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THE CITY OF 15 <br /> RTiASXTON.�{ um CITY COUNCIL AGENDA REPORT <br /> September 3, 2013 <br /> Economic Development <br /> TITLE: PRESENTATION ON THE BACKGROUND REPORT FOR AN UPDATE TO <br /> THE CITY'S ECONOMIC DEVELOPMENT STRATEGIC PLAN <br /> SUMMARY <br /> A key component of the scope of work for an update to the City's Economic <br /> Development Strategic Plan is the preparation of a Background Report to provide an <br /> overview of the city's current economic climate — including review and analysis of <br /> citywide demographic and employment patterns, commercial real estate market <br /> overview, and sub-area industry analysis with fiscal contribution — as a foundation for <br /> the develop of economic development strategies based on identified strengths and <br /> opportunities. The draft Background Report is being shared with the City Council to <br /> solicit comments on the findings and direction on the development of the strategic plan. <br /> RECOMMENDATION <br /> Review and comment on the findings in the Background Report and offer initial input for <br /> the preparation of an updated Economic Development Strategic Plan. <br /> FINANCIAL STATEMENT <br /> The update to the City's Economic Development Strategic Plan is funded through the <br /> Economic Development Department's budget. <br />