EDA Budget Discussion

As part of the 2013 budgeting process, Staff would like to review the proposed 2013 EDA budget and allow for commissioner feedback.

Attached to this case is the proposed 2013 EDA budget.  Staff would like to note a number of items.  First, the EDA may consider making a recommendation between hiring an economic development staff position or contracting economic development services.  each alternative has different budget implications as noted in the attached budget.

Listed at the bottom of the budget worksheet is the total EDA reserves along with two potential project costs.  The EDA may consider utilizing additional reserves for one-time expenditures that may be in the budget.

Note, the total expenditures budget listed ($71,380) does not include either hiring an economic development staff position or economic development consultant.  If an economic development staff position is considered, it will be staff's recommendation that the position be funded both from the EDA and HRA fund; which would reduce the impact on the EDA budget.  The HRA levy is separate from the EDA, and the EDA levy is included in the City's Tax Capacity Rate, while the HRA levy is not.

EDA Levy.

Discuss provisions of a budget recommendation to be brought forward to the City Council.

Discuss provisions os a budget recommendation to be brought forward to the City Council,  and bring back budget for EDA approval at the July meeting.