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Hanover EDA approves preliminary 2026 budget and accepts financial reports
Summary
The City of Hanover Economic Development Authority approved its preliminary 2026 EDA budget and levy and accepted accounts payable and financial reports, with members noting all loan payments are current and a Hilltop loan has been issued.
The City of Hanover Economic Development Authority on Aug. 21 approved its preliminary 2026 EDA budget and levy and accepted the accounts payable and financial reports.
City Administrator Jennifer Nash presented the proposed 2026 budget and levy and noted priorities members identified for 2026, including expanded summaries of EDA work on an updated website and purchasing banners for the newly reconstructed commercial corridor. Nash also said staff will invite representatives from the Initiative Foundation and the Wright County Economic Development Partnership to brief the EDA on partnership opportunities.
Treasurer Jessica Johnson reviewed the EDA’s financial status, reporting all loan payments are current and that the Hilltop loan has been issued. Johnson said previously budgeted transfers from a prior fiscal year that had not been processed have now been completed. On a motion by Johnson, seconded by Ted Zrust, the board approved the 2026 Preliminary EDA Budget and Levy; the motion carried with all present voting in favor.
The board also approved the accounts payable and financial reports on a motion by Johnson, seconded by Zrust. The meeting minutes of July 17, 2025, and the agenda for the Aug. 21 meeting were approved earlier in the session by motions from Zrust, seconded by Johnson.
The meeting adjourned at 9:24 a.m. The board set a tentative next meeting date for Sept. 18 and agreed to reschedule the October meeting to Oct. 23 because of the school MEA week.
