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Section 1: Introduction Taskforce Charge Process Exglanation <br />Should Lexington's reliance on residential property taxes for town and school services <br />be balanced by more growth in commercial property and businesses? what kind of <br />~ commercial growth would work more effectively in Lexington, and how can we integrate <br />that growth into our community and neighborhoods? what economic factors determine <br />the kinds of companies and jobs that will locate in Lexington, and the business success of <br />our town center and other retail areas? How can we remove obstacles to successful <br />commercial, office, or retail growth in town and how can processes be improved? <br />Questions like these lend themselves to public discussion, debate; and consensus building <br />through our Lexington 2020 Vision process. 2020 encourages community involvement <br />and participation in government and 2020 created the Economic Development Taskforce <br />(EDTF) to further our understanding of this area. The 2020 Vision committee created the <br />Taskforce following a Scoping Group that defined the Taskforce charter. <br />Economic Development Taskforce Charge <br />The Economic Development Taskforce charge included: <br />engage the community in education about Lexington's existing businesses and <br />potential for further commercial development, and elicit community opinion on <br />these issues, broadly defined; <br />a conduct a modeling exercise to explicitly examine the tradeoffs associated with <br />various commercial - development choices; <br />examine with the public various regulatory issues affecting prospects for the <br />current business sector in town and for future commercial development, and how <br />Lexington 2020 vision - Economic Development Task Force - August 22, 2008 3 of 19 <br />