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Mounds View EDA April 9, 2007 <br />Regular Meeting Page 2 <br /> <br />Commissioner Mueller: On Page 5, Line 190 other tools insert the words “besides TIF” that 45 <br />could be used for development within the City. 46 <br /> 47 <br />MOTION/SECOND: Mueller/Stigney. To Approve the March 12, 2007 Minutes as Amended. 48 <br /> 49 <br /> Ayes – 5 Nays – 0 Motion carried. 50 <br /> 51 <br />6. CONSENT AGENDA 52 <br /> 53 <br />None. 54 <br /> 55 <br />7. EDA BUSINESS 56 <br /> 57 <br /> A. Continued Discussion Relating to Business Resource Guide/Toolbox 58 <br /> 59 <br />Economic Development Coordinator Backman addressed the Council and continued discussions 60 <br />on the Business Resource Guide. He then said that the name of the document has been changed 61 <br />back to the Toolbox. 62 <br /> 63 <br />Economic Development Coordinator Backman noted that the EDC discussed this at its April 6, 64 <br />2007 meeting and adopted two motions. One motion was for approval of the toolbox and the 65 <br />second motion was for support of placing the business Toolbox on the website for review. 66 <br /> 67 <br />Commissioner Flaherty said that under Item E he would like to see all local business finance is at 68 <br />the discretion of the Mounds View EDA and he would like that bolded so it stands out. 69 <br /> 70 <br />The Authority expressed concern with the financial assistance the City may provide. 71 <br /> 72 <br />Economic Development Coordinator Backman indicated that, as a rule of thumb, he does not 73 <br />think that a City should finance a majority of a project but require that the business do the 74 <br />majority and the City, if it offers any assistance, offer only a very small portion. 75 <br /> 76 <br />Commissioner Mueller asked whether the City would have the ability to properly determine 77 <br />whether the business is credit worthy. 78 <br /> 79 <br />Economic Development Coordinator Backman indicated that he would require the same 80 <br />information that the banks would require. 81 <br /> 82 <br />Vice President Stigney indicated that he disagrees with the EDC’s recommendation to post the 83 <br />toolbox document to the web, and thinks the document is slanted toward businesses, and he 84 <br />would like to see the wording reformatted and he he would like to see some of the things 85 <br />discussed previously incorporated into the document.. 86