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Motion by Member Kiefer to recommend to City Council to levy the amount of $260,000 <br />utilizing the EDA Levy. <br /> <br />Further Discussion: Member Kiefer indicated the amount of $260,000 would split the difference <br />between the $233,000 levy and the proposed $293,000 levy. Without having some resources to <br />work with in terms of acquiring properties the EDA will be very limited in terms of what they <br />can facilitate and move along. He believes with this levy the return on investment for the <br />taxpayers would be much better in terms of'redevelopment and being able to generate some tax <br />base. This would benefit the taxpayers in terms of them having to pay potentially less taxes by <br />creating jobs locally, and increasing the tax base with the burden spread over a larger area. <br />Economic Development / TIF Specialist Sullivan noted it may also be beneficial to purchase <br />properties before they become more expensive. Chairperson Riley stated if the levy is not <br />increased there are still TIF funds and General Budget funds available. <br /> <br />Motion died for lack of a second. <br /> <br />Motion by Member Steffen, seconded by Member Gromberg, to recommend to City Council to <br />levy the amount of $233,306.42 utilizing the EDA Levy. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members Steffen, Gromberg, Kiefer, and <br />Strommen. Voting No: None. Absent: Members Kurak and LeTourneau. <br /> <br />Further Discussion: Member Gromberg directed staff to adjust the line items on the budget as <br />discussed. He clarified HRA funds that have not been spent will roll over into the EDA budget, <br />and requested consideration of a policy for these funds to roll into the Revolving Loan Fund. <br />Economic Development / TIF Specialist Sullivan indicated the line items on the budget will be <br />addressed in December. <br /> <br />Case #4: Staff Update <br /> <br />· Associate Planner Wald requested direction regarding the next Business Tour. Staff is <br /> recommending RJM/General Paper Products be included in the tour. One additional business <br /> is also needed for the tour. Direction is also needed for the date of the tour. The time will <br /> be 1:00 p.m. to 4:00 p.m. <br /> o The consensus of the EDA was to include Panther Precision in the tour. The date will <br /> be October 13th or October 14th.~ <br />· Associate Planner Wald requested direction regarding the Business Network Meeting. She <br /> noted it could be a morning meeting or a lunch meeting. <br /> o The consensus of the EDA was to schedule a morning meeting on October 26th. <br /> Topics of discussion should be Town Center, transportation, and a brief recent and <br /> future residential and commercial development. <br />· Associate Planner Wald requested direction for meeting times of future EDA meetings. <br /> o The consensus of the EDA was to schedule EDA meetings the second Wednesday of <br /> each month at 7:00 a,m. <br /> <br />Economic Development Authority/September 8, 2004 <br /> Page 8 of 9 <br /> <br /> <br />