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Economic Development Committee <br /> September 11, 2007 <br /> Page 2 of 3 <br /> -------------------------------------------- <br /> • Destination Location <br /> • Identify Market Trends <br /> • Identify existing businesses <br /> • Identify business types that are lacking in the City <br /> • Involve other agencies <br /> 4. Work toward streamlining the process for developers and <br /> perspective businesses that want to locate in Pequot Lakes <br /> • Define Economic Development Tools <br /> • Develop a revolving loan fund <br /> • Have one initial contact that would be a welcoming agent and <br /> would help guide the developer through the process <br /> • Consider having a City Planner on staff <br /> 3. Discussion on Involvement/Interaction with Other Committees <br /> • PLADO — Discussion was held regarding how the purpose of the <br /> Economic Development Committee differs from PLADO. The <br /> committee felt that this group was formed by the Council and, <br /> therefore, makes recommendations to the Council in the regard to <br /> �.. economic development issues. The committee is also supported by <br /> City staff which will ensure continuity. It was the overall consensus <br /> of the committee to leave the door open to PLADO. However, at <br /> this early stage of the committee, the members felt the committee <br /> needed more time to determine its actual mission. <br /> • BUSINESS PARK COMMITTEE — Discussion was held regarding <br /> whether the Economic Development Committee should take over <br /> the responsibilities of the Business Park Committee, or whether the <br /> Business Park Committee should continue to meet on an as <br /> needed basis. The Economic Development Committee felt it would <br /> eventually become more knowledgeable and could handle the role <br /> of the Business Park Committee. <br /> It was the consensus of the Committee to recommend to the <br /> Council to disband the Business Park Committee and that all <br /> business park lot transactions go through the Economic <br /> Development Committee. <br /> 4. Business Park <br /> The Committee acknowledged the fact that the City had only two lots <br /> remaining to sell in the business park. It was noted that there are privately <br />