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MINUTES <br />City Council <br />May 12, 19II7 <br />Fahey felt that staffing services on an hourly basis would be <br />preferable as he was not sure of the amount of services that <br />would be necessary. <br />Maroney pointed out that his firm assists in the overall structure <br />of financial packages for development. Maroney also pointed out <br />that the businesses receiving these services also pay Dusiness <br />Development Services' fees in this regard. <br />Maroney also explained in detail the marketing efforts that they <br />have made in the past for other communities as well as follow-up <br />telemarketing campaigns. <br />Fahey asked if the firm had worked with cities that had not established <br />communit,y development corporations, but needed more prospecting of <br />clients and financial packaging for developers. <br />Maroney replied that they had, however, these cities had their own <br />economic development staff person, and needed professional assistance <br />in marketing and telemarketing. <br />The Council and P4aroney also discussed tax increment financing and <br />the reserving of tax increment funds for economic development <br />prospecting in other areas of the City. <br />Fasciana questioned the need for an economir development corporation <br />given the proximity of Little Canada to St. Paul. Fasciana felt <br />that the City needed prospecting. <br />Maroney also pointed out that redevelopment is equally important <br />to the City as the development of vacant property. <br />fahey felt that if redevelopment is done, then an economic <br />development corporation should be established, but at this point <br />the City needed prospecting and to give some assistance to the <br />developers in the Centerville Road area. <br />Maroney reported that if the City has a prospecting program, it should <br />have someone to refer prospects to, some type of economic development <br />professional who could handle this area. <br />Fahey suggested that Business Development Services could provide this <br />on an hourly basis. <br />Collova and Blesener pointed out that surrounding cities that have <br />economic development corporations also have a lot of vacant property <br />available for development. Fasciana pointed out that these cities <br />are also located further away from St. Paul. <br />Maroney stated that the City should determine how it wants its vacant <br />property to develop or existing development to redevelop. Maroney <br />pointed out that the City can direct the type of development that <br />will occur. <br />Page -8- <br />