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An allocation of$10,000 is proposed for the Together Elk River Campaign. Based upon discussions at the May <br /> 18, 2020, special meeting, $10,000 is allocated for incentives and rebates promoting Energy City. <br /> A new allocation in advertising and marketing of$2,000 is budgeted to showcase available industrial and <br /> commercial sites utilizing drone footage. The EDA should consider increasing this amount based on the <br /> information presented. <br /> Staff proposes $45,000 towards the wetland credit bank which is a shared initiative between the EDA and the <br /> Environmental Divisions, allocating$3,000 to the Initiative Foundation and$5,000 toward Public Art. <br /> Any unspent funds remaining at the end of the year stay in the EDA fund for future economic development <br /> purposes/projects. If a non-budget item comes up in 2021,we can use the fund balance and make a budget <br /> amendment. <br /> Financial Impact <br /> The 2021 expenditure budget is $369,650. <br /> Attachments <br /> ■ 2021 EDA Budget/Goals <br /> ■ Resolution <br /> ■ July 15, 2020, EDA Budget Workshop Packet <br /> ■ MREJ Conference Calendar <br />