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Year 2002 EDA Budget <br /> August 13,2001 <br /> Page 2 <br /> • Legal Fees $ 1,750 <br /> Other Professional Services $ 9,000 <br /> * Update Strategic Economic Development Plan& <br /> Industrial Marketing Plan $6,500 <br /> * Ehlers &Assoc. Finance Advisors $2,500 <br /> Telephone— (HRA to pay 25%) $ 200 <br /> Postage— (HRA to pay 25%) $ 1,500 <br /> Travel, Conference& Schools— (HRA to pay 25%) $ 5,000 <br /> Advertising/Marketing—per Industrial Marketing Plan $ 40,000 <br /> *Advertising Campaign&Web Site Design <br /> * Special Event&East/West Business Park Signage <br /> Publishing— (HRA to pay 25%) $ 1,000 <br /> Insurance $ 500 <br /> Dues &Subscriptions— (HRA to pay 25%) $ 700 <br /> Miscellaneous $ 6,000 <br /> *Donation to Chamber of Commerce <br /> Transfer out to General Fund $ 3,000 <br /> Total EDA Year 2002 Proposed Expenditures $165,450 <br /> Total EDA Year 2002 Projected Revenues $165,450 <br /> • Business Incubator <br /> The EDA business incubator budget includes total revenue from rent expected in the <br /> amount of$7,000 in 2002. Current tenants include Solar Attic (April 2002) and Vertical <br /> Publishing. Proposed business incubator expenses include the following: <br /> Operating supplies $ 2,200 <br /> Other Professional Services (Harlan Jacobs) $ 6,000 <br /> Advertising/Marketing $ 2,500 <br /> Cleaning Services $ 500 <br /> Building Rent $ 14,000 <br /> Total Business Incubator Expenditures $ 25,200 <br /> Total Business Incubator Revenues $ 7,000 <br /> The approximate $18,200 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 /> Recommendation <br /> Staff recommends the EDA approve the Year 2002 EDA Budget and Business Incubator <br /> Budget as presented. <br /> • <br />