EDA Levy - Laserfiche WebLink

Home Browse Search

■ We currently budget$65,000 for EDA staff, but our full staffing budget is in conjunction with our planning department. In the past the EDA and City went through DEED's shovel ready process and was able to certify approximately 70 acres in our industrial park. Also prior to my time, the EDA and City bought a couple old homes in our commercial area and paid to have the houses demolished. From what I heard, it was a huge improvement for the area. We are looking to implement/kick off a revolving loan fund or smaller incentives, but the policies are not currently in place and have not been budgeted for. Updating our city website, cooperating with the Chamber of Commerce, BR&E's, Broadband Initiative, Community Videos, Update marketing brochures, hire a broker to market Becker, Site Selector events, Trade shows, MNCAR Expo, Metro area Tour, DEED events, update maps & newsletter, Marketing Plan,Twin Cities business articles, MN Real Estaet Journal, demographic studies, income,traffic counts, retail oriented packets distribution, update policies, etc. EDA Program Goals Creation of a strong and diverse tax base ■ Higher quality commercial/industrial development with a higher tax base density per acre ■ A mix of wage rates which meet or exceed the livable wage as per the City's municipal subsidies policy, depending upon the types of businesses that locate here ■ Development and Redevelopment Professional, Medical and Technology oriented business/office ■ Heavy and Light Manufacturing/office warehouse/rail users ■ Business/office park with higher development standards ■ Commercial/retail centers ■ Appropriately zoning industrial land when annexed into the City City of Robbinsdale EDA: The HRA/EDA levy goes into the Robbinsdale EDA General Fund - $165,000 for 2016. The amount of the levy is similar to the amount that the City invoices the REDA for City Staff time working on REDA projects — including finance, community development and the City Manager's time in role of Executive Director for REDA—as well as REDA Attorney. REDA has a long standing scattered site residential program — we acquire severely blighted homes, demolish them, and sell the lot for new construction. New construction is not for a starter home —the homes are typically 3-4 bedroom, with lots of kitchen upgrades. The difference between acquisition + demolition and sale of the home averages around $50,000; depends on asbestos removal. REDA has a downtown loan program (attached)—these are rarely repaid. REDA has also been involved in larger scale downtown redevelopment involving admin of funds from other agencies—County/TBRA/... or TIF.