Laserfiche WebLink
<br />Since the departure of the Economic Development Coordinator in early March, existing staffhas <br />absorbed much of the work load as well as utilizing consultant Mike Mulrooney for assistance with <br />various EDA projects. It is staff s opinion that this is a key role for the City that has a direct relationship <br />to the economic vitality of the City and our ability to grow tax base. While consultants help to meet the <br />needs for project specific work, having a full-time Economic Development staff member in house is a <br />much more efficient and cost effective way to ensure that the needs of the business community are being <br />addressed and relationships are being maintained. <br /> <br />h. What is the budgetary impact if the position is not filled (e.g., additional <br />overtime/compensatory time off costs) <br /> <br />The budgetary impact of not replacing this position is the potential loss of tax base or the inability to <br />increase tax base due to lack of position to shepherd and encourage expansion and retention and new <br />businesses in the community. In addition, it is staffs opinion that there is a high risk of burn out of <br />existing staff due to the work load being spread too thin to be effective. <br /> <br />i. What are the circumstances that warrant the creation of this new position? <br />This would not be a new position, but rather a replacement of an existing position that is funded solely <br />by the EDA levy. <br /> <br />3. What is the total annual cost of the position (e.g., salary, taxes, benefits, equipment, etc.)? <br /> <br />If the hiring range is set at a maximum of$72,343, the maximum cost for wages and benefits would be <br />$94,340. Training and equipment would be paid for with EDA or TIF funds. <br /> <br />5 <br />