Economic Development Authority (EDA)
The Economic Development Authority (EDA) is a city-affiliated body focused on strategic economic development, including property acquisition and land use initiatives.
- Dec 10, 2024City Council · item 10aConsideration of a Memorandum of Agreement with the Economic Development Authority (EDA) for City Contribution of $5,000,000 to the EDA's Real Estate Resources Fund
The EDA received Council approval for a $5,000,000 conditional contribution MOA to its Real Estate Resources Fund to acquire strategic city properties.
passedMotion to approve a Memorandum of Agreement with the EDA for a city contribution of $5,000,000 to the EDA's Real Estate Resources Fund.✓ Bates✓ Doyle Feingold✓ Greenfield✕ Lim✓ Ross✓ Stehle
The EDA has been working with a consultant on an office-to-residential conversions study; the consultant was scheduled to present findings to the EDA on November 5, 2025.
In full
On December 10, 2024, the City Council approved a Memorandum of Agreement (MOA) authorizing a $5,000,000 conditional city contribution to the EDA's Real Estate Resources Fund, intended for the acquisition of strategically important city properties; the vote passed 5-1 with Council Member Lim opposed.
Separately, as of early November 2025, the EDA has been engaged in an office-to-residential conversions study in partnership with an outside consultant, with findings scheduled to be presented to the EDA on November 5, 2025.