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BOOK. i � � rAGE,b . . 1 7 7C OVERALL ECONOMIC DEVELOPMENT PLAN (OEDP) ANNUAL REPORT x997-98) - ECONOMIC DEVELOPMENT ADMINISTRATION (BDA) (CLERK'S NOTE: DEFERRED FROM MEETING OF 12/08/98) The Board reviewed a Memorandum of December 2, 1998: TO: James E. Chandler County Administrator DIY410N HEAD CONCURRENCE _'10 "Ab M. g, AI Community Developm t D THROUGH: Sasan Rabaul, AICD S 44? . Chief, Long -Range Planning 0 FROM: Peter J. Radke -- Economic Development Planner DATE: December 2,1998 RE: APPROVAL OF THE OVERALL ECONOMIC DEVELOPMENT PLAN (OEDP) ANNUAL REPORT (1997-98) It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of December 8, 1998. In 1984, Indian River County was contacted by the federal government and informed that, because Of its consistently higher than average unemployment rate, the county was eligible for assistance under the Economic Development Act In order to qualify for this assistance, Indian River County created an Overall Economic Development Plan Committee, prepared an economic development plan, and established a set of strategies for implementing this plan. This Plan was prepared as a cooperative effort of county govemment and citizens in the community for the purpose of promoting economic growth and amicting qualified, desirable types ofbusinesses to the county. The Overall Economic Development Plan (OEDP) was originally adopted by the Board of County Commissioners in Jane of 1985. On July 31, 1985, the Economic Development Administration (EDA) designated Indian River County as a Title IV Redevelopment Area, a designation which qualifies the county to apply for federal fends for economic development projects. Subsequently, representatives from the OEDP Committee along with selected members of the county's Economic Development Committee were chosen to form the Economic Development Council (EDC). Consequently, the Economic Development Council functions as the County's OEDP Committee and, therefore, is responsible for the implementation of the OEDP. On October 28, 1997, the revised Overall Economic Development Plan (OEDP) was reviewed and approved by the county's Economic Development Council. The Board of County Commissioners then approved the revised OEDP at its meeting of November,18, 1997; and a copy of the revised OEDP was forwarded to the Economic Development Administration. Except for the introduction section, the revised OEDP contains the same existing conditions, analysis, and goals, objectives and policies sections as found in the Economic Development Element of the Comprehensive Plan. To maintain its redevelopment area designation, Indian River County has had to prepare an OEDP Affival Report and submit this report to the EDA on an annual basis. An annual report has been completed by the county each year since the 1985 approval of its OEDP. DECEMBER 15, 1998