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Not Approved <br /> rov d <br /> After an overview, a preliminary tax abatement finance policy and application was submitted <br /> • <br /> to the Commission for their review. Coordinator Parrish provided a summation of the policy's <br /> components. With regard to Section IV, Policies for the Use of Tax Abatement, <br /> Commissioner Carlson suggested that a 20% equity investment might be more appropriate <br /> than a 20 percent"cash" equity investment under letter b. Also with regard to Section IV, <br /> Policies for the Use of Tax Abatement, Commissioner Field suggested adding "as <br /> established by a licensed appraiser"to letter c. <br /> Coordinator Parrish suggested two additional changes. First, under Section V. Project <br /> Qualifications, he suggested public infrastructure be incorporated. This was agreeable to the <br /> Commission. Second, under Section VIII, letter"E"he suggested that"To be returned upon <br /> project completion"be omitted from the application fee component. <br /> With regard to the evaluation tool contained within Section X, Commissioner Carlson <br /> suggested that some additional criteria be incorporated to account things such as exterior <br /> improvements and other intangible criteria. It was agreed that additional items would be <br /> incorporated into the bonus points component of the evaluation tool. After additional <br /> discussion, it was agreed that Coordinator Parrish would make the aforementioned changes <br /> and present the policy for final consideration at the next Commission meeting. <br /> 8. Adjournment <br /> There being no further business before the Commission, this meeting of the Economic <br /> Development Commission adjourned at 8:50 a.m. <br /> Respectfully Submitted, <br /> • <br /> Aaron Parrish <br /> Economic Development Coordinator <br /> • <br /> N:\DATA\GROUP S\ECONDE V\EDC\Minutes\Min00\06-22-00.doc <br />