HomeMy WebLinkAbout05(L) - Resolution Approving Transfer from the Community Development General Fund to the Economic Developmen Report
ITEM: 5L
CITY COUNCIL AGENDA REPORT
MEETING DATE: October 13, 2026
PREPARED BY: Casey McCabe, Community Development Director
PRESENTED BY: Casey McCabe
AGENDA ITEM: Resolution Approving a Transfer from the Community Development General
Fund to the Economic Development Authority Special Revenue Fund
RECOMMENDED ACTION:
Approve a resolution approving transfer of funds from the Community Development general fund
to the Economic Development Authority (EDA) special revenue fund to assist with costs related
to a downtown parking study.
BACKGROUND:
The EDA approved a downtown parking study proposal from Transportation Collaborative &
Consultants (TC2) at their meeting on September 14, 2026.The total amount of the contract is
$43,492.
The EDA will be paying for the parking study with funding available in their 2026 EDA Professional
Services – General (240-46500.00-53100.80) budget. The EDA requested city staff evaluate
additional funding sources to potentially decrease the EDA’s total cost for this study.
The Community Development budget is projected to end the year with a ± $9,000 balance in
Professional Services – General (101-41910.00-53100.80). The purpose of the Professional
Services – General fund is to pay for specialized, external engineering or consultant fees that
support city operations and initiatives. City staff feel this fund aligns with the EDA’s initiative to
complete a downtown parking study and is recommending $9,000 be transferred from 2026
Community Development Professional Services – General (101-41910.00-53100.80) to 2026
EDA Professional Services – General (240-46500.00-53100.80).
FINANCIAL IMPACT:
A total of $9,000 will transfer from the Community Development general fund to the EDA special
revenue fund to assist with costs related to a downtown parking study.
ALTERNATIVES:
1. Motion and second, as part of the consent agenda, approving a resolution approving the
transfer of funds from 2026 Community Development Professional Services – General to
2026 EDA Professional Services – General.
2. Remove this item from the consent agenda for additional discussion.
ATTACHMENTS:
1. Resolution
City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 26-
RESOLUTION APPROVING A TRANSFER FROM THE COMMUNITY DEVELOPMENT GENERAL
FUND TO THE ECONOMIC DEVELOPMENT AUTHORITY SPECIAL REVENUE FUND
Motion By: Second By:
WHEREAS, the City of Prior Lake Economic Development Authority (EDA) approved a downtown parking
study proposal from Transportation Collaborative & Consultants at their meeting on
September 14, 2026; and
WHEREAS, the total amount of the downtown parking study is $43,492; and
WHEREAS, the EDA will be paying for the parking study with funding available in their 2026 EDA
Professional Services – General (240-46500.00-53100.80) budget; and
WHEREAS, the EDA requested city staff evaluate additional funding sources to potentially decrease the
EDA’s total cost for this study; and
WHEREAS, the Community Development budget is projected to end the year with a ± $9,000 balance in
Professional Services – General (101-41910.00-53100.80); and
WHEREAS, the purpose of the Professional Services – General fund is to pay for specialized, external
engineering or consultant fees that support city operations and initiatives, which aligns with
the goals of the downtown parking study; and
WHEREAS, on October 13, 2026, the Prior Lake City Council considered city staff’s recommendation to
transfer $9,000 from 2026 Community Development Professional Services – General (101-
41910.00-53100.80) to 2026 EDA Professional Services – General (240-46500.00-
53100.80).
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA
1. The recitals set forth above are incorporated herein.
2. A transfer of $9,000 from 2026 Community Development Professional Services – General (101-
41910.00-53100.80) to 2026 EDA Professional Services – General (240-46500.00-53100.80) is
authorized.
th
Passed and adopted by the Prior Lake City Council this 13 day of October 2026.
VOTE Briggs Braid Churchilll Lake Hellier
Aye
☐ ☐ ☐ ☐ ☐
Nay
☐ ☐ ☐ ☐ ☐
Abstain
☐ ☐ ☐ ☐ ☐
Absent
☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager