 2, ! ,, A.",i , ,...fin- V s"- ky. f' ` a, :"--'.7"4-0441.1,44414:. 14 nr f a WS, it A 40, k i .. _.',...:... .ter r y.. o -" ..e'-1 `► ...., m x„', w a +. av. e _ " ,f4 ills... 10.Workers are more committed to locally owned firms. • 56%of workers at locally owned firms have high commitment scores (https://www.researchgate.net/publication/267506705 Small local and loyal How firm attributes affect_workers'_organizational while only 38.7%of workers at non-locally owned firms had similar scores. • High commitment includes a sense of loyalty and the demonstration of commitment to the organization.The authors of this study write that small,local businesses are"linchpins of community attachment and sustainability."They continue that"locally owned businesses,are associated with an improved quality of life and a more robust civil society." 11. Minnesota is the best large state for Main Street entrepreneurship... • The Land of 10,000 Lakes,Minnesota,ranked first(https://www.kauffman.org/kauffman-index/rankings?report=main- street&indicator=ms-owners&type=larger)for these factors: • its survival rate of 50.76%for firms that remained in operation through their first five years • the 7.75%of its population that owns a business as a primary job • high number of small businesses per 1,000 firms,687.2 12. ...and South Dakota is the best small state for Main Street entrepreneurship. https://www.fundera.com/blog/local-business-statistics 4/7 5/29/2019 13 Essential Facts to Understand Main Street Businesses eIkia ranked first(https://www.kauffman.org/kauffman-index/rankings?report=ma4n-street&indica L ns C ditCords Banking Accounting More Resources Your (/signup) (/) owners&type=smallerr13ecause o (/blog/bookmarks) •, • its survival rate of 53.47%for firms in their first five years • the 10.75%of its population that owns a business as a primary job • high number of small businesses per 1,000 firms,681.8 13. Pittsburgh is the best metropolitan area for main street entrepreneurship. • Pittsburgh is ranked first(https://www.kauffman.org/kauffman-index/rankings?report=main-street&indicator=ms- owners&type=metro)because of: • its high survival rate of 53.78%for firms in their first five years • the 5.25%of the population that owns a business as a primary job • and high number of small businesses per 1,000 firms:694.2 4111ry l 5,. Although few consumers can shift their spending to Main Street businesses exclusively,buying a cup of coffee at the local coffee shop instead of Starbucks,or visiting a trusted garage instead of Pep Boys can be a boon to your local economy and even the environment. As the statistic on online search showed,even a positive Google or Yelp review can lead to more local business for your home community. A great Main Street business community can't be developed overnight—but you can work toward it through local purchasing campaigns and conscious patronage by residents.Wielding these convincing facts should certainly help. Editorial Note:Any opinions,analyses,reviews or recommendations expressed in this article are those of the author's alone,and have not been reviewed,approved,or otherwise endorsed by any of these entities. About Latest Posts https://www.fundera.com/blog/local-business-statistics 5/7 Dakota County E, 146E1). Community Development Agency CDA To: Dakota County Cities From: Maggie Dykes Date: May 21, 2019 Re: Foreclosure Update Dakota County Stats —April 2019 • # of Sheriff Sales in April — 13 (compared to 22 in April 2018) • # of Notices of Pendency Filed in April — 78 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 (65 I) 675-4464 or send me an email at mdykes@dakotacda.state.mn.us. 0 to 0 s 3 ca C a, O1a e-Irv1 a-1 l-1 N 1n N N N O t'/1 LU en N N .-1 N M ci N H N LO O N N a, O Z O U 41 O N a, N E O O 0 Z Z a a a1 vi • O p u .g N a v v > 41 O • m w a, N. o E o a tLra O 0 L z tan v o,p c 1n Q on 3iD a, o v E 0 s `o vdo p U ci O n urd E a, 0 a o F._. 04; 9 U O ° ro 3 -, al c 3 ° 3 2 U. C0 m O 2 _ v 0 0 fl. O0 up ti W m am O0 O O V •LU m W O Q tar; v E -c E -p `o 'o 2 ' , co LU co -L rn - Lo co m m , -?._ ra , au E E U �u c E o m'o 0 ai 1 W V' LU Ol N Vl N O O N M H O, m +>m C E v C LOU p,, U a `a , U'c A 41 n E ({i 7 y. 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'4 r..e.- i . ,a t mo{-,. .,` .}- -i .7, - ,:, ,• A~A , le January NORTHLAND 2019 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. 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. mmummummummummimmmimiiimmiimil 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 cconnmc 4wRRwww1l9/IAR ! S — - DRVRMO It 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 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 160.00 140.00 120.00 100.00 :,,-44,4;;;,s' ,„„ „it ce. 80.00 ,: 60.00 , 40.00 , , , , , 20.00 Q� Q�J\ .�°'h r� °cam ,�\° r� � \�e� ,��e �ac� S's; �iP \�� e ,ZS> ems° e •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 2,000,000,000II 111111 2,000,000,000 •Apartments 1,000,000,000 ■ Residential Farmington Lakeville Rosemount Hastings Apple Valley Figure 2 Taxable Market Value Taxes Payable 2019 100% . _. 90% III III70% U U U 70% MI All Other 60% ■ ■ ■ ■ ■Agriculture 50% ■ ■ ■ ■ Industrial 40% ■ ■ ■ • U Commercial 30% ■ ■ ■ ■ •Apartments 20% ■ ■ ■ ■ ■ Residential 10% ■ ■ ■ ■ 0% Farmington Lakeville Rosemount Hastings Apple Valley Figure 3 January 2019 EDA Strategic Plan 2019-2021 8 • 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.The cities have similar populations (Farmington 22,421 -Rosemount 23,956),but Farmington has 29% less tax base.Total Taxable Market Value per capita in Farmington is$87,866 and$116,100 in Rosemount. Growing and diversifying the tax base has a variety of benefits.A growing tax base gives the city more flexibility in funding services and capital improvements.This flexibility would likely extend to the EDA budget. The demands for operating revenues may limit the ability to lower the tax rate,but a growing tax base lessens the need to raise rates. Growing the tax base is one of the only means available to the city to promote reductions in other parts of the total tax rate. A diversified tax base changes the impacts of economic downturns as value changes vary among property types. Commercial and industrial development make different use of city services than residential with the potential for comparably less pressure to increase services and spending. EDA efforts to grow the tax base must be done thoughtfully and strategically.The Minnesota property tax system affects the ability of the city to realize growth in the tax base from new development.40% of all new commercial-industrial value goes into the Fiscal Disparities Pool and is not available for local taxation.The use of tax increment financing(TIF) or tax abatement defers the benefits of new tax base until the financial assistance ends.Property class rates set by the Legislature convert the Assessor's Estimated Market Value to Tax Capacity (taxable)value at different rates. Figure 4 illustrates these points.This chart compares the Tax Capacity value available to the city (and other taxing jurisdictions)from alternative development of 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 ai m 1,500,000 T Li m m U 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 I() 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. Annually update the action plans in the Strategic Plan. 2019 Action Plan 1. Provide annual comprehensive review of the EDA's finances in March. 2. Develop a standardized template for providing specific project updates. 3. Explore ways to enhance the effectiveness of monthly board meetings. 4. Create a process to annually review and update action plans in the Strategic Plan. January 2019 t 0 0. a) CC V) CO COY N N 13 L C - O a M .2 C ° v m v u m Y > 3 c v -O r u co 3 ° c c a o E c o o = w e .v ., m .3 =o N u w aL p -a � • vE o x 3 « vv oo E o f c c0;: w V CO 01 u .. 3 « E " -o E vw rc i _ u E m « « o-° > o LL u w w 0 m L m E v v E ,a N 0, V - c EE w . o cu .o ma - > v p ¢ v y` 3v c 'a v C` m u o .nJ cK "O v 0 pmON oN 61 p c v « m « y 0 m 11 l''. m m w > 2 c . a E m W E >«" m O < 2o u o w ` Y, a o E c a a 3 Q a m v 4 v 00 m L '" 2 fa"v _ o o LI) Y « c .= o ° c m. 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