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<br /> <br />M:\MasterFiles\EDC Minutes-Resolutions\EDC Minutes\2000\09-28-00.doc <br />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 /> <br />C. Walgreens Approval <br /> <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 /> <br />D. Mermaid TIF Assistance and Development Review <br /> <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 /> <br />6. EDC BUSINESS <br /> <br />A. Annual Parcel Decertification <br /> <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 />existing TIF districts, the following motion was made: <br /> <br />Motion/Second: Johnson / Carlson moved not to decertify any parcels from existing TIF districts. <br /> <br />Motion Carried: 7 Ayes 0 Nays <br /> <br />B. Pooled Funds Budgetary Recommendation <br /> <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 /> <br />Account Description Program Proposed <br />Expenditure <br />7050 Capital / Real Estate Highway 10 Construction Improvements $50,000 <br />7050 Capital / Real Estate Housing Rehab Program $160,000 <br />7060 Business Loans Business Improvement Partnership Loans $25,000 <br />TOTAL $235,000 <br /> <br />After reviewing the budget prepared by staff, the following motion was made: <br /> <br />Motion/Second: Carlson/Goff moved to recommend the budget as presented to the EDA <br /> <br />Motion Carried: 7 Ayes 0 Nays <br /> <br />C. Additional Agenda Items <br />