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I <br /> • Staff Memo <br /> To: Economic Development Commission Members <br /> From: Cathy Bennett, Economic Development Coordinator <br /> Date: February 17, 1995 <br /> Agenda Item: Discuss Promotion of the Value of EDA & EDC <br /> (5.a.) <br /> With the establishment of the EDA, EDC and the addition of an economic <br /> development position at City Hall over the past year, there have been several rumors <br /> regarding the programs and goals relating to the EDA and EDC. In an effort to be <br /> more proactive in communicating with the public, it may be beneficial to prepare a <br /> summary report regarding the new approach the City has taken to improve the <br /> quality of life of the area through economic development efforts. Another reason is <br /> to dispel some of the false "rumors". Some of the rumors include the following: <br /> IIIProperty taxes are increasingdue to the increased <br /> p y economic development activities. <br /> The EDA\EDC is going to condemn my house if it doesn't fit into their plan. <br /> The City is going to use taxpayers dollars to improve highway 10. <br /> The market will drive economic development and we don't need this assistance. <br /> The EDC\EDA is going to bring a grocery store to the area. <br /> It has been suggested that we educate the public on the value of tax increment <br /> financing and that these funds are driven by new development not by residential <br /> property tax. <br /> I would like your suggestions on how to address this issue. <br /> III <br />