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Mounds View EDA November 28, 2005 Regular Meeting Page 3 88 President Marty stated he likes the fact that it will assure Phase 2 is in Mounds View. He noted 89 that the administrative fee from TIF for Phase 1 ranges from $41,000 to $46,000 so this could 90 add $20,000 to $30,000 a year. 91 92 President Marty stated he is concerned that with this much construction, the City’s one full time 93 building inspector may need some help. Director Ericson noted that hiring an additional 94 inspector may provide enough assistance so staff can focus on the Medtronic project. But, if 95 more help is needed, staff can look at that. He explained that Medtronic plans to submit building 96 permits in phases and built sequentially rather than dropping off 1,000 pages of plans at one time. 97 Medtronic will time submissions so it is spread out and staff can review the plans and get to 98 inspections. If additional staff is needed, the permit revenue would support that cost. 99 100 President Marty stated the Phase 1 TIF period was extended from 8 years, by State Statute, to 25 101 years. He asked if Phase 2 is submitted, could it be renegotiated to get closer to the State 102 Statutes. 103 104 Director Ericson explained he is not at a point to talk about negotiated issues but this could be 105 wrapped into the current project and if the EDA wants to consider accelerating payoff, staff could 106 look at less of an administrative fee of the TIF generated and roll the funds back into the payoff 107 so it is paid sooner. He noted the costs are greater to do two standalone TIF districts so maybe 108 Phase 2 could be wrapped into the Phase 1 TIF district that is already authorized. 109 110 President Marty stated the EDA supports directing staff to move forward with discussion. 111 112 City Administrator Ulrich stated staff would like Ehlers to run the numbers, which will incur 113 costs that would be reimbursed by Medtronic. 114 115 President Marty stated his agreement with using Ehlers since they are the most knowledgeable 116 with this project. 117 118 8. REPORTS 119 120 A. An Update Regarding the DEED Funding Agreement for the County Road J 121 Improvement Project 122 123 City Administrator Ulrich reviewed that the EDA has previously granted staff approval to 124 execute agreements for the $5 million grant received from the State for construction of County 125 Road J. At this time an issue has come up that has not yet been resolved and staff wants to bring 126 that issue to the attention of the EDA. 127 128