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<br />Request for Action <br /> <br />To Item Number <br />Economic Development Authority 9.1 <br /> <br />Meeting Date Prepared By <br />July 15, 2024 Brent O'Neil, Economic Development Director <br /> <br />Item Description Reviewed by <br />2025 Budget Workshop Cal Portner <br />Action Requested <br />Item is presented for information and discussion purposes. <br /> <br />Background/Discussion <br />Staff's initial work on the budget for 2025 is substantially carrying forward existing budget items and similar <br />expenditure amounts from 2024. Goals and objectives are similar as well. In addition to discussion on those <br />items staff wishes to discuss potential new initiatives for 2025. Among them are new development land and <br />considering visitor recruitment and tourism-oriented activities, potentially in partnership with the Chamber. <br /> <br />Following the workshop, staff will work to finalize the preliminary budget for EDA consideration and adoption <br />in August. The budget adopted by the EDA will be presented to the City Council in September for inclusion <br />in the preliminary levy. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />EDA bylaws require an annual budget workshop to plan for the upcoming year. <br /> <br />Attachments <br />1. EDA Workshop Draft Goals <br />2. EDA Workshop Draft Budget <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br />