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In 1987, the City of Chaska established its Economic Development Authority (EDA) to help address the city's need to proactively deal with economic development, housing and redevelopment issues within the city. The EDA was an offspring of the city's Housing and Redevelopment Authority, who until that time had served as the entity ensuring that there was not a shortage of safe and decent housing within the city. Key blighted properties were redeveloped into a use that would serve the entire public's best interest. The EDA took the responsibilities of the City's Housing and Redevelopment Authority, and added to their duties helping the development of new businesses and properties throughout the city.
While EDA is a separate entity from the City Council, the EDA's power is derived from the authority that the City Council bestows upon it. The EDA's membership is comprised of the members of the City Council.
The EDA is in existence not only to help promote new businesses within the city, but to also help retain and redevelop businesses already in existence within the city.
The goals of the EDA are to: