Agenda - Economic Development Authority - 08/04/2016

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Economic Development Authority(EDA) 4.3. Meeting Date: 08/04/2016 Submitted For: Patrick Brama,Administrative Services By: Patrick Brama,Administrative Services Title: 2017 EDA Budget Purpose/Background: Annually,the EDA makes a recommendation to the City Council for the coming year's EDA budget and levy. The EDA levy is included within the City's general levy and calculates into the city's overall tax capacity rate. The City Council will be considering the City's preliminary levy in September. All budgets and levies are preliminary and will not become finalized until December 2016. The purpose of this case is to develop a recommendation from the EDA board to the City Council for the 2017 EDA levy. Notification: NA Observations/Alternatives: STAFF NOTES Generally, staff is proposing an increase to the EDA budget from 2016 to 2017 (about$30,000). Said increase comes from three areas: (1)general inflationary adjustments, (2)increased costs of events, and undertaking of new events,and(3)increased marketing budget. (2)Events Account, 9230.6249. Staff did an audit of Ramsey EDA event budgets, and realized an adjustment needed to be made to account for increased costs for each event(which have taken place slowly over several years). Additionally,the EDA now supports various new events: The Draw Summer Event Series, the Anoka County Broker Event, the State of MN Marketing Partnership, and the Anoka Tech Job Fair. For all of these reasons, staff is adjusting the event line item(6249)up from$13,000 to$18,000. (3)Marketing Account, 9230.6246. This item is detailed in the previous case.Please see 2017 EDA Workplan proposal, and change log. In summary, staff is requesting for an increase to the Marketing budget to allow for latitude when selecting a method to achieve the EDA/Council goal of recruiting restaurant,retail, and shopping developments in Ramsey. Outside of the expenditure increases outlined above, staff was able to cut costs in various areas of the EDA budget as well(about$7,000). SIDEBAR: Staff would also like to note,the City's Administrative Budget 0130 (not EDA budget 9230)does include a request for 20-hour per week position($24,312). The purpose of the position is to provide general support to the Assistant City Administrator/Economic Development Manager. Because said position is not a part of the EDA budget, it is not reflected in this case. However, said 20-hour per week position will have a direct impact on the EDA. Below are the general areas the part-time position serve. •Manage administrative side of EDA meetings(scheduling,publishing agendas, tracking minutes,reminder emails, general support). •Manage EDA website and website content(including making sure we have current property listings, and canvassing community). •Manage administrative side of BR&E program(scheduling, follow up correspondence, trouble shoot easy