In 2005, the Town of Longboat Key began the visioning process, initiated citizen involvement, and created a subcommittee comprised of members of the Planning and Zoning Board and the Town Commission. The developed plan was presented to the Town Commission in 2007. In 2008, the international economy was hobbled as credit markets seized. The United States economy was formally in economic recession. The residential and commercial real estate markets, small and large businesses, and governments on the local and state levels were negatively impacted by the precarious financial conditions in the United States and abroad. In 2010, despite an economic stimulus program commenced by the federal government, the international economy is still troubled and the negative impacts on real estate and business continue. It is in this environment that a revisiting of the vision plan submitted to the Town in 2007 has taken place.