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, _ <br /> ca, <br /> APPR 4 <br /> EDA Meeting#36 <br /> May 12, 1997 <br /> Page 3 <br /> 1 The EDA will control the TW funds,and the money will be loaned to the city/developer for the city's portion of <br /> 2 the Bel Rae Community Center. <br /> 3 <br /> 4 MOTION/SECOND: Trude/Quick to Approve Resolution NO.97-EDA-68,Resolution Granting Final <br /> 5 Approval for Expenditure of Tax Increment Funds to Finance the City's Cost in Connection with the Bel Rae <br /> 6 Community Center Project and Authorizing the EDA to Enter into a TTP Loan Agreement with the City to <br /> 7 Provide TIF Financing Assistance. <br /> 8 <br /> 9 VOTE: 5 ayes 0 nays Motion Carried <br /> 10 <br /> 11 WORTS: <br /> 12 <br /> 13 Report of EDA Beard Members: <br /> 14 <br /> 15 Report of President McCarty: No report <br /> 16 <br /> 17 ]report pf VicePresidlept RQoymeiners: No report. <br /> 18 <br /> 19 Report of 4ecetary Trude: No report. <br /> 20 <br /> IP 21 Report of CQnJn ssioners: <br /> 22 <br /> 23 Commissioner Quick: No report <br /> 24 <br /> 25 Commissioner Stigney: No report. <br /> 26 <br /> 27 Report of Executive Dirpettr Ms.Bennett noted that the New Brighton/Mounds View Chamber of <br /> 28 Commerce Luncheon will beheld on June 5,1997 from 11:35 a.m.to 1:30 p.m.at the Never Brighton Family <br /> 29 ' Service Center. She urged attendance of the EDA members. <br /> 30 <br /> 31 Repojt of Treasury:. No report <br /> 32 <br /> 33 Report ofAttgrney: No report. <br /> 34 <br /> 35 President McCarty declared the meeting of the Economic Development Authority adjourned at 11:45 p.m. <br /> 36 <br /> 37 Respectfully submitted, <br /> 38 <br /> 39 <br /> 40 <br /> 41 Tamara D.Sac&e <br /> 42 Recording Secretary <br /> 43 <br /> 44 • <br /> 45 <br /> 46 <br /> 410 47 <br /> 48 <br />