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Mounds View EDA June 27, 2005 Regular Meeting Page 16 634 Motion failed due to lack of second. 635 636 Vice President Stigney noted that Medtronic is also paying the $314,000 in expenses for the 637 AUAR and water testing. He stated that Medtronic would be transferring positions with a 638 growth potential of 300 jobs per year. He referenced the Economic Development spin-off 639 opportunities stating that it is his belief that it would be unequal noting that as far as increasing 640 values of the homes in the area because the demand for housing could be a big advantage. He 641 noted that 80-percent of the residents do not play golf and he is here to represent their interests 642 too. He noted that the golf course is a cash strain and has been from the beginning. He stated 643 that from May of last year to May of this year there has been a 27-percent decline and the golf 644 course has brought in $70,000 less than last year, which means city is subsidizing course. 645 646 Commissioner Thomas stated that the revenues were compared from this year and last year 647 noting that it is not a fair comparison. She stated that it is not the fault of the golf course that 648 there has been a decrease in play due to these discussions and weather. He stated that this is not 649 a fair comparison noting that they have a good enough history to compare that they do not need 650 to take this into account. 651 652 President Marty stated that he agrees that the residents should have the right to vote on anything 653 of this magnitude in the city, as they are all part owners. He stated that to have five people vote 654 on an issue that is a hot button topic concerns him. He stated that Springsted did an independent 655 evaluation on the golf course in 2000 for bonding and to determine why it was losing money. He 656 explained that it was revealed in the report that it was due to the lawsuits and legal fees after the 657 golf course was constructed due to construction shortfalls. He stated that he would like this 658 entered into the record and pulled forward. He stated that Springsted found that the golf course 659 was making far more money than the conservative estimates it was projected at and if it hadn’t 660 been for the lawsuits after construction the golf course would have been self-sufficient with 661 estimates that were made setup for the bonding and payments. He stated that the amount of 662 revenue it had generated far exceeded the estimates. He asked if there is anyone on the Council 663 that has anything they would like to disclose before taking the vote. He noted that Commissioner 664 Thomas has mentioned to him at the House Subcommittee meeting that she knew Donn 665 Hagmann and that he is her cousin’s father. 666 667 Commissioner Thomas confirmed that he is her aunt’s ex-husband and pointed out that this was 668 the first time she had seen him in twelve years. 669 670 Commissioner Gunn stated that there is no conflict of interest and the City Attorney has also 671 clarified that there is no conflict of interest. 672 673 President Marty asked City Attorney Riggs to clarify the process of transferring the property to 674 the EDA and why they are doing this. 675