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<br /> <br /> <br />Minutes of the Economic Development Commission <br />City of Mounds View <br />Ramsey County, Minnesota <br /> <br />Regular Meeting <br />April 21, 2006 <br />City of Mounds View, Council Chambers <br />2401 Highway 10, Mounds View, MN 55112 <br /> <br /> <br /> <br />1. CALL TO ORDER: <br /> <br /> Chairperson Torri Johnson called the meeting to order at 7:40 a.m. <br /> <br />2. ROLL CALL: <br /> <br /> Members Present: Jackie Entsminger, Tom Field, Jerry Jaker, Jason Helgemoe, Torri Johnson <br />Members Absent: Greg Belting <br /> <br />Staff Present: Economic Development Coordinator Aaron Backman <br />Others Present: Community Development Director Jim Ericson <br /> <br />3. APPROVAL OF EDC MINUTES: <br /> <br />Motion/Second: Field made a motion to approve the March 18, 2005 minutes. Seconded by <br />Entsminger. Approved 5 to 0. Johnson noted correction at the adjournment of the March 17, 2006 <br />minutes. Jaker made a motion to approve the March 17, 2006 minutes as amended. Seconded by <br />Entsminger. Approved 5 to 0. <br /> <br />4. SPECIAL BUSINESS <br /> <br />A. None. <br /> <br />5. EDC BUSINESS <br /> <br /> A. Discussion of the Economic Development Funding Priorities and Philosophy. Backman reviewed <br />Jim Ericson’s April 19, 2006 report to the M.V. Planning Commission. Ericson explored five <br />potential outcomes of its economic development policy review. First, the City could maximize the <br />flow of increment or revenues. Continuing TIF in the present fashion generates $14.4 million <br />over the next nine years. A variety of projects can be funded because of the flexibility with these <br />TIF districts. Second, the City could reduce the amount of increment available for economic <br />development purposes. Third, the percentage of the tax capacity captured in the existing <br />districts could be reduced. Fourth, the geographic area contained in the current TIF districts <br />could be reduced. Fifth, the City could reduce the financial burden of the TIF districts on non-TIF <br />properties. Backman reviewed the existing obligations for the three districts. District #3 is the <br />district that could be decertified the earliest based upon its current obligations. Ericson noted <br />that with these options the City would be looking at a percentage or specific dollar amount target. <br />Johnson asked if 16.3% of captured tax capacity is high or low. Ericson replied that there is no <br />standard with the state or the Office of State Auditor. It is really up to the individual communities <br />setting their priorities. Backman indicated that he was less concerned about the specific