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Mounds View EDA June 26, 2006 Regular Meeting Page 4 could be used, they may try to get TIF funding. He added that the EDA should not offer TIF 1 funding. 2 3 President Marty agreed, and said he would like to keep TIF off the table. He said if something 4 comes in that appeals to the Council, it will be addressed at that time. Commissioner Thomas 5 said this discussion is premature and should wait until it is the Council’s to discuss. She said 6 there is some thought the EDA could put into it as far as options for the property once that time 7 comes. 8 9 Commissioner Flaherty said he agrees, but does not believe he would say right now that TIF is 10 not available and added developers could ask on a case-by-case basis. He asked that any City 11 funds put toward demolition reflect in the selling price of the property. 12 13 Community Development Director Ericson said the liability letter is forthcoming and states that 14 the tanks were removed prior to the City maintaining ownership. The letter is a statement to the 15 fact that the City has not caused any of the contamination that is out there. He said the 16 letter is coming and it is clear that the City has nothing to do with the contamination. He said 17 from a Staff perspective, he shares the concern about not having the letter, but if the property is 18 before June 30th, it will save the City close to $20,000 in 2007 taxes. 19 20 Commissioner Thomas suggested that a resolution be contingent on receipt of the letter, although 21 it still makes her nervous. Community Development Director Ericson stated the letter could be 22 here as soon as tomorrow. President Marty said he would like it to be contingent on the letter as 23 well and Vice President Stigney agreed. 24 25 Vice President Stigney said the City should not buy the property since it is currently on the tax 26 roll and will be off the tax roll once it is purchased by the City. He stated he does not support the 27 purchase. 28 29 President Marty that it is one mile of streets off of the tax roll, but is blighted property right on 30 the main street and if it can be developed, he hopes the City will get a higher and better use for 31 property which will generate considerable more taxes than the gas station brought in. He said the 32 only other interest has been from other gas station companies and he would like to get a higher 33 and better use. 34 35 Vice President Stigney said there will have to be a pretty high price to gain more tax income. 36 President Marty said depending on how it is developed, the City should be able to recoup some 37 money. 38 39 MOTION/SECOND: GUNN/FLAHERTY. To Approve the Resolution 06-EDA-220 40 Authorizing the Acquisition of the Premium Stop Property Located at 2390 County Road 10 41 Consistent with the terms of the Approved Purchase Agreement, contingent upon the receipt of 42 the liability letter from the MPCA. 43 44 Ayes – 4 Nays – 1 (Stigney) Motion carried. 45