Elk River EDA approves 2012 budget
The Elk River Economic Development Authority (EDA) has approved its 2012 budget, along with a supporting tax levy.
The budget will be $273,050, up from $259,050 last year, which will be achieved once again without any general fund revenues from the city of Elk River’s general fund.
The 0.01813 percent levy is the same as in previous years; however, the revenues generated by it have been estimated based on a 6 percent decrease in taxable market value. The EDA budget is also supported by interest income and Housing and Redevelopment Authority levy funds to cover administrative expenses the two entities share.
The budget was developed with the EDA’s goals in mind. The EDA includes plans to:
•expand the city’s inventory of available commercial and/or industrial park land for future development.
•continue to implement the Strategic Industrial Marketing Plan strategies with a focus on brokers/developers, medium–large light industrial users and business retention and expansion.
•identify desired image and create a branding plan that reflects the Elk River brand/image.