Agenda Packets - 2005/09/26 - Laserfiche WebLink

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Mounds View City Council August 22, 2005 Regular Meeting Page 22 1 An audience member asked about the locations of the phases. Director Ericson used a site map 2 to identify the location of the buildings in Phases 1, 2 and 3, the parking ramp, and surface 3 parking areas. 4 5 Mr. McCarty asked if there will be additional business subsidies for Phases 2 and 3. Director 6 Ericson stated the business subsidies being considered relate to Phase 1. 7 8 Mr. McCarty asked if it is a “given” and that opportunity is preserved to allow for additional 9 business subsidies for future phases. Director Ericson stated the contract under consideration 10 relates only to Phase 1 and does not tie this or future Councils to subsequent TIF or subsidy for 11 this project. 12 13 City Attorney Riggs explained the current contract only covers Phase 1 and the financing for 14 Phase 1. Any other financing request would have to stand on its own and be compliant with 15 State law. 16 17 Mr. McCarty stated the current contract indicates that future subsidies will not be unreasonably 18 withheld for Phases 2 and 3. He asked if this Council is signing the contract with that proviso 19 included. 20 21 City Attorney Riggs stated the Council will not bind itself at this point in time and any request 22 made would have to follow the same process with a public hearing and the but/for test would be 23 implicated. He stated that is the general concept that is being considered. 24 25 Mr. McCarty asked if the commitments of this Council cannot be held to future Councils. 26 27 Mayor Marty stated if Phase 1 is approved and Medtronic comes in, then the City will want 28 Phases 2 and 3 to also be constructed on Mounds View property to capture all the taxes 29 potentially available at some date and time. 30 31 Mr. McCarty asked how that effects the decertification possibilities in the future if one business 32 subsidy is being piling on top of another. Mayor Marty explained that they would not tie together 33 and could run currently. 34 35 Mr. McCarty stated the 25 year term that citizens are being told of could be something much 36 different. 37 38 Mayor Marty explained that Phase 1 stands on its own and when paid off, that District would be 39 decertified. If they create Phase 2, that has the potential to stand on its own unless they do 40 Phases 2 and 3 together. 41 42 Mr. McCarty stated the contract refers to additional future business subsidies and he believes that 43 Medtronic will be back in 2012 saying they want another business subsidy, which means another 44 TIF extension. 45