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M:\MasterFiles\EDC Minutes-Resolutions\EDC Minutes\2000\12-01-00.doc
Minutes of the Economic Development Commission
City of Mounds View
Ramsey County, Minnesota
Regular Meeting
December 1st, 2000
City of Mounds View, Council Chambers
2401 Highway 10, Mounds View, MN 55112
1. CALL TO ORDER:
The meeting was called to order at 7:30 a.m. by Chairperson Tom Field.
2. ROLL CALL:
Members Present: Dr. Greg Belting, Cindy Carlson, Tom Field, Torri Johnson, Rosemary Goff, Sean
Walther, Wendy Marty, and EDA Liaison Dan Coughlin.
Members Absent: None
Staff Present: Community Development Director Jim Ericson, Economic Development Coordinator
Aaron Parrish, and Finance Director Bruce Kessel
3. APPROVAL OF MINUTES:
Motion/Second: Walther/Carlson moved to approve the minutes for September 27th 2000.
Motion Carried: 7 Ayes 0 Nays
4. SPECIAL BUSINESS
Chair Field welcomed Jim Ericson, the newly appointed Community Development Director. Chair Field also
welcomed Mayor-Elect Rich Sonterre.
5. REPORT OF COMMISSIONERS, STAFF AND EDA LIAISON
A. Commissioner and EDA Liaison Reports
There were no Commissioner or EDA Liaison reports:
B. NB~MV Chamber of Commerce Update
Commissioner Belting discussed the “Manufacturers Week” event held at Irondale High School. He also
indicated that the Chamber is currently collecting books for its 4th Annual Chamber Book Drive.
C. Term Expirations / Commission Vacancies
Coordinator Parrish indicated that three terms would be expiring on the Commission at the end of the
year. EDA Liaison Coughlin and Mayor-Elect Sonterre indicated that letters have been sent out to
existing Commission members asking them to re-apply if they are interested.
D. Next Meeting
M:\MasterFiles\EDC Minutes-Resolutions\EDC Minutes\2000\12-01-00.doc
Coordinator Parrish asked the Commission when it would like to meet next. It was the consensus of the
Commission that they meet on Friday January 26, 2001.
6. EDC BUSINESS
A. Use of Pre-1997 Interest Earnings
Coordinator Parrish indicated that the EDA requested the EDC to review potential options for the use of
interest earned on pre-1997 TIF funds. He informed the Commission that the OSA has determined that
these funds are not encumbered with the same rules and restrictions commonly associated with TIF. The
Commission was presented with the following preliminary options:
1. Establishing a fund to provide for any future safety improvements, infrastructure, and/or redevelopment
associated with County Highway 10.
2. Establishing a fund for variety of future economic development and housing projects / improvements
throughout the City. This could include a revolving loan fund, funding for economic development once the
current TIF districts expire, housing programs and replacement, mobile home park revitalization, or a
range of other activities.
3. Transfer revenue to existing funds such as the General Fund or Special Revenue Funds including the
Cable TV, Community Center, DARE, Park Dedication, Special Projects (Street Reconstruction etc…),
Street Light, Surface Water, Vehicle and Equipment, and the Lakeside Park Funds. Additional revenue
would then be used to expand the activities of the designated fund.
4. Keep pre-1997 interest earnings in existing TIF funds to be spent on TIF eligible activities.
5. A combination of the aforementioned options.
6. Other suggestions including reduction of the franchise fee.
After discussing possible uses for the pre-1997 interest earnings, it was determined by the Commission
that the funds should be transferred before the end of the year into a newly created Economic
Development Fund, but not spent until Highway 10 priorities and funding needs are more clearly
articulated, an Economic Development Plan has been adopted, and the OSA has had the opportunity to
review the transfer.
After reviewing potential options for the funds and considering the financial implications to the existing TIF
funds, the following motion was made:
Motion/Second: Carlson / Johnson moved to recommend transferring all interest earned on TIF funds prior to
July 1st, 1997 into a newly created Economic Development Fund before the end of the year. Further, it was
recommended that the funds not be spent until Highway 10 priorities and funding needs are more clearly
articulated, an Economic Development Plan has been adopted, and the OSA has had the opportunity to review
the transfer.
Motion Carried: 7 Ayes 0 Nays
7. Adjournment
There being no further business before the Commission, this meeting of the Economic Development
Commission adjourned at 8:44 a.m.
Respectfully Submitted,
Aaron Parrish
Economic Development Coordinator