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City of Hanover: ■ Only has EDA authority. The HRA powers are something I think you should consider up front versus having to go through the entire enabling process again down the road. ■ 7 member board. 5 members are people with a business connection to Hanover or are a community person who brings a benefit to the board. 2 members are council members who have full voting authority on the EDA. I like how ours is setup with majority members being business sense people separate from the Council. I think it gives the ability for a different thought process. I think this holds especially beneficial because the budget is considered, yet they always focus first on what they can offer the most and if they think the business is a good fit for the area. ■ Only holds EDA authorities versus both EDA and HRA. EDA does not have 100% separate powers so the EDA's levy and any financial decisions are final approved by our Council. I think this is good in order to help prevent a rogue operation from a board who could issue debt without any other approval, in the end increasing tax impacts. I know this is probably unlikely, but you never know. ■ i.e. If an incentive program is approved by our EDA,the Council gives final approval. ■ Our levy covers a consultant fee, member salaries, and website costs on an annual basis. I also provide staff assistance to the EDA, but my salary is paid from the city budget. ■ In the past they have also funded studies to determine growth of the city and specific needs for businesses,traffic studies, etc. ■ They also donate to the annual town celebration ■ Levy also helps fund the assistance fund ■ We offer three local incentive programs (low interest loan, rent reimbursement, and a matching grant/0% interest loan program) ■ Our EDA did issue bonds for a lease to buy on the City's Fire Hall. City of Staples: The state sets our tax levy and we use the funds as match for staff time on several planning & program delivery such as; municipal comp planning, transportation, broadband, managing our EDA revolving loan funds, (we have 4 lending programs at Region Five) business TA, energy, local foods and much much more! The Regional Development Commissions across the state do not have levy authority beyond what the state offers. Per state statute the only property RDC's can own is the property of which our office's reside. Our tax levy contribution is less than 1/3 of our annual budget. The levy share of MN RDC budgets vary among the 9 MN RDCs. City of Northfield: The 2016 general operating budget for the Northfield EDA is copied below. The EDA also purchases property and assists with TIF and Tax Abatement Districts and manages a Revolving Loan Fund. One of the differences between Northfield and other EDA's are the two final items under other charges. The Micro-Grant program is an annual budget appropriation of$25,000 for up to $5,000 grants that are available to local entrepreneurial businesses for expansion projects. A business must be in operation for at least 1-year, have a qualified project, and be awarded funding from this program one time per business. The Northfield Enterprise Center (NEC) is a local entrepreneurial support program funded primarily by the Northfield EDA. The NEC has been in business for 15 years and has assisted with over 100 local business start-ups in Northfield.