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NEW BUSINESS—X <br /> lt <br /> EN HILLS <br /> MEMORANDUM <br /> DATE: January 27, 2013 <br /> TO: Honorable Mayor and City Councilineinbers <br /> FROM: Patrick Klaers, City Administrator <br /> SUBJECT: EDA 2014-15 Work Plan <br /> Background/Discussion <br /> At the January 28, 2013, Economic Development Authority (EDA) meeting, the EDA approved <br /> their 2013-14 work plan. Attached is this work plan — it is included as part of my January 284' <br /> agenda memo to the EDA. At this January 28, 2013 EDA meeting, review of the Carroll's <br /> building and site was added to the work plan. <br /> Overall, the EDA did a good job in making progress on the 201.3-14 work plan. The EDA held <br /> their four quarterly meetings and had two special meeting in 2013 (one on the Business Subsidy <br /> policy and one on the Revolving Loan program). The only work plan item that did not get much <br /> attention last year was a review of TIF #3. <br /> At this January 27, 2014 meeting, I need to get the EDA's input on what they would like to see <br /> in the 2014-15 work plans. I will then present the work plan for consideration and approval at the <br /> April EDA meeting. <br /> Possible topics/issues for the EDA to consider for their 2014-15 work plan include the following: <br /> ❑ Round Lake Road improvemeKpro —This is really a City Council project but it is <br /> related to economic development as it impacts local businesses.Also,the EDA approved <br /> using TIF#2 funds to help finance this project (about $160,000). <br /> LJ Revolving Loan proms—the EDC will be reviewing the I oan program and the EDA's <br /> comments from their August 2013 special meeting and will offer the EDA some feedback <br /> on the program. The EDA should plan to update the Loan Guidelines in 2014. Any <br /> update needs to be reviewed by DEED. The Guidelines have not been updated since they <br /> were approved in 1997. <br /> Page 1 of 2 <br />