HRSR INFORMATION 07-26-1999 - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 August 9, 1999 • 6. Consider Year 2000 Budget 7. Consider Resolution Regarding EDA Lew Paul Steinman reviewed the proposed 2000 budget for the Economic Development Authority. He explained that the budget consists of three separate budgets including Economic Development-General Fund, Economic Development Authority, and Housing and Redevelopment Authority. Paul Steinman reviewed the proposed expenditures for the year 2000, which totaled $145,100. He indicated that the year 2000 projected revenues are $145,150. Paul Steinman explained that staff is proposing to bring two of the budgeted line items back to the EDA prior to undertaking expenditures. These budgeted line items include other professional services-create an economic development marketing plan - $9,000 and advertising & marketing - implementing marketing event- $7,000. Paul Steinman reviewed the Economic Development Authority Business Incubator budget. He indicated that the total Business Incubator expenditures are $38,000 and the total Business Incubator revenues are $10,000. He explained that the approximate $28,000 shortfall is proposed to be funded through the use of funds generated by Tescom Corporation's loan repayment. Commissioner Klinzing questioned why the actual dollar amount exceeded the original budget amount under line item#4440 titled miscellaneous. She requested that the EDA be provided with a written breakdown of this line item. 411) COMMISSIONER GONGOLL MOVE TO ADOPT RESOLUTION 99-2 ESTABLISHING THE TAX LEVY FOR THE CITY OF ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA AND TO APPROVE THE PROPOSED BUDGET. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 6-0. Commissioner Klinzing requested to see the actual figures for revenue projection for year 2000 once this figure is available. 5. US Postal Service Presentation President Dwyer noted that the HRA and City Council members were present at this meeting. He indicated that a special meeting had been called so that the council and HRA could hear the presentation from the postal service regarding the relocation of the post office. Representatives of the US Postal Service addressed the EDA in regard to the proposed relocation of the post office. It was noted by postal representatives that two sites had been considered. The former Elk River Mall was considered as a possible relocation site, however, due to the current development taking place, the postal service withdrew their offer. The second and most desired location is at the corner of County Road 12 and 13. The postal service has not yet signed the contract, but intends to continue negotiations for the site. Discussion took place between members of the EDA, HRA, and City Council regarding the proposed location of County Road 12 and 13 versus a downtown location. It was noted that the city would prefer a downtown location. It was further noted that the proposed location may be inconvenient for postal