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Economic Development Authority (EDA) 5. 3. Meeting Date: 03/03/2016 Submitted For: Patrick Brama, By: Nichole Wenberg, Administrative Services Title: 2016 Annual EDA Business Expo Purpose/Background: Annually, the Ramsey EDA sponsors a Business Expo. The purpose of this event is to promote Ramsey's businesses (typically retail and service industries) to the community. Normally, this event draws 200-300 participants and 45-50 business exhibitors. Planning for this event has begun. Purpose of Case: Update the EDA on coordination efforts. Notification: NA Observations/Alternatives: Below is a status update on a number of items related to this event: • Venue: The Fountains of Ramsey ($700) • Equipment Rentals: tables, chairs, drapes ($1,000) • Event Flyer & Registration: Created, see attached • Registrations due Friday, April 1: Ramsey Business= $50, Non -Ramsey Business= $65, Electricity fee= $5 • Preference will be given to Ramsey area retail, service, restaurant, and other industries. Craft/Merchant vendors and Non -Ramsey businesses will be placed on a waiting list and will be notified if their application was accepted by Tuesday, April 5. • Giveaway: City of Ramsey insulated tote bags, qty 500, ($1,520) estimated • Marketing: • Mailers, 9,600 qty, 2 weeks before event . Color, Half Page (print + postage= $3,000) estimated, see proposed artwork attached. • Mobile Sign Boards, Five ($775) • Color Full Page flyer, qty 750 and Sandwich Board Posters ($200) estimated • Anoka County Shopper ad space ($100) estimated • Anoka County Union article (free) • Ramsey Resident, Facebook, City's website (free) The EDA allocation budgeted for this event is $4,000. Considering items above, expenditures will be $7,295. Staff estimates revenues will be about $2,400 (based on 2015 revenue). The difference between estimated costs and revenues would be -$895. The additional purchase of the tote bag giveaways is an increase in expenditures from previous years, which was not included when the 2016 EDA budget was originally adopted. However, room exists within the EDA's overall event budget (Miscellaneous Operating Supply) to account for this change. Staff will update the EDA budget request for 2017 accordingly. Funding Source: See observations section. Recommendation: