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Consider Year 2006 EDA Budget and Resolution Regarding EDA Levy <br /> August 8,2005 EDA Meeting <br /> Page 2 of 3 <br /> • BDM Consulting Engineers $ 7,000 <br /> • Legal Fees (purchase agreements for EDA land, etc.) $13,000 <br /> • Other Professional Services $23,000 <br /> o Strategic Industrial Marketing Plan Update <br /> o Ehlers &Associates <br /> • Telephone (shared with HRA) $ 200 <br /> • Postage (some shared with HRA) $ 2,000 <br /> • Travel, Conference and Schools (shared with HRA) $ 6,200 <br /> • Advertising/Marketing $76,300 <br /> o Economic Development Website <br /> o Community Profiles (design&print) <br /> o Advertising (production&publication) <br /> o Public Relations Writer (articles, direct mail, newsletters) <br /> o Technical Assistance Program <br /> • Publishing $1,000 <br /> • Insurance $ 500 <br /> • Dues & Subscriptions $ 1,500 <br /> o Economic Development Association of Minnesota <br /> o Manufacturers Affiance <br /> • Miscellaneous $8,500 <br /> o Chamber of Commerce July 4th Celebration contribution <br /> o Initiative Foundation contribution <br /> • • Transfer out to General Fund (support staff, etc.) $ 17,000 <br /> Total EDA Year 2006 Proposed Expenditures: $265,750 <br /> Total EDA Year 2006 Proposed Revenue: $345,800 <br /> The proposed budget includes a contribution in the amount of$2,500 to the Initiative <br /> Foundation. Last year the EDA authorized a contribution of$2,500 to the Initiative <br /> Foundation. Information about the Initiative Foundation's 2006 request of$5,000 is <br /> attached. <br /> The projected balance of$80,050 will be put into the EDA reserves for any future project <br /> expenses. <br /> Attached to this memo you will find a Resolution establishing the tax levy for the Elk River <br /> EDA,which requests that the City Council levy such maximum amount for the authority for <br /> the year 2006, as in previous years. The City must certify its proposed maximum levy, <br /> including EDA and HRA levies, to Sherburne County annually in September. <br /> Business Incubator Budget Summary <br /> The EDA Business Incubator Budget is based upon the assumption that the program <br /> continues as it has over the past eight years in Larry Hickman's building space. <br /> 1111111 <br />