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Mounds View EDA June 27, 2005 Regular Meeting Page 15 had issues throughout the discussion process with the timeframe of the TIF District. He stated 592 that it was originally proposed as a redevelopment TIF district, which could have a lifespan of 593 25-years noting that it was changed and modified to what it should be, which is an Economic 594 Development District. He explained that by TIF Statute and State law an Economic 595 Development District is capped at 8-years noting that there was special legislation to extend this 596 to 25-years for Medtronic, and for Medtronic alone. He noted that the first year wouldn’t count 597 so it would actually end up being a 26-year TIF district. He acknowledged that this could pay-off 598 sooner than it is proposed but it is still a quarter of a century and many would not realize the 599 benefits from a 25-year TIF district. He stated that it was pointed out that in actuality the savings 600 would be a couple bucks a year on their taxes through the school districts. He referenced the 601 traffic issues noting that they would have the resources to address these issues in addition to the 602 road repairs. He stated that he does not see this as a big cash cow noting that he discussed this 603 with Finance Director Hansen and asked for his input on the issues. He explained that the 604 Finance Director explained that in 25-years the city would be in great shape but in the meantime, 605 as Joe pointed out, and over the last number years the city has had to do double-digit tax 606 increases just to meet basic city expenses. He stated that at a break of $41,000 to $43,000 a year 607 coming directly to the city would increase a bit every year but the billboard contract was 608 negotiated for five years noting that no one on the Council was actually in favor of billboards. 609 He stated that they worked out a sunset clause where the billboards would come down in twenty 610 years but with this proposal the billboards would not come down for 30-years or longer. He 611 explained that the timeframe doesn’t start until the billboards are moved and in place. He stated 612 that presently all of the billboards are located north of Highway 10 and Medtronic does not want 613 the billboards located on their property. He agreed adding that they cannot fit all of the 614 billboards in this area and some of the billboards would have to be brought into town and remain 615 for the next 30-years. He clarified that he has never been in favor of billboards but agreed to the 616 contract as a means to an end to pay off the golf course without incurring an increase in property 617 taxes to pay off the golf course. He stated that he would like to move to table this discussion to 618 ask Springsted and Associates to review this proposal and give the City an independent third-619 party viewpoint. 620 621 Vice President Stigney called a point of order stating that a motion to table is out of order in 622 accordance with the Roberts Rules. 623 624 President Marty moved to postpone. 625 626 Vice President Stigney referred to page 201 of Roberts Rules of Order, newly revised, it states 627 that tabling a motion can only be used to set something aside temporarily for a matter that is of 628 more urgency that needs to be dealt with at that moment. 629 630 City Attorney Riggs clarified that it should be a motion to postpone. 631 MOTION/SECOND Marty/ To postpone further discussion and to ask Springsted and 632 Associates to review this proposal and give the City an independent third-party viewpoint. 633