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AK ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> gl IF <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> F OM: Paul T. Steinman, Director of Economic <br /> Development <br /> DATE: August 7, 1997 <br /> SUBJECT: Agenda Memo for August 11, 1997, <br /> Meeting <br /> 5. Review/Approve 1998 EDA Budget <br /> Based on a maximum statutory levy of.01813 percent of the city's <br /> taxable market value, it is estimated the EDA will have approximately <br /> $107,000 in revenues in 1998. The proposed 1998 budget is outlined <br /> below and includes a summary of the following items: <br /> Personal services - $52,850 -This line item includes salaries of <br /> the EDA Commissioners ($150/month/commissioner)plus 50 <br /> percent of the economic development director's salary, pension, <br /> and benefits. In addition, 15 percent of an administrative <br /> support position and videotaping of EDA meetings and minute <br /> taking is funded through this line item. <br /> Supplies $900 - This is for expenses related to office supplies <br /> and this department's share of gas for the city vehicle. <br /> Other Services and Charges - $51,800- <br /> Legal - <br /> 51,800Legal- $3.500 <br /> Other Professional Services - $6,000 <br /> • possibly share cost of market study of central business <br /> district with HRA - $5,000 <br /> • other miscellaneous professional services $1,000 <br /> 10 <br /> 13065 Orono Parkway • P. 0. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />