2016.01.12 CC Minutes - Laserfiche WebLink

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January 12, 2016 Page 8 of 10 Economic Development Commission (EDC) has spent nearly all their meetings focusing on New Brighton Exchange related topics. Toward the end of 2014, the EDC expressed a desire to broaden their focus. To build consensus surrounding what topics might be relevant and of interest to Commissioners, two months (January and February of 2015) were spent examining what economic development means. This discussion evolved into four main topics, being: • Physical Redevelopment (i.e. New Brighton Exchange, which the EDC will focus on as projects arise) • Business Retention & Expansion efforts/programs/initiatives • Place Making (focus towards creating a sense of place) • Housing programs These four topics were advanced to the City Council during a joint EDC/City Council meeting on March 18, 2015. Assistant Director of Community Assets and Development Gundlach stated following that joint meeting, the EDC decided to focus on the Business Retention and Expansion (BR&E) item. In the months following, the EDC spent much of 2015 debating how and if to enact BR&E in New Brighton. In summary, the EDC felt much of what City staff is already doing amounted to BR&E efforts that are working in New Brighton, which includes: • Promoting economic development projects, including the Council's Economic Development strategic priority, through the City's quarterly newsletters and annual report. • Continuing to work cooperatively with the business community through the land use planning process, including fielding day-to-day regulatory needs of the City's current, and future business community. • Continuing to cooperate with the business community as they seek state-wide BR&E benefits via DEED's Minnesota Investment Fund and Job Creation Fund programs, both of which require City participation/cooperation. • Engaging with the local chamber as necessary when New Brighton related topics are discussed. • Participating in County -wide economic development efforts via Accelerate Ramsey County and promoting County initiatives such as economic gardening. Assistant Director of Community Assets and Development Gundlach commented that beyond formalizing existing BR&E efforts into a program, the EDC felt it was important to take a more active role in recognizing the business community. To do this, staff recommended doing a quarterly "New Brighton Business Spotlight", which will be featured on the City's website. Staff will interview four businesses yearly to promote what they do and how long they've been in New Brighton. Related to this is expanding upon the City's web -based content in a way the business community finds value. This includes easy access to demographic information, maps, available properties lists, and links to non -City economic developments efforts of the local Chamber of Commerce, DEED, and Greater MSP. This content will be developed in the coming months. Lastly, the EDC was interested in providing cost-effective services to the business community, beyond what is already being done. This is where the Metropolitan Consortium of Community Developers' (MCCD) Open to Business program steps in, providing business services specialists that complement the City's existing expertise. Open to Business provides assistance in areas including financial management, bookkeeping set-up and training, loan packaging, business plan assistance, real estate analysis, marketing assistance, strategic planning, business regulation, and professional referrals. The EDC's recommendation includes entering into a contract for MCCD's Open to Business services. Staff has attached a list of marketing efforts the City will employ, in an effort to reach interested persons who can benefit from this