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Councilmembers then commented regarding perceived needs for <br />economic development. Councilmember Young stated that increased <br />venture capital was needed in Santa Ana. He also thought that the <br />Economic Development Corporation Board needed to be reevaluated. <br />Councilmember Johnson expressed a similar opinion with respect to <br />the EDC Board and indicated his willingness to try "anything that doesn't <br />risk the taxpayers money." Councilmember Bricken expressed his opinion <br />that Council move cautiously with respect to the Economic Development <br />Corporation indicating the Board had been a successful "first step" <br />and that perhaps now it was time to broaden its scope. <br /> <br />Councilmember Griset expressed that he felt economic development needed <br />a "blockbuster approach" and should include a network of major busi- <br />nesses in the City. He stated that a need existed to develop focal <br />points and to fully utilize available corporate resources. Council- <br />member Bricken urged that economic development be acknowledged as a <br />reality, and noted that the Chamber, Economic Development Corporation, <br />and the City were "in step" which he felt was a positive indicator. <br /> <br />The City Manager stated that economic development would be approached <br />as if the City were in a depressed economy and that the program would <br />stress business retention interviews, new business start-ups, and a <br />major marketing effort. He cautioned the Council not to expect <br />immediate pay-back. He explained market reconnaissance would include <br />the Council and indicated that when opportunities to market Santa Ana <br />occurred, there would be a need to put a team together on very short <br />notice to promote the marketing effort. <br /> <br />OLYMPIC TORCH RELAY. By informal consent with Councilmember <br />Johnson dissenting, the Councilmembers present agreed to underwrite <br />$1,500.00 of the cost for an Olympic Torch Relay runner for Santa Ana. <br /> <br />At 7:10 p.m., the Council recessed to Executive Session, reconvened at <br />7:24 p.m. with the same members present, and immediately adjourned to <br />9:00 a.m., Saturday, March 17, 1984, in Room 510, City Hall, 20 Civic <br />Center Plaza. <br /> <br />CITY COUNCIL MINUTES 69 MARCH 12~'1984 <br /> <br /> <br />