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EDC Minutes January 16, 2004 Page 2 C. TCN Chamber of Commerce Update: Backman highlighted the Chamber’s new map that was received from the printer last week. On one side is a map of the whole Twin Cities area and on the other is a detailed map of the north metro area, including all member cities and adjacent communities. The Chamber did relocate its offices from Fridley to the Mounds View Community Center at the end of December. The new location provides more space for offices and meetings. The TCN Chamber sponsored a health care forum yesterday at the New Brighton FSC. It was well attended and had a panel of presenters, including providers, doctors, and consultants. Backman presented the EDC members with written information from the forum. The Chamber’s annual Gala will be held at the Mermaid on February 28th. It represents the Chamber’s largest fundraiser. The theme this year is “Tropics Galore in 2004”. D. Report of Staff: 1. Everest Development Request for Supplemental TIF Payments for Building N Project: Backman reviewed the history of Building N, the $1.2 million TIF Note with Michael Investments, and Tim Nelson’s request for Supplemental Increment from the City. The documentation that Backman has found appears to point to $108,000 in expected increment for the project, not the $150,000 a year as suggested by Mr. Nelson. The shortfall in TIF increment appears to be due to multiple reasons, including property tax rate changes, and significant vacancies in the building. Backman reviewed this request with Ehlers & Associates and they sent a memo that questioned this request. The bottom line is the current development agreement clearly places all the risk on the developer. The consensus of the EDC members was that approving such a request would set a precedent for the City of Mounds View and would encourage other developers with existing TIF notes to seek similar assistance. After lengthy discussion, Johnson made the following motion regarding Everest’s (Michael Investment’s) Supplemental TIF request: The Mounds View EDC does not recommend to the EDA approval of the proposed Supplementary TIF payments based on the documentation presented and reviewed by the EDC.” Seconded by Helgemoe. The motion passed 4 to 0. Backman mentioned that he had received a call from a CB Richard Ellis broker that indicated a church was interested in buying Building N. This use would require an amendment to the current PUD. 2. Developer Activities—Velmeir Companies (Amoco Site): Backman provided a copy of a letter sent by Ramsey County that assures access to County Highway 10 and Silver Lake Road to Velmeir. The Developer is still waiting for a final okay from BP Amoco. Field inquired about the Pac building. Backman replied that Glacier recently consolidated to St. Paul. That building is not directly part of this phase of redevelopment. 3. Developer Activities—Pro Craft Homes (Woods of Mounds View): In December the Pro Craft team made a presentation to the EDC. Due to the difficulties in finalizing purchase agreements with adjacent landowners, Pro Craft decided to present Plan C—a residential development located on just the City’s property. This reduces the number of single-family that can be developed to 10 homes. On January 12th the Pro Craft Team presented Plan C to the EDA. This week negotiations began anew between the Fyksens and Pro Craft Homes. 4. Mounds View Community Center—YMCA Room Policies: Backman has been dealing with several aspects of the Mounds View Community Center over the last four months, including the Banquet Center and renting out the former Community Education area. In an effort to have transparent, consistent and appropriate rates. Backman worked with Jeanette Steeves (the YMCA’s scheduling person) to develop two things—revised Room Policies and Room Rates. Backman and Steeves made a presentation at the City Council’s Work Session on