04/04/2002 EDAC Minutes - Laserfiche WebLink

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3 Chaska: the city council is the EDA Woodbury: the EDA is comprised of five citizens with finance backgrounds and two council members. One member is a Fortis representative, since Fortis participates financially in a revolving loan fund. All recommendations still go to the council for a vote. Cottage Grove: The EDA is comprised of residents, up to two business persons that are not residents, and two council members. The EDA acts as the contracting body, i.e., it approves the development agreements, but the city council approves the business subsidy, so the council has overriding authority. Shakopee: The council is the EDA. Ms. Schwartz indicated she believed that in Cambridge, Chisago City and Forest Lake, the citizens are the EDA. Mr. Chase stated he believes EDAC should remain advisory, and not be making decisions involving the city’s purse strings. He noted many issues go to the council before they come to EDAC. It doesn’t seem relevant for EDAC to respond when the council has already made up its mind. Timing can be a problem. Ms. Divine said many issues have plenty of opportunity for EDAC discussion. Mr. Chase stated EDAC can do more to be proactive. Ms. Divine noted that the EDAC plan calls for identifying areas for redevelopment as they occur. Changes are occurring on this portion of Lake Drive, and that is why redevelopment is being studied. Ms. Schwartz stated she would bring up the issue of EDAC becoming the EDA in the future. Ms. Divine stated that the council asked for an update of TIF districts, which she will share with EDAC next month. Ms. Schwartz questioned if any money from the TIF districts could go to EDAC to fund projects. Ms. Divine stated the money from the TIF districts benefited economic development, i.e., new businesses, and the purpose was to get businesses on the tax rolls. Ms. Carlson stated the five-year financial plan shows a deficit. Mr. Chase said EDAC hadn’t identified a need or a benefit for having funds to work with, and if EDAC did identify a reason for needing funding, then a request could go to the council to be considered. Mr. Gorowsky noted that TIF was a financial tool that has been used, and now the city will be seeing the rewards of that investment, which is a good thing, and helped us meet the mission statement. Ms. Divine stated it also helps long term stability, part of the mission. As businesses go on the tax rolls, the city can afford to look at new investment opportunities. Ms. Divine reviewed the EDAC goals and progress made toward creating the balance of commercial and residential. She asked Ms. Schwartz if she and Mr. Hicks could get an update at the next meeting regarding the Design Review Task Force. Ms. Carlson stated that the city’s five-year plan includes a city survey. Meeting adjourned.