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Mounds View EDA April 25, 2005 Regular Meeting Page 12 and also at what point do they think the citizens would question what was decided here. 465 466 Cindy Weinberger, 2322 119th Circle, Blaine, stated that she is employed with The Mermaid. 467 She stated that she has heard so much about the positive effects for the youth in this community 468 and the benefits gained by the golf course and asked how much of the taxes generated at the golf 469 course go back to benefit the schools and how much money would Medtronic put back into the 470 schools. She stated that in her opinion education in the schools is much more valuable than any 471 sport. 472 473 Mr. Linke stated that currently it is non–taxable and none of the money would go back to the 474 School District. He stated that the schools would not receive any funds if it goes to TIF for a 475 twenty-five year period either. Ms. Kvilvang, Ehlers, clarified that this is not entirely true noting 476 that as discussed, the property is tax-exempt. She stated that with respect to the schools, there 477 are referendums out there and if Medtronic were built they would be paying on the tax rates from 478 the referendums. 479 480 President Marty closed the public hearing at 7:40 p.m. 481 482 President Marty stated that this public hearing would be continued at the May 9, 2005 EDA 483 meeting. 484 485 MOTION/SECOND: Gunn/Thomas. To Approve the motion to continue this discussion to the 486 May 9, 2005 EDA meeting. 487 488 Ayes –4 Nays – 0 Motion carried. 489 490 8. REPORTS 491 492 None. 493 494 9. NEXT EDA MEETING: Monday, May 9, 2005 at 6:00 p.m. 495 496 10. ADJOURNMENT 497 498 President Marty adjourned the meeting at 7:45 p.m. 499 500 Respectfully submitted, 501 502 Recorded and transcribed by: 503 Bonnie Sullivan 504 TimeSaver Off Site Secretarial, Inc. 505