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<br />Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 7.3 <br />Agenda Section Meeting Date Prepared by <br />General Business August 15, 2022 Brent O’Neil, Economic Development Director <br />Item Description Reviewed by <br />2023 EDA Budget Lori Ziemer, Finance Director <br />Reviewed by <br />Cal Portner, City Administrator <br /> <br />Action Requested <br />Approve, by motion, an EDA preliminary levy for 2023 for inclusion in the city’s overall preliminary levy. <br /> <br />Background/Discussion <br />Following the EDA’s budget workshop, the EDA will be asked to set the preliminary levy for the EDA. This <br />amount will be presented to the City Council on September 6, 2022, for inclusion in the city’s overall <br />preliminary levy. The recommended levy amount will be determined by discussion at the workshop; the <br />baseline levy to be presented to the EDA at the workshop is $403,500. <br /> <br />The budget approval process is slightly different this year due to a request from Sherburne County to provide <br />the preliminary levy amounts prior to September 15. Staff anticipates bringing the final budget and goals for <br />EDA consideration at the September 18 regular meeting, which cannot exceed the preliminary levy. The <br />budget, as approved at the September meeting, would be included in the city’s final budget and levy approval at <br />the end of the year. <br /> <br />Financial Impact <br />N/A. <br /> <br />Attachments <br /> None <br /> <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and <br />community engagement that encourages and inspires prosperity <br />