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July 15, 2016 EDC Meeting <br />Item 5A – EDA Levy <br />Page 8 of 8 <br />celebration, we offer three local incentive programs (low interest loan, rent reimbursement, <br />and a matching grant/0% interest loan program), Our EDA did issue bonds for a lease to <br />buy on the City’s Fire Hall. <br /> <br />City of Staples: The state sets our tax levy and we use the funds for staff time on planning <br />& program delivery such as; municipal comp planning, transportation, broadband, <br />managing our EDA revolving loan funds, (we have 4 lending programs at Region Five) <br />business, transportation, energy, local foods, and much more! The Regional Development <br />Commissions (RDC’) across the state do not have levy authority beyond what the state <br />offers. Per state statute the only property RDC’s can own is the property on which our <br />offices reside. Our tax levy contribution is less than 1/3 of our annual budget. The levy <br />share of MN RDC budgets vary among the 9 MN RDCs. <br /> <br />City of Northfield: The EDA purchases property and assists with TIF and Tax Abatement <br />Districts and manages a Revolving Loan Fund. The Micro-Grant program is an annual <br />budget appropriation of $25,000 for up to $5,000 grants that are available to local <br />entrepreneurial businesses for expansion projects. A business must be in operation for at <br />least 1-year, have a qualified project, and be awarded funding from this program one time <br />per business. The Northfield Enterprise Center (NEC) is a local entrepreneurial support <br />program funded primarily by the Northfield EDA. The NEC has been in business for 15 <br />years and has assisted with over 100 local business start-ups in Northfield. <br /> <br />City of Champlin: The EDA levy pays for operating costs including salary, benefits, <br />insurance, marketing, consulting expenses for our development activities. Salaries & <br />Benefits, operating supplies, minor equipment, Consultants, Auditing & Accounting <br />Services, Engineering fees, Legal Services, Contract Services, Travel Expenses, <br />Marketing, Advertising & Publishing, Insurance & Bonds, Electric Utilities, Sewer Utilities, <br />Subscription & memberships, taxes & Licenses, Special Events. <br /> <br />Staff Recommendation <br />Discuss and make recommendation to the EDA highlighting the EDC consensus regarding <br />adopting an EDA levy for 2017. The EDC recommendation will be presented to the City <br />Council at its August 1, 2016 Council Work Session. <br /> <br />Respectfully submitted, <br /> <br /> ____________________________ <br />Brian Beeman, Business Development Coordinator <br /> <br /> <br />