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On July 31, 1985, the EDA designated Indian River County as a title IV redevelopment area which qualified the County to apply for federal funds to assist with economic development projects. In June, 1986, the OEDP Committee met and conducted the required annual review of the OEDP. This evaluation consisted of updating the statistical data, documenting progress in implementing the OEDP, and reevaluating the objectives, strategies, and priorities in the OEDP. The Annual OEDP Report was approved by the Board of County Commissioners on June 25, 1986. On September 11, 1986, the Planning and Zoning Commission voted 5 -to -0 to recommend approval of this request. On October 21, 1986, the Board of County Commissioners voted 4 -to -0 to authorize staff to transmit the proposed amendment to the State for review. On January 12, 1987, the Planning Department received comments from the State of Florida Department of Community Affairs, pursuant to Section 163.3184, Florida Statutes. These comments follow: "CPA -080: The proposed Economic Development Element to the comprehensive plan is a valuable addition, and has clearly been professionally developed. Our only recommendation would be to "beef up" some of the objectives and many of the strategies/policies to make them as specific and measurable as possible. While the Implementation Matrix is an excellent method of assigning task responsibility and prioritization, it may be valuable to reflect some of these tasking and timing criteria in -the verbiage of the objective and policy statements themselves. In general, however, we feel that the proposed element is extremely well done." ALTERNATIVES AND ANALYSIS: The purpose of establishing an Economic Development Element in Comprehensive Plan is to aid the implementation of the goals F.nd objectives of the Overall Economic Development Plan. ;�v establishing the Economic Development Element as part of to Comprehensive Plan, all new -development and rezoning propos,::=s "will be reviewed in conjunction with economic development pot=.cv as well as with those policies outlined in the other element: Ci- the ;fthe Comprehensive Plan. The proposed Economic Development Element is a synopsis of~� Overall Economic Development Plan. The element is divided into - two sections. The first "section is an analysis of exist=.n. conditions. This analysis includes a discussion of the role the transportation system in economic development,, and a revie:•r of the role of" --^-the `labor ""force;"""-"emploe characteristics of the County. The analysis also outlines the .potentials and constraints for economic development and z -- relationship between the Land Use Element and the proposed .Economic Development Element. The second section consists of the goals, objectives and policies which were formulated based on she potentials and constraints within Indian River County for econcnic devel*opment:" The goals and objectives are accompanied by an implementation matrix. which outlines these statements and their priority,. besides identifying the agency which is responsible for implementation of each of the strategies. RECOMMENDATION: Based on the above analysis, _including the Planning and Zoning Commission's recommendation, staff recommends that the proposed Economic Development Element, as presented, be established as part of Indian River County's Comprehensive Plan. FEB 17 X9.37 43 BOOK E'�a