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Mounds View EDA August 22, 2005 Regular Meeting Page 3 Economic Development Coordinator Bachman explained that it is the recommendation of Ehlers & Associates to include it for several reasons. He advised that if there are any TIF expenses within that area such as roads or trails, or something TIF eligible, it could be paid by increment generated from the District. He explained that with a TIF District, the City can subtract parcels but once created the City cannot add parcels to the District. However, Staff is flexible in looking at the wishes of the EDA and in looking at other options relative to this parcel. Commissioner Thomas asked why there would be anything inhibiting the use of TIF dollars since they would be TIF eligible improvements regardless of whether this parcel is or is not within the TIF District. President Marty noted the parcel in question is already within TIF District No. 3. Commissioner Thomas suggested the EDA could remove the parcel from TIF District No. 3 and leave it out completely. Shelly Eldridge, Ehlers & Associates, Inc., advised that one reason Staff recommended to leave the parcel in for now, but maybe not forever, is that the City does not yet know what will be on that parcel. However, once the buildings are located Staff will know if more land is needed. Also, once the City has a better idea of where and how the buildings will be set, actual land and lots splits for both SYSCO and Medtronic, and what is happening with the SYSCO outlot, then the EDA can decide if the parcel should be taken out of the TIF District. Ms. Eldridge explained that putting the parcel in the District now will give the EDA more flexibility and there is nothing to preclude removing the parcel in the future, once the EDA knows what will be happening on the parcel. In addition, the EDA can use some of the increment from older districts. However, Staff has not yet gone through that analysis or determined whether the EDA will change or decertify districts. Ms. Eldridge stated she believes it would be premature to take this parcel out of the TIF District at this point and recommended it be reviewed again in the future. Commissioner Thomas stated she had forgotten about the triangle piece of property and whether the City may need it for an access way. She asked if the City can get a right-of-way easement. Vice-President Stigney questioned the impact to the money that Medtronic is giving the City for trailways. Economic Development Coordinator Bachman explained that the contribution to the park dedication is $865,000 of which up to $150,000 can be allocated for trails. There is no specification whether the parcel is in TIF District No. 3 or TIF District No. 5 or some other configuration. There is no regulation or specificity in that regard. He used a map to note the location of the triangular piece of property that was referred to by Commissioner Thomas.