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Further discussion: City Administrator Ulrich questioned if it is the intent of the EDA to shift <br />staff or raise additional levy for the EDA. Member LeTourneau clarified to have additional <br />money for the EDA to use — not a staffing deal. Chairperson Riley stated we have already given <br />the direction that we need staff - that has not changed. For this to be effective, we need an <br />economic development person — not 10 percent of other staff time. Member Steffen commented <br />that the EDA share would remain at 20 percent — so we would have a surplus going into our <br />reserve. Member LeTourneau replied yes. Finance Director Lund stated she can put it under a <br />capital line item so it balances out. Chairperson Riley stated that if we have land opportunities, <br />we need to have money for that. Member LeTourneau noted we are not very specific right now <br />but there are opportunities out there. Member McGlone stated that part of the City <br />Councilmember function is to bridge the gap between this body and the City Council. Looking <br />at the information passed out at the meeting, the City Council still has to deal with reductions <br />and revenues and take on all functions of the City as well. It's very difficult to do. All our <br />decisions will never make everyone happy. We try very hard to keep the money toward EDA <br />efforts. You made a comment about not having anything targeted. We do. We are developing <br />what will be more than a million dollar asset out our front door. Is it adequately funded to bring <br />in business? We struggle with balancing that. We need to make sure we do not lose track with <br />where we are and what we have going. Member McGlone continued that with regard to timing <br />of this meeting — that's staff's call. He just wants to overall say to the EDA we are under <br />pressure to keep everything going and be absorbing year after year in this property valuation <br />declining time. <br />Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Williams, McGlone, <br />Skaff and Steffen. Voting No: Member Wise. <br />Chairperson Riley inquired if the EDA will get a budget proposal to talk about. He realized this <br />is just the levy being talked about today but the two do go hand in hand. He inquired if there will <br />be a finalized budget shortly. <br />Finance Director Lund stated the budget is adopted in December. We set the levy and then hold <br />different sessions prior to December to work on the budget for final levy and final budget. The <br />line items have not changed and that pretty much follows the budget. There is a little over <br />$600,000 in the EDA account plus the revolving fund and the sale of the Nordvik property. <br />Chairperson Riley clarified that the EDA will have another look at the budget to which Ms. Lund <br />replied yes. <br />City Administrator Ulrich summarized that the City Council sets the preliminary levy next <br />Tuesday and the final numbers cannot go above that. <br />Member McGlone added that the Council sets the levy and then we decide about reducing it. We <br />set the levy higher than it normally ends up being because we cannot raise it — we can only lower <br />it. <br />Economic Development Authority /September 6, 2012 <br />Page 4 of 6 <br />