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Mounds View EDA April 11, 2005 <br />Regular Meeting Page 7 <br /> <br />percent of the people wished to have the Mounds View golf course redevelop or sold for <br />redevelopment. He stated that when she is correcting figures, he understands what she is doing, <br />but that’s a different question altogether. He asked if she had a comment that was germane to the <br />Medtronic development. <br /> <br />Ms. Burg stated that she would like to see the City do a cost benefit analysis of the two projects <br />because she has not seen them. <br /> <br />Vice President Stigney stated that they haven’t either, and it’s in the process, and they will all see <br />if before they take any action. He stated that wanted to bring people up to date on the status of <br />where they are on the proposed Medtronic development, and they don’t have all the answers in. <br />He stated when they are here, they’ll probably do a continuation to April 25th, by that time they’ll <br />have more information available. <br /> <br />Jerry Kahn, 2833 Crestway Drive, stated that he supports the golf course. He stated that once <br />that land is gone, he is not aware of any other developable land in Mounds View available for a <br />golf course. He stated that the City of Mounds View needs it for their families and children. <br /> <br />Brian Amundson, 3448 Woodale Drive, asked if someone could clarify how much of the <br />property the City or the EDA is seeking to put into TIF, if any of it. <br /> <br />Economic Development Coordinator Backman stated that 72 acres would be in the TIF district. <br /> <br />Mr. Amundson asked if that was the entire property, and Coordinator Backman stated that it was. <br /> <br />Mr. Amundson stated that that will add 23 percent of the total property that is currently in TIF. <br /> <br />Economic Development Coordinator Backman stated it might change it 2 percent. He stated that <br />you have to bear in mind that they are talking about the value as well, and that value right now is <br />about $8 million for base value. He stated that in addition, last summer they decertified 80 <br />parcels, so they are in the process of putting some of the parcels back onto the tax rolls. <br /> <br />Mr. Amundson asked if the projected tax base value of $2 million is net to the city over five <br />years. <br /> <br />Economic Development Coordinator Backman stated it would be approximately $4 million over <br />25 years, $2 million net present value. <br /> <br />Mr. Amundson asked if from a financial standpoint when calculating the benefit of Medtronics <br />moving into the City it was $4 million. <br /> <br />Economic Development Coordinator Backman stated there is much more than that. He stated