HomeMy WebLinkAbout2016-08-09 PACKET 04.02.
TO:
Economic Development Authority
FROM:
Christine Costello, Economic Development Director
DATE:
August 1, 2016
RE:
Proposed EDA 2017 Budget
Background/Discussion
As a requirement of the City of Cottage Grove’s Economic Development Authority (EDA) Bylaws
the board is to review the EDA’s budget before it is submitted to the City Council for review and
approval.
There were a few changes made to the proposed 2017 budget that are important to highlight for
your review.
Program 1135 – EDA
Personal Services
You will note there was a reduction in salaries for this fund. In previous years the City
Administrator’s salary was taken from multiple budgets, moving forward the Finance Director
has kept the salaries defined to the department they are within. So the City Administrator’s
salary now completely falls under Administration, while Economic Development (ED) salary now
reflects the ED Director and ED Assistant positions.
Advertising and Publishing
As part of the City Strategic Plan a goal is to increase business growth in the City of Cottage
Grove. The City has numerous community assets and is home to many prominent companies
that needs to be shared with the region’s broker community and site selectors. Through
advertising and marketing of the community we will be able to put the City in the forefront of
corporate decision makers and demonstrate Cottage Grove’s commitment to business
development. Work that will be done will include:
City Advertisement in the Economic Development Association of MN website, newsletter, and
directory;
Continue advertisement in the DEED magazine;
Updating the ED folder; and
Updating four retractable banners and removing the “Growth Partners” logo.
Program 1140 – BEC
There were no budget additions. The budget was reduced in areas related to professional
services, printing, maintenance, and cleaning.
Council Action
The City Council will review and consider approval of the proposed budget at their August 10th
meeting.