HomeMy WebLinkAbout02 18 2014 EDA Report 7A Attach2
RESOLUTION 14-xxEDA (Option 1)
A RESOLUTION TO AMEND THE
2014 ECONOMIC DEVELOPMENT AUTHORITY BUDGET
Motion By: Second By:
WHEREAS, The Economic Development Authority spent a great deal of time, early in its existence,
developing strategic goals to facilitate more robust economic development in our
community; and
WHEREAS,Establishment of a Technology Village Incubator was identified as a key objective of
the EDA and one of the Economic and Community Development goals identified in the
City of Prior Lake 2030 Vision and Strategic Plan; and
WHEREAS, Estimated rent subsidies were budgeted at $10,000 in the 2014 budget; and
WHEREAS, The EDA will essentially deplete its rent subsidies allocation by an agreement with
Innovative Computer Professionals, Inc. (ICP); and
WHEREAS, The EDA Fund has approximately $66,000 of cash reserves available as of
12/31/2013.
NOWTHEREFOREBE IT HEREBY RESOLVED BY THE ECONOMIC DEVELOPMENT
,
AUTHORITY OF PRIOR LAKE, MINNESOTA
as follows:
1. The recitals set forth above are incorporated herein.
2. The 2014 EDA budget is amended by reducing the Professional Services budget by $12,000 and
reallocating it to the Technology Village Rent Subsidies.
PASSED AND ADOPTED THIS 18th DAY OF FEBRUARY, 2014.
YES NO
Hedberg Hedberg
Bump Bump
Choudek Choudek
Chromy Chromy
Keeney Keeney
______________________________
Frank Boyles, Executive Director