Laserfiche WebLink
<br />BiCl Lake EDA <br /> <br />Structure <br />. Established 1990 <br />. 7 members including 2 members of the City Council, appointed by the Mayor <br />with approval of the City Council <br />. Members must be residents of Big Lake or business owners in Big Lake <br />. 2 members appointed by the township board who are ex-officio at all times, <br />except when discussing matters related to a joint powers industrial <br />development project, at which time they become full voting members <br />. 2 city members become non-voting when township members have voting <br />rights; at no time are there more than 7 voting members <br />. Staggered terms initially; then 6-year terms, except city council members and <br />elected township officials whose term coincides with their existing term as an <br />elected city or town official <br />Functions, Powers and Duties <br />. Hire staff, engineers and consultants to perform duties and exercise powers <br />. Purchase materials and supplies needed to carry out functions <br />. Use the services of the City Attorney and City's purchasing department <br />. Exercise the powers granted to carry out its purpose <br />. Create & define the boundaries of an Economic Development District <br />. Related to Joint Powers agreement with township <br />. Acquire property by lease, purchase, gift, devise or condemnation <br />proceedings, the needed right, title and interest in the property to create <br />Economic Development Districts <br />. May sign options to purchase, sell or lease property; make contracts; be a <br />limited partner in project consistent with Authority's purpose <br />· May acquire rights and easements for a term of years <br />. May receive property from other units of government <br />. May operate and maintain a public parking facility or other public facilities to <br />promote development in an Economic Development District <br />Limitations of power <br />. Sale of bonds or obligations shall be issued and approved by the City Council <br />. Must be consistent with the comprehensive plan <br />. Obligations <br />o Must submit budget annually to the City Council <br />. _ City of Big Lake sets the levy annually for the purpose of the BLEDA, <br />separate from the City's general fund. . <br />Budget <br />The Big Lake EDA has total assets of $762,058. Operating revenues for 2006 <br />total $143,500; operating expenses for 2006 total $18,500. Sources of income <br />include grant proceeds, net lease revenue after debt service, and interest. <br />Expenses include legal and professional services, engineering, advertising and <br />property related expenses. <br /> <br />5 <br />