Board of Directors Regular Meeting Agenda


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Meeting Date: 01/22/2015  

SUBJECT MATTER:
Receive, consider and act upon a recommendation to the Township Board regarding an Economic Development Plan / Vision Statement ;
FISCAL IMPACT:
BACKGROUND:
In 2013, The Township Board of Directors created the Ad Hoc Economic Development Committee and charged the committee with development and implementation of the Township’s strategic plan regarding the Township’s role in economic development. Specifically, the committee was tasked with:

1. Evaluation and recommendation on the Township’s economic development goals and objectives.

2. Evaluation and recommendation on appropriate levels of funding for the Township’s economic development reserve account, with consideration of:
  • Potential current projects and the amount of funding required.
  • Proposed future projects and the amount of funding required.
  • Unanticipated future opportunities and the desired amount of funding to have available for use.

3. Evaluation and recommendation on potential current and future projects that may be funded by the economic development reserve account.

While work continues on tasks 2 and 3, the Committee recommends that the Township Board of Directors adopt the attached Economic Development Plan / Vision Statement, which incorporates the Township's Economic Development Vision and Goals, as adopted by the Board during the Strategic Plan review; the current role of the Ad Hoc Economic Development Committee, as defined by the Board during the committee's creation; a summary of the Township's past economic development projects; an implementation strategy with potential projects to be considered; and the Township's current economic development tools. If adopted by the Board, the plan will provide the framework for future economic development discussions and recommendations from the committee as well as the framework for discussion and decisions by the Township Board.
RECOMMENDATION:
Adopt the Economic Development Plan / Vision Statement, as recommended by the Ad Hoc Economic Development Committee.
Attachments
Economic Development Vision Statement


    

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