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Mr. Sullivan replied he did not have that information. He added the EDA would not have any <br />money in approximately 1½ years. <br /> <br />Discussion contirmed regarding the EDA's access to funding, in addition to the obligations of the <br />EDA. <br /> <br />There was discussion regarding Council's reaction to receiving the request for the entire <br />$200,078 levy. <br /> <br />Member Kurak slated she was reluctant to send the entire levy before Council. <br /> <br />Mr. Sullivan reslmnded he felt it would be accepted. He added the amount could be lessened if <br />necessary but the amount could not be raised. <br /> <br />Member Kiefer noted, of all the taxes paid by citizens, this one had a return on the investment. <br />Motion by Member Kiefer to approve the one-year maximum levy for the current year. <br />Further Discussion: <br /> <br />Discussion followed regarding the amount passed by Council the previous year. <br /> <br />Member Kiefer remembered the amount was $65,000 or $66,000, which was approximately 60% <br />of what could have been levied. <br /> <br />Member Gromberg suggested the EDA review the budget at its next meeting. <br /> <br />Chairperson Riley asked if the EDA was interested in setting its own budget. <br /> <br />Member Grombe~g responded it would be good to have a plan regarding the spending of the <br />levy. <br /> <br />Member Kiefer noted the money that was already earmarked for spending. <br /> <br />Motion died for lack of a second. <br /> <br />Mr. Sullivan wanted the EDA would "miss the boat" if they did not bring this issue to the next <br />Council meeting. <br /> <br />Member Kiefer suggested a motion be made to submit the levy contingent on presenting a plan <br />regarding the use of the funds. <br /> <br />Member Gromberg responded a contingent would not be acceptable; however, a number was <br />needed. <br /> <br />Economic Development Authority / September 8, 2003 <br /> Page 7 of 11 <br /> <br />10 <br /> <br /> <br />