2019-2024 Economic Development Strategic Plan

o Create a plan to attract and/or retain young professionals and promote younger population Specific Metrics:  Affordable housing options  Younger demographic trends  Recreation or entertainment activities intended for younger demographic o Creating and sustaining a “Welcome Committee” to promote and exhibit a welcoming and accommodating feeling to new residents, businesses, and visitors. o Remember to protect the rights and interests of existing land owners when making changes o Remember that consistency and fairness are necessary for residents and businesses Population Projections, Land Uses & Future Capacity/Needs Pages 38, 44, 128 General Observations: We are generally concerned about the true market availability of land needed to support both housing and industrial growth in the near term (and potential the long term). Our concern specifically arises from a review of the following: o Future population projections were estimated on page 38 using a Woods & Poole Inc project. o Analysis based on population projections (page 38) and considering an average persons per household determined future per year housing needs are between 25 and 42 units. o It is not clear in the comprehensive plan how the existing land use and developed land compositions (pages 128 and 129) were compared with the growth projections to determine a future land capacity analysis for the planning horizon A new future land capacity analyses may be needed in the near term to ensure the community has the right mixes of land uses available over time to accomplish the community’s growth and economic development goals. There are generally two methods used for evaluating land capacity analysis depending on the point in time in which they are initiated. A “buildable lands analysis” is generally done between comprehensive plan planning horizons to determine if circumstances warrant a change to the comprehensive plan. Similarly, the use of a future land capacity analysis is the process undertaken in advance of creating a new planning horizon in order to reconcile population targets against current and future land uses, as well as market factors. 1. Buildable Lands Capacity Analysis – the process we are familiar with appears to have a few more steps than the process used for Spencer’s current projections. In the case of housing this involves: a. Forecasted population broken out into projected future demographics b. Assumptions as to type of housing needed for each demographic (based on affordability, wages, etc.) including a look at the types of dwellings desired by demographic: apartments, single family detached, townhomes, etc. c. Evaluation of net densities achieved in current land use patterns d. Evaluation of future net densities that can be achieved in undeveloped, vacant land e. May lead to discussion over development standards and achievable density within existing code f. Redevelopment assumptions for land underutilized g. Market availability factors (assumptions that consider not all available, vacant land is for sale over the planning horizon; land that may stay farmed as opposed to developed based on crop prices, etc.) h. Parcel by parcel land assumptions – reduction factors are applied to individual properties based on known wetlands (rivers, lakes, ponds, etc.); identified flood zones; development restrictions (well-head protection, etc.); and required set- asides (roads, dedicated open spaces, detention/retention facilities, etc.).

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