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Mounds View EDA July 10, 2006 Regular Meeting Page 3 Commissioner Flaherty stated that he read the St. Anthony TIF policy, believes it is a good start, 88 and needs to be personalized for Mounds View. He stated in terms of the City’s need for TIF, 89 the City will have $14.3 million in the status quo and $34 million worth of improvements have 90 been identified. He stated that past surveys of the residents point that the needs are high on 91 residents’ lists of priorities also. He stated the money is also needed for streets. 92 93 Commissioner Flaherty stated he previously said that if the present increment is not maximized, 94 the Council will have to go back to the citizens for funds in the form of bonds or tax increases. 95 He stated he is in favor of giving money back to the citizens, but does not “want to take money 96 out of the left pocket and put it into the right.” 97 98 Commissioner Thomas asked what Staff is requesting from the EDA. She stated there are two 99 different issues, a TIF policy and a TIF plan. She stated the policy is in front of the EDA and 100 asked what Staff is requesting regarding the TIF plan. She stated the TIF policy is very similar to 101 St. Anthony. She asked what the EDA needs to accomplish and whether Staff wants the EDA to 102 present a plan. 103 104 Director Ericson replied that staff would like to know if the policy is fine as is. He stated there 105 was a desire to look at other plans and Staff and the EDA wanted to review them. He stated in 106 terms of the plan, Staff is looking at possible expenditures through the life of the districts. He 107 stated the EDA needs to formalize an agreement regarding how the funds should be spent. 108 109 Director Ericson added that Staff is looking for direction about priorities for funding 110 expenditures. He stated the EDC has laid out their priorities and that Staff would like direction 111 about where to focus their efforts. 112 113 Acting President Stigney stated he appreciated Director Ericson’s summary of the Planning 114 Commission meeting. He stated he does not recall what the Planning Commission’s priorities 115 are and would like to be informed. He stated the Planning Commission is being asked by the 116 EDC for input to have more of a balance between economic and residents’ interests. 117 118 Acting President Stigney stated that regarding Scenario B, removing $2 million from the SYSCO 119 district, that taxpayers would save $32 per home per year in taxes. Acting President Stigney 120 stated he may agree with such a plan. He stated he would like to use TIF to bring in a 121 development, and once the development is done, the TIF should be given back to the taxpayers. 122 He stated he does not believe in an “all or nothing” situation. He stated that residents have paid 123 in enough and should get some back. 124 125 Acting President Stigney addressed the policy and stated he does not have a problem if the EDA 126 considers St. Anthony’s policy as a basis to begin. He stated he likes St. Anthony’s summary 127 about the purpose of TIF funds. He explained that nailing down a TIF policy going forward 128 should be a priority. He stated he would like to see a summary of St. Anthony’s policy 129