HomeMy WebLinkAbout5.c. Goals of the Rosemount Port Authority
EXECUTIVE SUMMARY
Port Authority Meeting: July 21, 2020
AGENDA ITEM: Goals of the Rosemount Port Authority AGENDA SECTION:
New Business
PREPARED BY: Eric Van Oss, Economic Development
Coordinator AGENDA NO. 5.c.
ATTACHMENTS: Mission and Goals of the Rosemount
Port Authority APPROVED BY: LJM
RECOMMENDED ACTION: Motion to Approve the Updated Goals of the Rosemount Port
Authority
BACKGROUND
At the direction of the Chair, staff met to update the Goals of the Rosemount Port Authority to provide
direction for allocation of staff and City resources. The purpose of the Rosemount Port Authority is to
encourage and carry out economic development and redevelopment within the City.
The Goals document reaffirms the mission of the Port Authority, while also outlining past completed goals,
as related to the last document, and ongoing initiatives. Staff updated completed implementation strategies
and added new strategies based on past direction from the Port Authority.
RECOMMENDATION
Staff has modified the adopted Port Authority goals document based upon direction from the Chair and
internal discussions about upcoming the work program. If members are comfortable with the modifications
made, staff would recommend approval of the document; if there are additional changes, staff can bring the
item back in August.
Mission and Goals of the Rosemount Port Authority
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 2040 Comprehensive Plan.
• Support the redevelopment within the Downtown Framework (updated in 2017).
• 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.
Purpose
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. Periodic goal setting by the Port Authority will provide direction for
allocation of limited resources.
To increase the quantity and quality of sustainable business and employment
opportunities for residents to continue growing our commercial and industrial sector
tax base
Implementation Strategies:
Ongoing Market hotel sites to developers/investors/partners to secure an actionable project
Ongoing Continue partnership and membership in regional marketing including but not limited to
Greater MSP, DEED, Mn Marketing Partnership, Dakota County Regional Chamber of
Commerce
Ongoing Continue “Open for Business” outreach and virtual incubator for start-up and existing
businesses
Ongoing Continue annual business appreciation and Expo activities
Ongoing Engage UMore development group to accelerate job creation, business and residential
development
Ongoing Pursue commercial site planning and visioning at designated retail nodes
Ongoing Support the pursuit of an indoor rec center and quality of life projects
Ongoing Market the Opus and UMore sites for a large industrial user
Ongoing Continue to work with Xcel and DEED on certifying Shovel Ready sites
Ongoing Create a targeted outreach to increase the visibility and marketing of Rosemount for multi
sector business opportunities
Ongoing Pursue and support development of underserved niche or amenity business opportunities
Ongoing Engage Business Park developer to accelerate job creation and business development
Ongoing Utilize technology, social media, website redesign, and mapping to increase effectiveness and
community visibility
Ongoing Initiate marketing and business visibility campaigns for existing restaurants and commercial
services
Ongoing Disseminate Covid-19 related information regarding operations, regulations, business
financing and other related programs
Completed Strategies:
Completed 2004 Development Framework for Downtown Rosemount Task Force study and “Next Steps”
Completed Engage business and residents for 2040 Comprehensive Guide Plan for downtown area
Completed Engage a retail consultant with strong marketing resources to mine for market opportunities