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$17,000 is allocated to support various advertising activities of the <br /> 4110 EDA in 1997.. These activities include expenditures in regional and <br /> state publications such as Corporate Report, Minnesota Real Estate <br /> Journal, Business Media, and Twin Cities Business Monthly. Specialty <br /> ads are also a part of this budget which include the Star News,and <br /> other publications as determined appropriate. <br /> $2,000 is allocated to general marketing expenses in 1997. Typically <br /> these costs involve updating the brochure inserts and printing costs <br /> associated with that issue. <br /> $6,000 is allocated to printing/newsletter project. <br /> $4,500 is allocated to postage. A majority of this amount is spent <br /> mailing the economic development newsletters. <br /> $800 is allocated for telephone expenses. <br /> $6,000 is allocated to the Elk River Area Chamber of Commerce. <br /> $6,550 is allocated for development activities. Proposed expenditures <br /> include such things as appraisals, feasibility studies, and other <br /> • miscellaneous activities related directly to development projects. <br /> $500 is allocated for insurance. <br /> Transfers Out $1,000 <br /> $1,000 is allocated as a transfer to the city's general fund which covers <br /> administrative expense time involved in EDA projects, include <br /> financial updates, and updates on the micro loan fund. <br /> Action Requested <br /> Staff is recommending at this time the EDA approve the 1997 EDA budget in <br /> the amount of$93,750. <br /> Staff is also recommending that the EDA adopt Resolution 96- requesting <br /> that the City of Elk River levy a tax in an amount not to exceed .01813 <br /> percent of the taxable market value in the city to be used for economic <br /> development purposes by the EDA. Such resolution is attached to this memo. <br /> • s:eda\meetings\97bdgt.doc <br />