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Economic Development Authority (EDA) <br />Meeting Date: 08/09/2018 <br />By: Tim Gladhill, Community Development <br />4. 1. <br />Title: <br />Review Draft 2019 Preliminary EDA Budget and Levy <br />Purpose/Background: <br />Annually, the EDA makes a recommendation to the City Council for the coming year's EDA budget and levy. The <br />EDA levy is included within the City's general levy and calculates into the city's overall tax capacity rate. The City <br />Council will be considering the City's preliminary levy in September. All budgets and levies are preliminary and <br />will not become finalized until December 2018. <br />The purpose of this case is to develop a recommendation from the EDA board to the City Council for the 2018 <br />EDA levy. <br />Notification: <br />Notification is not required. <br />Observations/Alternatives: <br />STAFF NOTES <br />Staff is proposing a slight decrease to the EDA budget. Staff feels the existing EDA budget is adequate to meet the <br />needs of the EDA in 2019--based on the EDA Worplan and the City Council Strategic Plan. Therefore, staff does <br />not believe significant discussion is required. <br />Major Accounts: Staff uses the 6249 account for various events (EDA Golf Tourney, EDA Business Expo, Fall <br />Networking <br />Event, Anoka Broker Event, Minnesota Marketing Partnership, Anoka Tech Job Fair, etc.). Staff uses the 6301 <br />account for professional servicers (Ehlers, WSB, Hakanson Anderson, Loucks, Briggs and Morgan, CMDC for <br />appraisals, site investigation, site concepts, tax runs, of runs, legal assistance, underwriting assistance, and <br />supplemental staff as needed). 6246 is the marketing/ advertising budget (graphic arts, pictures, ads, maps, <br />campaigns, marketing materials, marketing subscriptions, signs). <br />Funding Source: <br />EDA levy supports the EDA operating budget. <br />Recommendation: <br />Staff recommends that the City Council adopt the 2019 Preliminary EDA Budget and Levy. <br />Action: <br />Motion to recommend that the City Council adopt the 2019 Preliminary EDA Budget and Levy. <br />Proposed 2019 EDA Budget <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />