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REDA Meeting Minutes — Monday, June 21, 2016 Page 7 staff funding, even though it is an unknown at this point. In terms of the 2017 levy, President Roe opined that it may not be as robust of a levy until the REDA is able to determine where it's at further down the road. Member Laliberte concurred with the need to start with process and policies in place. While it all looks good, Member Laliberte noted the need to walk before being able to run. Member Etten concurred with his colleagues as well, while looking forward a few months to the 2017 levy and addressing one-time things accordingly in the budget, but also making sure the 2017 levy allows sufficient funding to deal with some things (e.g. redevelopment or acquisition) rather than having to be reactionary. Member Etten stressed the importance of making sure the REDA is prepared to start funding some initiatives going forward. Member McGehee concurred with Member Etten; opining at a minimum the REDA should have $300,000 to technically cover the first $165,000 needed in 2016; but theoretically not depleting existing resources; and allowing $108,000 or more to work with; but no less than $300,000 as a minimum. As stated by Member Etten, President Roe agreed with the need to not deplete funds for acquisition. While focusing on SE Roseville, President Roe noted there was much less focus in the Twin Lakes Redevelopment Area; while the REDA may need to face the realities of land cost differentials. President Roe agreed with the points made by his colleagues in terms of a levy, allowing sufficient ongoing operational costs as well as if acquisition or development opportunities come forward before 2016 year-end that may necessitate more funds being needed. Member McGehee opined that if a unique opportunity came up and that the REDA didn't have sufficient funds for acquisition, there were options under certain circumstances for bonding, depending on the use of those bond funds and bonding authority of the RHRA and/or REDA. Member McGehee asked EDA Attorney Martha Ingram to provide a sheet on what is or is not appropriate for REDA bonding. President Roe advised that this information had already been provided by Ms. Ingram's office to the REDA. Ms. Ingram agreed, referencing memoranda prepared that clearly identified the powers of the REDA and RHRA, including bonding authority. As noted by President Roe, Ms. Ingram confirmed that the REDA could also borrow funds from the City's General Fund rather than levying specifically for it. President Roe noted the City's ability to use its Port Authority as another option; but noted the need to have policies in place before doing so.