HomeMy WebLinkAbout13-006 EDA Budget Amendment
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 13-006
A RESOLUTION APPROVING AN AMENDMENT TO THE 2013 PRIOR LAKE GENERAL FUND
AND ECONOMIC DEVELOPMENT AUTHORITY BUDGETS
Motion By: Keeney Second By: Soukup
WHEREAS, The Prior Lake Economic Development Authority (EDA) requested an amendment to the 2012
EDA budget on July 16, 2012 in the amount of $50,000 for the purpose of establishing the City
of Prior Lake Technology Village Business Incubator; and
WHEREAS, The City Council approved the $50,000 amendment to the 2012 General Fund and EDA
budgets on September 10, 2012; and
WHEREAS, Approximately $13,000 of the costs for establishing the Prior Lake Technology Village
Business Incubator were incurred in 2012 and the remaining costs estimated at $37,000 will
be incurred in 2013; and
WHEREAS, The Prior Lake Economic Development Authority (EDA) requested an amendment to the 2013
EDA budget on January 22, 2013 for the remaining amount of $37,000 for the purpose of
completing the City of Prior Lake Technology Village Business Incubator.
NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1.The recitals set forth above are incorporated herein.
2.The General Fund budget amendment is hereby approved to reflect a transfer of up to $37,000 from
the General Fund Reserves to the Economic Development Authority Fund.
3.The Economic Development Authority budget is hereby approved in the additional amount of $37,000.
PASSED AND ADOPTED THIS 28th DAY OF JANUARY 2013.
YES NO
Hedberg X Hedberg
Keeney X Keeney
Morton X Morton
Soukup X Soukup
Vacant Vacant
______________________________
Frank Boyles, City Manager