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3 <br /> <br /> <br />While the EDA can legally operate without bylaws, adopting them reduces administrative ambiguity <br />and supports transparency and consistency as the Authority begins to take on a more active role. <br /> <br />Near-Term EDA Work Program <br />The following topics are anticipated for EDA discussion in 2026. These are informational and <br />exploratory discussions unless otherwise noted. <br />1. February 25, 2026 <br />EDA to formally adopt bylaws, 2026 budget and appoint officers. <br />EDA to discuss economic development priorities for Little Canada. <br />a. Staff will present different frameworks for understanding economic development. <br />b. Staff will provide data on the City’s tax base, employment patterns, and workforce. <br />c. Staff will provide an overview of City-owned parcels. <br /> <br />2. March 11, 2026 <br />Discuss objectives of high-priority city-owned parcels and how/when they should be listed for <br />sale. <br />a. Staff will provide background information on specific properties and relevant <br />departmental considerations. <br />b. Staff will outline procedural steps should the EDA wish to explore property disposition <br />options. <br /> <br />3. Other Objectives to Tackle in 2026 <br />a. Formalize plan/programming for LAHA dollars <br />b. Create formalized tax-increment financing (TIF) evaluation guidelines. The goal is to <br />have basic expectations and language for the Council to be able to evaluate “public <br />benefit” and overall fit of TIF proposals rather than approaching each one novelly. <br /> <br />Recommendation <br />Staff recommends that the Economic Development Authority review the overview of the Economic <br />Development Authority, the proposed bylaws for the Authority, and the discussion of Economic <br />Development Authority officer roles and potential appointments for 2026, with formal appointments to <br />occur following adoption of the revised bylaws.