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Mounds View EDA May 8, 2017 Regular Meeting Page 2 1 A. 17 -EDA -299, Resolution Consenting to the Process for the Creation of a 2 Housing Tax Increment Financing District in Support of the Proposed MWF 3 Properties Multiple Housing Project 4 5 Business Development Coordinator Beeman requested the EDA adopt a Resolution consenting to 6 the process for the creation of a Housing Tax Increment Financing District in support of the 7 proposed MWF Properties Multiple Housing Project. He explained the developer was seeking 8 tax credits for their development and was requesting support from the City. Staff reviewed the 9 updates made to the document by the City Attorney and recommended approval. 10 11 Commissioner Bergeron explained this was a preliminary step the City needed to take in order 12 for the development to continue to move forward. Business Development Coordinator Beeman 13 reported this was the case and noted a formal TIF application would come to the City at a future 14 date. He reiterated that the proposed Resolution was offering preliminary support and was non - 15 binding. 16 17 President Mueller questioned how many years the TIF note would be. Business Development 18 Coordinator Beeman stated the developer was requesting a 15 -year term and the preliminary TIF 19 amount would be no more than $546,401 in funding. 20 21 President Mueller requested the term "places of worship" be added to the last paragraph of the 22 letter of support. 23 24 Vice President Gunn believed this was not relevant and cautioned the EDA from making this 25 change. 26 27 Commissioner Meehlhause stated he had the same thought and did not believe the Commission 28 should mix church and state. 29 30 Commissioner Bergeron was of the opinion "places of worship" was a generic term. 31 32 Commissioner Hull stated he had no opinion on this matter. 33 34 The consensus of the Commission was to add the language "places of worship" to the final 35 paragraph of the letter of support. 36 37 MOTION/SECOND: Hull/Gunn. To Waive the Reading and Adopt Resolution 17 -EDA -299, 38 Resolution Consenting to the Process for the Creation of a Housing Tax Increment Financing 39 District in Support of the Proposed MWF Properties Multiple Housing Project and approving a 40 letter of support for the project. 41 42 Commissioner Meehlhause asked if a TIF district were approved if the City would be keeping an