06.03 Comprehensive Plan Update - Laserfiche WebLink

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immediately utilize the communit�s existing investments in major infrastructure. Promote an excellent school dlstrict 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 far 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. Financial incentives are an important economic development tool for the City to use. The City has the ability to utilize a number of incentives: Tax Increment Financing(TIF),tax abatement,revolving loan programs and more.The City needs to be deliberative in which types of projects it provides financial incentives to. 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 City continues to show a dedication to business, our partners in the Chamber of Commerce and the Brainerd Lakes Area Economic Development Corporation 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. ACTIONS ITEMS TO SUPPORT POLICIES ❑ Change the City's budgeting process to include a five-year budget projection as part of the annual budgeting process. ❑ Perform an assessment of walkability in the Grow Zone and throughout the surrounding neighborhoods to determine areas of high and low pedestrian mobility and identify priority corridors for mobility improvements. ❑ Adopt a small business subsidy plan targeted to 1)regional destination and 2)neighborhood service businesses that desire to locate or expand within the Grow Zone. ❑ Adjust the zoning code to clearly reserve all space within the industrial park for uses that are not public,and will pay property tax. ❑ Ensure that improvements to Government Drive and Patriot Avenue provide a platform for growth. ❑ Establish an outreach program to have city representatives personally meet with local business owners,realtors,bankers and others that may influence private-sector investing decisions to inform them of the City's unique,pro-growth vision. ❑ Provide regular and ongoing enforcement of maintenance standards for properties located within the Business Park as well as the Grow Zone and the surrounding neighborhoods. ❑ Create a Park Plan for the Grow Zone surrounding neighborhoods that leverages park investments to promote livability and encourage private-sector investment. ❑ Implement a local Economic Gardening strategy which focuses on growing a wide array of small locally owned businesses as opposed to attracting one large employer or industry from outside the area. ❑ Take steps to encourage the development of living units above businesses in the downtown area. ❑ Work with the local business community to ensure their needs are being adequately addressed by a chamber presence within the City. ❑ Further develop the town center park as a unifying feature. Comprehensive Plart Update-November 2018 16 � P a g z