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Mounds View EDA August 22, 2005 Regular Meeting Page 16 President Marty asked if the application is to be after the owner acquires property. City Administrator Ulrich stated it could be either ownership or control of the property, but he would have to look at the policy. Economic Development Coordinator Bachman stated the problem is that it would compromise the but/for test. Basically if the EDA is justifying the TIF expenditure, it needs to say that but/for this particular assistance, this project would not happen. Mr. Amundson explained he is asking the Authority why it is moving ahead at this point when other actions may result in never requiring the creation of this District. He stated it seems appropriate to do things in order and to also avoid legal contentions by assuring actions follow the City’s policy. Mr. Amundson explained that he was previously told that the application had not been submitted and believes it is not appropriate to entertain one before moving forward with the sale. He stated he appreciates that the application now exists and he would like the opportunity to review it. He was surprised the notice was not made available. Commissioner Flaherty stated it behooves the City to move forward on a project of this magnitude and he cannot in good conscience stop the project where it is now without moving forward. He stated that he understands the petition is being submitted and that Mr. Amundson is asking the City to stop any negotiation until the petition is ratified. Mr. Amundson asserted the EDA is taking an action it is not authorized to take since the ordinance is not in effect that allows the EDA to sell the property to the requested future property owner. Commissioner Thomas advised that the Ordinance had a 30 day effective period and went into effect on August 20, 2005. Mr. Amundson asserted the action does not take effect until the petition is ratified. President Marty stated the petition issue will be addressed at the Council meeting. Mr. Amundson stated he wanted to address whether policy and procedure is being followed. AMENDMENT MOTION: Stigney/. To waive the reading and adopt EDA Resolution 05-EDA- 208B, Adopting a Modification to the Project Plan for the Mounds View Economic Development Project, Establishing Tax Increment Financing District No. 5 Therein and Adopting a Tax Increment Financing Plan Therefor, as amended to add Section 7. Exempting parcel 05-30-23- 22-0004, the triangular property, as approved in EDA Resolution 05-EDA-208A. Commissioner Thomas questioned how the exemption would be reflected since the PIN is no longer listed in the previous resolution. For documentation sake, when the resolution is filed, she noted it will not have that parcel reflected so referring to it in this document will not make sense.