EDA approves 2013 Capital grant
NEW ULM – The New Ulm Economic Development Authority accepted the $50,556 2013 Capital Fund Program grant from HUD on Tuesday at City Hall. The grant will be used for roof replacements at Broadway Haus and radon mitigation in EDA family units. Installing security cameras in the Broadway Haus was discussed, but the project is still in the preliminary phase. The EDA will now submit an amendment to HUD on the use of grant funds to reflect 2013’s projects.
EDA also adopted its 2014 draft budget. The EDA’s property tax levy portion is expected to remain at the 2013 levels of $117,000. Total budget revenues for housing administration will increase by $371 to $67,828, and the total budget expenditures will increase an equal amount to also be $67,828. The budget covers the EDA day-to-day operation costs and any marketing or development projects.
For the Affordable Housing Subdivision budget, which covers things like the Milford Heights Subdivision, the revenues will increase $1,700 to $80,277 and expenditures will decrease $700 to $97,979.
Housing Coordinator Heather Bregel said the budget was kept steady as part of the City’s efforts to keep department budgets flat in anticipation of funding constraints in 2014.