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Noi Approved <br />C. 2901 Highway 10 <br />Coordinator Parrish updated the Commission regarding the status of 2901 Highway 10, or <br />the former gas station property. He announced that the Economic Development Authority <br />authorized the provision of demolition assistance and that it is anticipated that the property <br />will be demolished sometime next week. <br />D. Tax Increment Finance Policy Update <br />Coordinator Parrish indicated that the Economic Development Authority passed the tax <br />increment finance policy recommended by the Commission with a couple of slight <br />modifications. <br />E. Walgreens <br />Director Rick Jopke updated the Commission on the upcoming Walgreens' development. <br />He indicated that the proposal was going to be considered at the JUly 5'h, 2000 meeting of <br />the Planning Commission. He reaffirmed that a Walgreens and Culvers restaurant are still <br />planned for the property. He also reiterated the terms of the land exchange between the city <br />and the developer. <br />F. Mermaid Hotel and Banquet Center <br />Coordinator Parrish apprised the Commission on the status of the Mermaid's request for tax <br />increment finance assistance. He indicated that the Economic Development Authority has <br />given preliminary approval to the request, and that the city's consultants are currently in the <br />process of drafting development agreement and the necessary amendments to the tax <br />increment finance plan. Once the appropriate agreements and amendments have been <br />drafted, the Economic Development Authority will give final consideration to the proposal. <br />G. Council Manager Form of Government <br />Director Jopke gave a brief overview of the City Council's consideration of a council- <br />manager form of government. Director Jopke stated that the primary difference the <br />proposed form of government and the existing form of government is the role of the city <br />council. He indicated that under a city manager form of government, the Council would take <br />more of a policy making role in city affairs with administrative matters being left to a city <br />manager. Commissioner Belting inquired about the form of government other communities <br />used, particularly in the metropolitan area. Director Jopke indicated that the City has gotten <br />this information and it could be provided at a later date. <br />H. Charter Commission Resolution 2000-09 <br />Coordinator Parrish indicated that Charter Commission Resolution 2000-09 has been <br />provided to the Commission since it relates to the use of tax increment finance in Mounds <br />View. <br />6. EDC BUSINESS <br />A. Tax Abatement Finance Policy <br />Coordinator Parrish provided an overview of tax abatement and its potential use in Mounds <br />View. He discussed the public interest requirements prerequisite to granting an abatement, <br />the potential uses of abatement, abatement compared to tax increment financing, and <br />abatement's capacity to generate revenue. <br />N:\DATA\GROUPS\ECONDEV\EDC\A4inutes\MinOO\06-22-OO.doc <br />