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Ms. Lund elaborated on that stating that we cannot raise it but we do not have actual numbers on <br />property values, etc. <br />Member Williams questioned if the EDA will have a discussion about its budget. <br />Finance Director Lund responded yes, and reiterated that the final budget will be adopted in <br />December; therefore, budget discussions will take place prior to then. You can increase your <br />budget if you have another revenue source. <br />City Administrator Ulrich reported that by the next EDA meeting, we will know City Council's <br />action on the levy. <br />Councilmember Elvig asked about the EDA's goals and suggested that perhaps that would be the <br />next objective — determining what will be done with the funds. <br />5. MEMBER / STAFF INPUT <br />City Administrator Ulrich stated that the City Council and the HRA have had some discussion <br />about the County HRA levy and how that could potentially be used to reduce our overall levy. <br />There is $236,000 possibly available to us for HRA projects. At this time, the City Council is <br />saying we would like to look at it and see how it might impact the HRA levy. We will work <br />through that discussion. There are additional monies out there generated through the County's <br />HRA. <br />Chairperson Riley noted that the tax capacity is not really the overall tax. <br />Mr. Ulrich replied it's a percentage of what the individual property owner would pay. <br />Chairperson Riley suggested that if we increase one and decrease another, there is no tax <br />increase but the tax capacity could go up. <br />Mr. Ulrich responded yes — it's a shifting of dollars but the taxes stay the same. <br />Member Wise stated that a lot of people look at that number and it really is a shell game but <br />when businesses look to locate in an area, that's what they look at. It is good public relations to <br />keep that low.' <br />6. ADJOURNMENT <br />Motion by Member LeTourneau, seconded by Member Williams, to adjourn the meeting. <br />Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Williams, McGlone, <br />Skaff, Steffen and Wise. Voting No: None. Absent: None. <br />The regular meeting of the Economic Development Authority adjourned at 8:10 a.m. <br />Economic Development Authority /September 6, 2012 <br />Page 5 of 6 <br />