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• <br /> SUMMARY <br /> It is my understanding that Mr. Seibert, Mr. Hall and Mr. Berndt will be present at the EDC meeting <br /> on Thursday to answer any questions that you may have about any aspect of the proposed project. <br /> Ideally, the EDC will then be prepared to discuss the project and make specific recommendations <br /> that can be conveyed to the City Council at its work session on 2-I-99, and/or at its regular meeting <br /> on 2-8-99 (which will be the next time that formal action could be potentially taken on the proposed <br /> Development Agreement). The EDC's discussion should (at a minimum)address the following <br /> points: <br /> I. What are the benefits that this project would (or could) provide to the City of Mounds View, <br /> and do those benefits justify the type and amount of City financial assistance that the <br /> Developer has requested? <br /> 2. Has the Developer demonstrated a need (as opposed to a mere desire)for the City's <br /> financial assistance, or alternatively, does a mechanism exist to ensure that the need in <br /> question will have to be adequately demonstrated before any City financial assistance is <br /> 411 actually provided? <br /> 3. Is there sufficient evidence that the Developer and its principals have made, or will be <br /> required to make, significant financial, legal and personal commitments to the project, thereby <br /> helping to ensure the project's ultimate success? <br /> 4. What are the risks that the City might face in connection with a project of this type, and have <br /> adequate steps been taken to either eliminate such risks or reduce them to acceptable levels? <br /> I have not prepared a proposed Resolution for your review at this time. I'm not sure which issues the <br /> EDC will want to "formally" address on Thursday, nor can I predict the position that the EDC will <br /> take on those issues. However, I will be prepared to work with you to craft a Resolution "on the <br /> spot" that accurately reflects the views/thoughts/opinions/recommendations that you want to convey <br /> to the City Council regarding these matters. I encourage you to contact me by phone prior to <br /> Thu •:y's mee ' _ ' you'd like more background information regarding any of the relevant issues. <br /> f _vin Carrot . 12-717-40 9) <br /> Economic Development Coordinator <br /> • <br /> N:\DATA\GROUPS\ECONDEV\EDA-EDG\O I 2898B.MEM <br /> ■ <br />