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Mounds View EDA November 14, 2005 Regular Meeting Page 4 Commissioner Thomas asked how changing to Election B impacts the tax rate within the district and tax disparity rates. Ms. Eldridge stated there is one obligation left in the District #1 and it only has a year or so left. She stated her bigger concern is with District #2. She advised that there is also an in-between consideration to share back with the County, School District, and City. Ms. Kvilvang stated the discussion before the EDA is the magnitude that can be captured versus going with the Election that would reduce the amount. She asked the EDA to first consider their priority projects. President Marty asked if the EDC members have recommendations. EDC Commissioner Torri Johnson stated they have discussed this list for about one year and take it seriously as the areas to focus on in the City. She stated based on the last discussion, County Road 10 is in the forefront. Other projects would be if a developer brings something to them or if there are safety issues. Commissioner Thomas noted County Road 10 is divided into two pieces. Ms. Kvilvang explained that typically with County Road projects, the City has a match of funding to dedicate to the project that are not County funds. Director Ericson noted that Page 2 of the report includes an engineer’s estimate regarding the County Road 10 project. He explained that they did their best work to identify the cost associated with that project and the total is estimated to be $9.1 million, which is less than the ballpark estimate. He advised that staff has already submitted grant and funding applications but that funding would not become available until 2007. TIF dollars are available that are not obligated and the City will face the real possibility of having to give them back if not used. Director Ericson noted the City has plans and priorities and it is a matter of moving forward with those projects. He stated he recognizes the benefit of looking at the Election A and B and fiscal disparities, but the priorities and funding needs must first be identified. Then consideration can be given of how to put those dollars back on the tax rolls. He stated it is important to look at the projects identified as priorities and provide feedback on what staff should move forward with. If not a priority for the EDA and Council, then it tells staff what is available. He noted that everything in the priority list can be funded with existing dollars available to the City. Commissioner Thomas asked if the local match is what should be considered on the priority list, or should the EDA be talking about a $10 million project and whether it is a City project, or someone else’s project. She stated that she believes it will be a long time if the City is going to wait for match dollars. Commissioner Thomas stated she thinks the City needs to talk about a $10 million project and whether the City should bond for it to make it happen.