All right.

Let's call to order the Tuesday, September 2nd, 2025, meeting of the Shacopee Economic Development Authority.

Please make note of the role.

Next on the item on the agenda is our approval of the agenda.

We get a motion.

Make a motion to approve the EDA agenda.

Motion by Contreras.

Second.

Second by Delaney.

Any discussion, discussion, discussion.

All those in favor say aye.

Aye.

Any opposed?

Motion carries.

All right, we have an agenda.

We're moving on to item 3A, the 2026 EDA levy.

Mr.

Reinhardt.

Yeah, good evening, President and Commissioners.

Tonight we have our tonight we'll be asking for EDA consideration of the proposed 2026 EDA tax levy.

If approved tonight, the levy and budget will be forwarded to City Council for their approval on the September 16th City Council meeting.

So the EDA levy is subject to a percentage of uh city's estimated market value.

Uh that cap for 2026 is a little over 1.5 million.

Uh the levy being proposed tonight is well within that cap.

Uh the EDA levy levy differs slightly from the general fund levy in that it gets applied to all taxable properties within the city.

That would include properties uh within a tax abatement or TIFF plan.

Uh the EDA's levy is also identified separately in the property tax statements uh outside uh of the city's general uh property tax.

I know that question came up at the last meeting.

Um it's in it's not within the city levy, it's actually um at one point it was separated out and uh specifically identified as the EDA levy, uh but in the last couple of years it looks like the county has included it with the other special taxing districts, so it's that included in that line add in there.

Uh the EDA levy is specifically designated for economic development activities, uh and then any uh funds unspent from year to year would be carried over uh for that uh purpose.

And then for the River River City Center, uh the EDA is responsible for the business tenants on the main level uh and the CDA continues to be the manager of the senior departments on the second level.

Uh that activity, uh which includes the lease revenue expenditures, uh, we have that accounted for as a separate subfund of the EDA.

So I'll touch base on that as well.

Uh so starting with the revenue side, so I'll have one slide on revenues and one slide.

Uh staff is proposing an increase in the EDA levy of 50,000 for a total of 550,000.

Uh additional funding is provided through uh contribution of half a percent of revenues from the Shockabi Public Utilities Commission.

Uh we anticipate that contribution amount to be 335,000 for 2026.

Uh 20,000 for the social district licenses and cup sales, and then 24,000 for admissions related to the TAP event.

Uh for the medium value home that equals uh out to about 21 dollars a year.

Uh so it's about two dollars more uh than last year.

Uh on the expenditure side, um so operating expenses include wages and benefits, uh, which includes the economic development coordinator and then 50% of the planning and development director.

Uh legal services, planning services, and professional services.

Uh within professional services would be the facade loan program, entrepreneurship programming, uh main street, tap event, and and marketing.

Uh staff is proposing a new uh annual transfer of 50,000 of the city's general fund.

The EDA does receive uh admin support from the general fund um operations, including uh city council of finance, IT communications, uh HR, um, etc.

So from a financial standpoint, uh the administration allocation would better reflect that full cost of EDA operations.

Uh this is similar to how we handle uh the water in the storm stormwater utilities.

They also have an annual transfer, so um to how that that's handled.

Uh the EDA budget also includes uh 75,000 for the installation of a level three charger at Quarry Lake.

Uh XL Energy would be uh paying for the majority of that installation costs.

Uh moving on to River River Center Center, which again um we um showing the budget separate, but it is a subfund of the EDA, so when we get to the end of the year, uh it's reported as part of the EDA.

Um but we have budgeted 400,000 on lease revenues.

Uh this of course is our best estimate.

Um it'll be impacted by any uh renewals and tenant turnover.

Uh we do have one lease that that's expiring um at the end of June.

Uh so we did increase the building maintenance uh line item, assuming there might be some work to get that uh space ready to be leased.

Uh improvements uh also include uh the replacement of the original um roof.

Uh this would be shared uh 50-50 with the CDA.

Uh we've estimated 400,000 as our share.

Uh and then uh the CDA would be the lead on that project, completing the plans, plans and bidding um for that um roof replacement.