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lt <br /> -i` iN HILLS <br /> Approved: January 28, 2013 <br /> CITY OF ARDEN HILLS, MINNESOTA <br /> SPECIAL ECONOMIC DEVELOPMENT AUTHORITY MEETING <br /> NOVEMBER 26,2012 <br /> 6:00 PM—CITY COUNCIL CHAMBERS <br /> CALL TO ORDER/ROLL CALL <br /> Pursuant to due call and notice thereof, President Grant called to order the Special <br /> Economic Development Authority meeting at 6:05 p.m. <br /> Present: EDA President David Grant; EDA Commissioners Brenda Holden, Fran <br /> Holmes,Nick Tamble, and Ed Werner <br /> Absent: None <br /> Also present: City Administrator Patrick Klaers; Director of Finance and Administrative <br /> Services Sue Iverson; and Community Development Director Jill Hutmacher <br /> 1. APPROVAL OF AGENDA <br /> MOTION: EDA Member Holden moved and EDA President Grant seconded a motion <br /> to approve the meeting agenda as presented. The motion carried <br /> unanimously (5-0). <br /> 2. NEW BUSINESS <br /> A. 2013 Proposed EDA Final Budgets <br /> City Administrator Klaers stated that in 2008, due to a negative fund balance, the decision was <br /> made to move EDA expenditures from the EDA Fund to the General Fund; but that in 2012, the <br /> EDA expenditures were moved from the General Fund back to the EDA Fund because the EDA <br /> fund balance had improved. The EDA General Fund is used for expenses such as staff time and <br /> overhead related to economic development activities; and in the past, revenue for this operation <br /> has come from a variety of sources such as excess revenue from TIF Districts, the PIR Fund <br /> transfer in 2012, and conduit debt revenue in 2012. In the short-term, the budget is in good <br /> condition, but staff has some concerns looking forward since funding sources from the TIF <br />