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CASE # 3 <br /> <br /> 2005 Update / 2006 Priorities <br />By: Scan M. Sullivan, Economic Development / TIF Specialist <br /> <br />Background: <br /> <br />5 tat/'/' has been working hard on acquiring, marketing and developing land in the City's industrial <br />;~reas, In 2004 a summary was provided to the EDA stating how much industrial development <br />had occurred over the past 6 years. A new summary has been completed and additional <br />i nlbrm at ion has been added to the summary for discussion. <br /> <br />Observations: <br /> <br />2005 was a very active year for industrial development and redevelopment. Approximately <br />'¢10,250,000 in new market value was created through the construction/expansion of eight <br />industrial buildings. These projects will create at least 25 new jobs for the City and have the <br />potential to create many more. The industrial growth in this community has reduced the City's <br />industrial land inventory. Currently, we have approximately 31 acres of land left for industrial <br />(tevclopmcnt. It is time to look toward the future and try to determine if the City should acquire <br />more land to accommodate this continued industrial growth. The redevelopment activities keep <br />m.~ving along as properties are put on the market for sale. Staff will continue to seize these <br />opportunitics and continue the redevelopment in EDA identified areas. <br /> <br />Recommendation: <br /> <br />EDA Action: <br /> <br />Based on Discussion <br /> <br />Review Checldist: <br /> <br />Corem unity Development Director <br /> <br />EDA: 1{}.12.05 <br /> <br />10 <br /> <br /> <br />