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Mounds View EDA July 25, 2005 Regular Meeting Page 7 spot with SYSCO, it is what they are doing with the $1 million. President Marty stated that SYSCO does have a need and they are showing the need at this time. Economic Development Coordinator Backman stated that he has two observations, one, in terms of the trees, what they are talking about would impact less than 5-percent of the area that is out there with the former SYSCO property adding that it is not his belief that there would be a huge impact on the Cottonwoods and other trees on the property; secondly, in terms of the process here, the applicant has presented a good project and they are facing a situation where they do need to expand this year or the project would move elsewhere. He encouraged EDA to consider this project at this time. Commissioner Thomas stated that she has questions about what the City is planning to do with TIF noting that she is not comfortable with continuing the pay as you go for TIF District 3 when it is an option that they could begin discussions for closing the district next year. She asked if they have to decide if it comes from the pool funds or the TIF District 3 funds by the August 8th hearing or can they say they are comfortable with the number and sort out what they have from the TIF or whether it comes from the pool or TIF District 3 at some point following that meeting. Director Ericson stated that it has been recommended that they do not utilize the TIF pool for this and that it has been recommended by the City’s Financial Advisors that the City should do a pay as you go note if the City does offer financial assistance. He explained that providing a $250,000 lump sum, upfront payment, sets a pretty precedent in terms of future requests. Economic Development Coordinator Backman stated that if this were set as a pay as you go over a three-year period the EDA would have the ability to de-certify this district in 2008. Commissioner Flaherty stated that he is all in favor of having a meeting with the Authority and asked SYSCO to be patient with the Authority. He stated that the Authority understands that SYSCO does have a need and asked them to allow the Authority, as a body, to take a week to get their information together to see where they are at with the districts. He stated that they want to do what is right for SYSCO and the citizens of Mounds View. President Marty clarified that it would not be a week or two that it would be over a month and is a construction issue. Commissioner Flaherty acknowledged noting that they are looking at November completion. Economic Development Coordinator Backman stated that they have had discussions with Shelly at Ehlers and given their schedule the soonest timeframe they could get the information would be in the August/September timeframe referenced by Director Ericson.