7. EDSR 05-13-2013 Elk REQUEST FOR ACTION
River
To ITEM NUMBER
Economic Development Authority 7.
AGENDA SECTION MEETING DATE PREPARED BY
May 13, 2013 Brian Beeman, Economic
Development Director
ITEM DESCRIPTION REVIEWED By
Approve budget amendment and Authorize Brian Beeman, Jeremy Barnhart, DDCOD
Director of Economic Development, to attend a National REVIEWED BY
Development Council Training Course Cal Portner, City Administrator
ACTION REQUESTED
1) Approve a budget amendment to transfer funds in the amount of$3,500 from EDA salaries to
schools &training
2) Authorize Brian Beeman,Director of Economic Development, to attend a National Development
Council Training Course
BACKGROUND/DISCUSSION
Staff is requesting that Brian Beeman, Economic Development Director be authorized to attend one
2013 National Development Council (NDC) training course-Economic Development Finance which,
offers intense,rigorous courses focused on finance for economic development professionals. Each
course covers as many hours as an average college class, and culminates in a final examination. Courses
teach crucial economic development finance skills.
The course is part of a four-course Economic Development Finance Professional certification.
Information about the course is attached. Economic development finance is an essential function of the
Director position. Job duties such as develop strategies for the allocation and delivery of City financial
assistance including tax increment financing, tax abatement,industrial revenue bonds, community
development block grants and applicable federal, state, and local programs for commercial,industrial,
housing projects and the City's revolving loan fund,performs financial administration activities,
knowledge of public and private financing techniques for economic development, course work in
economics,marketing and finance, administering the micro-loan fund, assisting prospective clients
through the development process and marketing financing programs, all rely heavily on knowledge of
economic development financing. The NDC coursework will help Mr. Beeman establish a better
understanding of all of these topics. The Economic Development Finance course will take place from
September 9 to 13, 2013.
Following the completion of this course, the National Development Council requires three more courses
in order to certify Mr. Beeman as an Economic Development Finance Professional. The remaining
courses will be completed in 2014 and included in the budget. In the past several years, the EDA has
sent Clay Wilfahrt and Annie Deckert to this Training.
PT AVE REI If
N
In order for Mr. Beeman to attend the certification course, an administrative transfer is required within
the EDA budget.
Attached,is the Revision Request Form to transfer the EDA salary savings to the Schools &training line
item. Because there wasn't an Economic Development Director for a few months in 2013, the City saved
$15,500. 40% or$6,200 of this amount is from the HRA and 60% or$9,300 is from the EDA. Staff
proposes shifting 3,500 from salaries to EDA Schools &Training section. Staff is comfortable that the
amount of$3,500 will cover the cost of tuition, air-fare,meals,parking, etc. for attendance in September.
FINANCIAL IMPACT
The transfer will not increase the EDA budget.
ATTACHMENTS
• Cost Outline
• Class Descriptions
• Revision Request Form
Action Motion by Second by Vote
Follow Up
National Development Council
ED101-Economic Development Finance Course
The cost of tuition is: $1,125
plus air-fare of$431
plus hotel $722.31
plus a week of meals $216
plus parking$78
plus incidental/taxes/etc. $120
Total =$2,692.31
Event Details Page 1 of 1
ATIONAL DEVELOPMENT COUNCIL 11^ Search on tile,desc Seaicfi-
1240 HMalld
Home Overview Training Projects Services Contact Blog Join us at tat
Enroll Now! Classes
ED101-Economic Development Finance A to Z Index,
Economic Development
Fees 51,250.00 Finance,
Housing Development Finance,
Professional Development•,
Description
Participants in ED101,the first course in the EDFP Certification Program",gain a solid understanding of both the basic tools and newest — —
techniques used by successful economic development fmance practitioners to assist small businesses and create jobs.The course explores
economic development activities as part of a community's overall economic development finance strategy and investigates the financing NDC Training Brochure
resources available for job creation projects.Participants analyze and structure economic development projects for small and medium-sized g ,
businesses as well as commercial real estate developments utilizing incentive financing packages.Specific topics include: Download the most current
• Economic Development Finance Overview Training Brochure for complete
• Financing gaps in the private capital markets course descriptions and the latest
• Underwriting practices of private sector lenders training schedule.
• Plugging the gaps with economic development financing incentives
• Implementing financing programs through an economic development system VIEW BROCHURE,
• Business Credit Analysis
• Financial statement spreading and analysis
• Quality indicators and ratio analysis NDC Training Comes to You,
• Calculating debt service
• Fixed Asset Financing Bring NDC training to your
• Measuring repayment ability community.E-mail us for
• Structuring incentive financing information.
• Real Estate Finance
• Developer's pro forma income and expense statement --- --°—
• Measuring return on investment Training Newsletter,,
• Calculating the financing gap
• Economic Development Finance Programs Get the scoop on new NDC
• SBA 504 and 7(a) training courses,special tuition
• HUD CDBG and 108 discounts and advance notice of
• New Markets Tax Credits NOC's new on-line training
• Revolving loan funds and interim financing courses.
• Loan packaging procedures
Additional Information
Professional Certification,
For your convenience,you may use the link below to make your hotel reservations for this class.
The gold standard in economic
• w ,r.• •.•m - n. • r-.�. • c-7i.=__'t_. I. :k- _.- and housing development finance
training,NDC's certification
Prerequisites • programs impart the skills needed
None to get deals done with real-world
examples and instructors who do
what they teach.
Details
Back
begins Monday,September 09,2013
meets on:
Monday,08:00 AM-05:00 PM
Tuesday,08:00 AM-05:00 PM
Wednesday,08:00 AM-05:00 PM
Thursday,08:00 AM-05:00 PM
Friday,08:00 AM-05:00 PM
Located in:Los Angeles CA,Westin Bonaventure
Enroll Now!
r
Subscribe to Newsletter Go
Documents I Investor Login I About Us I Terms of Use I Privacy Policy I Sitemap I Staff Login I NSP TA Login
m 2012 National Development Council,All Rights Reserved
New York Office:708 Third Avenue,Suite 710,New York,NY 100171 Phone:212.682-1106
Training Division:927 Dudley Road,Edgewood,KY 41017 I Phone:859-578-4850
http://register.asapconnected.com/EventDetail.aspx?pk=171042 4/19/2013
CITY OF ELK RIVER
Budget Revision Request
2013 Revised Budget Amendment Form
Department: Economic Development
i ..
Current
Department& Amount New Amount Increase or
Acct# Budget Year Budgeted •Requesting (Decrease) Explanation
920-6210-4101 2013 211,200 207,700 (3,500) Transfer for NDC training-Beeman
920-6210-4331 2013 12,800 16,300 3,500 NDC training-Beeman
1`(1:•4:1..:r'i,�.•, .. -
I
t
Requested by �/ ��„ % 30
1.14' Date
Approved by:
City Administrator Date
: ...4-v.0;44.4.;
r � ..
4, A i
Finance use
PR. JURAB6144 -
•