06-12-2003 Long Range Planning Commission Minutes

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homes adjacent to the regional greenway. Those homes were still the first to sell. o In Minnesota,87%of home owners believe trails either increased the value of their homes or had no impact.9 Philosophy To create a sustainable local economy,the City of Pequot Lakes needs to create an environment for businesses to establish,grow and prosper. To help businesses establish and to assist in business transition,the City needs to help businesses leverage capital. The availability of capital is the most important factor in creating and expanding a business. There are numerous opportunities open to the City to free up capital for businesses or to connect businesses with sources of funding,from tax increment financing to revolving loan funds to community development corporations. The City should actively pursue these and other mechanisms as part of an economic development strategy. The City needs to assist in energizing the local business spirit. An entrepreneurial spirit in a city is a contagious thing. If the City continues to show a dedication to business,our partners in the Chamber of Commerce and the Pequot Lakes Economic Development Organization will help promote it. City officials need to be active in business networks reinforcing the idea that local economic advances will come largely through local cooperation. The City should also work to enhance the local work force. Partnerships with the local school district and the Central Lakes College can help the City capitalize on these institutions. Local housing policy that provides for workforce housing options is critical to maintaining a viable work force. Pequot Lakes needs to be an enjoyable place to live, `.- not just to work,so recreational opportunities need to be advanced. It is essential that the City maintain solid infrastructure. Having two telecommunications leaders in town provides the City with an opportunity to stay in touch with advances in telecommunications and to plan and facilitate their continual upgrade locally. Roads and streets need to continue to be maintained,and sidewalks and other walkways provided in areas where pedestrian access is criticaL Water and sewer expansions should be planned so that businesses can anticipate future availability. Storm sewer is an essential component of any downtown redevelopment strategy that is currently lacking. e Rails-to-Trails Conservancy. "Economic Benefits of Trails and Greenways." httoJ/www.trailsandgreenways.org/TAG Documents/FactSheets/PDF/11.pdf 9 Parks and Trails Council of Minnesota. "The Economic and Social Benefit of Trails." www.narksandtrails.o�