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<br /> <br /> <br />Minutes of the Economic Development Commission <br />City of Mounds View <br />Ramsey County, Minnesota <br /> <br />Special Meeting <br />March 9, 2012 <br />City of Mounds View, Council Chambers <br />2401 Highway 10, Mounds View, MN 55112 <br /> <br /> <br />1. CALL TO ORDER <br /> <br /> Chair Torri Johnson called the meeting to order at 7:34am. <br /> <br />2. ROLL CALL <br /> <br />Members Present: Chair Torri Johnson, Vice Chair Jennifer Wagner-Harkonen and <br />Commissioners Jason Helgemoe, Dan Larson and Gary <br />Meehlhause <br /> <br />Members Absent: Commissioners Greg Belting and Jim Paron <br /> <br />Staff Present: Finance Director Mark Beer and Economic Development Specialist <br />Heidi Steinmetz <br /> <br />3. APPROVAL OF MARCH 9, 2012 AGENDA <br /> <br />Motion/Second: Commissioner Larson moved and Commissioner Meehlhause seconded <br />the approval of the March 9, 2012 EDC agenda. <br /> <br />Motion Carried: 5 Ayes, 0 Nays <br /> <br />4. APPROVAL OF FEBRUARY 17, 2012 EDC MINUTES <br /> <br />Commissioner Helgemoe noted a change on page 2 under Item C1. The word “Expending” <br />needed to be changed to “Using the” and the words “within the City of Mounds View” was <br />added to the end of the sentence. <br /> <br />Motion/Second: Commissioner Helgemoe moved and Vice Chair Wagner-Harkonen <br />seconded the approval of the February 17, 2012 minutes as amended. <br /> <br />Motion Carried: 5 Ayes, 0 Nays <br /> <br />5. EDC BUSINESS <br /> <br />A. Tax Increment Financing (TIF) Presentation by Finance Director Mark Beer <br />Finance Director Mark Beer provided the EDC with a basic presentation on Tax Increment <br />Financing (TIF). He said that TIF is one of many Economic Development tools available to <br />cities and that cities use TIF by creating different types of TIF Districts. He said each type of <br />district has different rules and year limits. He provided an overview of Mounds View’s four <br />TIF Districts. He explained how Tax Increment is calculated and he discussed how the <br />City’s unobligated TIF funds could be used within Mounds View.