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HomeMy WebLinkAboutV.C - Strategic Plan Update MEMORANDUM To: HEDRA Commissioners From: Rusty Fifield, Economic Development Coordinator Date: September 6, 2019 Item: Strategic Plan for Economic Development Update The following is an update on the status of actions contained in the Strategic Plan for Economic Development and related economic development activities. Highlights of current activities include:  Several new sections of website are now active. New home page. Separate (new) section with “Community Information”. Opportunities page will be a place to highlight particular development opportunities. Resources and Incentives moved to new section “How Can We Help?”. Specific section for links and resources – Useful Information. I welcome your feedback and ideas for enhancements.  Submitted Redevelopment Incentive Grant (RIG) for planning assistance to study HEDRA downtown properties. Objective of the study will be to evaluate alternatives for use of HEDRA property, establish a preferred use and set action steps to achieve this use. Hope to learn about funding in October. I plan to have a workplan for the study to review with you in October.  We will be submitting a SHIP grant application to help fund a “people movement plan”. The plan would help us make it easier and safer to move around Hastings without a car. This planning process is a good fit with opening of The Confluence and the emphasis on Hastings as a regional trail hub.  City Council TIF Workshop on September 16. The presentation will be very similar to the one at the July HEDRA meeting. You are welcome to attend (5:30 pm Volunteer Room).  The firm that is interested in building senior housing behind Schoolhouse Square will hold a neighborhood meeting in September. If no serious problems arise, I would expect a request to consider tax increment financing assistance to be on the November agenda.  We receive a steady flow of inquiries about property in the Business Park. No specific projects to report at this time.  Submitted a proposal to the Economic Development Association of Minnesota (EDAM) to host an educational presentation on The Confluence in Hastings next year.  The housing needs assessment report continues to evolve. The report compiles pertinent information from the 2040 Comprehensive Plan, the upcoming County Needs Assessment Strategic Plan Update September 6, 2019 Page 2 and our own analysis. No word on when the County report will be released. I would like to complete our report and start our discussion about action steps before the end of the year. Ongoing Actions Action Comments Establish strong working relationships and communications with key stakeholders inside and outside of Hastings. Ongoing involvement with:  Chamber’s Developer’s Task Force meetings  Bi-Monthly Dakota County CDA County/City Community Development Meeting  Sensible Land Use Coalition (SLUC)  Economic Development Association of Minnesota (EDAM) Ongoing networking with development and real estate community Coordinate economic development activities with HEDRA, City Council and City departments. Ongoing Strategic Plan for Economic Development presented to City Council on July 1 Manage the “Business” section of the City website to provide relevant and timely information. Ongoing Seek new and creative funding sources. Ongoing Exploring possibility of special TIF legislation Respond promptly to opportunities. Coordinate closing of RLF loan to T&S Properties LLC Recent inquiries:  Industrial land – relocation  Multi-family housing Strategic Plan Update September 6, 2019 Page 3 Immediate Actions Develop and implement strategies for addressing housing issues related to economic development Action Comments Evaluate current housing needs Focusing on development capacity:  Existing platted lots  Possible multi-family sites  Vacant land for single family  Infrastructure capacity for future development Further analysis of existing housing on hold pending findings of County study Plan to establish connections with relevant regional builders Review 2019 Dakota County CDA housing needs study for implications for Hastings Report not expected to be available until 4th Quarter of 2019 Work with HEDRA to create specific actions to address local housing needs TBD depending release date and findings of County study Will also evaluate connections with Housing Chapter of 2040 Comprehensive Plan Present findings and recommendations to City Council TBD Identify and act on opportunities to enhance the environment to operate and locate business in Hastings Action Comments Work to achieve the successful completion of The Confluence Coordinate other economic development with 2020 opening Create cash flow model to update tax increment projections Strategic Plan Update September 6, 2019 Page 4 Action Comments Update The Confluence in Success Stories on website Waiting on feedback from EDAM on Third Thursday program in 2020 Work with Parks and Recreation, the Chamber of Commerce and Tourism Bureau, the Hastings School District, the YMCA, and other stakeholders to expand the economic impact of people visiting Hastings for events TBD Work with Parks and Recreation, the Chamber of Commerce and Tourism Bureau, and other stakeholders to create a plan to capitalize on bicycle tourism. SHIP grant application submitted to help fund People Movement Plan. If approved, plan will help improve connections with regional trail system and enhance local wayfinding guidance. Evaluate the alternative uses of the 50- acre parcel in the Business Park, make recommendation to HEDRA and implement preferred development strategy Planning to report to HEDRA on alternative uses in December Create and implement strategies to effectively address redevelopment opportunities Action Comments Identify and prioritize redevelopment sites in the Vermillion Street Corridor Creating property information database for Opportunity Sites identified in Corridor Study Play an active role in the reuse of the Target property to enhance the positive impact of redevelopment Ongoing contact with Ryan Companies on status of plans for reuse Currently no active plan Open to ideas from City Work to achieve development on City owned property that enhances the Downtown Panache response due September 30 with HEDRA action at October meeting Strategic Plan Update September 6, 2019 Page 5 Action Comments Grant application for evaluating options for use of HEDRA property in Downtown pending. If approved, work will start before the end of 2019. Recommend a redevelopment land acquisition strategy for HEDRA TBD Solidify internal economic development functions Action Comments Help the new City Administrator become informed and engaged with economic development initiative in Hastings Dan Wietecha starts October 7 Prepare and send background information on economic development activities Update the “Business” section of the website to support this Plan In process. Completed to date:  New home page  New Community Information pages  New Opportunities pages  New How Can We Help pages  New Useful Information page Provide the City Council and HEDRA with quarterly (or more frequently if needed) written reports on progress made on the actions in this Plan Ongoing