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Council adopts 2026 Economic Development Strategy, emphasizing predictability and community benefits
Summary
After a presentation by consultant Jason Godfrey and staff, council voted unanimously to adopt the 2026 Economic Development Strategy. The plan emphasizes a clear project‑evaluation framework, tools such as TIF, CPACE and MEEDC grants, and targeted development sites; council asked staff to assign implementation tasks to departments and track progress.
The City Council voted to adopt the 2026 Economic Development Strategy after a detailed presentation by Better City consultant Jason Godfrey and introductory remarks from Community Development Director Kristen Kapalinsky.
Godfrey outlined the strategy’s focus on market positioning and predictable processes, urging the city to define objective criteria for evaluating projects and to prepare community benefits language in advance. “You have to look at this as really a competitive marketplace,” he said, describing tools and incentives (MEEDC grants, CPACE, and tax increment financing through the DDA) consultant teams modeled to bridge project financing gaps.
The presentation reviewed six development sites and two illustrative deep dives where the consultant found current market conditions (high interest rates and construction costs) often require vertical housing over retail and targeted incentives for projects to pencil. Council members asked about an implementation matrix and staff said the next steps will include departmental task assignments and regular tracking via monthly reports and the broader strategic plan process. Council Member Baker moved to adopt the plan; the motion was seconded and passed unanimously.
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