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<br /> <br />M:\MasterFiles\EDC Minutes-Resolutions\EDC Minutes\2000\06-22-00.doc <br />After an overview, a preliminary tax abatement finance policy and application was submitted <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 /> <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 com pletion” be omitted from the application fee component. <br /> <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 /> <br /> <br />8. Adjournment <br /> <br />There being no further business before the Commission, this meeting of the Economic <br />Development Commission adjourned at 8:50 a.m. <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Aaron Parrish <br />Economic Development Coordinator <br />