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HomeMy WebLinkAbout03-24-2003PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting March 24, 2003 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:32 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: Stigney, Marty (arrived 6:44 p.m.), Gunn and Linke NOT PRESENT: Quick. 3. APPROVAL OF AGENDA MOTION/SECOND: Gunn/Stigney. To Approve the Agenda for Monday, March 24, 2003 as Presented. Ayes – 3 Nays – 0 Motion carried. 4. APPROVAL OF EDA MINUTES A. March 10, 2003 Minutes MOTION/SECOND: Gunn/Stigney. To Approve the Minutes of March 10, 2003 as Presented. Ayes – 4 Nays – 0 Motion carried. 5. CONSENT AGENDA None. 6. EDA BUSINESS A. Discuss Properties on County Road H2 Potentially Available for Redevelopment. Economic Development Coordinator Backman reviewed his Staff report with the Authority explaining each of the potential scenarios for redevelopment. Vice President Stigney asked where the money would come from if the proposal is to use TIF funds because he understood there were no funds in the TIF fund. Mounds View EDA March 24, 2003 Regular Meeting Page 2 Economic Development Coordinator Backman indicated that the last bond payment for TIF District 1 was made February 1, 2003 and that would free up $1,000,000 in increment for other TIF projects. He then commented that the City needed to show the state that the City has ongoing projects or the state would encourage the City to decertify districts. President Linke indicated that there may be a lot of hurdles to using TIF funds. Economic Development Coordinator Backman indicated that Staff discussed the matter and there are ways to structure the financing and use TIF funds but he is not sure that it would work. Vice President Stigney asked if it would be part of a TIF district. Economic Development Coordinator Backman indicated there are ways to structure it and then briefly reviewed some of the regulations. President Linke indicated he would lean toward the third scenario as there are a lot of opportunities out there. He then said he thinks the land would go quickly with interest rates down and there is less chance for the City if the City works with the property owner to solicit a developer to purchase the land rather than the City purchasing it and attempting to sell it. Vice President Stigney indicated a fourth option would be to let the property owner sell it himself rather than have the City get involved and assume any risk. He further commented that he does not favor the City purchasing the property at all and especially not at that price. Economic Development Coordinator Backman indicated the difference between two years ago and now is there is a willing seller who is interested in working with the City. Economic Development Coordinator Backman commented that a larger area is more attractive to a developer and he spoke to another resident who may be interested in selling some of his property if there is a real proposal from a serious and respectful developer. Commissioner Gunn indicated the third option does discuss the City purchasing. She then said she agrees with the third option but wants a private developer to purchase the property not the City. Vice President Stigney indicated he did not want the City to stick its neck out for a bunch of roads and infrastructure. Commissioner Marty said that he had great confidence in the ability of Mr. Backman and feels that if anyone can market the total property he feels Mr. Backman can do so. Mounds View EDA March 24, 2003 Regular Meeting Page 3 President Linke indicated that the Authority wanted to continue exploring the options surrounding scenario three and asked Staff to work with the property owner on the matter. Vice President Stigney indicated he would be willing to look at it but does not want to provide direction until he has the facts on how much it will cost the City. 7. REPORTS None. 8. NEXT EDA MEETING: March 24, 2003 9. ADJOURNMENT President Linke adjourned the meeting at 6:55 p.m. Respectfully submitted, Recorded and transcribed by: Joan Lenzmeier TimeSaver Off Site Secretarial, Inc.