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AGENDA ITEM #10.4 <br /> ctry of <br /> Pequot <br /> Lakes! <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: February 4, 2020 <br /> Subiect: 2020 EDC Budget Revision <br /> Report: The Economic Development Commission (EDC), at their meeting <br /> held on January 21 St, is recommending a slight change to the 2020 General Fund — <br /> Economic Development Budget. Under the contract services budget line item, <br /> $10,700 is designated for housing redevelopment and marketing for the Small <br /> Cities Development Program grant. Since the City is no longer pursuing this grant <br /> due to insufficient interest, the EDC would like to re-designate the $10,700 for <br /> redevelopment and marketing. <br /> Council Action Requested: Council motion re-designating the 2020 General <br /> Fund— Economic Development Budget contract services amount of$10,700 for <br /> redevelopment and marketing. <br />