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• EDC Minutes <br /> February 18, 2005 Not Approved <br /> Page 3 <br /> Field asked about the need for any City financial assistance. Backman replied that no <br /> assistance has been requested at this time. <br /> 4. 2005 Public Finance Seminar(Ehlers)—February 3 &4: Backman, along with Jim Ericson <br /> and Charlie Hansen, attended this seminar. He has a binder of information for those <br /> members that are interested. Sessions were held on various topics, including TIF, <br /> redevelopment, acquisition, bonding, abatement, eminent domain. It was productive. <br /> 7. EDC BUSINESS <br /> A. Discussion of the Policy on the Use of Eminent Domain. The Commissioners have a report that <br /> Jim Ericson prepared regarding this topic. This report was presented at a City Work Session. <br /> Backman provided some background on the use. Why do we consider this? Couple of reasons: <br /> Is the existing owner making improvements to the property, blighted or abandoned property, <br /> health and safety issues, nuisance violations. Backman asked the EDC members to come back <br /> next month to discuss their thoughts regarding eminent domain. Should we have a formal <br /> policy? Toni noted that the City Attorney had advised to not do a formal policy. Backman felt we <br /> should at least discuss it. That it should be one of our tools. He suggested that the EDC come <br /> up with a recommendation to the EDA. <br /> B. Other—After the EDC meeting (approx. :25 a.m embers wil b�going to County Road H2 for <br /> a tour of the new Hidden Hollow Hdasing-Subdivision. <br /> 8. ADJOURNMENT <br /> There being no further business before the Commission, Johnson adjourned the February 18th meeting <br /> of the Economic Development Commission at 8:31 a.m. <br /> Respectfully submitted, <br /> Ltr?._ <br /> Aaron A. Backman <br /> Economic Development Coordinator <br />