HomeMy WebLinkAbout01 21 2014 EDA Report 8A
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: January 21, 2014
AGENDA #: 8A
PREPARED BY: Dan Rogness, Community & Economic Development Director
AGENDA ITEM: DRAFT EDA 2013 ANNUAL REPORT
DISCUSSION: Introduction
The purpose of this agenda item is to review Draft #1 of its annual report to the City
Council for 2013.
History
The EDA’s Bylaws, Section 8.4, states that, “Annually, or as may be required by City
Council, at a time and in a form fixed by the City Council, the EDA shall make a
written report to the City Council giving a detailed account of its activities and of its
receipts and expenditures during the preceding calendar year”. Staff is recommend-
ing that this written report be submitted to the council in February of 2014.
Current Circumstances
Staff has completed Draft #1 of a 2013 EDA Annual Report. At the EDA’s last
meeting in December of 2013, it reviewed two other Minnesota EDA examples
(Lakeville and Newport), and it directed staff to complete a report that is concise
about EDA actions during 2013.
Conclusion
Staff would like to use the 2013 report format as a template for future years. There-
fore, the EDA should review Draft #1 with that in mind, as well as to make sure that
the report captures all EDA actions and activity during the past year.
ISSUES: The EDA will need to complete another annual report in a few months as required
for the city’s new Local Business Incentives Policy. The incentives policy requires
that the report list anyone receiving a local business incentive during the previous
calendar year ($5,001+).
FINANCIAL Staff costs incurred with completing the report.
IMPACT:
ALTERNATIVES: 1. Motion and second to approve Draft #1 of the 2013 EDA Annual Report,
subject to further changes as may be provided by the EDA;
2. Motion and second to table action, and to provide direction to staff regarding
changes to Draft #1.
RECOMMENDED Staff recommends Alternative #1
MOTION:
ATTACHMENTS: 1. 2013 EDA Annual Report – Draft #1