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Summary Letter,August 16,2007,Page 4 of 6 <br /> strategy, and 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 surrounding region is a significant lever to insulate <br /> businesses from prospective negative changes in physical vehicle traffic. <br /> Finally,two additional prongs are that the business community and the City can each <br /> pursue financial initiatives to attract and cultivate businesses in Pequot Lakes. The JOBZ <br /> program, small business development loans available from the Department of <br /> Employment and Economic Development, and most notably a special service district are <br /> measures the business community could pursue to solidify downtown vitality in Pequot <br /> Lakes. Also,Region Five Development Commission is currently offering online <br /> marketing and sales assistance to interested business owners, consistent with their <br /> advocacy of the wireless internet infrastructure. <br /> The City has used tax increment financing("TIF")districts for development in the past. <br /> As we discussed, however, 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 fund(funds are currently operated <br /> by the Brainerd Lakes Area Development Corporation for Baxter and Crosslake, among <br /> others) for business owners, sales tax authorization to"export"the tax to the extent <br /> possible, and development of an"economic gardening"office. The special service <br /> district described above is, I believe,one of the most promising tools for the City and the <br /> business community to employ, given the physical and financial realities involved in the <br /> bypass discussion. <br /> It has been a great pleasure to serve the City of Pequot Lakes in the course 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 /> Jonathan Commers <br /> Principal <br /> cc: Chuck Marohn, Community Growth Institute <br /> Attachments <br />