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Mounds View City Council August 22, 2005 <br />Regular Meeting Page 22 <br />An audience member asked about the locations of the phases. Director Ericson used a site map <br />to identify the location of the buildings in Phases 1, 2 and 3, the parking ramp, and surface <br />parking areas. <br />Mr. McCarty asked if there will be additional business subsidies for Phases 2 and 3. Director <br />Ericson stated the business subsidies being considered relate to Phase 1. <br />Mr. McCarty asked if it is a "given" and that opportunity is preserved to allow for additional <br />business subsidies for future phases. Director Ericson stated the contract under consideration <br />relates only to Phase 1 and does not tie this or future Councils to subsequent TIF or subsidy for <br />this project. <br />City Attorney Riggs explained the current contract only covers Phase 1 and the financing for <br />Phase L Any other financing request would have to stand on its own and be compliant with <br />State law. <br />Mr. McCarty stated the current contract indicates that future subsidies will not be unreasonably <br />withheld for Phases 2 and 3. He asked if this Council is signing the contract with that proviso <br />included. <br />City Attorney Riggs stated the Council will not bind itself at this point in time and any request <br />made would have to follow the same process with a public hearing and the butlfor test would be <br />implicated. He stated that is the general concept that is being considered. <br />Mr. McCarty asked if the commitments of this Council cannot be held to future Councils. <br />Mayor Marty stated if Phase 1 is approved and Medtronic comes in, then the City will want <br />Phases 2 and 3 to also be constructed on Mounds View property to capture all the taxes <br />potentially available at some date and time. <br />Mr. McCarty asked how that effects the decertification possibilities in the future if one business <br />subsidy is being piling on top of another. Mayor Marty explained that they would not tie together <br />and could run currently. <br />Mr. McCarty stated the 25 year term that citizens are being told of could be something much <br />different. <br />Mayor Many explained that Phase 1 stands on its own and when paid off, that District would be <br />decertified. If they create Phase 2, that has the potential to stand on its own unless they do <br />Phases 2 and 3 together. <br />Mr. McCarty stated the contract refers to additional future business subsidies and he believes that <br />• Medtronic will be back in 2012 saying they want another business subsidy, which means another <br />TIF extension. <br />