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Mounds View EDA January 14, 2005 <br />Special Meeting Page 3 <br /> <br />provide a good baseline. 88 <br /> 89 <br />President Marty asked whether all the signs were up yet. 90 <br /> 91 <br />Economic Development Director Backman stated that there are structures on all six sites, but 92 <br />they are not fully done. 93 <br /> 94 <br />Commissioner Flaherty stated his concern over spending $14,500 on appraisals when they 95 <br />haven’t received a proposal yet from Medtronic. He stated his concern over the increase there 96 <br />has been in the taxes for the residents of Mounds View. 97 <br /> 98 <br />Economic Development Director Backman stated that Medtronic had attended and spoke at the 99 <br />last City Council meeting, so that had been a good sign. He stated that both sides were spending 100 <br />money on this project, and that the AUAR was a process that needed to be done whether it’s for 101 <br />this project or another project. He stated that Medtronic had hired SRF to do a traffic analysis. 102 <br /> 103 <br />President Marty asked whether this cost could be put into the purchase price for the land. 104 <br /> 105 <br />Economic Development Director Backman stated that a variety of things could be placed into a 106 <br />development agreement such as this. He stated that the expenditure was TIF eligible, and that 107 <br />the TIF funds are in good shape. He stated they were just beginning the process to discuss what 108 <br />elements could be placed in a development agreement with Medtronic. 109 <br /> 110 <br />President Marty asked if it was necessary to complete the appraisal two weeks early with a higher 111 <br />price tag. 112 <br /> 113 <br />Economic Development Director Backman stated that it was necessary, and that there are a lot of 114 <br />aspects to this $65 million project. He stated that Medtronic would like to begin construction in 115 <br />September. He stated that he was working on a chart to determine when various issues need to 116 <br />be accomplished. He stated that there had been discussions regarding accomplishing the 117 <br />development agreement by the latter part of March, so these appraisals were needed by the end of 118 <br />February. 119 <br /> 120 <br />Commissioner Stigney asked if the appraisals would be time specific. 121 <br /> 122 <br />Economic Development Director Backman stated that the appraisals would be like a snapshot in 123 <br />time. 124 <br /> 125 <br />City Attorney Riggs stated that it would be relevant for the time period they were talking about 126 <br />here, but in two years they would have a basis to work off of from it. 127 <br /> 128 <br />Commissioner Stigney stated that the size and scope of this project is a once in a lifetime 129