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Consider Year 2008 EDA Budget and Resolution Regarding EDA Levy <br />August 13, 2007 EDA Meeting <br />Page 3 of 3 <br />Recommendations <br />Staff recommends that the EDA approve the year 2008 EDA Budget as presented. In addition, <br />staff recommends that the EDA approve the attached Resolution establishing the EDA tax levy for <br />collection in year 2008. <br />A copy of the most recent balance sheets for the various funds which the EDA has accessed for <br />projects are attached as information. These funds include the: <br />• Micro Loan Fund with a cash balance of $898,342 <br />• EDA DTED Loan with a cash balance of $122,567 (funds derived from 2003 federal grant <br />for Sportech expansion) <br />• Development Fund with a cash balance of $77,704 (City-controlled fund for capital projects <br />such as Northstar Business Park and Gateway Business Park) <br />S:\EDA\ED Admin\EDA Budget\EDA 08 BUDGET.DOC <br />