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Mounds View EDA August 8, 2005 <br />Regular Meeting Page 9 <br /> <br />Vice President Stigney stated that he would like further clarification on the 50/50 split. He 339 <br />suggested that the 50/50 split should be 50-percent of what they are asking for, which would be a 340 <br />two-year payout at $125,000. 341 <br /> 342 <br />MOTION Stigney/ To adopt Resolution 05-EDA-207 Approving the Development Agreement 343 <br />to Provide a 50/50 split with a Two-Year Payout at $125,000.00 in Tax Increment Financing 344 <br />(TIF) Assistance to SYSCO Food Services of Minnesota to facilitate the expansion of the 345 <br />Business Located at 2400 County Road J in the City of Mounds View, Minnesota. 346 <br /> 347 <br />Motion dies due to lack of a second. 348 <br /> 349 <br />MOTION/SECOND: Thomas/Marty. To adopt Resolution 05-EDA-207 Approving the 350 <br />Development Agreement to Provide a 50/50 split with a Two-Year Payout at $250,000.00 in Tax 351 <br />Increment Financing (TIF) Assistance to SYSCO Food Services of Minnesota to facilitate the 352 <br />expansion of the Business located at 2400 County Road J in Mounds View. 353 <br /> 354 <br /> Ayes –4 Nay – 1 (Stigney) Motion carried. 355 <br /> 356 <br />8. REPORTS 357 <br /> 358 <br /> A. Update regarding the Medtronic Redevelopment Project 359 <br /> 360 <br />Economic Development Coordinator Backman provided the Commission with a brief update on 361 <br />where the City is at on the County Road J Reconstruction project. He referenced the meeting 362 <br />held on July 18th noting that several things have been accomplished relative to the road project 363 <br />including: 364 <br />• A meeting was held with MnDOT to discuss geometric needs for the future of the 365 <br />35W/County Road J interchange. 366 <br />• Wetland and threatened/endangered species fieldwork has been completed; 367 <br />• An initial meeting has been held with the Rice Creek Watershed District to discuss the 368 <br />Judicial Creek impacts. 369 <br />• There has been work on the overall hydrology, watershed boundaries and preliminary 370 <br />stormwater pond sizing and location. 371 <br />• Development of a bridge plan and elevation concept drawing is under way. 372 <br />• Soil borings have commenced in this area. 373 <br />• Meetings have been held with the Medtronic Staff and Engineers to coordinate the tie-ins to 374 <br />the Coral Sea improvements. 375 <br /> 376 <br />Economic Development Coordinator Backman stated that the current actions include: 377 <br />• Shoreview City Council is holding a workshop to discuss the County Road J Reconstruction 378 <br />project. 379 <br />• A utility meeting is scheduled for Tuesday, August 9, 2005, that would include all utilities 380