Resolution 05-EDA199 - Laserfiche WebLink

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Mounds View EDA January 14, 2005 Special Meeting Page 4 opportunity, and that the Council should fully pursue it to whatever means they can. He stated that the whole purpose of TIF money is for economic development, and what larger project could there be in Minnesota right now than this particular project. President Marty stated that that was true, but they had had that experience with NCR where the City had spent a lot of money when they didn't have a purchase agreement, and NCR had gone elsewhere. He stated his concern that Medtronic would go elsewhere if the State decided they couldn't expand the bridge from two to four lanes going across 35W. Vice President Stigney stated that it was important to get this appraisal for any potential development on this site, whether it was Medtronic or another company. Commissioner Flaherty stated that this was being done for Medtronic. Vice President Stigney stated that the AUAR would be good for 20 years. Commissioner Flaherty stated that he had no problem with the AUAR because they needed to see what the potential of that area was. He stated he was looking for something concrete. Vice President Stigney stated that what is concrete is how much this project would increase the tax base for Mounds View. He stated that right now they are getting absolutely nothing. Commissioner Flaherty stated he was not against this project; he just wanted to see more information on it. Economic Development Director Backman stated that they are trying to get that information as quickly as possible. He stated that other developers have approached the City, and he has interacted with them and provided them with information. He stated if the project with Medtronic didn't go through, he would be negotiating with others. He stated that the State is seriously looking at the interchange of 35W and County Road J, and they have awarded a $100,000 contract for doing additional evaluations encompassing that intersection. President Marty stated that the increase in City taxes was due in large part to the government assistance cuts and the referendum for the police officers. He stated that there are hard decisions that the Council has to make, and they are trying to figure out ways to ease the tax burden in Mounds View. He stated that if this particular deal doesn't work, probably just an update on this appraisal would need to be done in the future at a nominal cost. City Administrator Ulrich stated that this is an action that is more specific to Medtronic because it's at their request. He stated that the meeting on January 3rd was really the first time the Council had had an opportunity to hear about this proposal in more detail. He stated that this may or may not be valuable for a future project. He stated that they want to know what their risk