Laserfiche WebLink
<br />Case # 1 <br /> <br />NATIONAL DEVELOPMENT COUNCIL (NDC) TRAINING <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />The National Development Council (NDC) has a certification program for an Economic Development Finance <br />Professional. This training and certification helps build staff expertise in economic development, including economic <br />developmentfmance, business credit analysis, real estate finance and the art of deal structuring. The program consists of <br />four, five day courses: ED 101, ED 201, ED 202, and ED 300, at different locations throughout the country. Each course <br />has tuition of $1,150, which does not include travel and lodging expenses which will vary from location to location. <br />Attached is a copy of the NDC certification program and the applicable classes for the Economic Development <br />Certification program. <br /> <br />Observations: <br /> <br />The entrance of the City ipto the commercial market and the acquisition of a portion of Ramsey Town Center are exciting <br />opportunities that need to be embraced. It is important to keep current with the skills necessary, and to expand <br />knowledge, to get deals done. This certification is a rigorous program that carries with it a certification that has value in <br />the developmentlbanking field. Staff is looking for. consideration by the EDA to finance this training for the Economic <br />Development Coordinator and/or the Deputy City AdministratorlDirector of Community Development for the period of <br />two years. At this point this expenditure has not been identified within the EDA training budget but there is adequate <br />funding in the EDA fund to finance this request. Staff estimates that the total cost for each class will range from $1900- <br />$2300. The Economic Development Coordinator is also a member of the Economic Development Association of <br />Minnesota (EPAM). The Edam Foundation, made up of past presidents of EDAM, has scholarships available for classes <br />of this type. This could also help absorb some of the cost of this certification program. Staff is looking for authorization <br />to register for ED 101 in October 2009 and ED 202 in September or December of 2009 and to complete the Economic <br />Development Finance Professional Certification Program next year. $4000 will be allocated from the Administration <br />training fund to register the Deputy City AdministratorlDirector of Community Development for 2 classes in 2009. <br /> <br />Funding Source:EDA Levy, Administration Training Budget and Potential EDAM Foundation Scholarship <br /> <br />Recommendation: <br /> <br />Staff recommends authorization by the EDA to register the Economic Development Coordinator and/or Deputy City <br />Administrator/Director of Community Development for the NDC Economic Development Finance Professional program <br />and to fund the associated travel and lodging. <br /> <br />EDA Action: <br /> <br />Motion to authorize registration of the Economic Development Coordinator and/or the Deputy City <br />Administrator/Director of Community Development for the NDC Economic Development Finance Professional program <br />and to fund the associated traverarid lodging. <br /> <br />Attachment: <br /> <br />NDC Training Schedule and class description <br /> <br />EDA: 07.09.09 <br /> <br />7 <br />