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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 1 <br />Housing Tax Increment Financing District in Support of the Proposed MWF 2 <br />Properties Multiple Housing Project 3 <br /> 4 <br />Business Development Coordinator Beeman requested the EDA adopt a Resolution consenting to 5 <br />the process for the creation of a Housing Tax Increment Financing District in support of the 6 <br />proposed MWF Properties Multiple Housing Project. He explained the developer was seeking 7 <br />tax credits for their development and was requesting support from the City. Staff reviewed the 8 <br />updates made to the document by the City Attorney and recommended approval. 9 <br /> 10 <br />Commissioner Bergeron explained this was a preliminary step the City needed to take in order 11 <br />for the development to continue to move forward. Business Development Coordinator Beeman 12 <br />reported this was the case and noted a formal TIF application would come to the City at a future 13 <br />date. He reiterated that the proposed Resolution was offering preliminary support and was non-14 <br />binding. 15 <br /> 16 <br />President Mueller questioned how many years the TIF note would be. Business Development 17 <br />Coordinator Beeman stated the developer was requesting a 15-year term and the preliminary TIF 18 <br />amount would be no more than $546,401 in funding. 19 <br /> 20 <br />President Mueller requested the term “places of worship” be added to the last paragraph of the 21 <br />letter of support. 22 <br /> 23 <br />Vice President Gunn believed this was not relevant and cautioned the EDA from making this 24 <br />change. 25 <br /> 26 <br />Commissioner Meehlhause stated he had the same thought and did not believe the Commission 27 <br />should mix church and state. 28 <br /> 29 <br />Commissioner Bergeron was of the opinion “places of worship” was a generic term. 30 <br /> 31 <br />Commissioner Hull stated he had no opinion on this matter. 32 <br /> 33 <br />The consensus of the Commission was to add the language “places of worship” to the final 34 <br />paragraph of the letter of support. 35 <br /> 36 <br />MOTION/SECOND: Hull/Gunn. To Waive the Reading and Adopt Resolution 17-EDA-299, 37 <br />Resolution Consenting to the Process for the Creation of a Housing Tax Increment Financing 38 <br />District in Support of the Proposed MWF Properties Multiple Housing Project and approving a 39 <br />letter of support for the project. 40 <br /> 41 <br />Commissioner Meehlhause asked if a TIF district were approved if the City would be keeping an 42