3(b) Housing and Economic Development Sections

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Make the area's natural,scenic,and recreational amenities the Pequot Lakes brand.The primary reason that people choose to live, work and visit the Pequot Lakes area is the natural, scenic beauty and the many recreational opportunities. Pequot is in a unique position to retain that powerful brand and use it to not only enhance the quality of life for residents but provide long-term business opportunities for compatible enterprises. Streamline the regulatory process to provide business owners with flexibility while ensure new enterprises build on the community's assets and enhance its brand. The City's regulatory framework needs to protect existing investments while at the same time encouraging the expansion and redevelopment of key commercial areas. The City's ordinances need to be continually re-evaluated to ensure that they clearly and aggressively promote the vision of this plan while eliminating needless and counterproductive regulation. Regulations must be clear to understand and approval processes should be as streamlined and user-friendly as possible. Strive to have the business park fully utilized. The long-term maintenance costs of the industrial park need to be met by increased development—and more intensive development—within the business park. Storm sewer systems are designed to handle an overali impervious coverage amount of 95% and the sanitary sewer and water systems also have excess capacity. It is critical, for the long-term economic health of the community that the City continues to seek ways to obtain a higher return on the existing business park properties. Ensure that expansion of the Cit�s commercial zoning districts are tied to the cost-effective expansion of utilities. Development on the highway corridor misdirects investments that are critically needed in the downtown and business park areas. In addition, development along the highway corridors impedes safe vehicle travel,degrades highway capacity and is expensive to provide service to.Businesses in these areas may find comparatively cheap land prices, but that reflects the difficulty in sustaining a business in an isolated location. New commercial zones must be reserved for areas in the community that will immediately utilize the community's existing investments in major infrastructure. (f his will need to refer to Patriot �venue.) Promote an excellent school district and housing policies that cater to a diverse workforce.The success of businesses in the community will depend on people choosing to move to, live in and invest in Pequot Lakes. A healthy school and desirable workforce housing are two of the most critical components necessary to attract workers and investment. To the extent possible, the City of Pequot Lakes needs to support the local school district and work to implement a robust housing strategy for the urban neighborhoods of Pequot Lakes. Assist local businesses with leveraging capital. To maintain a sustainable local economy, the City of Pequot Lakes should create an environment for businesses to establish,grow and prosper.The City needs to help new businesses and businesses in transition leverage capital.The availability of capital is the most important factor in creating and expanding a business. There are opportunities open to the City to free up capital for businesses or to connect businesses with sources of funding,from tax increment financing (TIF) to revolving loan funds and community development corporations. The City should consider these and other emerging mechanisms as part of an economic development strategy. (F�t �c,iv�� I,>�r� ��rci<%1 Partner with local economic development agencies to support and enhance businesses.The City should assist in energizing the local business spirit.An entrepreneurial spirit in a city is a contagious thing. If the