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ADOPT 1995 ECONOMIC DEVELOPMENT AUTHORITY <br /> By: Jessie L. Hart, Finance Officer <br /> <br />CASE <br /> <br />OPERATING BUDGET <br /> <br /> Background: <br /> <br />Attached for yoBr review and consideration is the 1995 Proposed Economic Development <br />Authority Budge~. This is the second year a formal budget will be used for economic development <br />activities financed by the EDA. <br /> <br />The financing so~arces for these operations include transfers from the tax increment districts and <br />interest earnings.~Additional revenues from land sales could be recognized in 1995, but due to the <br />speculative nature, are not budgeted for. <br />This budget incltl}d~ es expenditures for salary costs of various levels of city staff, costs associated <br />with the Economie Development Commission (these costs had formally been shown in the General <br />Fund) and allowa~nces for economic development programs including participation at the annual <br />Game Fair, business expo and entry signs into the City. <br /> <br />This budget has l~een revised somewhat from its initial presentation to Council. The revisions <br />included refinement of certain revenues and the elimination of the lease payment to the City's <br />General Fund for ~he rental of the metal Public Works building. <br /> <br />Staff_ Recomme~ndation: <br /> <br />Approve attached iResolution -g'94-12-XXX Adopting the 1995 Economic Development Authority <br />Operating Budget~ <br /> <br />Council Actioni <br /> <br />Motion to approv~Resolution//:94-12-XXX Adopting the 1995 Economic Development Authority <br />Operating Budget., <br /> / <br /> <br />Review CheckffSt: <br /> <br />City Administrator <br />Finance Officer <br /> <br />Copies Distributed to: <br /> <br />Economic Development Coordinator <br /> <br />CC 12/13/94 <br /> <br /> <br />