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Mounds View EDA May 9, 2005 Regular Meeting Page 4 in Mounds View school programs in addition to $600,000 committed for park and recreation dedication fees. He stated that Medtronic’s Community involvement does not end with contributions noting that Medtronic employees also volunteer in various schools and mentoring programs. He acknowledged that none of these decisions are easy adding that he understands the passion and concern of the residents and their want to see their Community be successful. He referenced the passion of the people who work for Medtronic and the community they live in stating that it is a real blessing and it is his hope that Medtronic becomes a good neighbor in the City of Mounds View. Rodger McCombs, Vice President, Medtronic, stated that his organization includes real estate, construction, facility management, security and travel support noting that all of it comes to bear, in some way, to this project. He reviewed the financial elements of the project and the site plan with the Commission. He stated that they have worked closely with State, County and City officials to ensure that the site is positively developed. He stated that one item of concern that was brought up during a past public hearing was the concern regarding the wetlands. He assured the Commission that Medtronic views the wetlands area as an amenity noting that they have included wetlands as a natural amenity at other facilities as a buffer. He stated that Medtronic wants to ensure that the campus is a positive environment for both the employees and the residents of Mounds View. Mr. McCombs stated that the property to the west could be developed with park dedications fees adding that they could incorporate walking trails and park areas throughout. He acknowledged that the development would create an increase in traffic flow stating that they have worked closely with MnDOT, Ramsey County, Anoka County, Hennepin County, Shoreview and Blaine to address the traffic concerns. He reviewed traffic access points and flow with the Commission noting that this was a project that MnDOT originally was not going to address for another ten years. He stated that Medtronic endorses the plans to upgrade 35W/County Road J bridge intersection; the County Road J traffic turn lanes, Airport Road and State Highway 10 noting that the projects are fully funded at the State level. He explained that Real Estate and Construction is part of his responsibility noting that the expansion would add 300 jobs over the next two years. He stated that the new campus would generate the need for jobs to operate and provide services at the new campus in addition to the positive impact it would have for local and regional businesses. Mr. McCombs stated that Medtronic deals with the tax issues noting that the TIF calculation that was used for the Fridley Headquarters, was for $100.00 per square foot. He explained that Medtronic reached an agreement with the City of Fridley to engage a third-party mediator to come to an agreement for $109 per square foot as an appropriate charge. He explained that Medtronic pays taxes in Anoka County, Ramsey County and Hennepin County noting that the increase in the tax base would be now with an additional potential for growth. He indicated that millions of dollars are available now through the sale of land, park dedication fees, franchise fees, permits and administrative fees. He stated that the Medtronic expansion would be a great