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City of Centerville <br />EDA Meeting Minutes <br />June 18, 2024 <br />as learning more about other financial incentives, such as bonds, etc. Discussion also ensued about <br />the benefit(s) of having an EDA, such as owning and selling real estate, providing incentives, etc. <br />There was also discussion about earmarking $10,000 in the Opportunity fund for Revolving Loan <br />and Grant Façade program. Discussion ensued about further defining the use of opportunity fund <br />dollars and adding $7,500 carryover balance from 2024. <br />Revisions to the budget consist of: <br /> The added $1,500 to professional services <br /> Moving the $10,000 for the HRA (loan and grant program) to be earmarked as part of the <br />Opportunity Fund <br /> Total Opportunity Fund of $15,000 (with $10,000 earmarked). <br /> Including $7,500 carryover balance from 2024 <br /> <br />Motion by Commissioner Smith and seconded by Commissioner Swenson to recommend to <br />council approval of the revised 2025 budget. All in favor. Motion carried. <br />IX. NEW BUSINESS <br />1. None <br />X. ADJOURNMENT <br />Motion by Commissioner Swenson, seconded by Commissioner Smith to adjourn the June <br />18, 2024, Economic Development Authority meeting at 6:53 p.m. All in favor. Motion <br />carried. <br />Ќ <br /> <br />