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ARDEN HILLS EDA MEETING—JULY 29, 2013 3 <br /> Secretary Klaers recommended that the fiinds not be placed in the General Fund, but rather the <br /> PIR Fund. <br /> MOTION: EDA Commissioner Holden moved and President Grant seconded a motion <br /> to approve a budget amendment and the transfer of non-tax increment funds <br /> from the TIF District 2 in the amount of$1,027,984 to be placed in the PIR <br /> Fund. The motion carried unanimously (5-0). <br /> MOTION: EDA Commissioner Holden moved and EDA Commissioner Holmes <br /> seconded a motion to approve the remaining TIF District 2 funds be slated <br /> for the Round Lake Road improvement project. The motion carried <br /> unanimously _- . <br /> B. 2014 EDA Budgets <br /> Secretary Klaers reviewed the preliminary 2014 budget in detail with the EDA. The five EDA <br /> Rmds were discussed, along with estimated staffing expenses for the corning year. He indicated <br /> that in 2015, the EDA could run out of money to finance expenses; therefore, the EDA needs to <br /> find a reliable, reoccurring source of revenue to finance staff time and operating expenses. A <br /> transfer from the General Fund can be made, or a separate EDA levy could be considered. <br /> Treasurer Iverson explained that the TIF 2 Round Lake District has been ftmding the EDA <br /> expenses for a number of years, but this district will decertify in 2015. She fiu-ther discussed the <br /> staff expenses for the EDA. <br /> EDA Commissioner Holden asked who provided personnel services to the EDA. <br /> Secretary Klaers stated that these services were provided by Treasurer Iverson, Executive <br /> Director Hutmacher, and himself. <br /> Further discussion ensued regarding the EDA's goals and objectives, along with the history of <br /> the EDA. <br /> EDA Commissioner Holmes was in favor of considering an EDA levy in the future. <br /> President Grant stated that this could be considered; but would need a great deal of discussion. <br /> Secretary Klaers indicated that the EDA levy could be discussed fuuther at a future meeting. He <br /> noted that there is a levy limit of 3% on the City General Fund for 2014. An EDA tax levy is <br /> based on a percentage of the market value. The maxununi EDA levy in 2014 would be <br /> approximately$187,700. <br /> EDA Commissioner Holden cautioned the EDA from further raising fees and taxes on the <br /> Arden Hills residents. <br />