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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 /> <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 /> <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 /> <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 /> <br />Financial Impact <br />The 2021 expenditure budget is $369,650. <br /> <br />Attachments <br /> 2021 EDA Budget/Goals <br /> Resolution <br /> July 15, 2020, EDA Budget Workshop Packet <br /> MREJ Conference Calendar <br />