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Strategic Initiative <br />Department <br />Tactics <br />Initiation <br />Date <br />Completion <br />Date <br />Additional <br />Resources <br />Required <br />Additional <br />Tools <br />Required <br />Responsible <br />Party <br />Key Outcome Indicators /Metrics <br />Ensuring financial <br />stability <br />Finance <br />Determine adequate balances <br />Develop policy that outlines <br />fund balance minimums per <br />fund <br />Examine sufficient balance of <br />overall rainy day funds to avoid <br />the need to borrow <br />7/2013 <br />Ongoing <br />None <br />None <br />Diana Lund <br />• Retained bond rating of <br />AA+ <br />Finance <br />Calculate square footage cost <br />basis for The COR <br />6/2013 <br />7/2013 <br />None <br />None <br />Diana Lund <br />• Recouped at least 100 <br />percent of City's net <br />costs <br />City Administration/ <br />Department Heads <br />Evaluate other revenue <br />generating sources: franchise <br />fees, increased permit fees, <br />etc. <br />2013 <br />2014 <br />None <br />None <br />Leadership <br />Team <br />• Implemented new <br />revenue sources <br />City <br />Administrator /Finance <br />Evaluate selling city -owned <br />properties <br />2013 <br />2014 <br />None <br />None <br />Kurt <br />Ulrich /Diana <br />• Source of one -time <br />monies <br />Optimizing TIF to <br />support infrastructure <br />improvements <br />Finance /ED <br />Conduct a comprehensive <br />study to determine correct size <br />of TIF 14 <br />6/2013 <br />8/2013 <br />$8,000 <br />TIF 14 <br />Diana <br />Lund /ED <br />• Return 10 percent of TIF <br />14 taxable value to <br />general tax base <br />Engineering /ED <br />Identify needed infrastructure <br />improvements in TIF districts <br />Prioritize needs and establish <br />timeline for completion of <br />improvements <br />2013 <br />2018 <br />None <br />None <br />Bruce <br />Westby /ED <br />• Completed infrastructure <br />improvements in TIF <br />districts <br />Appendix E <br />Scenario: A New Day (Working Document) <br />Strategic Imperative I: Financial Stability <br />Ensure strategic economic development that complements the city's desired quality of life and builds a stable tax base, all while maintaining a low <br />tax levy. <br />Three - Year Strategic Action Plan <br />A NEW . s� MNNiN� <br />Page 1 of 13 <br />