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UNFINISHED BUSINESS 5C <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: April 29, 2013 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> <br />FROM: Patrick Klaers, City Administrator <br /> <br />SUBJECT: EDA General Fund Budget Discussion <br /> <br /> <br /> <br />Background/Discussion <br /> <br />I am not sure how much time will be available at this April meeting for a discussion on the EDA <br />General Fund budget, but I want to continue the conversation from November 26, 2012 on the <br />operating revenues and expenditures for the EDA especially as we look to 2014 and beyond. <br /> <br />The Economic Development Authority (EDA) approved the 2013 EDA budgets on November <br />26, 2012. At this meeting there was a good discussion on all of the EDA budgets. These EDA <br />budgets are: <br /> <br /> EDA General Fund <br /> EDA Revolving Loan Fund <br /> EDA TIF District #2 Round Lake <br />EDA TIF District #3 Cottage Villas <br />EDA TIF District #4 Presbyterian Homes <br /> <br />Regarding the EDA budgets (excluding the General Fund budget) please note that: <br /> <br />there no longer is an EDA TIF District #1 as this project has been completed and the <br />District has been decertified (was for a Round Lake redevelopment project). <br /> <br />th <br />the Revolving Loan program is on this April 29 EDA agenda for discussion. <br /> <br />the Round Lake TIF District #2 will get reviewed during the July EDA meeting as the <br />City Council will be evaluating options for a Round Lake Road street and utility <br />improvement project this Summer (for a possible construction in 2014). <br /> <br />the Cottage Villas TIF District #3 to be reviewed in October, 2013 <br /> <br />12 <br />Page of <br /> <br />