AgdaPkt 2006-10-09 - Laserfiche WebLink

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9B Page 5 Ne�ct Steps Economic Deve{opment Element Foilowing your discussion and general direction, the Econamic Devefopment Element together with the other E{ements, wilf then be compiled and packaged together for additional review by the Pianning Commission, and ultimately for review again by the City Council. The next Element to be discussed will be the Land Use Element. Staff will first focus on the Downtawn Precise Plan, and will be working on this with the Planning Commission for the remainder of 2006. Staff wili then present#he document#o the C+ty Councii in January, 2007. Following discussion on the Downtown Precise Plan, staff will then begin to#ocus on the land use issues in the Bay#ront Area and efsewhere in the City. Ecanomic Development tmplementation P1an The Element is intended to provide a g�neral direction far Economic Development city- wide, and is very broad in scopa. The Implementation Plan is intended to be more specific, action oriented, and updateci on a more frequent basis. If the Council conceptuaily approves the Efement as presented, and agrees with the recommendatians as sef forth in the attached [mplementatian Plan, you could alsa conceptuafly apprave the tmplementation Plan_ As long as you have general concurrence an the vision, goals, and policies as proposed in the Element,which will come back to you far approva! at a much later date wifih the entire Genera! Plan, you could authorize staff ta begin work on the Implementation Plan now. Staff would then prepare an action plan for carrying out the abjectiv�s. Altemative Delay approval of the Economic Development Implementatian Plan until the Economic Development Element has focmal{y been approved as part of the overall General P{an. This would delay action an any new initiatives contained in the Implementation Plan. Fiscal tmpact There is no effect an the current budget for FY 06-07. If the Cauncil chooses, #here could be modifications ta the FY 07-08 budget to provide mare suppart for economic development. Conclusian The adoption of an Economic Development Element of the General Plan will be a significant step in ensuring a focus on economic development efForts ovsr the next twenty years. As an optiona!element, it wili have a more prominent role than in previous general plans. The 5-Year Ecanomic Devefopment implementation P(an will provide assurances that staff is warking on ecanamiC develapment efforts as a routine and will be measuring progress along the way. Having a sharter#ime line than the Element, it will require more frequent Page 4 of 5