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Mounds View EDA July 25, 2005 Regular Meeting Page 6 the EDA has the option to look at de-certification or consider a continuance. He stated that if 212 they continue the TIF District 3 there should be projects that are looked at within that district. He 213 stated that they could not hoard the dollars and they cannot have dollars coming in and not spend 214 it for the purpose it was intended, which is economic development. He explained that in terms of 215 this particular district it is a healthy district noting that they get well over $300,000 a year in 216 increment payments. He stated that it is primarily derived by SYSCO, some derived by ZEPP 217 and some derived by Bridges Leasing, but the majority is derived by SYSCO. He stated that they 218 have had some discussions with Ehlers about doing a complete analysis of all of the districts but 219 the initial review is that they are fairly close to the original figure of approximately $1 million. 220 221 Vice President Stigney stated that he would like to see it in black and white as to where the City 222 is at and what the priorities are for the expenditures of the funds as to whether it would be put 223 back and paying the down the tax base or keep the Districts going. He stated that there is a need 224 for further discussion noting that they now have SYSCO asking for money and eventually 225 Snyder’s would be coming in to ask for the same thing. He expressed concerns about the 226 amounts being spent. He stated that he wants the details and the big picture of the project. He 227 stated that he has problems with the amounts and has problems with mitigating offsite. He 228 expressed concerns about the removal of the trees to make way for the parking lot adding that he 229 would like to see a joint meeting with Council and Staff to determine the philosophy and 230 direction on TIF for all of the districts. 231 232 President Marty agreed with Vice President Stigney. 233 234 Director Ericson agreed stating that this is what Staff is planning to do noting that if they can get 235 the information prepared and presented from Ehlers for the September work session. He stated 236 that this would be the perfect opportunity to discuss the philosophy, the health of the TIF 237 districts, whether the City would de-certify or are they going to fund other projects and at what 238 level. He stated that these are all issues that should be discussed with the EDA, the City Council 239 and Staff. He stated that this should be on the September or October work session agenda. He 240 stated that Staff would have a plan for the future but also need to know where they are today. He 241 stated that in terms of cash on hand, Economic Development Coordinator Backman indicated 242 that the City would have approximately $1 million in the TIF account this year adding that what 243 is being proposed would not be out of the TIF pool, but rather an ongoing obligation similar to 244 the original SYSCO agreement, which is a pay as you go note. He stated that it would not impact 245 the account as to what is on hand adding that Staff recognizes and appreciates the comments 246 from the EDA. 247 248 Vice President Stigney stated that it would impact the taxpayers noting that the City either 249 extends the district and pay as you go or close the district. He stated that he has concerns noting 250 that the public hearing is scheduled for August 8, 2005 and he would like the information prior to 251 the public hearing. He suggested rescheduling the public hearing in order to give them the 252 opportunity to review all of the information. He stated that this is bigger than just looking at this 253