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10 Hinutes CASE ~2~: <br /> <br /> DISCUSS IEQUEST IvROH ECONOHIC DEVKI, OPI~XIT <br />COI~[HISSION RECARDIIC USE OF 1,AIDFILI, TRUST FUIDS <br />By: Anne Norris, Comnmulty Development Director <br /> <br />Background: <br /> <br />As you kno~, the City has the Landfill Trust fund which includes the proceeds <br />fro~ the sale of the landfill. To date, the City has used these funds to <br />reimburse certain landfill-related costs. This fund generates a substantial <br />amount of annual interest. <br /> <br />The Economic Development Commission has been reviewing various potential <br />sources of funding available to the Commission and City for various economic <br />development activities. The EDC feels that the landfill has had an adverse <br />effect on economic development (primarily industrial development) in the City. <br />The Commission is requesting that the Council determine whether it would ever <br />consider authorizing a certain amount of the annual interest from these funds <br />to be used for some specific economic development activity. The Commission is <br />not requesting any funds at this time, it is simply seeking potential sources <br />of funds. <br /> <br />Enclosed are minutes from the August 13, 1986 Economic Development Commission <br />meeting for your information. <br /> <br />Recommendation: <br /> <br />Council action will be based on your discussion. <br /> <br />~eview Checklist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Development Director <br /> <br />Chief of Police <br />Finance Officer <br />Public l~orks Superintendent <br />EDC <br /> <br /> <br />