HomeMy WebLinkAbout6.a. Exec Sum port goals
E X E C U T I V E S U M M A R Y
Port Authority Regular Meeting: April 19, 2016
AGENDA ITEM: Approval of Port Authority Goals AGENDA SECTION:
Old Business
PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 6.a.
ATTACHMENTS: Draft Goals APPROVED BY: ddj
RECOMMENDED ACTION: Motion to Approve 2016-17 Goals
BACKGROUND
At the last meeting, Chair Weisensel proposed some modifications to the draft goals. The modifications
have been made and are reflected in the attachment. Staff did not receive any additional feedback on the
proposal so it is being brought back for final approval
RECOMMENDATION
Motion to approve 2016-17 Goals.
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
Downtown Redevelopment
UMore Park – an evolving sustainable community development
Industrial / Business (and Technology) Park
Commercial Niche Amenities
Guiding Principles
Support responsible and sustainable growth within Rosemount’s 2030 Comprehensive Plan.
Support the redevelopment within the Downtown Framework (2004).
Build trust and partnership with our business, educational, and residential stakeholders.
Affirm relationships and engagement with existing business community.
Welcome start up and relocating businesses supporting their growth and development.
Goal
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.
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.
Objectives:
-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 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
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
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
2016-2019 Engage UMORE development group to accelerate job creation, business and residential development
2016-2019 Engage Business Park developer to accelerate job creation and business development view