07-25-2005 - Laserfiche WebLink

Home Browse Search

Mounds View EDA July 25, 2005 Regular Meeting Page 6 the EDA has the option to look at de-certification or consider a continuance. He stated that if they continue the TIF District 3 there should be projects that are looked at within that district. He stated that they could not hoard the dollars and they cannot have dollars coming in and not spend it for the purpose it was intended, which is economic development. He explained that in terms of this particular district it is a healthy district noting that they get well over $300,000 a year in increment payments. He stated that it is primarily derived by SYSCO, some derived by ZEP and some derived by Bridges Leasing, but the majority is derived by SYSCO. He stated that they have had some discussions with Ehlers about doing a complete analysis of all of the districts but the initial review is that they are fairly close to the original figure of approximately $1 million. Vice President Stigney stated that he would like to see it in black and white as to where the City is at and what the priorities are for the expenditures of the funds as to whether it would be put back and paying the down the tax base or keep the Districts going. He stated that there is a need for further discussion noting that they now have SYSCO asking for money and eventually Snyder’s would be coming in to ask for the same thing. He expressed concerns about the amounts being spent. He stated that he wants the details and the big picture of the project. He stated that he has problems with the amounts and has problems with mitigating offsite. He expressed concerns about the removal of the trees to make way for the parking lot adding that he would like to see a joint meeting with Council and Staff to determine the philosophy and direction on TIF for all of the districts. President Marty agreed with Vice President Stigney. Director Ericson agreed stating that this is what Staff is planning to do noting that if they can get the information prepared and presented from Ehlers for the September work session. He stated that this would be the perfect opportunity to discuss the philosophy, the health of the TIF districts, whether the City would de-certify or are they going to fund other projects and at what level. He stated that these are all issues that should be discussed with the EDA, the City Council and Staff. He stated that this should be on the September or October work session agenda. He stated that Staff would have a plan for the future but also need to know where they are today. He stated that in terms of cash on hand, Economic Development Coordinator Backman indicated that the City would have approximately $1 million in the TIF account this year adding that what is being proposed would not be out of the TIF pool, but rather an ongoing obligation similar to the original SYSCO agreement, which is a pay as you go note. He stated that it would not impact the account as to what is on hand adding that Staff recognizes and appreciates the comments from the EDA. Vice President Stigney stated that it would impact the taxpayers noting that the City either extends the district and pay as you go or close the district. He stated that he has concerns noting that the public hearing is scheduled for August 8, 2005 and he would like the information prior to the public hearing. He suggested rescheduling the public hearing in order to give them the opportunity to review all of the information. He stated that this is bigger than just looking at this