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FC CASE <br /> <br />ADOPT 1997 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET <br /> By: Jessie Lo Hart, Finance Officer <br /> <br />Background: <br /> <br />Attached for your review and consideration is the 1997 Proposed Economic Development <br />Authority Budget. This is the fourth year a formal budget will be used for economic <br />development activities financed by the EDA. <br /> <br />The financing sources for these operations include transfers from the tax increment districts and <br />interest earnings. Additional revenues from land sales could be recognized in I997, but due to <br />the speculative nature, are not budgeted for. <br /> <br />This budget includes expenditures for salary costs of various levels of city staff, costs associated <br />with the Economic Development Commission (these costs had formally been shown in the <br />General Fund) and allowances for economic development programs including participation at the <br />annual Game Fair, business expo and entry signs into the City. <br /> <br />Staff Recommendation: <br /> <br />Approve attached Resolution #96-12-XXX Adopting the 1997 Economic Development <br />Authority Operating Budget. <br /> <br />Committee Action: <br /> <br />Motion to recommend City Council adoption of Resolution #96-12-XXX Adopting the 1997 <br />Economic Development Authority Operating Budget. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Finance Officer <br />Economic Development Coordinator <br /> <br />FC: 12/10/96 <br /> <br /> <br />