Fiscal Note
The report includes a number of recommendations varying timelines and estimated costs. Implementation of the recommendations will be implemented primarily through future work plans and budgets.
Title
AMENDED - Accepting the City of Madison 3-5 Year Strategic Economic Development Implementation Plan.
Body
WHEREAS, the City of Madison's most recent economic development plan was adopted in 1983; and,
WHEREAS, the Comprehensive Plan, adopted in 2006, recommended the development of a specific economic development plan and three to five-year strategy; and,
WHEREAS, the Common Council authorized the hiring of the firm Ticknor & Associates to prepare a 3-5 Year Economic Development Strategic Implementation Plan; and,
WHEREAS, the City of Madison received generous financial support from Madison Gas & Electric ($5,000), Alliant Energy ($1,000), and the REALTORS Association of South Central Wisconsin ($1,000) toward the preparation of the Plan; and,
WHEREAS, the City of Madison is grateful for the assistance of over one hundred individuals who contributed to the preparation of the Plan through interviews, listening sessions, a strategy retreat, and draft plan presentation sessions; and,
WHEREAS, on July 2, 2008 the City of Madison Economic Development Commission unanimously moved to accept the document prepared by Ticknor & Associates and forward to the Common Council for acceptance; and,
WHEREAS, the Plan makes a series of recommendations concerning staffing, programs, projects, and policies.
NOW THEREFORE BE IT RESOLVED that the 3-5 Year Strategic Economic Development Implementation Plan prepared by Ticknor & Associates, and the recommendations contained therein, is hereby accepted; and,
BE IT FINALLY RESOLVED that the Economic Development Commission will continue to work with the Common Council, Mayor's Office, and Department of Planning & Community & Economic Development to prioritize the recommendations outlined within the 3-5 Year Strategic Economic Development Implementation Plan, with the intention that said recommendations be implemented through future work plans and budgets. These work plans shall be approved by the Common Council annually prior to the department budget recommendations being made each year.