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Mounds View EDA August 22, 2005 Regular Meeting Page 3 Economic Development Coordinator Bachman explained that it is the recommendation of Ehlers 88 & Associates to include it for several reasons. He advised that if there are any TIF expenses 89 within that area such as roads or trails, or something TIF eligible, it could be paid by increment 90 generated from the District. He explained that with a TIF District, the City can subtract parcels 91 but once created the City cannot add parcels to the District. However, Staff is flexible in looking 92 at the wishes of the EDA and in looking at other options relative to this parcel. 93 94 Commissioner Thomas asked why there would be anything inhibiting the use of TIF dollars since 95 they would be TIF eligible improvements regardless of whether this parcel is or is not within the 96 TIF District. 97 98 President Marty noted the parcel in question is already within TIF District No. 3. 99 100 Commissioner Thomas suggested the EDA could remove the parcel from TIF District No. 3 and 101 leave it out completely. 102 103 Shelly Eldridge, Ehlers & Associates, Inc., advised that one reason Staff recommended to leave 104 the parcel in for now, but maybe not forever, is that the City does not yet know what will be on 105 that parcel. However, once the buildings are located Staff will know if more land is needed. 106 Also, once the City has a better idea of where and how the buildings will be set, actual land and 107 lots splits for both SYSCO and Medtronic, and what is happening with the SYSCO outlot, then 108 the EDA can decide if the parcel should be taken out of the TIF District. 109 110 Ms. Eldridge explained that putting the parcel in the District now will give the EDA more 111 flexibility and there is nothing to preclude removing the parcel in the future, once the EDA 112 knows what will be happening on the parcel. In addition, the EDA can use some of the 113 increment from older districts. However, Staff has not yet gone through that analysis or 114 determined whether the EDA will change or decertify districts. Ms. Eldridge stated she believes 115 it would be premature to take this parcel out of the TIF District at this point and recommended it 116 be reviewed again in the future. 117 118 Commissioner Thomas stated she had forgotten about the triangle piece of property and whether 119 the City may need it for an access way. She asked if the City can get a right-of-way easement. 120 121 Vice-President Stigney questioned the impact to the money that Medtronic is giving the City for 122 trailways. 123 124 Economic Development Coordinator Bachman explained that the contribution to the park 125 dedication is $865,000 of which up to $150,000 can be allocated for trails. There is no 126 specification whether the parcel is in TIF District No. 3 or TIF District No. 5 or some other 127 configuration. There is no regulation or specificity in that regard. He used a map to note the 128 location of the triangular piece of property that was referred to by Commissioner Thomas. 129