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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> l0(°` <br /> • <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: William Rubin, Executive Directo r <br /> DATE: July 10, 1995 <br /> SUBJECT: 1996 EDA Budget and Levy <br /> INTRODUCTION <br /> Based on a maximum statutory levy of.01813.percent of the taxable market value in the <br /> City, it is estimated that the EDA will have revenues of approximately $90,000 in 1996. <br /> The proposed 1996 EDA budget is outlined on the attached page and a narrative summary <br /> follows: <br /> • PERSONAL SERVICES $45,350 . 4 4-121$ <br /> This proposed expenditure of$45,350 includes the part-time salaries of the EDA <br /> - Commissioners ($100/month per Commissioner) plus 50% of the Economic <br /> Development Coordinator's salary, pension and benefits. In addition, one-fourth <br /> of an administrative support position (plus pension and benefits) is funded through <br /> the EDA as is one-fourth of the time of the Recording Secretary for EDA <br /> meetings. <br /> SUPPLIES AND CHARGES ($800) <br /> $800 is attributable to office supplies to the EDA in 1996. <br /> CONTRACTURAL SERVICES 542,850) diu5,35o <br /> $1,000 is allocated for theEconomic Development Consultant in 1996. <br /> $1,000 has been allocated for legal fees in 1996. <br /> $18,000 is allocated to support various advertising initiatives for the EDA in 1996. <br /> This includes expenditures in regional and state publications such as Corporate <br /> Report Ventures, Minnesota Real Estate Journal, Business Media, and Twin <br /> Cities Business Monthly. Specialty ads that are required in, say, the progress <br /> Aih edition of the Star News, and the Parade of Homes publication are also attributable <br /> IP to this category. <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />