Laserfiche WebLink
leases from both Portable Products and Sims Deltec. They have made the request in good <br /> faith to retain both companies in Mounds View. Director Bennett discussed the other <br /> alternatives mentioned for a loan request, Portable Products moving into alternate space <br /> within the building or moving entirely into another building. • <br /> Commissioner Field suggested that CALPERS incur the $700,000 moving costs for Sims and <br /> work the payback into the expanded lease for Portable Products. Commissioner Larson asked <br /> if members of the EDC could have a tour of the business to help in understanding the need for <br /> contiguous space. Chair Nelson stated that this is a difficult request since the City has not <br /> provided grant funds to companies before, especially when there would be no additional tax <br /> revenue to pay for the City's investment. Chair Nelson noted that most of the pay-as-you-go <br /> TIF agreements that they have recommended were for significantly less than this and that the <br /> amount of jobs per investment is much higher than the State average for justifying assistance. <br /> Commissioner Larson asked if lease information was provided to the City TIF Consultant.IVIr. <br /> Pelstring stated that CALPERS has agreed to give the Consultant that information if the <br /> Commission agrees to review the request. Commissioner Goff noted that since staff has not <br /> discussed the request with the principals of Portable Products and Sims Deltec that she was <br /> not in a position to make a decision on this matter. <br /> Mr. Pelstring thanked the Commission for their time and continued consideration of the <br /> request. <br /> Motion/Second: Goff/Schmidt moved to table the request and directed staff to work meet with <br /> the principals of both Portable Products and Sims Deltec to discuss other options. <br /> Motion Carried 5 ayes 0 nays <br /> • <br /> 6. Reports From Chair, Commissioners and Staff: <br /> No reports S <br /> 7. Adjournment <br /> There being no further business before the Commission, this meeting of the Economic <br /> Development Commission adjourned at 7:00 p.m. <br /> Respectfully Submitted, <br /> D�ten: ,L. - 11/11/1 ti <br /> ector of E onomic Development <br /> 5 1 r <br /> • <br /> 2 <br />