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Mounds View EDA September 22, 2003 <br />Regular Meeting Page 3 <br /> <br />Economic Development Coordinator Backman indicated that in terms of assistance the TIF 88 <br />assistance is a larger dollar amount on average. 89 <br /> 90 <br />Commissioner Gunn asked how often this TRF policy is used. 91 <br /> 92 <br />Economic Development Coordinator Backman indicated the City is still waiting for its maiden 93 <br />use. He then said that it has only been in existence for a few years and it is seeing more use in 94 <br />other communities as TIF restrictions have gotten greater. 95 <br /> 96 <br />President Linke suggested adding wording under policy purpose after the first paragraph on Page 97 <br />3 that “it is desirable that TIF financing be utilized in lieu of TRF whenever possible if it can be 98 <br />shown to be beneficial to the City to do so. 99 <br /> 100 <br />President Linke closed the public hearing at 6:53 p.m. 101 <br /> 102 <br />MOTION/SECOND: Marty/Gunn. To Waive the Reading and Adopt the Tax Rebate Finance 103 <br />Policy and Application. 104 <br /> 105 <br />Vice President Stigney suggested that the City require the applicant to meet two of the objectives 106 <br />listed on Page 5 rather than just one. 107 <br /> 108 <br />MOTION/SECOND: Stigney/Marty. To Amend the Tax Rebate Finance Policy and Application 109 <br />to Require that the Applicant Meet Two of the Objectives Listed on Page 5. 110 <br /> 111 <br /> Ayes – 4 Nays – 1(Quick) Motion carried. 112 <br /> 113 <br />Ayes – 5 Nays – 0 Motion carried. 114 <br /> 115 <br />7. REPORTS 116 <br /> 117 <br />Economic Development Coordinator Backman indicated that the developer has submitted 118 <br />building plans for Highway 10 north of the theatre and has scheduled a ground breaking for 119 <br />Monday, September 29, 2003 at 11:00 a.m. 120 <br /> 121 <br />Commissioner Gunn asked for an update on the Amoco site. 122 <br /> 123 <br />Economic Development Coordinator Backman indicated a number of plans are being reviewed 124 <br />for the site and noted that the property owner to the south of Amoco may need to acquire a strip 125 <br />of land of approximately 20 feet in width to accommodate parking and develop the site properly. 126 <br /> 127 <br />8. NEXT EDA MEETING: October 13, 2003 128 <br /> 129