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E X E C U T I V E S U M M A R Y
Port Authority Meeting Date: March 15, 2016
AGENDA ITEM: Discussion of Draft Goals
AGENDA SECTION:
New Business
PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a.
ATTACHMENTS: Draft Goals APPROVED BY: ddj
RECOMMENDED ACTION: Discussion Item
ISSUE
The Port Authority has approved goals over the past several years but has not updated in them in some time.
The Chair has reviewed the previous documents and updated it, to address issues currently being worked on
by the Group. The item is placed on this agenda for discussion and consideration, with the idea that the Port
Authority members could take action at the next meeting, should additional changes be requested.
RECOMMENDATION
Discussion item.
Mission
The purpose of the Rosemount Port Authority is to encourage and carry out economic development and
redevelopment within the City, acting as the development authority on behalf of the City’s interest to increase
the tax base, promote new job development and enhance the health, safety and welfare of our residents.
Economic Vitality and Development Vision
Recognizing potential growth and UMore Park development impacts in the next several decades, we will
nurture and promote sustainable development, high quality business and job creation to have Rosemount
become the preferred regional magnet and development hub for innovation, emerging and sustainable
technologies in the Twin Cities metropolitan area. The following focus areas will guide economic vitality and
development.
Existing Business Retention and Growth
UMore Park – an evolving sustainable community development
Downtown Redevelopment
Industrial / Business (and Technology) Park
Commercial Amenities
Guiding Principles
Support the redevelopment within the Downtown Framework (2004).
Build trust and partnership with our business, educational, and residential stakeholders.
Support responsible and sustainable growth within Rosemount’s 2030 Comprehensive Plan.
Affirm relationships and engagement with existing business community.
Welcome start up and relocating businesses supporting their growth and development.
Goals
Provide clarity to five focus areas to realize the economic vitality and development. Prioritization of goals and
implementation strategies may vary as opportunities arise and policy shifts to meet specific inquiries or
partnership requests. Annual goal setting by the Port Authority will provide direction for allocation of limited
resources.
EXISTING BUSINESS RETENTION AND GROWTH
Goal: To increase the positive interactions and engagement with existing
businesses through partnership and networking in support of our
desirable small town atmosphere.
Objective: To increase the use of interactions, information and feedback to focus resources
effectively.
Implementation Strategies
2016-2019 Continue partnership and membership in regional marketing including but not limited to Greater MSP,
DEED, Positively MN, Rosemount Business Council, Dakota County Regional Chamber of Commerce
2016-2019 Continue “Open for Business” outreach and virtual incubator for start-up and existing businesses
2016-2019 Continue annual business appreciation activities
DOWNTOWN REDEVELOPMENT
Goal: To increase the number and variety of retail and commercial destinations
to maintain Downtown as a place of commerce.
Objective: To continue implementing the Development Framework for Downtown Rosemount
(July 2004) with its eight identified focus areas.
Implementation Strategies
2016 Initiate 2004 Development Framework for Downtown Rosemount Task Force study and “Next Steps”
2016 Engage business and residents for 2040 Comprehensive Guide Plan for downtown area
UMore PARK DEVELOPMENT
Goal: To increase sustainable business and employment opportunities within
an extended and long-term community development.
Objective: To increase clarity of scope, schedule and development costs.
Implementation Strategies
2016-2019 Engage UMORE development group to accelerate job creation, business and residential development
INDUSTRIAL / BUSINESS (AND TECHNOLOGY) PARK
Goal: To increase the quantity and quality of business and employment
opportunities for residents while broadening the sector and tax base.
Objective: To increase visibility and marketing direction for available development opportunit ies.
Implementation Strategies
2016-2019 Engage Business Park developer to accelerate job creation and business development
Commercial Niche Amenities
Goal: To increase the quantity and quality of sustainable business and
employment opportunities for residents to continue growing our
commercial and industrial sector tax base.
Objective:
-Increase the visibility and marketing of Rosemount to multi sector business opportunities.
-Pursue and support development of underserved niche or amenity business opportunities.
-Utilize data driven level of service in service and operational efficiency.
-Align with market absorption rates
Implementation Strategies:
2016 Market updated hotel study to developers/investors to secure a actionable project
2016-2017 Engage a retail consultant with strong marketing resources to mine for market opportunities