HomeMy WebLinkAbout12-11-2007 EDA MinutesEDA MINUTES December 11, 2017
APPROVED
1
DATE : December 11, 2017
TIME STARTED : 6:15 p.m.
TIME ENDED : 6:25 p.m.
MEMBERS PRESENT : EDA Members Kusterman, Reinert, Rafferty,
Maher, Manthey
MEMBERS ABSENT : None
OTHERS PRESENT: : Community Development Director Michael
Grochala; City Clerk Julie Bartell
The meeting was called to order at 6:15 p.m. by EDA President Rafferty.
CONSIDERATION OF THE MINUTES OF APRIL 10, 2017
Economic Development Authority (EDA) Member Kusterman moved to approve the April 10,
2017 minutes as presented. EDA Member Manthey seconded the motion. Motion carried on a
voice vote.
A. Consider Resolution No. 17-02, Approving Assignment of Contract for Private
Development and TIF Note - Community Development Director Grochala explained that the
Economic Development Authority previously authorized execution of private contract and tax
increment financing (TIF) actions with United Properties and Distribution Alternatives relative
to construction of the warehouse/distribution center in the city. He explained the use of tax
increment and the pay-as-you-go note associated with the increment, including the length of the
bond. The project is being purchased by another group. There will be no change in tenancy, just
a change in landlord. Staff is comfortable with the firm taking over the project. Staff is
requesting approval of an EDA resolution approving the assignment.
EDA Member Maher moved to approve Resolution No. 17-02 as presented. EDA Member
Manthey seconded the motion. Motion carried on a voice vote.
ADJOURNMENT
There being no further business for consideration, the meeting was adjourned at 6:25 p.m.