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McComb Group and allowances for economic development programs including participation in <br />the business expo, annual business appreciation day and entry signs into the City. Also presented <br />to the Commission was a resolution amending the 2002 activity based on actual activity. <br /> <br />Councihnember Elvig inquired if a market survey would typically come out of a fund such as <br />this. <br /> <br />City Administrator Norman replied that the market analysis that was completed using EDA funds <br />was done so at the Council's discretion. <br /> <br />Councihnember Elvig inquired as to how EDA gets funded. <br /> <br />City Administrator Norman explained that in the past they were able to transfer interest earnings <br />from TIF, but starting this year the EDA requested a partial levy around $74,000 to pay back the <br />purchase of the Alloy Recovery property. <br /> <br />Finance Officer Lund noted that other revenue sources would be from the City selling City <br />owned property and making a profit. <br /> <br />Councihnember Kurak inquired as to what the City is anticipating Consultant Mike Mulrooney to <br />do in 2003, that $81,000 is being budgeted for. <br /> <br />City Administrator Norman replied that the City has a contract with Mr. Mulrooney that is on- <br />going unless the Council directs otherwise. <br /> <br />Councihnember Kurak inquired as to what the miscellaneous consulting services were in 2002 in <br />the alnount of $28,760. <br /> <br />City Administrator Norman replied that he believed that that was for the frontage road study <br />completed by HKGi. <br /> <br />Councihnember Kurak inquired as to when that expenditure was approved. <br /> <br />City Administrator Norman replied that he would have to research that information. He noted <br />that at this time the Council would be approving the budget, not any specific projects. <br /> <br />Motion by Councilmember Kurak, seconded by Councilmember Elvig, to recommend that the <br />City Council adopt the Resolution adopting the 2003 Economic Development Authority <br />Operating Budget, and recommend that the City Council adopt the Resolution amending the <br />2002 Economic Development Authority Operating Budget. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Kurak, Elvig, Pearson, <br />Strommen, and Zimmerman. Voting No: None. <br /> <br />Finance Committee/January 28, 2003 <br /> Page 4 of 5 <br /> <br /> <br />