8.2 EDSR 04-17-2017Request for Action
ToItem Number
Economic Development Authority8.2
Agenda Section Meeting DatePrepared by
Work SessionApril 17, 2017Amanda Othoudt, EDD
Item Description
Reviewed by
EDA Finance CommitteeCal Portner, City Administrator
Reviewed by
Action Requested
Discuss potential changes to the EDA Finance Committee.
Background/Discussion
At their March 3 meeting, the Housing and Redevelopment Authority discussed establishing an HR
Finance Committee to review all financial applications of the HRA.
Over the past two years, the HRA has developed two new financialrecently received
applications for housing TIF assistance and redevelopment TIF assistance. Under theall
HRA applications are reviewed by the HRA for recommendation to t
The HRA is seeking a more in depth review of their financial app-
committee. Economies of Scale could be attained by utilizing the EDA Financ
financial applications and provide a recommendation to the appropriate board. The HRA has directed
staff to discuss this option with the EDA.
The Finance Committee consists of 8 members, two EDA members and at large members representing
various disciplines. Current members are:
EDA: Dan TveiteLaw: Open
EDA: Bryan ProvoReal Estate: Ryan Hardin
Banking: Chad Vitzthum At Large: Larry Toth
Banking: Nate Ovall At Large: Jim Gromberg
Currently, two HRA members already sit on the Committee. Changes to the EDA bylaws couldbe made
to establish a joint committee which advises both boards. Changes t the bylaws could reflect the
appointment of two members of the EDA and two members of the HRA
Each board would be responsible for appointingtwoof their members to the Finance Committee. The
EDA Finance Committee could be generally renamed to Finance Committee.
Financial Impact
None
Attachments
None