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Economic Development Authority (EDA) <br />Meeting Date: 06/04/2015 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />4. 3. <br />Title: <br />Consider Recommending the City Council Authorize the City's Economic Development Manager to Complete the <br />NDC EDFP Certification <br />Purpose/Background: <br />PURPOSE: <br />Consider recommending the City Council authorize the City's Economic Development Manager to complete the <br />National Development Council's (NDC) Economic Development Finance Professional (EDFP) Certification <br />program in 2016. <br />BACKGROUND: <br />Please see attached. <br />Notification: <br />NA <br />Observations/Alternatives: <br />The City of Ramsey has an uniquely large inventory of City owned land available for sale and development. <br />Additionally, the City has a wide array of opportunities for commercial, retail and residential development over the <br />next ten years. Lastly, over the past few years, the Ramsey City Council has emphasized the importance of <br />economic development and selling City owned land for our community. With the above in mind, the City <br />anticipates to review a high volume of purchase agreements and business subsidy requests over the coming years. <br />The City's Economic Development Manager is responsible for managing the review/ negotiation of purchase <br />agreements and business subsidy requests. <br />Staff would like to propose the City's Economic Development Manager complete the National Development <br />Council's (NDC) Economic Development Finance Professional (EDFP) Certification program in 2016. This <br />certification will aid the Economic Development Manager, and indirectly EDA/ City Council, in the review of <br />purchase agreements/ business subsidy requests. <br />This program will provide technical and hands-on training in the areas outlined below. Please see attached course <br />outline for details. <br />- -Economic Development Finance <br />- -Business Credit Analysis <br />- -Real Estate Finance <br />- -The Art of Deal Structuring <br />This program includes four, five-day, courses that will require travel. Attached is budget. This program will require <br />an increase to the EDA levy of $10,440 in 2016. <br />Funding Source: <br />This program will require an increase to the EDA levy of $10,440 in 2016. <br />Recommendation: <br />