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Member Cords aye <br />Member Riley nay <br />Member Kuzma aye <br />Member Hardin aye <br />Chairperson Steffen aye <br /> <br />Motion carried. <br /> <br />4.02: Recommend 2021 EDA Budget and Levy <br /> <br />Deputy City Administrator Gladhill presented the staff report. <br /> <br />Member Hardin asked if the Council provided a number or percentage for each department to trim <br />from the budget. <br /> <br />Deputy City Administrator Gladhill provided information on the EDA budget and levy authority, <br />noting that Ramsey requires approval from the Council on those figures. <br /> <br />Chairperson Steffen referenced the professional services budget line item and noted that the EDA <br />has not come close to spending that amount of funds. <br /> <br />Economic Development Manager Sullivan explained that he can complete a lot of the preliminary <br />tax increment financing analysis work that the previous employee was unable to do, which caused <br />a need for those professional services. He stated that when there are years with many development <br />proposals, those professional services dollars are needed to put proposals together. <br /> <br />Chairperson Steffen asked the cash balance of the EDA fund and whether those funds could be <br />used if necessary. <br /> <br />Economic Development Manager Sullivan stated that the current balance is about $1,300,000. He <br />noted that certain projects require property acquisition and that is when those funds could typically <br />be used. <br /> <br />Chairperson Steffen stated that he feels it would be justified to reduce the professional services <br />line item to $30,000. <br /> <br />Member Cords stated that he would support that reduction. <br /> <br />Member Hardin stated that he would also support that reduction. <br /> <br />Economic Development Manager Sullivan stated that he would support the recommendation and <br />if he feels that it would be warranted to increase that item in the future, he would feel comfortable <br />bringing that back before the EDA. <br /> <br />Economic Development Authority/ August 13, 2020 <br />Page 5 of 7 <br /> <br />