06-22-1995 - Laserfiche WebLink

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Midwest explained that the medical waste is returned to the site and disposed properly through a contract with waste hauler BFI. This ensures that clients are not improperly disposing of used medical materials. The commission would recommend that the EDA pursue tax increment financing for the project • and further endorses that a technology driven business such as Midwest IV would enhance the economic development of the City. Motion/Second: Mountin/Nelson moved to approve recommendation to EDA to consider the use of tax increment financing for the Bridges Technology Center 7 ayes 0 nays Motion Carried B. Consideration of Action Steps in Response to the North Metro Business Retention and Expansion Survey Results After review of all the survey results of over 100 Mounds View businesses, the commission developed 12 action steps to address local business issues and concerns. These action steps will be unveiled to the business community at a reception on June 29, 1995 from 5:00-7:00 at SYSCO Minnesota. The EDC recommends that all members be present as well as the marketing task force members. Motion/Second: Nelson/Welsh moved to approve action steps in response to the North Metro Business Retention and Expansion Survey Results 6 ayes 0 nays • Motion Carried C. Consideration of Appropriation of Funds in 1995 and 1996 for the Business Loan Program Coordinator Bennett explained that staff is working with a financial consultant to accurately estimate the excess tax increment funds available for economic development programs over the next five years. It is estimated that Mounds View will have approximate 2.5 million available for all City Development Programs in 1995 and about 1/2 of that in 1996 depending upon the usage in 1995. The proposed programs to be funded by these dollars include single family rehabilitation, multi-family rehabilitation, business loan program, highway 10 redevelopment, Retail Rehabilitation, and School\Community Facility. A spread of the numbers will be presented to the EDA at the June work session by Tax Increment Consultants and the EDA will be presented with recommendations to allocate the funds to the above programs. To fund the business loan program, commissioner Malone suggests appropriating $100,000 and $300,000 in 1995 and 1996 respectively. This will allow for four maximum loans in the remaining 1995 months and twelve maximum loans in 1996. Motion/Second: Malone/Goff moved to approve $100,000 and $300,000 to fund Mounds View business loan program in 1995 and 1996 respectfully. 6 ayes 0 nays Motion Carried 2