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Mounds View EDA May 8, 2017 <br />Regular Meeting Page 2 <br /> <br />A. 17-EDA-299, Resolution Consenting to the Process for the Creation of a <br />Housing Tax Increment Financing District in Support of the Proposed MWF <br />Properties Multiple Housing Project <br /> <br />Business Development Coordinator Beeman requested the EDA adopt a Resolution consenting to <br />the process for the creation of a Housing Tax Increment Financing District in support of the <br />proposed MWF Properties Multiple Housing Project. He explained the developer was seeking <br />tax credits for their development and was requesting support from the City. Staff reviewed the <br />updates made to the document by the City Attorney and recommended approval. <br /> <br />Commissioner Bergeron explained this was a preliminary step the City needed to take in order <br />for the development to continue to move forward. Business Development Coordinator Beeman <br />reported this was the case and noted a formal TIF application would come to the City at a future <br />date. He reiterated that the proposed Resolution was offering preliminary support and was non- <br />binding. <br /> <br />President Mueller questioned how many years the TIF note would be. Business Development <br />Coordinator Beeman stated the developer was requesting a 15-year term and the preliminary TIF <br />amount would be no more than $546,401 in funding. <br /> <br />President Mueller requested the term “places of worship” be added to the last paragraph of the <br />letter of support. <br /> <br />Vice President Gunn believed this was not relevant and cautioned the EDA from making this <br />change. <br /> <br />Commissioner Meehlhause stated he had the same thought and did not believe the Commission <br />should mix church and state. <br /> <br />Commissioner Bergeron was of the opinion “places of worship” was a generic term. <br /> <br />Commissioner Hull stated he had no opinion on this matter. <br /> <br />The consensus of the Commission was to add the language “places of worship” to the final <br />paragraph of the letter of support. <br /> <br />MOTION/SECOND: Hull/Gunn. To Waive the Reading and Adopt Resolution 17-EDA-299, <br />Resolution Consenting to the Process for the Creation of a Housing Tax Increment Financing <br />District in Support of the Proposed MWF Properties Multiple Housing Project and approving a <br />letter of support for the project. <br /> <br />Commissioner Meehlhause asked if a TIF district were approved if the City would be keeping an