In 1997, the Waseca City Council created the Economic Development Authority (EDA) to implement and oversee the City's economic development functions. Their role is to make recommendations on economic development programs, policies, and procedures; and serve as an advocate for maintaining and expanding the economic health and vitality of the community and surrounding region.
Examples of development initiatives that the EDA participates in include the following:
- Purchasing, managing, and selling property for economic development
- Authorizing and managing Tax Increment Financing (TIF) districts
- Securing development grants
- Creating and managing revolving loan funds (Intermediary Relending Program & Rural Business Enterprise Grant)
- Advising on tax abatement applications, TIF districts, and economic development policies and procedures
- Supporting community marketing activities
- Retaining current businesses and promoting new business growth
The City of Waseca and the EDA have a long history of collaboration
with other public and private entities such as Waseca County,
the MN Dept. of Employment & Economic Development,
the Southern MN Initiative Foundation,
and the USDA - Rural Development.
The EDA is composed of seven (7) members: five (5) at-large and two (2) Council members. Members serve a 6-year term and meet the 2nd Wednesday of every month at 12:00pm.
For further information about the Waseca EDA, please contact Gary Sandholm.