06-27-2005 - Laserfiche WebLink

Home Browse Search

Mounds View EDA June 27, 2005 Regular Meeting Page 12 Vice President Stigney stated that this is the greatest opportunity this city has ever had and will have in the future of this city. He stated that he has lived here for 39 years and nothing has ever come before this city like this great of an opportunity for the City. He stated that they are looking at changing a tax-exempt property that has never paid taxes and never will pay taxes to the city, county or school district because it is tax exempt. He stated that they are going to review this in comparison to what Medtronic will pay both long-term and short-term. He noted the question was raised as to what would happen when it closes out noting that Medtronic would be paying over $1 million per year to the city and you want to let it go for a losing proposition of a golf course. He stated that they would also get $83,000 in franchise fees each year and start with $43,000 to $60,000 in tax base each year that would also increase each year during the life of the TIF District. He noted the $856,000 in park dedication fees, $100,000 to the school district, $1 million to MnDOT plus the $865,000 in cash to the City. He noted that 63-percent of the people polled have said get rid of the golf course because it is subsidizing. He stated that the billboards are subsidizing it because if they weren’t paying the billboard money into the golf course it would go into the general fund. He stated that it couldn’t go to the general fund because the bond covenants state that all funds must go to the golf course. He stated that trails would also be included noting that it is mind-boggling to see where the debate has taken this issue. He stated that he is so glad that Medtronic has considered coming into this city and it is his hope that we haven’t scared them off as he would love to welcome them. Commissioner Gunn agreed with Vice President Stigney noting that they need to look at the future of the city, not just the here and now. She stated that the city as a whole is falling apart and they need the tax money coming in and the benefits now and in the future. She recalled that someone recently said that there would not be any repercussions from not having Medtronic adding that she would have to disagree with this statement. She stated that she is seeing a bigger picture noting that she has worked on the Highway 10 Committee to get this road developed adding that this would be a real boost for the city to have Medtronic come in as they could possibly attract other businesses to the area including restaurants and shops. She emphasized that they have to look at the big picture and the future, not just the here and now. Commissioner Flaherty stated that he first came to the Authority in January 2005. He stated that he has listened carefully to everyone who has spoken on this issue noting that The Bridges golf course does evoke a lot of passion within the community. He agreed that it does teach and promote family values and it is beginning to show signs that it could sustain itself now due to the billboard contracts with Clear Channel. He stated that it has a fine staff under the direction of Mary Burg and they have won numerous awards for excellence noting that it is a first class operation. He stated that Medtronic is a well-respected company that has a true humanitarian mission noting that they have been an asset to the State of Minnesota and the areas in which they have operated. He noted that they are a Minnesota company with a desire to stay in Minnesota rather than go to the highest bidder perhaps in another state. He stated that they have several components to consider including revenue for the city. Commissioner Flaherty explained that he