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STRATEGIC INITIATIVE V: MANAGE AND EXPAND THE COMMUNITY'S LAND AND <br />BUILDING ASSETS <br />STRATEGIC CHALLENGES: <br />• More than 96% of all RFPs received in the last five years began their search for relocation or expansion in <br />communities that have either existing buildings or shovel -ready sites. <br />• 73% of RFPs received in the last five years had a requirement for existing acreage and more than 40% of <br />prospects that required land needed 50 acres or more. <br />• Over 68% of RFPs expressed a preference or requirement for an existing building, and over 271016 of RFPs <br />received required an existing building in order to consider a location. <br />• Most requests (over 66°0) for an existing building called for 100,000 SF minimum of space. <br />• The PEDC's largest site is 115 acres, and the overall combined inventory is less than 250 acres. in a time <br />where land is becoming scarce, the organization must prioritize land acquisition if we want to remain <br />competitive. <br />• The PEDC neither has nor maintains an inventory of available sites and buildings. <br />STRATEGIC ACTIONS: <br />1. Grow the organization's land inventory to accommodate current needs of existing industry and attraction <br />projects. <br />2. Continue investments and partner with the City on bringing PEDC-owned land to site -ready status. <br />3. Engage a consultant to assist with review and updating the Northwest Industrial Park Covenants and <br />Guidelines approved in 2003. <br />4. Continue to monitor the need for existing buildings and feasibility and desire to build speculative buildings. <br />5. Support City in a plan for Cox Field focused on securing additional funding for capital improvements, site <br />readiness, and aviation focused strategies that target compatible opportunities. <br />6. Communicate and work with the City to identify infrastructure needs and projects that improve business <br />districts in Paris and support future planning. <br />7. Support permitting and development processes that differentiate our community for being business - <br />friendly, efficient, and solution -focused. <br />8. Maintain an attractive appearance of PEDC-owned industrial land through signage and lawn maintenance. <br />9. Establish and maintain inventory of available sites and buildings. <br />8 <br />