Laserfiche WebLink
NEW BUSINESS - B <br /> <br />MEMORANDUM <br /> <br />DATE: July 29, 2013 <br /> <br /> <br /> <br />TO:Honorable Mayor and City Council Members <br /> <br /> <br />FROM: Patrick Klaers, City Administrator <br /> <br /> <br />SUBJECT: EDA Budgets for 2014 <br /> <br /> <br /> <br /> <br />Background/Discussion <br /> <br />At the last EDA meeting on April 29, 2013, there was not time to discuss the EDA <br />budgets. The main budget issue I wanted to review with the Council is the need to <br />establish a stable reoccurring funding source for the EDA General Fund. For background <br />th <br />information, attached is the budget material that was in the April 29 packet. <br /> <br />Also attached for your review are the preliminary 2014 EDA budgets. These budgets are: <br />the summary page showing of all the EDA budgets, the EDA General Fund, the <br />Revolving Loan Fund, TIF 2, TIF 3, and TIF 4. <br /> <br />The EDA General Fund budget needs some discussion. Staff is including all economic <br />development related expenses in this budget in order to show a true reflection of the <br />and reserves <br />will not be available to finances these activities without a transfer from the City General <br />Fund budget or the establishment of an EDA tax levy for economic development <br />activities. A separate EDA levy is not needed until at least 2015, but the discussion on <br />this issue should begin soon. <br /> <br />Requested Action <br /> <br />The EDA is requested to approve the preliminary EDA budgets for 2014. (These budgets <br />are not dependent on a tax levy for revenues. These budgets may be revised prior to final <br />approval in November/December.) <br /> <br />Attachments <br /> <br />Attachment A: April 29, 2013, Packet Item <br />Attachment B: Preliminary 2014 EDA Budget <br />