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HomeMy WebLinkAbout4.a. Comprehensive Plan Update - Economic Development ChapterEXECUTIVE SUMMARY Port Authority Meeting Date: April 18, 2016 AGENDA ITEM: Comprehensive Plan Update - Economic Development Chapter AGENDA SECTION: Old Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a. ATTACHMENTS: 2030 Comprehensive Plan-Chapter 4:Economic Development APPROVED BY: LJM RECOMMENDED ACTION: Discussion: Review of Goals ISSUE There is a specific economic development section in the city’s Comprehensive Plan, which should be updated as part of the larger 2018 update. Attached is the current section. Please note the 5 goals contained within the Plan. Staff would like to start discussions with the Port Authority about the Economic Development section of the Plan. If the group is comfortable with the goals, staff will begin to update the section of the Plan. Please be prepared to make recommendations for the meeting so staff can begin work on this important chapter in the Comprehensive Plan CONCLUSION Staff would like to formalize the goals of the Economic Development chapter of the Comprehensive Plan. After that, staff will begin to update the Chapter narrative and bring the item back to the Port Authority for further discussion. CHAPTER 4: ECONOMIC DEVELOPMENT Rosemount Employment Base and Resident Employment Rosemount is uniquely situated in the Twin Cities with the four lane, north to south running, US Hwy 52 connecting Rosemount with the Minneapolis St. Paul Airport and downtown St. Paul; the four lane, east to west running, County Road 42 connecting Rosemount to Hastings and Burnsville and connecting to the major routes leading into downtown Minneapolis; and the Mississippi River on Rosemount's northeast boundary, including three barge terminals. The location of Rosemount's economic base is also uniquely situated compared to its population base. The majority of Rosemount's households are located in the western third of the City, while Rosemount businesses, industry, and institutions are spread through the community. Taking advantage of these economic development opportunities during the next 20 years will be the purpose of the Economic Development Element of the Comprehensive Plan. Table 4.1 shows the ten businesses and institutions that employ the most workers within Rosemount. Two of the top three employers are the educational institutions of Independent School District #196 and Dakota County Technical College. It will be important for Rosemount to maintain cooperative relationships with these institutions, not only because of their importance as employers within the City, but also to ensure that their education programs prepare trained workers for current and future Rosemount businesses. Table 4.1 also shows that seven of the remaining eight employers are manufacturing or industrial in nature. This illustrates the importance of industrial business for employment within the community, but also should caution the City that Rosemount is currently dependent on one sector of the economy. Rosemount should encourage additional retail commercial and professional office commercial into the community to provide balance to the economic landscape. xvi. Table 4.1: Rosemount Top Ten Employers in 2007 Product or Service Employees Flint Hills Resources Oil Refining 850 Independent School District #196 Education 767 Dakota County Technical College Education 300 Cannon Equipment Metal Manufacturing 150 Wayne Transports Trucking 140 Webb Properties, LLC Advertising 131 Spectro Alloys Aluminum Smelting 109 Endres Processing Recycled Food Products 90 Greif Brothers Paper Multiwall Bags 85 City of Rosemount Municipal Government 80 Source: City of Rosemount 18 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNISOTA Table 4.2 shows that 7,929 Rosemount residents were employed in 2004 while there were only 6,144 jobs offered by the businesses within Rosemount, which results in almost 1,800 people required to leave Rosemount to find employment. In looking at the various industries in which residents are employed, the disparity between where residents work and what employment opportunities are available in Rosemount is most prevalent in four industries: Wholesale Trade; Transportation, Warehousing and Utilities; Finance, Insurance and Real Estate; and Professional, Scientific, Management and Administration. Within the wholesale trade industry, there are 1,639 Rosemount residents employed while there are only 221 jobs available within the city, creating an employment pool of 1,418 workers. Table 4.3 shows the average yearly wage in Rosemount for a worker in wholesale trade is $45,335, while the metro area average yearly wage is $62,299. Wholesale trade businesses would typically be located within the business park and industrial /mixed use land use designations of the Comprehensive Plan. Within the transportation, warehousing and utility (transportation) industry, there are 555 Rosemount residents employed while there are only 236 jobs available within the city, creating an employment pool of 319 workers. Table 4.3 shows the average yearly wage in Rosemount for a worker in transportation is $48,675, while the metro area average yearly wage is $51,490. Transportation businesses would typically be located with the general industrial land use designations of the Comprehensive Plan. It should be noted that Rosemount currently has a significant amount of transportation businesses in town that have some less desirable land use characteristics, such a low employee to land area ratio and high demand for outdoor storage. Within the finance, insurance and real estate (FIRE) industry, there are 1,034 Rosemount residents employed while there are only 110 jobs available within the city, creating an employment pool of 924 workers. Table 4.3 shows the average yearly wage in Rosemount for a worker in FIRE is $32,261, while the metro area average yearly wage is $74,294. FIRE businesses would typically be located with the commercial or corporate campus land use designations of the Comprehensive Plan. Within the professional, scientific, management and administration (professional) industry, there are 517 Rosemount residents employed while there are only 231 jobs available within the city, creating an employment pool of 286 workers. Table 4.3 shows the average yearly wage in Rosemount for a worker in a professional field is $30,894, while the metro area average yearly wage is $58,288. Professional businesses would typically be located with the commercial, corporate campus or business park land use designations of the Comprehensive Plan. The City should recruit businesses in the wholesale trade, FIRE and professional industries to locate within Rosemount, while providing land for additional warehousing and utility businesses. There is a significant amount of Rosemount residents employed in these fields from which new businesses could draw their employees. The establishment of these businesses would create jobs that can support households and provide a market for other local businesses. 19 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA xvii. Table 4.2: Comparison of Employees to Employers within Rosemount in 2004 Rosemount Number of Employees Deficiency of Jobs Residents within Rosemount to in Employed by Businesses by Industry match Resident's Placet each Industry of Employment Agriculture, Forestry, Fishing, Hunting and Mining 26 32 6 Construction 715 811 96 Manufacturing 1,246 1,264 18 Wholesale Trade 1,639 221 1,418 Retail Trade 191 325 134 Transportation, Warehousing and Utilities 555 236 319 Information 107 75 32 Finance, Insurance and Real Estate 1,034 110 924 Professional, Scientific, Management and Administrative 517 231 286 Educational, Health and Social Services 1,103 2,240 1,137 Arts, Entertainment, Recreation and Food Service 427 439 12 Other Services (Except Public Administration)141 117 24 Public Administration 228 43 185 7,929 6,144 1,785 Source: Minnesota Department of Employment and Economic Development and US Census Bureau xviii. Table 4.3: Rosemount Industries in 2004 Average Average Establishments Employees Total Wages Weekly Wage Yearly Wage Agriculture, Forestry, Fishing, Hunting and Mining 4 32 1,846,751 1,127 57,711 Construction 59 811 46,605,926 1,105 57,467 Manufacturing 23 1,264 89,294,259 1,359 70,644 Wholesale Trade 23 221 10,019,071 871 45,335 Retail Trade 34 325 7,118,038 422 21,902 Transportation, Warehousing and Utilities 14 236 11,487,253 936 48,675 Information 6 75 2,210,703 564 29,476 Finance, Insurance and Real Estate 30 110 3,548,670 620 32,261 Professional, Scientific, Management and Administrative 68 231 7,136,551 594 30,894 Educational, Health and Social Services 39 2,240 74,420,020 639 33,223 Arts, Entertainment, Recreation and Food Service 32 439 4,450,177 195 10,137 Other Services (Except Public Administration)28 117 2,340,009 384 20,000 Public Administration 3 43 2,279,736 1,020 53,017 363 6,144 262,757,164 822 42,766 Source: Minnesota Department of Employment and Economic Development 20 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA Rosemount Port Authority In 1979, the City of Rosemount established the Rosemount Housing and Redevelopment Authority (HRA) which conducted a number of projects, most notably the Rosemount Plaza block located southeast of the intersection of 145 Street West and South Robert Trail. In 1991, the City converted the HRA into the Rosemount Port Authority for the purpose of undertaking housing, economic development and redevelopment activities within the City. The Port Authority has seven members consisting of the Mayor, three City Council members, and three appointed residents. The Port Authority sets the economic development policy for the City, acquires and demolishes buildings on blighted and underutilized land for redevelopment, and recruits new businesses to locate within Rosemount, among many other responsibilities. Many of the programs described within the Economic Development Element, such as Downtown Redevelopment and the establishment of the Rosemount Business Park, have been or are being accomplished through the work of the Port Authority. The Port Authority is responsible for implementing the Goals and Objectives of the Economic Development Element, as well as continuing to monitor the economic health of the City while recruiting new business and encouraging the growth of existing businesses. Downtown Redevelopment The City of Rosemount adopted a redevelopment plan for downtown Rosemount in 2004 entitled the Development Framework for Downtown Rosemount. The Framework covers the properties in the historic downtown, roughly described as the blocks on both sides of South Robert Trail from 143` Street West on the north to approximately 148 Street on the south. The Framework addresses eight focus areas within downtown: St. Joseph's Church, Crossroads North; Crossroads South; Core Block West; Core Block East; Legion Block; Genz -Ryan; and Fluegel's. To help accomplish the downtown redevelopment, the City has established the Downtown Brockway Redevelopment Tax Increment Financing (TIF) district. The TIF district uses the increased tax income (also known as tax increment) from the former Brockway Glass factory redevelopment into the Harmony residential neighborhood to pay for t he mo land acquisition, land clearing, and infrastructure costs associated with downtown redevelopment.Brockway Glass Factory TIF funds have been instrumental in land assembly in Core Block East and will be used for infrastructure and a parking space construction for the proposed redevelopment. Harmony Neighborhood 21 2030 Comprehensive Land Use Plan 4 ROSEMOUNT MINNESOTA The City has received almost $1.6 million from the Metropolitan Council's Livable Community Demonstration Account (LCDA) grant for land acquisition costs and infrastructure improvements for the Core Block East project. The Core Block East project is a three story mixed use building with 106 apartment units and 12,000 square feet of commercial space on the South Robert Trail 3 y? 0 frontage and is being developed by Stonebridge Development and Acquisition. The Dakota County4„....ot_Community Development Agency (CDA) is providing bonding for the project with the requirement that 20% (21 units) of the 106 units will be affordable from persons making less than Core Block East, May 2008 50% of the metro area median income. Additional LCDA and CDA grant r' opportunities will be explored as future downtown redevelopment projects are I proposed.t The City owns the former Genz- Ryan d property located on the west side of the Rosemount Mixed -Use Development B K V 14700 block of South Robert Trail. The Northwest Respective property is currently used as short term office and storage space for numerous businesses within Rosemount. The Framework development concept for this block is for new office commercial space. The City has, and will continue to, solicit requests for proposals (RFPs) for the redevelopment Genz -Ryan block. The City has been active in the redevelopment of other focus areas to improve the lifestyle and work setting of downtown F.Rosemount. The City has purchased the former St. Joseph's f-Church and School. The church has since moved to the southeast corner of Biscayne Avenue and Connemara Trail, but r a the school will remain downtown through 2011. The City has given the south half of St. Joseph's to Dakota County for the I,,construction of the Robert Trail Library. The existing church and school building are planned to be converted into a multiple use community space, such as a senior, teen, and cultural St. Joseph's Church center. In addition, the City t' 911 I has applied for federal SAFETYLU funds for the E 11constructionofaparkandrideortransitstationII IJ 1 in the location of the Legion focus area. Robert Trail Library 22 2030 Comprehensive Land Use Plan JCROSEMOUNT MINNESOTA The City has established the Downtown Code Improvement Program that provides grant funding for improvements to bring the existing downtown buildings into compliance with the building code. The program is available to any business or property owner whose building is listed within the Framework and is making exterior and facade improvements to the building in accordance with the Downtown Rosemount Design Guidelines. To encourage the reinvestment in the fac improvements, business and property owners who pay with their own funds for the facade improvement can request grant funds to pay for code improvements to their building. Business Recruitment, Assistance, and Retention The City participates in the Twin Cities Community Capital Fund (TCCCF), which is a cooperative venture by numerous metropolitan Cities and development financing organizations. Through the TCCCF, revolving loan funds and other economic development funds are pooled together to have the ability to issue larger loans and funding than what would be available independently. Loans, with participation from a financial institution, generally range from $50,000 to $1,000,000 for fixed assets, including land and building purchase, building construction, leasehold improvements and renovations, acquisition, renovation or moving machinery and equipment. The City advertises the economic development opportunities available through a number of mechanisms, including direct mailings to business and commercial brokers; advertisements in trade journals; CD and paper newsletters containing recent growth statistics and available commercial space; and video presentations of the City's economic development programs. In addition, the City has solicited for a number of RFPs for projects such as Core Block East and Genz -Ryan. The City's relationships with the educational institutions within Rosemount, such as Rosemount School District #196 and Dakota County Technical College, and the greater region, such as Inver Hills Community College and the University of Minnesota, are important for business recruitment and the health of the local economy. Businesses that are looking to locate within Rosemount have concerns that there is an existing base of well educated employees to recruit from, as well as local educational institutions that have training programs to create new worker and provide continuing training and education to existing employees. It is important for Rosemount to work with the local educational institutions to ensure that their training programs will support needs of the existing businesses within Rosemount and provided a well educated employee pool for future businesses to draw from. Rosemount Business Park The City has established the Rosemount Business Park, which contains about 280 acres of contiguous land roughly bounded by County Road 42 to the north, a line one quarter of a mile north of County Road 46 to r i the south, Biscayne Avenue to the east, and the Union Pacific rail line and South Robert Trail to the west. The Rosemount Business 23 2030 Comprehensive Land Use Plan at ROSEMOUNT MINNESOTA Park was initiated with the City purchasing the northern 80 acres of the business park and establishing a TIF district to provide the initial infrastructure to the park. The original 80 acres have since been developed with seven new buildings housing businesses such as Webb Advertising, Cannon Equipment, and Associated Wood Products. In 2005, the TIF district was retired and the remaining 195 acres of the business park will be developed with private financing. Retail Commercial The City currently has about 100 acres of land developed with retail commercial uses. The retail businesses are predominately located either in downtown Rosemount or in a district west of South Robert Trail and south of County Road 42. The retail businesses are predominately small service retail businesses, several restaurants, and two grocery stores. The vacant retail commercial space in town is located within several downtown buildings, small portions of newly constructed multiple tenant commercial strips, and the former Knowlan's grocery store. There are no general merchandise, home improvement, or other types of big box stores in Rosemount. For this reason, most Rosemount residents are required to leave the city to fulfill their daily or weekly shopping needs, typically to the communities to the west and north, such as Eagan, Apple Valley, Burnsville, and Lakeville. Recent efforts to solicit big box businesses to Rosemount have been unsuccessful for a number of reasons, but businesses most commonly cited the lack of direct controlled access to major roads and the lack of residential households. Nearly 9,000 additional households are expected to be constructed by 2030, which is an increase of 120% over the nearly 7,500 households within Rosemount today. The Land Use Element of the Comprehensive Plan should consider locating future retail commercial land uses near these new households and adjacent to controlled accesses to major roads. Office Commercial Rosemount has minimal office space, with the current office supply normally occupied with either professional office, such as dentists or insurance agents, or associated with existing manufacturing or industrial businesses. In 2007, a 25,000 square foot multiple tenant office building was constructed on the southeast corner of Chippendale Avenue and Carrousel Way. The only other significant office construction in Rosemount during 2007 occurred in conjunction with the maintenance shop expansion at Flint Hills Resources. As shown in Table 4.3, there are over 1,000 Rosemount residents who are working in the finance, insurance, and real estate (FIRE) field, while Rosemount FIRE businesses employ only 110 people. This deficiency of about 900 residents who need to leave Rosemount to work in the FIRE field would indicate that there is a need for additional office space within Rosemount. Table 4.3 also shows a deficiency of almost 300 residents who need to leave Rosemount to work in the professional, scientific, management, and administrative field. The Comprehensive Plan should designate commercial and corporate campus land not only to support independent stand -alone office buildings, but also to ensure the ability to provide office space needed in conjunction with manufacturing and industrial businesses as well. 24 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA Industrial Rosemount has a long history of industrial development, from manufacturing facilities near the downtown, such as Greif Paper and the former Brockway Glass factory, to heavier industrial on the east near US Hwy 52, such as Flint Hills Refinery (formerly known as the Great Northern Oil Refinery and the Koch Refinery), Continental Nitrogen, and CF Industries.4 a More recently, junk car parts and propane storage industrial development has te occurred near the intersection of South w 4 I" It r Robert Trail and County Road 46;rI office /warehouse and manufacturing E': industrial within the Rosemount Business Park; trucking terminals near the interchange with US Hwy 52 and County Flint Hills Resources Road 42; and smelting and food recycling businesses along Minnesota Highway 55. Rosemount has become increasingly concerned about its image within the region due to the heavy industrial uses on the east side of Rosemount and the proliferation of low tax base industrial sites requiring large amounts of outdoor storage, such as truck terminals and junk car parts providers. Within the last five years, the City has changed its general industrial zoning to limit the amount of outdoor storage and require a minimum building size and has implemented a heavy industrial zone that will allow the existing heavy industrial uses to invest in their businesses but discourage a proliferation of new heavy industrial uses. While Rosemount is discouraging new heavy industrial or other industrial businesses that require significant amounts of outdoor storage, Rosemount does encourage new manufacturing, warehousing, and trade industrial businesses to locate within Rosemount. These businesses bring jobs that can support an entire family while providing a significant industrial property tax base. In addition, Table 4.3 shows that more than 1,400 Rosemount residents in the wholesale trade field need to leave Rosemount to work everyday, as well as over 300 people in the transportation, warehousing, and utility fields. Providing sufficient business park and industrial /mixed use land within the Comprehensive Plan would allow these businesses to locate within Rosemount. UMore Park The University of Minnesota owns about 5,000 contiguous acres of land, 3,000 acres of which is located in southern Rosemount and 2,000 acres of which are located in northern Empire Township. The University currently uses the land as a research farm named the University of Minnesota Outreach, Research and Education (UMore) Park. Within this Comprehensive Plan, UMore Park will continue to be designated as Agricultural Research, but the University has begun planning efforts to evaluate the possible development of a mixed use, full service community. 25 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA For the first step of the planning process, the University hired Sasaki and Associates to develop the UMore Park Strategic Plan. The plan that Sasaki generated proposes a community of 16,000 households mixed in with retail commercial, employment centers, and institutional uses. The Sasaki plan calls for approximately 2,500,000 square feet of commercial and industrial (500,000 square feet of retail, 1,000,000 square feet of office, and 1,000,000 square feet of industrial) development, mostly located on the eastern third of UMore Park. The University has initiated the second phase of the planning by hiring Design Workshop, based in Denver, Colorado, to construct a design guidebook to facilitate the development of the mixed use community. The City is working in cooperation with the University and the other interested parties to ensure that the plans for the development of UMore Park are compatible with the goals of the Comprehensive Plan. This work will not be completed in time to be submitted with this Comprehensive Plan. Before the University chooses to proceed with development, the City will submit a Comprehensive Plan amendment and required environmental review documents covering the proposed development for approval by the Metropolitan Council and other applicable agencies. The City shall determine the appropriate environmental review process based on the magnitude of the development, the potential impacts, and State agency guidance on the appropriate level of review. Fiscal Disparity In the seven county Twin Cities metropolitan (metro) area, the tax base gained from new commercial or industrial growth is shared by the entire metro area, not solely by the community in which the economic development occurs. This commercial and industrial C /1) tax base sharing program is called fiscal disparity. Since 1971, 40% of the tax base of any new C/I development is taken from the local community and given to a common metro area pool. This common pool is then redistributed to all the communities based on their total tax base (commercial, industrial, residential, and agricultural). Essentially, fiscal disparity takes tax base from communities that have seen significant economic development since 1971 and gives it to communities in which post -1971 commercial /industrial development is a small percentage of their total tax base. Various justifications are given for this program, most notably to discourage individual communities from competing for the same new businesses. Fiscal disparity generally takes C/I tax base from the first and second ring suburbs along the I -494 and I -694 strip that have seen significant growth since 1971 (Bloomington, Minnetonka, Eagan) and gives it to the inner cities that had significant C/I tax base before 1971 (Minneapolis and Saint Paul) or to suburban communities that have lower levels of C/I tax base compared to their total tax base (Cottage Grove, Apple Valley, Prior Lake). Table 4, attached to this executive summary, shows that Minnetonka lost $6.8 million in tax base while Saint Paul gained $19 million and Cottage Grove gained $2.1 million in tax base due to fiscal disparity. Rosemount is affected fairly neutrally by fiscal disparity, receiving only about 100,000 in tax base. 26 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA xix. Table 4.4: Fiscal Disparity of Select Cities Payable in 2006 Fiscal Post -1971 C/I Tax Pre -1971 C/I Post -1971 C/I Total 2006 2004 Disparity Base as a percentage Tax Base Tax Base Tax Base Population Tax Base of Total 2006 Tax Adjustment Base Prior Lake 278,935 1,328,800 22,294,144 21,156 1,360,601 5.96% Cottage Grove 537,275 3,721,645 28,043,619 31,774 2,118,313 13.27% Lakeville 1,215,214 8,574,915 55,545,397 49,097 1,277,635 15.44% Apple Valley 1,113,396 8,269,598 52,279,631 48,875 1,434,275 15.81% Rosemount 702,215 3,929,398 21,645,806 17,740 101,288 18.15% Saint Paul 25,299,251 42,687,458 224,854,823 287,410 19,039,665 18.98% Minneapolis 56,441,944 81,946,785 387,469,064 382,400 6,799,501 21.15% Minnetonka 3,361,788 25,599,440 90,431,553 51,480 6,851,418 28.30% Eagan 2,654,377 25,160,598 85,077,507 65,764 4,186,797 29.57% Source: Minnesota House of Representatives Research Department Economic Development Element Goals and Policies 1. Provide local shopping opportunities for residents to purchase their daily and weekly needs within Rosemount. a. Work with the Dakota County Regional Chamber of Commerce to recruit more retail commercial businesses to locate within Rosemount. b. Provide retail commercial land adjacent to planned controlled accesses onto major roads. c. Provide retail commercial land near existing and planned households. d. Continue to use the Downtown Code Improvement Plan, Twin Cities Community Capital Fund, and similar programs to assist businesses to improve existing retail commercial buildings. e. Continue to actively market Rosemount to commercial brokers and retail businesses through the Rosemount marketing strategy to expand the retail opportunities within the City. 2. Expand Rosemount's employment base to provide jobs that can support an entire household. a. Provide office commercial land to support businesses with the financial and professional fields. b. Provide additional light industrial land to support wholesale trade, warehousing, and utility businesses. c. Work cooperatively with the Dakota County Technical College and Rosemount School District #196 and other educational institutions within Dakota County to train workers with the skills needed for existing and future Rosemount businesses. d. Pursue outside funding sources to develop or redevelop land for commercial and industrial uses, such as Metropolitan Council Livable Communities Demonstration Account and Tax Base Revitalization Account, Dakota County Community Development Agency, Minnesota Department of Employment and Economic Development, and other applicable grants. 27 2030 Comprehensive Land Use Plan 4 ROSEMOUNT MINNESOTA e. Continue to actively market Rosemount to commercial brokers and appropriate businesses through the Rosemount marketing strategy to recruit businesses that provide wages to support an entire household. 3. Expand Rosemount's employment base to provide employment opportunities for all residents. a. Provide land that would support a variety of commercial and industrial businesses to ensure a sufficient mix of employment opportunities for all skilled Rosemount residents. b. Work cooperatively with the Dakota County Technical College and Rosemount School District #196 and other educational institutions within Dakota County to train workers with the skills needed for existing and future Rosemount businesses. c. Pursue outside funding sources to develop or redevelop land for commercial and industrial uses, such as Metropolitan Council Livable Communities Demonstration Account and Tax Base Revitalization Account, Dakota County Community Development Agency, Minnesota Department of Employment and Economic Development, and other applicable grants. d. Continue to actively market Rosemount to commercial brokers and appropriate businesses through the Rosemount marketing strategy to recruit additional businesses. 4. Balance economic growth within the overall tax base of Rosemount. a. Provide land available for a balance of commercial and industrial businesses, including expanding the retail and office commercial sectors while continuing to support industrial businesses. b. Work cooperatively with the Dakota County Technical College, and Independent School District #196 and other educational institutions within Dakota County to train workers with the skills needed for existing and future Rosemount businesses. c. Continue to provide for additional residential growth to serve as an expanding employee pool for Rosemount business, a growing market to attract additional retail establishments, and balanced tax base when considering the regional Fiscal Disparity program. 5. Provide for economic development opportunities that create a vibrant Downtown that maintains a home town feel. a. Continue Port Authority involvement in redevelopment projects that implement the Development Framework for Downtown Rosemount. b. Pursue outside funding sources to redevelop downtown properties, such as Metropolitan Council Livable Communities Demonstration Account and Tax Base Revitalization Account, Dakota County Community Development Agency, Minnesota Department of Employment and Economic Development, and other applicable grants c. Continue to use the Downtown Code Improvement Plan, Twin Cities Community Capital Fund, and similar programs to assist businesses to improve existing retail commercial buildings and implement the Development Framework for Downtown Rosemount and Downtown Design Guidelines. 28 2030 Comprehensive Land Use Plan 4ROSEMOUNT MINNESOTA Draft Over-arching Goals June 2016  Maintain a manageable and reasonable growth rate that does not adversely impact the delivery of services but allows the community to grow and become more diverse from now until 203040. Provide multiple development opportunity areas to ensure that reasonable development goals can be achieved and are not dependent upon any one landholder.  Preserve the existing rural residential areas designated in the Comprehensive Plan and increase housing opportunities in the community to attain a balance of life cycle housing options; with special attention to changing community demographics and the demands of the increasing senior and millennium population.  Promote commercial renewal and rehabilitation in the Downtown and along Highway 42 while accommodating attracting new commercial development along County Highway 42 at key intersections; Hwy 3, Akron Avenue, US Hwy 52. appropriate transportation corridors such as Akron Avenue and County Highway 42; County Highway 42 and MN Highway 3; and County Highway 42 and US Highway 52.  Encourage additional high quality, job creating and tax base generating general industrial and business park development in the northeast portion of the community and within the Rosemount Business Park.  Preserve natural resources and open space within the community and ensure development does not adversely impact on-going agricultural uses until urban services are available.  Incorporate sustainability precepts into development decision making to move toward a more resilient community. Promote use of renewable resources by creating sustainable development and building green.  Collaborate and provide connections between the City and surrounding cities, townships, Dakota County and public and private schools in the area.  Work with the University of Minnesota to create a neighborhood development that can successfully integrate into the community while achieving goals of job creation, health, energy, and education.  Collaborate with partners and provide services and community amenities that benefit (such as libraries, community center, senior center, etc.) to all groups of residents.  Collaborate with appropriate agencies to identify transit corridors and bring additional transit opportunities into the community.