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Commissioner Belting indicated that the Chamber will be sponsoring a "Business After <br /> • Hours"at Irondale High School on Thursday October 12, 2000. Commissioner Carlson <br /> discussed the goals and objectives of the event, and stated that this will kick off a fundraiser <br /> for Irondale High School to update equipment related to manufacturing careers. <br /> C. Walgreens Approval <br /> Coordinator Parrish told the Commission that Walgreens had been granted development <br /> stage approval of their PUD application. He indicated that once the PUD application <br /> received administrative approval and the final plat was finalized, the development could <br /> begin construction. <br /> D. Mermaid TIF Assistance and Development Review <br /> Coordinator Parrish updated the Commission on the current status of the Mermaid <br /> development. He indicated that the project would be reduced in scope due based on <br /> financial constraints. Based on plans submitted to the City, the hotel will be reduced from 96 <br /> to 70 rooms. Portions of the Banquet Center will be reduced as well. <br /> 6. EDC BUSINESS <br /> A. Annual Parcel Decertification <br /> Coordinator Parrish indicated that Mounds View's TIF policy requires an annual review of <br /> parcels that could potentially be decertified from existing TIF districts. The Commission <br /> discussed the fact that many potential projects, including Highway 10 redevelopment and <br /> safety improvements could be accomplished with TIF dollars. After reviewing parcels in the <br /> • <br /> existing TIF districts, the following motion was made: <br /> Motion/Second: Johnson /Carlson moved not to decertify any parcels from existing TIF districts. <br /> Motion Carried: 7 Ayes 0 Nays <br /> B. Pooled Funds Budgetary Recommendation <br /> Coordinator Parrish indicated that the recently adopted TIF Policy requires the EDC to <br /> evaluate the use of"pooled increment"on an annual basis. The following was presented as <br /> a preliminary budget: <br /> Account Description Program Proposed <br /> Expenditure <br /> 7050 Ca•ital / Real Estate Hi•hwa 10 Construction Im•rovements $50,000 <br /> 7050 Ca•ital / Real Estate Housing Rehab Program $160,000 <br /> 7060 Business Loans Business Im•rovement Partnership Loans $25,000 <br /> TOTAL $235,000 <br /> After reviewing the budget prepared by staff, the following motion was made: <br /> Motion/Second: Carlson/Goff moved to recommend the budget as presented to the EDA <br /> Motion Carried: 7 Ayes 0 Nays <br /> • C. Additional Agenda Items <br /> N:ADATA\GROUPS\ECONDEV\EDC\Minutes\Min00\09-28-00.doc <br />