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EDC Minutes <br /> February 21, 2003 Not Approved <br /> Page 4 <br /> recruitment would be impacted. Belting asked about how quickly the County would agree to any <br /> • name change. Not known at this time. Backman stated that improved signage would be helpful <br /> for better access, especially from I-35W. Helgemoe remarked that Western Bank continually <br /> faces the issue of directing lost customers back to the right location. Chair Belting suggested <br /> that a meeting of all businesses/entities along Co. Highway 10 be held to seek their input <br /> regarding this issue. It could be a luncheon or something sponsored by the Chamber and City. <br /> The consensus of the Commission was that the idea had merit. At this point in the meeting, <br /> Chair Belting left the meeting for another obligation. Field took over the EDC meeting. <br /> B. Review of Mounds View's Tax Abatement Policy(Cont.from page 4). Backman briefly reviewed <br /> and contrasted Tax Increment Financing (TIF) and Tax Abatement. He denoted the changes <br /> agreed to through page four and noted the EDC's consensus to rename the City's Tax <br /> Abatement program to Tax Rebate Financing. New language in the draft document is <br /> underlined. Commission members then considered Section IV, Policies for the Use of TRF and <br /> Section V, Project Qualifications. The Commission briefly considered Section VI, Subsidy <br /> Agreement&Reporting Requirements on p. 6. The State of Minnesota requires that Cities adopt <br /> a Business Subsidy Policy. This separate document, referenced in Section VI, will need to be <br /> reviewed and updated by the EDC as well. Backman asked members to review the Application <br /> Review Worksheet on p. 16. <br /> C. Other: Helgemoe inquired about interest in the former Hardee's building. Backman encouraged <br /> Paster Enterprises to submit a proposal to Steve Sparks, the Culver's franchisee regarding the <br /> Hardee's facility. This was done and Mr. Sparks is reviewing the information. <br /> 41). ADJOURNMENT <br /> There being no further business before the Commission, Field adjourned the February 21st meeting of <br /> the Economic Development Commission at 9:10 a.m. <br /> Respectfully submitted, <br /> g. <br /> Aaron A. Backman <br /> Economic Development Coordinator <br /> Mtserver\CityHall1DATA\GROUPS\ECONDEV\EDC\Minutes\Min03\2-21-03.doc <br /> • <br />