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EDA Meeting#41 August 11, 1997 Page 2 Commissioner Trude stated she feels more time needs to be spent looking at alternative uses for the site that is being looked at for multi-family housing and if that project appears to be going forward,she feels the city should complete a thorough check on all of the projects that the developer was involved in at other areas. She believes time needs to be spent on that project before the city starts considering other projects proposed for the soccer field site. MOTION/SECOND: Quick/Koopmeiners to Approve the Exclusive Negotiations Agreement by and between the Mounds View Economic Development Authority,City of Mounds view and Anthony Properties. VOTE: 2 ayes 2 nays(Trude/Stigney) Motion Fails Discussion on the use of Tax Increment Financing for Multi-Family Housing in Mounds View. Commissioner Trude noted that within the next few weeks,the city will be looking at using tax increment funds for multi-family housing. She feels that the city has always looked at the use of TIF funds as a way to improve the community's tax base. The legislature has begun limiting the use of TIF funds and there is a big emphasis on looking for projects that create jobs and increase the tax base. She thinks the council should consider what the ramifications are of using excess TIF funds for projects such as multi-family housing. MOTION/SECOND: Trude/Stigney to limit the use of tax increment funds for multi-family housing projects • in Mounds View. VOTE: 2 ayes 2 nays(Quick/Koopmeiners) Motion Fails REPORTS: Report of EDA Board Members: Report of President McCarty: No report. Report of Vice President Koopmeiners: No report. Report of Secretary Trude: No report. Report of Commissioners: Commissioner Quick: No report. Commissioner Stigney: No report. Report of Executive Director: No report. Report of Treasurer: No report. Report of Attorney: No report. • The August 11, 1997 meeting of the EDA was adjourned at 9:09 p.m. Respectfully submitted,