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• <br /> Currently only one of the suites is occupied by KnowledGenetica. Proposed business <br /> incubator expenses include the following: <br /> Other Professional Services (Genesis Business Centers) $12,000 <br /> Legal $ 1,500 <br /> Advertising/Marketing $3,000 <br /> Building Rent (3 suites plus common areas @ $2.10/sf) $14,800 <br /> Total Business Incubator Expenditures $31,300 <br /> Total Business Incubator Revenues $15,000 <br /> The approximate $16,300 shortfall in this budget is proposed, as it has been in the past,to <br /> be funded through the use of funds generated by Tescom Corporation's loan repayment. <br /> The City has a current cash balance in this account of$164,300. <br /> Should a new Incubator concept be considered at any time in the future,the Business <br /> Incubator Program budget would be reviewed by the EDA for adjustment. <br /> Recommendation <br /> Staff recommends the EDA consider approval of the Year 2004 EDA Budget and Business <br /> • Incubator Budget as presented. <br /> • <br />