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Sønory l-.ettr, Atgrst I 6, 2007, Pdge 4 of 6 <br />stratery, ard a guide to Pequot Lakes retail to be used by business owners and visitors <br />alike. The enhanced connectivity represented by current efforts to build a wireless <br />network in Pequot Lakes and its surrourding region is a significant lever to instfate <br />businesses from prospective negative charrges in physical vehicle traffic. <br />Finally, two additional prongs a¡e that the business commurity and the City can each <br />pwsue financial initiatives to athact and cultivate businesses in Pequot Lakes. The JOBZ <br />progranL small business development loens available fromthe DeparEnent of <br />Employment and Economic Developmørt, and most notably a special service district are <br />measures the business community could pursueto solidiff downtown vitalrty in Pequot <br />Lakes. Also, Region Five Development Commission is curre,ntly offering online <br />marketing and sales assistance to interested business owners, consistent with their <br />advocacy of the wireless intemet infrastructure. <br />The Cþ has used ta¡r incrernent financing ('"ITII'1 distics for development in the past. <br />As we discussed, howeveç TIF's emphasis on already-developed parcels reduces its <br />potential value for the City if an alternative alignment is constructed. The City could <br />choose to pursue the development of a revolving loan fi¡nd (fi¡nds are currently operated <br />by the Brainerd Lakes AreaDevelopment Corpordion forBa¡rter and Crosslake, among <br />othen) for business oìruners, sales tax ar¡thorization to *enport" the tax to the erû€lrt <br />possiblg and development of an "economic gardening" office- The special service <br />district described above is, I believg one of the most promising tools for the City and the <br />business community to employ, given the physical and finarcial realitie,s involved in the <br />bypass discussion. <br />It has bee,n a geat pleasure to serve the City of Pequot Lakes in the cor¡rse of this <br />process. If I can be of assistance in the coming months as the community moves through <br />this decision making, please do not hesitate to contact me. <br />Best Regards, <br />Co***- <br />Jonathan Commers <br />Principal <br />cc: Chuck Marohn, Community Growth Institute <br />Atûachments <br />Appendix E - Donjek Final Report Page 4 of 11