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Apprnc d C. 2901 Highway 10 • Coordinator Parrish updated the Commission regarding the status of 2901 Highway 10, or the former gas station property. He announced that the Economic Development Authority authorized the provision of demolition assistance and that it is anticipated that the property will be demolished sometime next week. D. Tax Increment Finance Policy Update Coordinator Parrish indicated that the Economic Development Authority passed the tax increment finance policy recommended by the Commission with a couple of slight modifications. E. Walgreens Director Rick Jopke updated the Commission on the upcoming Walgreens' development. He indicated that the proposal was going to be considered at the July 51h, 2000 meeting of the Planning Commission. He reaffirmed that a Walgreens and Culvers restaurant are still planned for the property. He also reiterated the terms of the land exchange between the city and the developer. F. Mermaid Hotel and Banquet Center Coordinator Parrish apprised the Commission on the status of the Mermaid's request for tax increment finance assistance. He indicated that the Economic Development Authority has given preliminary approval to the request, and that the city's consultants are currently in the • process of drafting development agreement and the necessary amendments to the tax increment finance plan. Once the appropriate agreements and amendments have been drafted, the Economic Development Authority will give final consideration to the proposal. G. Council Manager Form of Government Director Jopke gave a brief overview of the City Council's consideration of a council- manager form of government. Director Jopke stated that the primary difference the proposed form of government and the existing form of government is the role of the city council. He indicated that under a city manager form of government, the Council would take more of a policy making role in city affairs with administrative matters being left to a city manager. Commissioner Belting inquired about the form of government other communities used, particularly in the metropolitan area. Director Jopke indicated that the City has gotten this information and it could be provided at a later date. H. Charter Commission Resolution 2000-09 Coordinator Parrish indicated that Charter Commission Resolution 2000-09 has been provided to the Commission since it relates to the use of tax increment finance in Mounds View. 6. EDC BUSINESS A. Tax Abatement Finance Policy Coordinator Parrish provided an overview of tax abatement and its potential use in Mounds • View. He discussed the public interest requirements prerequisite to granting an abatement, the potential uses of abatement, abatement compared to tax increment financing, and abatement's capacity to generate revenue. N:\DATA\GROUPSTCONDEVTDC\Minutes\Min00\06-22-00.doc