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Mounds View EDA June 27, 2005 Regular Meeting Page 16 MOTION/SECOND Marty/ To postpone further discussion and to ask Springsted and Associates to review this proposal and give the City an independent third-party viewpoint. Motion failed due to lack of second. Vice President Stigney noted that Medtronic is also paying the $314,000 in expenses for the AUAR and water testing. He stated that Medtronic would be transferring positions with a growth potential of 300 jobs per year. He referenced the Economic Development spin-off opportunities stating that it is his belief that it would be unequal noting that as far as increasing values of the homes in the area because the demand for housing could be a big advantage. He noted that 80-percent of the residents do not play golf and he is here to represent their interests too. He noted that the golf course is a cash strain and has been from the beginning. He stated that from May of last year to May of this year there has been a 27-percent decline and the golf course has brought in $70,000 less than last year, which means city is subsidizing course. Commissioner Thomas stated that the revenues were compared from this year and last year noting that it is not a fair comparison. She stated that it is not the fault of the golf course that there has been a decrease in play due to these discussions and weather. She stated that this is not a fair comparison noting that they have a good enough history to compare that they do not need to take this into account. President Marty stated that he agrees that the residents should have the right to vote on anything of this magnitude in the city, as they are all part owners. He stated that to have five people vote on an issue that is a hot button topic concerns him. He stated that Springsted did an independent evaluation on the golf course in 2000 for bonding and to determine why it was losing money. He explained that it was revealed in the report that it was due to the lawsuits and legal fees after the golf course was constructed due to construction shortfalls. He stated that he would like this entered into the record and pulled forward. He stated that Springsted found that the golf course was making far more money than the conservative estimates it was projected at and if it hadn’t been for the lawsuits after construction the golf course would have been self-sufficient with estimates that were made setup for the bonding and payments. He stated that the amount of revenue it had generated far exceeded the estimates. He asked if there is anyone on the Council that has anything they would like to disclose before taking the vote. He noted that Commissioner Thomas has mentioned to him at the House Subcommittee meeting that she knew Donn Hagmann and that he is her cousin’s father. Commissioner Thomas confirmed that he is her aunt’s ex-husband and pointed out that this was the first time she had seen him in twelve years. Commissioner Gunn stated that there is no conflict of interest and the City Attorney has also clarified that there is no conflict of interest.