06.03 Comprehensive Plan Update - Laserfiche WebLink

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POLICIES The following policies are proposed to guide future economic growth and development in Pequot Lakes: Strive to maintain long-term stability in the Cit�s rate of taxation. Business growth and creation in Pequot is going to depend on the City's long-term competitiveness.It is enticing to spend money today to induce near- term growth. However,when that growth does not create long-term revenues to handle ongoing maintenance expenses,the subsequent rising tax rate hurts business.Pequot Lakes must take a long-term look at its tax and expense structure and ensure businesses a solid and stable investment environment. Maintain the downtown area as the center for economic activity in Pequot lakes.As many cities struggle to keep their downtown areas strong and vital,Pequot Lakes has an advantage in that its downtown already has a healthy mix of retail and professional businesses clustered together.The City must keep the agglomeration of its businesses and seek to infill and redevelop commercial properties as they become available.The City also needs to work to systematically reconnect and rehabilitate the neighborhoods surrounding the core downtown so as to further strengthen the businesses there. 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 communit�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 overall 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 expansfon of utilities.Development along the Patriot Avenue corridor misdirects investments that are critically needed in the downtown and business park areas.In addition,development along this corridor impedes safe vehicle travel, degrades traffic 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 Comprehensive Plan Update-November 2018 15 ( P a g e