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STAFF REPORT <br /> PAGE TWO <br /> MARCH 24, 1994 <br /> The primary powers of the EDA include: <br /> * Creation of Economic Development Districts <br /> * Acquisition and Sale of Real and Personal Property <br /> * Use of Eminent Domain <br /> * Entrance into Contracts <br /> * Participation in Limited Partnerships <br /> * Establishment of a Foreign Trade Zone <br /> * Sale of G.O. and Revenue Bonds <br /> * Levying of Taxes <br /> * Use of Tax Increment Financing <br /> Establishing an EDA is consistent with the City Council goals and <br /> FOCUS 2000 action steps that declare that the encouragement and <br /> financial support of economic development and redevelopment in the <br /> City is vital to the orderly development of the City and is also in <br /> the best interest of the health, safety, prosperity and general <br /> welfare of the citizens of the City. <br />