EDA Meeting Date: June 24, 2024
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Approve Updated Economic Development Authority Policies.
Body
The Northfield Economic Development Authority is being asked to approve a resolution to approve updates to Economic Development Authority policies.
Summary Report:
In an effort to standardize Council policy formats and to ensure all policies have an easily editable document, staff has reorganized and edited Council policies. Included among these policies were Economic Development Authority policies.
While working with existing policies, staff noticed that there were numerous formats being used, some had no true policy but were simply a Council staff report and related actions, many had outdated information, and very few had editable (Word) versions available. It was determined that it would be best for staff to completely retype and reformat all Council policies. Administration staff created a format, retyped all documents, reviewed and edited for basic changes such as replacing staff names with titles to minimize the need to update policies with staff turnover, and then handed off to the individual departments for further editing. Some policies had minor changes, while others did have more moderate changes. In addition, some policies were renumbered and shifted to different sections to allow for better organization.
The City Council approved the Council policies and reviewed board/commission specific policies at their May 21, 2024 meeting. Specific boards and commissions with policies included in the updates are now being asked to approve the updated document related to their board/commission.
Details of the changes made to each EDA policy are noted below:
9. Economic Development Authority (EDA)
* 9.01 Tax Increment Policy
Minor changes to process and formatting were made.
* 9.02 Tax Abatement Policy
Minor changes to process and formatting ...
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