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It <br /> �-AN HILLS <br /> CITY OF ARDEN HILLS,MINNESOTA <br /> ECONOMIC DEVELOPMENT AUTHORITY (EDA) MEETING <br /> DECEMBER 5,2011 <br /> 7:30 P.M. - ARDEN HILLS CITY COUNCIL CHAMBERS <br /> CALL TO ORDER/ROLL CALL <br /> Pursuant to due call and notice thereof, President David Grant called to order the EDA <br /> Meeting at 8:26 p.m. <br /> Present: President David Grant and Commissioners Brenda Holden, Fran Holmes, <br /> Nick Tamble, and Ed Werner. <br /> Absent: None <br /> Also present were City Administrator Patrick Klaers; Director of Finance and <br /> Administrative Services Sue Iverson; Community Development Director Jill Hutmacher; <br /> and Deputy Clerk Rebecca Brazys. <br /> 1. APPROVAL OF AGENDA <br /> MOTION: Commissioner Tamble moved and Commissioner Holden seconded the <br /> motion to approve the agenda as presented. Motion carried unanimously (5- <br /> 2. NEW BUSINESS <br /> A. Approval of EDA Budget <br /> Director of Finance and Administrative Services Iverson reviewed the proposed 2012 budget <br /> for the EDA with total revenues of$651,750, total expenditures of$421,395 and an estimated <br /> fund balance at the end of December 31, 2011, of$2,018,040. The EDA totals include the EDA <br /> General Fund, the EDA TIF District 3 Cottage Villas Fund, the EDA Revolving Fund, and the <br /> EDA TIF District 2 Round Lake Fund. The EDA General Fund will need to use reserves to <br /> balance planned expenditures with available revenues. This fund includes staff time for <br /> operating activities and expenses for the Gateway signs. <br /> City Administrator Klaers commented that the EDA has not met since 2004 and there are <br /> issues that need to be discussed. He suggested that the EDA bylaws be reviewed to make sure <br /> they are consistent with current state law. There should be an EDA meeting held in January, a <br /> regular meeting schedule should be established, and a work plan created. He added that tonight's <br />