Council to Consider Updating City's Economic Plan

Major economic changes, such as the closure of the city's Redevelopment Agency, have spurred a proposal for a new economic development strategy for Lake Forest.

The possibility of drafting updated economic guidelines for the city will be discussed Tuesday at the regular meeting of the City Council.

Currently, Lake Forest operates under an economic plan originally drafted in 1995.

As the city had incorporated only four years prior, the plan "contains goals and objectives appropriate to the newly-formed city," according to a staff report.

"Significant changes have occurred in the City since the original Strategy was approved," the report states. "Staff believes an updated strategy would reinforce the City’s commitment to facilitating business growth and expansion and provide the City with the tools to respond to emerging issues in the local economy."

The  is one such major change to the city's development plans.

A new plan would "incorporate short-term and long-term economic development objectives that would facilitate business growth and expansion and address existing and future economic development needs," according to the report.

The meeting begins 7 p.m. Tuesday in City Hall at 25550 Commercentre Drive.