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it would be significant by anybody's measurement. He stated average rebates will be in the range • of $700 to $1,500, depending upon the size of family, expenditures, and so forth. He stated some could be as low as $500 and some could be as high as $5,000, however, on average across the state, for a couple of million taxpayers it will be approximately $1,000. Senator Novak stated approximately 1.2 billion dollars in permanent expenditures has been made in the area of K-12 education funding. He stated the Mounds View School District 621, will benefit from this significantly, as will all school districts in the state on the (perfutifully?)formula which is the uniform payment by the state to school districts throughout Minnesota. He stated there were a variety of special factors in the formula, based upon the way school districts are constituted, and how their tax base is structured. He stated that Mounds View would also benefit from this. Senator Novak stated the Legislature had gone into this year facing a significant deficit, and will come out of the year essentially in balance. He stated they are moving forward, which is a very positive thing. Senator Novak reported he was involved directly in a number of issues that affected the local area, and one of these has statewide significance. He stated it was a rare opportunity to be involved in what he would calla "Mega-Project," which relates to the significant expansion of Medtronic in the neighboring community of Fridley, which would dominate the north suburban skyline for the next generation. He stated this expansion would lead directly to the doubling of employment in Minnesota by Medtronic of 4-8,000 jobs. He stated the average wages would be $55,000 per job. He stated this was significant hi-tech growth, presented by a local company, which they are all familiar with, that has grown to worldwide stature. He stated Medtronic had options to relocate, however, chose to stay, not only m Mlnnesota, but also m the northern suburbs. He stated rt took several changes in law to put this package together. He stated this involved the extension of the existing TIF Districts in Fridley, as well as special changes in law related to the environment in regard to the impact upon Moore Lake. He stated, additionally, there were changes in law related to the Department of Transportation and freeway exit and entry ramps, and a coordinated effort in conjunction with the Ventura Administration, the Republican House and the Democratic Senate. He stated this represented the best of what can happen with combinations of political philosophies all understanding the importance of making some changes to allow a major project to go forward. He stated that many will benefit from this directly, however, it is clearly a project of the scope of half a dozen projects he could recall in 25 years with the state, in terms of public policy combining with the private sector to go forward. Senator Novak stated they would see some increases in local government aid formulas in terms of the state's relationship to all levels of local governments; cities, counties and schools, and a variety of special factors related to the metropolitan area. He stated this was a significant Legislative Session by any historical standard, and one that all Minnesotans can feel good about. He stated all Minnesotans will benefit from personally, directly, and collectively, in terms of the communities across the state, as well as in regard to state public policy, in terms of continuing a coordinated bi- partisan, now tri-partisan effort to position Minnesota's economy for the 21S` Century. • 15 C:\ADMIN\MINUTES\CC\8-09-99.CC