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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: EDA President Fischer and Economic Development Authority Commissioners <br /> <br />FROM: Chris Heineman, City Administrator <br /> <br />DATE: January 11, 2023 <br /> <br />RE: Review Economic Development Authority Scope & Officer Appointment <br /> <br /> <br />BACKGROUND <br />An Economic Development Authority (EDA) is a political subdivision of the State of Minnesota <br />authorized by MN Statue 469.094-108 to promote enhancement and expansion of local tax base. <br />EDA Commissioners often include elected City officials, business representatives, and local <br />residents who work together to attract and retain local businesses, assist with business expansion, <br />and promote rehabilitation and redevelopment of specific areas within the community. EDA’s <br />utilize a combination of the powers of Port Authorities and Housing Redevelopment Authorities <br />(HRA’s) to create business assistance and development programs. <br /> <br />The City Council discussed several priorities and initiatives related to economic development <br />during the strategic planning retreat in April, 2022. According to the Vision for 2025, one of the <br />key strategies identified was maximizing our assets to catalyze development. The City of Little <br />Canada is attempting to continuously keep the community vital and a great place to live through <br />efforts in development, redevelopment, housing, and other amenities that help keep the City <br />economically healthy and attractive. <br /> <br />One of the strategic initiatives that was identified through the strategic planning process was to <br />review and redefine the EDA scope. There are many potential benefits to consider appointing <br />local business representatives and residents to serve on the Economic Development Authority. <br />Redevelopment projects often take considerable time and effort to materialize, and creating a <br />separate EDA Board of Commissioners to focus on these projects enables the City Council to <br />focus the broader scope of City priorities and initiatives. <br /> <br />An economic development authority shall consist of either three, five, or seven commissioners. <br />Two members of the city council must serve on the EDA Board of Commissioners if the EDA <br />consists of five or seven members. MN Statute also allows for all members of the city council to <br />serve as the EDA Board of Commissioners. For your consideration, I have included a copy of <br />Subdivision I and II of MN Statute 469.095 related to EDA Commissioners. <br /> <br />Subdivision 1. Commissioners <br />Except as provided in subdivision 2, paragraph (d), an economic development authority shall <br />consist of either three, five, or seven commissioners who shall be appointed after the enabling <br />resolution provided for in section 469.093 becomes effective. The resolution must indicate the <br />number of commissioners constituting the authority.