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• $7,000 is allocated to the marketing/newsletter projects in 1996. A typical <br /> quarterly newsletter costs $550 to print for an annual expense of $2,200. In <br /> addition, the community profile expense and the cost to update the marketing <br /> brochure inserts are attributable to this category. <br /> $4,500 is allocated to EDA postage. This reflects a slight increase from 1995 and <br /> takes into consideration the increase in postage. The EDA spends approximately <br /> $2,200 in postage to mail the four economic development newsletters. <br /> $800 is allocated for the telephone in 1996. <br /> $6,000 is allocated to the Elk River Area Chamber of Commerce. <br /> 1665° $4,050 is allocated for undefined development activities in 1996. Proposed <br /> expenditures may include appraisals, feesability studies, and the like. <br /> $500 is allocated for insurance in 1996. <br /> TRANSFERS OUT ($1,000) <br /> $1,000 is allocated as a transfer to the City's general fund in 1996. Tnis covers the <br /> Assistant City Administrator's time on EDA projects, including financial updates, <br /> and updates on the micro-loan fund. <br /> ACTION REQUESTED <br /> The EDA Commissioners are asked to approve the 1996 EDA budget in the <br /> amount of$90,000. <br /> The EDA is also asked to adopt a resolution requesting that the City of Elk River <br /> levy a tax in an amount not to exceed .01813 percent of the taxable market value <br /> in the City to be used for economic development purposes by the Elk River <br /> Economic Development Authority. A draft of this resolution is attached to the <br /> memo. <br /> • <br />