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EDC Minutes <br />March 27, 2002 <br />Page 3 <br /> <br />Sports is considering relocating its production activities to a more suitable building closer to the <br />Twin Cities. Backman will keep the Commission informed about developments. <br /> <br />C. Business Prospects: Abbey Carpet, a floor covering business currently located in New Brighton, <br />is having to move its showroom. The owner of the store, John Kopas, has been in business for <br />29 years and has been looking for a visible location for a 10,000 sq. ft. showroom/warehouse <br />facility. Backman has provided Mr. Kopas information regarding sites along Highway 10. <br />Backman also discussed Minuteman Press and a building products/service company prospect. <br /> <br />D. TIF Cash Flow Analysis: Backman highlighted key points in a TIF cash flow analysis undertaken <br />by Ehlers & Assoc. There is a projected deficit for 2002. Interfund borrowing will likely be <br />necessary. The TIF Cash Flow information will be revised and presented to the City Council. <br /> <br />E. Ehlers Public Finance Seminar Info: Backman discussed TIF information garnered from the <br />Ehlers Seminar in February. He distributed to the members copies of the TIF fundamentals. <br />Field requested that the EDC receive the minutes from EDA meetings. Backman indicated he <br />would include the minutes. <br /> <br />8. ADJOURNMENT <br /> <br />There being no further business before the Commission, Chair Belting adjourned the March 27th <br />meeting of the Economic Development Commission at 9:02 a.m. <br /> <br /> <br /> Respectfully submitted, <br /> <br /> Aaron Backman <br />Economic Development Coordinator <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />N:\DATA\GROUPS\ECONDEV\EDC\Minutes\Min02\3-27-02.doc <br />