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EDA GENERAL Function: Economic Development Supervisor: Community Development Director Fund#: 250 Activity#: 47300 Activity Scope This Special Revenue Fund accounts for general administration activities that are not specific to any individual Tax Increment Financing(TIF)District, as well as activities associated with the Economic Development Commission and Economic Development Authority. Objectives 1. Research the City revolving loan program,restrictions, guidelines, and possible future uses. 2. Consider the use of TIF District 2 funds for Round Lake Road and sanitary sewer improvements. 3. Consider the use of TIF District 3 funds for low to moderate housing needs. 4. Review operating budget and identify a sustainable funding source. 5. Consider establishing a business retention program. Is- 1. Consistent administration of the City's policies,plan, ordinances, guidelines, statutes, etc. 2. Promotion of industrial property available. Measurable workload Data None developed at this time. Budget Commentary The revenue to this fluid has been primarily excess increment and interest income in the past years with transfers from the General Fund from 2008 -2011. A transfer was made in 2012 and 2013 for the Conduit Debt revenue received in 2011 and 2012 from the Presbyterian Homes project. The tax increment excess has risen substantially over the past three years, but a tax petition has caused this to decrease recently and the total effect is not known. This funding source will go away after 2015. In 2008,the salary and benefit costs for this activity were transferred to the General Fund in the Planning Department. At that time, there was a negative fund balance and a transfer from the General Fund was set up to correct the negative balance and fluid Gateway signs, 2012 and 2014 have budgeted transfers from the -2-