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Mounds View City Council May 29, 2001 <br />Regular Meeting Page 15 <br />Economic Development Coordinator Parrish indicated that the primary use for TIF money is for <br />improvements to City infrastructure and to support development and redevelopment within the <br />City. <br />MOTION/SECOND: Quick/Sonterre. To Waive the Reading and Approve Resolution 5567, a <br />Resolution Approving Plans and Specifications, Advertising, and Bid Date for Project 01-06, <br />Edgewood Middle School Regional Pond. <br />Council Member Thomas indicated that the Resolution needed to state a maximum amount for <br />costs. <br /> <br />Economic Development Coordinator Parrish explained that an EDA resolution could be drafted <br />to dedicate the funds. <br />Council Member Thomas clarified that the wording of the Resolution allows for $94,580 of City <br />dollars. <br />Economic Development Coordinator Parrish indicated the EDA would need to designate the TIF <br />funds. <br />Council Member Quick asked City Attorney Riggs for clarification. <br />• City Attorney Riggs indicated the Resolution does not have all the funding sources identified and <br />suggested adding another line stating the other funding sources or changing the number in the <br />Resolution. <br />Council Member Thomas stated she was leery of approving the Resolution without knowing <br />what other costs will be incurred and how those will be paid for. <br />Economic Development Coordinator Parrish indicated the Resolution would enable Staff to send <br />the matter out for bids. <br />City Attorney Riggs asked if Staff intended to use TIF funds for the other costs. He then asked if <br />Staff could increase the dollar amounts in the Resolution. <br />Council Member Stigney stated he felt the Resolution should more accurately reflect what <br />Council is approving. He then indicated as elected officials he feels Council should be more <br />prudent when spending money. He further indicated that the developer receives a benefit from <br />the pond and should be asked to contribute. <br />Council Member Marty stated he thinks that, since the costs have gone up, the developer and <br />property owners who will benefit from the pond should be approached and asked to contribute. <br />r~ <br />~~ <br />