Economic Development Authority (EDA)

Fiscal Year 2023

Department Overview

To promote economic development with the city in the forms of new development, redevelopment, workforces and overall growth of the City.


Accomplishments

  • Approved Tax Increment Financing for CDI for a 200,000 square foot manufacturing facility.
  • Assisted KAMP Automation with a $800,000 DEED JCF Application, $140,000 DEED MIF package and TIF for approved 50,000 manufacturing facility.
  • Approved a development agreement for the sale of the former Bubba's building for a future wine lounge.
  • Expanded the EDA forgivable loan program.
  • Completion of the Marriot Courtyard Hotel downtown and the streetscape project.

Goals

  • Continue to usage of the EDA forgivable loan program.
  • Begin construction of Riverfront Project.
  • Continue efforts to fill vacant commercial buildings including city owned properties.
  • Continue efforts to recruit commercial and industrial businesses.
  • Work with OPED on priorities for economic development.

Financial Information

Revenues

Expenses

Staffing Analysis

There are no FTE dedicated to this department. A portion of the wages from the Planning & Zoning department are allocated to this budget.