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Brainerd Lakes Area <br /> ECONOMIC DEVELOPMENT <br /> Corporation <br /> lune 2019 <br /> Re: BLAEDC 2020 Funding Support <br /> Dear Mayor Tayloe, <br /> As you know, BLAEDC has been exploring options to restructure and sustain funding for the organization to provide <br /> economic development services within the City of Pequot Lakes and all of Crow Wing County. This past year we held <br /> several Informational Sessions to share: <br /> • BLAEDC's history, <br /> • the traditional economic development services we provide, <br /> • new programming developed including our workforce programs and the BLAEDC Unified Fund, and <br /> • our need to have widespread support by all. <br /> Based on the impact of our work and the need to have a professional economic development organization serving Crow <br /> Wing County,the BLAEDC board of directors is focused on the following: <br /> 1. Enhanced government funding needs to increase. BLAEDC's funding from government is a critical <br /> component of our annual budget. We have identified a 3-year goal to increase government funding <br /> from $216,625 to $250,000 by 2022 to eliminate negative budgets and retain our professional staff. <br /> 2. Private sector business membership is a priority. In the last few years we have increased contributions <br /> by nearly 60% to $135,000 annually. We have a 3-year plan to continue securing private sector <br /> contributions, and hopefully reach $150,000-$200,000 by 2022. <br /> 3. New economic development programs, including our KEY Recruitment Program and the BLAEDC <br /> Unified Fund, have been positive for BLAEDC and the business community and need to continue. We <br /> plan to fine-tune and operate programs that witl provide critical services and generate revenue that will <br /> help to alleviate long term funding increases needed from you. <br /> 4. Other opportunities are being explored by BLAEDC staff to continue bringing robust economic <br /> development programs to our community including entrepreneurial initiatives and succession planning. <br /> As a result,we are asking the City of Pequot Lakes to consider a three-year funding commitment as follows: <br /> Current Year 2019-$8,500 <br /> Year 2020-$10,000 <br /> Year 2021-$10,300 <br /> Year 2022 -$10,600 <br /> Please advise if you would like BLAEDC representatives to meet with you to discuss our funding request. Your support <br /> and commitment to BLAEDC and economic development is sincerely appreciated. <br /> Attached: BLAEDC 2018 Report <br /> 224 West Washmgton St Brainerd, MN 56401 —www growbrainerdlakes org—Phone 218 828 0096 <br /> Serv�ng Crow Wing County and all its commun�6es <br />