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Lakeville councilors ask staff to 'explore' EDA and levy rather than commit to implementation
Summary
City staff presented a four-year economic development plan that includes creating an Economic Development Authority (EDA) and an EDA levy; council members asked staff to soften language to 'explore' the EDA/levy idea, involve the finance committee early, and clarify timelines and priorities before any levy decision.
City staff presented a five-goal economic development strategy and a menu of financing tools — including tax increment finance (TIF), revolving loan funds and housing/EDA levies — and recommended the Business Retention and Expansion (BRE) outreach program as the first implementation step.
Speaker 1 (city staff) said the plan includes success measures after each goal, that the BRE/VRE program will roll out this winter to survey local businesses,…
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