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EDC Minutes February 1, 2002 Page 3 Aper®M,ad 6. Minneapolis Metro North CVB Annual Meeting: The Minneapolis Metro North Convention& Visitors Bureau promotes economic growth for its north metro members as a preferred destination for events, meetings,and tourism. Funding for the Bureau's operation is derived from a 3% lodging tax assessed by hotels on rooms. Mounds View is the newest member of the CVB, joining Anoka, Blaine, Brooklyn Center, Brooklyn Park, Coon Rapids, Fridley, Maple Grove and Shoreview. Backman attended the Metro No. CVB's annual meeting on January 13th and represents the City on the Board. 7. 2002 Public Finance Seminar: Backman will be attending a public finance seminar focusing on Tax Increment Financing (TIF)put on by Ehlers&Associates at the Earl Brown Center in Brooklyn Park on February 7th & 8th. Chairperson Belting requested that it would be beneficial for the Commission to receive information regarding TIF. 7. EDC BUSINESS A. Consideration of Resolution 01-EDC-33 setting the 2002 Meeting Schedule: Backman raised the subject of meeting dates and times,and whether the Commission would prefer to keep meeting on the third Friday of each month at 7:30 a.m. All indicated that the present meeting schedule was satisfactory. Commissioner Johnson moved to approve the proposed 2002 meeting schedule, with the February meeting occurring on February 1st instead of the February 15th Seconded by Commissioner McDonald. Motion Carried: 6 Ayes 0 Nays B. TIF District Developer Payment Issues: On a semiannual basis (2/1 & 8/1)the City makes TIF payments to developers who have developed properties for industrial, commercial & housing projects. Currently we are making payments for the following projects: C.G. Hill, Building N, Silver Lake Pointe, Midwest I.V., and Zep Manufacturing. In reviewing the Development Assistance Agreements, Backman noticed some apparent discrepancies in what was paid and what should have been paid. Two of the payments (Bridges Leasing Co. for Midwest I.V., and Kenmark Partnership for Zep Manuf.)were determined to be appropriate and were authorized by the City. The other three are being reviewed. More complete information regarding these payments will be provided for the March EDC meeting. C. Developer/Business Meetings: Backman spoke of his priority to meet with the businesses in the community. Within the current economic climate some sectors have been doing better than others. He mentioned several businesses that he has toured and met with management. D. Discuss Disetronic Medical Systems Retention: Backman indicated that this medical device company located in Bldg. N is a business to keep an eye on. It has grown from 25+employees to over 120 during the past three years. It is close to running out of space, however, it has not been able to come to terms with the building owner to expand into more of the building or to purchase the building. Backman has met with Disetronic officials and representatives of Everest Development. Chairperson Belting appreciated Backman's efforts. He indicated that the EDC needs to be proactive on businesses like this and that we should be ready to do retention visits or other steps to keep the business growing in Mounds View. Commissioner Field pointed out the need for clear communication between the City (EDA) and the EDC on projects and issues.