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4. EDA BUSINESS <br />4.01: 2015 Proposed EDA Budget & Levy <br />Finance Director Lund presented the 2015 proposed EDA Budget and Levy with the EDA. <br />Finance Director Lund explained the purpose of this case is to develop a recommendation from <br />the EDA to the City Council for the 2015 EDA levy. She noted the City Council has decided to <br />eliminate the HRA so funding from that budget would be disbursed between the EDA and <br />General Budget. She requested the EDA make a recommendation on a proposed levy of <br />$217,609. <br />Member Riley stated at the City Council meeting they discussed utilizing the HRA fund and he <br />thought that would have taken the place of this increase. <br />Finance Director Lund stated it can increase the levy of the General Fund or the EDA Fund. <br />They could either decrease the EDA levy or increase the levy on the General Fund side to offset <br />the HRA funding. <br />Acting Chairperson Skaff asked if there was any preference from a marketing standpoint. <br />Finance Director Lund stated it is up to the EDA to make that decision. She indicated the Board <br />could decrease some funds but in a year or two, the funds will jump back up because they will <br />not have HRA funds to use. <br />Member Williams arrived at 7:34 a.m. <br />Member Riley stated if they are using HRA funds, the increase is really covering what was <br />previously HRA expenses with the understanding that in a year or two, it would have to change <br />because there would not be that funding source. It would show that the City dissolved the HRA <br />levy and it did not move straight over into increasing the EDA levy. <br />Acting Chairperson Skaff indicated he was all right with this. <br />Member Riley stated it would be with the understanding that in three years, they would make the <br />decision about increasing the fund. <br />Motion by Member Brunt, seconded by Member LeTourneau, to recommend to City Council to <br />amend the levy to the percent of what the HRA is funding to the EDA. <br />Motion carried. Voting Yes: Acting Chairperson Skaff, Members Brunt, LeTourneau, and Riley. <br />Voting No: None. Absent: Chairperson Steffen and Commissioner Hardin. <br />Economic Development Authority /August 14, 2014 <br />Page 2 of 6 <br />