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3.1. EDSR 08-06-2019
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3.1. EDSR 08-06-2019
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8/1/2019 11:41:13 AM
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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 3.1 <br />Agenda Section Meeting Date Prepared by <br />General Business August 6, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />2020 EDA Budget & Budget Goals Lori Ziemer, Finance Director <br />Reviewed by <br />Cal Portner, City Administrator <br /> <br />Action Requested <br />Information presented for discussion only. Action is to be taken at the August 19, 2019, EDA meeting. <br /> <br />Background/Discussion <br />At their July 15, 2019, special meeting the EDA directed staff to increase legal expenditures to $6,000. In <br />addition, the EDA asked for more information on the International Development Council’s (IEDC), <br />Certified Economic Developer (CEcD) Certification. As adjusted, the proposed expenditures are <br />$342,950. <br /> <br />The CEcD certification establishes a baseline of core knowledge for economic development <br />professionals. IEDC's CEcD are acknowledged around the world as having achieved the pinnacle of <br />excellence in the economic development field: <br /> <br />1. Experience as an economic development practitioner <br />Candidates are required to have at least four (4) years of consecutive, paid, full-time economic <br />development related experience. Positions should be directly related to economic development <br />activity. Candidates must provide a recent, detailed resume to verify this criterion. <br /> <br />2. Professional development activity <br />IEDC emphasizes professional development for the Certified Economic Developer. In order to <br />qualify for the exam and ensure that the candidate is exposed to the various aspects of economic <br />development, individuals are required to attend practitioner-based training courses. <br /> <br />Core Competency courses (required): <br />1 <br />• Introduction to Economic Development or Basic Economic Development Course (BEDC) <br />• Business Retention and Expansion <br />2 <br />• Economic Development Credit Analysis <br />3 <br />• Real Estate Development & Reuse <br /> <br />Elective Competency Courses (must take a minimum of 2): <br />• Economic Development Finance <br />• Economic Development Marketing & Attraction <br />• Economic Development Strategic Planning <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />
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