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Mounds View EDA May 9, 2005 Regular Meeting Page 4 in Mounds View school programs in addition to $600,000 committed for park and recreation 130 dedication fees. He stated that Medtronic’s Community involvement does not end with 131 contributions noting that Medtronic employees also volunteer in various schools and mentoring 132 programs. He acknowledged that none of these decisions are easy adding that he understands the 133 passion and concern of the residents and their want to see their Community be successful. He 134 referenced the passion of the people who work for Medtronic and the community they live in 135 stating that it is a real blessing and it is his hope that Medtronic becomes a good neighbor in the 136 City of Mounds View. 137 138 Rodger McCombss, Vice President, Medtronic, stated that his organization includes real estate, 139 construction, facility mgmt, security and travel support noting that all of it comes to bear, in 140 some way, to this project. He reviewed the financial elements of the project and the site plan 141 with the Commission. He stated that they have worked closely with State, County and City 142 officials to ensure that the site is positively developed. He stated that one item of concern that 143 was brought up during a past public hearing was the concern regarding the wetlands. He assured 144 the Commission that Medtronic views the wetlands area as an amenity noting that they have 145 included wetlands as a natural amenity at other facilities as a buffer. He stated that Medtronic 146 wants to ensure that the campus is a positive environment for both the employees and the 147 residents of Mounds View. 148 149 Mr. McCombs stated that the property to the west could be developed with park dedications fees 150 adding that they could incorporate walking trails and park areas throughout. He acknowledged 151 that the development would create an increase in traffic flow stating that they have worked 152 closely with MnDOT, Ramsey County, Anoka County, Hennepin County, Shoreview and Blaine 153 to address the traffic concerns. He reviewed traffic access points and flow with the Commission 154 noting that this was a project that MnDOT originally was not going to address for another ten 155 years. He stated that Medtronic endorses the plans to upgrade 35W/County Road J bridge 156 intersection; the County Road J traffic turn lanes, Airport Road and State Highway 10 noting that 157 the projects are fully funded at the State level. He explained that Real Estate and Construction is 158 part of his responsibility noting that the expansion would add 300 jobs over the next two years. 159 He stated that the new campus would generate the need for jobs to operate and provide services 160 at the new campus in addition to the positive impact it would have for local and regional 161 businesses. 162 163 Mr. McCombs stated that Medtronic deals with the tax issues noting that the TIF calculation that 164 was used for the Fridley Headquarters, was for $100.00 per square foot. He explained that 165 Medtronic reached an agreement with the City of Fridley to engage a third-party mediator to 166 come to an agreement for $109 per square foot as an appropriate charge. He explained that 167 Medtronic pays taxes in Anoka County, Ramsey County and Hennepin County noting that the 168 increase in the tax base would be now with an additional potential for growth. He indicated that 169 millions of dollars are available now through the sale of land, park dedication fees, franchise 170 fees, permits and administrative fees. He stated that the Medtronic expansion would be a great 171