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