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EDC Minutes March 19, 2004 Not Approved Page 2 • D. Report of Staff: 1. Everest Development Request for Supplemental TIF Payments for Building N Project: Backman noted that the EDC had discussed the supplemental TIF request at its February meeting. The EDC took a position that was not supportive of the supplemental TIF request. Backman prepared a memo for the February 23, 2004 EDA meeting. Shortly before the meeting was to begin Everest Development asked to have the request tabled. 2. PUD Amendment to Allow Religious Institution as a Permitted Use for Building N in M.V. Business Park (Bethlehem Baptist Church): Backman distributed a copy of the Purchase Agreement between Michael Investment and Bethlehem Baptist Church. The purchase is contingent upon the City approving an amendment to the PUD to allow a religious organization to be located in the Mounds View Business Park. The proposed transaction raises a number of issues of a tax-exempt church locating in a commercial/industrial area and due to the building being developed with TIF financing in mind. The available TIF increment for the developer this past year was$47,000,with another 10 years left on the TIF Note. Backman has been looking for other examples of Payment in Lieu of Taxes (PILOT) Agreements. Aside from the one church in Brooklyn Park, they do appear to be quite rare. Backman has communicated to Bethlehem Baptist that the City Council will not likely approve their PUD request unless there is a financial arrangement to offset some of the financial losses associated property taxes. On March 17th the Planning Commission recommended approval of the amendment to permit the church on the basis of use. Backman distributed to the EDC commissioners a memo prepared by Mary Ippel from Briggs& Morgan, our TIF legal advisors. Ms. Ippel recommended that both the Development Agreement and the TIF Note be terminated. Such a termination releases Michael investments from obligations under the Development Agreement. 3. Preliminary Plat Activities Activities—Velmeir Companies (Amoco Site): Representatives from Velmeir(Steve Alexander& Jim LaValle) and Loucks (Susan Fussell) met with Mayor Linke, Jim Ericson, and Kristin Prososki on March 17, 2004. Most of the discussion focused on planning application deadlines. The project involves development review, major subdivision, and rezoning. Velmeir wishes to submit applications by early April. 4. Purchase & Redevelopment Agreement between the City of Mounds View and Pro Craft Homes (Woods of Mounds View/Hidden Hollow): Backman indicated that a name change has occurred with the project. It will now be called Hidden Hollow instead of The Woods of Mounds View. In light of the signed Purchase Agreement with the Fyksens, the Pro Craft team is going with Plan B. To move the project along, Backman presented to the City Council on March 9th the need to acquire Lot 36 from Ramsey County. This was approved and a check for $68,901.14 sent to Ramsey. Backman distributed two documents: Purchase and Redevelopment Agreement (transfers land to Pro Craft), and The Woods of Mounds View Developers Agreement (delineates the responsibilities of each party). 5. Metro North CVB—Executive Search Process: Dick Haskett is the Interim Director of the CVB as the search process continues for the new director. The Search Committee met on February 23rd to review and rank all applications. Most of the 25 applicants were from outside of Minnesota. The Committee members sought candidates with CVB management experience, especially those that had multiple community CVB's. Telephone interviews were conducted on March 1st and 3rd with seven candidates. Face-to-face interviews are being conducted this week and next.