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Mounds View EDA June 12, 2000 <br />Regular Meeting Page 2 <br /> <br />4. CONSENT AGENDA <br /> <br />None. <br /> <br />5. EDA BUSINESS <br /> <br />A. Consideration of Bid Proposals for 2901 Highway 10 Demolition. <br /> <br />Economic Development Coordinator Parrish stated various options were discussed by the <br />Economic Development Authority and Commission to address the current condition of the <br />former gas station located at 2901 Highway 10. He indicated that based upon those discussions, <br />it was determined that providing demolition assistance would be the most effective and <br />economical method of improving the condition of the property. After discussing this option with <br />the property owner, and obtaining their consent, requests for proposals were mailed out to local <br />demolition contractors, with the low bid of $5,024, coming back from Dirt and Demolition of <br />Coon Rapids. <br /> <br />Economic Development Coordinator Parrish stated the resolution before the Authority would <br />authorize this expenditure, not to exceed $6,028 in Tax Increment Funds, which figure reflects a <br />20 percent contingency that has been incorporated to account for the State mandated <br />Environmental and Asbestos Survey. <br /> <br />MOTION/SECOND: Quick/Stigney. To Waive the Reading and Approve Resolution No. 00- <br />EDA-130, a Resolution Approving and Authorizing the Expenditure of Tax Increment Funds for <br />the Demolition of 2901 Highway 10. <br /> <br />Vice President Stigney suggested a friendly amendment to waive the reading. <br /> <br />The Motioner accepted. <br /> <br /> Ayes – 3 Nays – 0 Motion carried. <br /> <br />Mayor Coughlin noted Commissioner Marty was not present for this vote. <br /> <br />B. Consider Adoption of Updated Tax Increment Finance Policy. <br /> <br />Economic Development Coordinator Parrish stated over the past few months, the Economic <br />Development Authority and the Economic Development Commission have evaluated and made <br />several revisions to Mounds View’s Tax Increment Finance Policy. He indicated the primary <br />change is an addition to the Policy related to the establishment of Tax Increment Financing <br />Districts, the use of pooled funds, which are commonly referred to as excess increment, and <br />procedures related to parcel decertification. He stated the Policy also includes a revised tool for <br />evaluating the desirability of particular projects, and a sample for analysis.