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Mounds View EDA May 26, 2009 <br />Regular Meeting Page 4 <br /> <br />resources. 129 <br /> 130 <br />President Flaherty stated some did not want TIF in the tool box but others thought it should be 131 <br />included, since it was a tool. Thus, the tool box became an internal document for staff to use 132 <br />when working with developers. He asked how staff would promote the loan program. 133 <br /> 134 <br />Economic Development Specialist Steinmetz stated the loan program could be advertised on the 135 <br />City’s website or the tool box information could be posted so people know what is available. In 136 <br />addition, developers could be encouraged with pro-business statements to send the message that 137 <br />Mounds View would like certain businesses. 138 <br /> 139 <br />Commissioner Gunn felt the tool box should be made public and aids to business should be 140 <br />promoted with the understanding that TIF is not the governing body’s first choice. 141 <br /> 142 <br />Vice President Stigney stated on the other hand, the City should attract the businesses it wants 143 <br />and inform the developer of all programs that would apply. He noted the funds will not go far 144 <br />and he prefers to have it channeled to local businesses where it would result in a visual impact. 145 <br /> 146 <br />Commissioner Hull asked if any of the tool box items have been used recently. Economic 147 <br />Development Specialist Steinmetz stated they have not due to the economy and low development 148 <br />activity for the past several years. She stated she was not aware that she could approach local 149 <br />businesses about the loan opportunity to make visual improvements. 150 <br /> 151 <br />President Flaherty stated it is not known whether the program works because it has not been 152 <br />promoted. He felt as the economy recovers and interest rates go up, the EDA may want to re-153 <br />address the 2 percent interest rate. 154 <br /> 155 <br />Commissioner Mueller indicated she did not want the entire toolbox posted online because a 156 <br />business may use the information as a point of comparison without staff consultation. She noted 157 <br />other cities have more money and can be more generous with potential businesses when 158 <br />compared to what Mounds View can offer. She would prefer the developer contact the City’s 159 <br />personable staff so they find out that Mounds View is a great place to do business. 160 <br /> 161 <br />Community Development Director Roberts noted the City’s website contains nothing about 162 <br />economic development so developers may not ask any questions of staff. 163 <br /> 164 <br />President Flaherty suggested that the website encourage inquiries about the City’s assistance 165 <br />program without posting the toolbox information. 166 <br /> 167 <br />Commissioner Mueller stated her support for staff to contact City businesses that need refreshing 168 <br />to inform them of the loan program and encourage them to apply. 169 <br /> 170