09-12-1994 EDA MIN - Laserfiche WebLink

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EDA Minutes September 12, 1994 Page 4 $6,100 1,400 500 Personnel Redesign & ordering of City pins Video taping expenses for EDA meetings $8,000 President Gongoll expressed his opposition to cutting expenses from the EDA's budget, as it is relatively small. He stated that he would be in favor of Option 1 if the cuts had to be made, but that he would like to continue the newsletter on a semi-annual or annual basis. Commissioner Dwyer pointed out that this cut represented approximately 10 percent of the EDA's budget, and questioned if other departments were being cut 10 percent as well. Bill Rubin stated that he did not have that information. Commissioner Dwyer stated that he was not in favor of using the EDA's fund balance for the expenses. He felt that it has taken time to build up the fund balance and would like to reserve it for projects such as the Tescom TIF Grant. Commissioner Dietz expressed his opposition to cutting the Chamber contribution. He stated that the EDA should consider using the developmental activities fund for making up the shortfall. Commissioner Dietz continued to say that it has been the Council's intent to shift more of the EDA personnel expenses to the EDA budget as time goes on. President Gongoll stated that he felt the availability of developmental funds are the crux of EDA. Commissioner Dietz replied that $16,000 in development activity funds in the 1994 budget were not used. Commissioner Dwyer stated that the EDA was planning to use a portion of the funds for business park activities such as soil borings, appraisal fees, and legal services. He further stated that the TIF funds designated for the business park are being reserved for land acquisition. Commissioner Duitsman explained the difficulty the Council is faced with in balancing the City's budget. He noted that an eleven percent increase in valuation is expected, which will affect the total amount of the levy. Discussion followed regarding the timetable for finalizing the City's budget. Commissioner Holmgren noted that it is difficult to compare the EDA with other City departments in that the EDA is able to levy against property taxes for their funds, the EDA has the ability to grant loans, and the EDA may generate a profit. He further noted that it was foreseen since the EDA's inception that the EDA would support as much as 50 percent of EDA salaries. Bill Rubin stated that it was his understanding the split would be 40-60 between the EDA and the City for 1995, and now a 50-50 spit is being proposed. City Administrator Pat Klaers explained that the EDA is being asked to approve the $8,000 increase in line items at this time. He stated that when further information is available regarding valuations, consideration will be given to the possible deletion of line items and addition of the fund balances. Pat also