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Mounds View EDA August 22, 2005 Regular Meeting Page 16 President Marty asked if the application is to be after the owner acquires property. City 625 Administrator Ulrich stated it could be either ownership or control of the property, but he would 626 have to look at the policy. 627 628 Economic Development Coordinator Bachman stated the problem is that it would compromise 629 the but/for test. Basically if the EDA is justifying the TIF expenditure, it needs to say that but/for 630 this particular assistance, this project would not happen. 631 632 Mr. Amundson explained he is asking the Authority why it is moving ahead at this point when 633 other actions may result in never requiring the creation of this District. He stated it seems 634 appropriate to do things in order and to also avoid legal contentions by assuring actions follow 635 the City’s policy. Mr. Amundson explained that he was previously told that the application had 636 not been submitted and believes it is not appropriate to entertain one before moving forward with 637 the sale. He stated he appreciates that the application now exists and he would like the 638 opportunity to review it. He was surprised the notice was not made available. 639 640 Commissioner Flaherty stated it behooves the City to move forward on a project of this 641 magnitude and he cannot in good conscience stop the project where it is now without moving 642 forward. He stated that he understands the petition is being submitted and that Mr. Amundson is 643 asking the City to stop any negotiation until the petition is ratified. 644 645 Mr. Amundson asserted the EDA is taking an action it is not authorized to take since the 646 ordinance is not in effect that allows the EDA to sell the property to the requested future property 647 owner. Commissioner Thomas advised that the Ordinance had a 30 day effective period and 648 went into effect on August 20, 2005. 649 650 Mr. Amundson asserted the action does not take effect until the petition is ratified. 651 652 President Marty stated the petition issue will be addressed at the Council meeting. 653 654 Mr. Amundson stated he wanted to address whether policy and procedure is being followed. 655 656 AMENDMENT MOTION: Stigney/. To waive the reading and adopt EDA Resolution 05-EDA-657 208B, Adopting a Modification to the Project Plan for the Mounds View Economic Development 658 Project, Establishing Tax Increment Financing District No. 5 Therein and Adopting a Tax 659 Increment Financing Plan Therefor, as amended to add Section 7. Exempting parcel 05-30-23-660 22-0004, the triangular property, as approved in EDA Resolution 05-EDA-208A. 661 662 Commissioner Thomas questioned how the exemption would be reflected since the PIN is no 663 longer listed in the previous resolution. For documentation sake, when the resolution is filed, she 664 noted it will not have that parcel reflected so referring to it in this document will not make sense. 665 666