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Mounds View EDA January 23, 2006 <br />Regular Meeting Page 13 <br /> <br />minimum assessment agreement. If there is a petition from the County and they get more money <br />from the County assessment agreement, then the City is not required to pay that extra amount. <br />She explained this language is directly coming from the situation in the City of Fridley. <br /> <br />President Marty stated that makes him feel more comfortable. <br /> <br />Commissioner Gunn stated she remembers that conversation from a past meeting. This is the <br />very thing that was discussed and explained why this language was being included. <br /> <br />Ms. Eldridge explained that this language will protect the City from getting into any negative <br />financing or paying out what they don’t have. She also noted the minimum assessment <br />agreement goes up at 3% every year as added protection. <br /> <br />President Marty stated this will be discussed again at the January 30, 2006 work session. <br /> <br />8. REPORTS <br /> <br />Economic Development Coordinator Backman showed the EDA a copy of the new Twin City <br />North Chamber of Commerce map and recognized the attendance of Bruce Nustad, the new <br />Chamber President. <br /> <br />9. NEXT EDA MEETING: Monday, February 13, 2006 at 6:30 p.m. <br /> <br />10. ADJOURNMENT <br /> <br />President Marty adjourned the meeting at 7:38 p.m. <br /> <br />Respectfully submitted, <br /> <br />Recorded and transcribed by: <br /> <br />Carla Wirth <br />TimeSaver Off Site Secretarial, Inc.