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<br />EDA BUSINESS <br /> <br />Case #1 NATIONAL DEVELOPMENT COUNCIL TRAINING <br /> <br />Economic Development Coordinator Sullivan presented Case #1. <br /> <br />The National Development Council (NDC) has a certification program for an Economic <br />Development Finance Professional. This training and certification helps build staff expertise in <br />economic development, including economic development finance, business credit analysis, real <br />estate finance and the art of deal structuring. This program consists of four, five day classes. <br />The tuition for each course is $1,150.00 this amount does not included lodging and travel. The <br />estimated cost per class would be $1900.00 to $2300.00. Economic Development Coordinator <br />Sullivan is a member of the Economic Development Association Minnesota (EDAM). He stated <br />that this is a rigorous program that carries a certification that has value in the <br />development/banking field. With the City entering into the commercial market and the <br />acquisition of the Ramsey Town Center it is important to keep current with the necessary skills <br />and to expand our knowledge. <br /> <br />Economic Development Coordinator Sullivan is requesting that he and Deputy City <br />Administrator Nelson both sign up for two classes (ED 101 and ED202) in the fall of2009. <br />Economic Development Consultant, Mike Mulrooney' serves on the EDAM board. Mr. <br />Mulrooney informed the members that The EDAM has scholarships available for these types of <br />classes. This could help absorb some of the cost of this certification program. <br /> <br />Deputy City Administrator/Community Development Director Nelson stated that $4000.00 <br />would be allocated from the administration training fund. The amount needed from the EDA <br />training budget has not yet been determined. The estimated amount would be about $ 4000.00. <br />After discussion it was noted that EDA training budget would have adequate funding for this <br />request. <br /> <br />Economic Development Coordinator Sullivan was told that the costs would stay the same next <br />year. They will be looking into getting a better rate with the hotels in the area. This could lower <br />the costs for next year. <br /> <br />Deputy Administrator/Community Development Director Nelson stated that this training has <br />been something that she has been planning to do for a long time. This certification program will <br />carry some weight, and will have tremendous value in the economic development process. <br />Deputy Administrator Nelson has contacted NDC to see if other companies in the five state area <br />would be holding any of these classes and there are no classes in the area. <br /> <br />Motion by Member Letourneau, seconded by Member Skaff , to authorize registration for <br />Economic Development Coordinator Sullivan and Deputy City Administrator/Director of <br />Community Development Nelson to attend the NDC Economic Development Finance <br />Professional program(two classes), and to fund the associated travel and lodging.' <br />This would be for one year and would be reviewed again next year. <br /> <br />Economic Development Authority/July 9th 2009 <br />Page 2 of7 <br />