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HomeMy WebLinkAbout09-22-2003PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting September 22, 2003 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:30 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: Stigney, Quick, Marty (arrived at 6:33 p.m.) Gunn, and Linke NOT PRESENT: None. 3. APPROVAL OF AGENDA MOTION/SECOND: Gunn/Stigney. To Approve the September 22, 2003 Agenda as Presented. Ayes – 4 Nays – 0 Motion carried. 4. APPROVAL OF EDA MINUTES A. August 25, 2003 Minutes Commissioner Marty requested the following change: Change Council Members to Commissioners. MOTION/SECOND: Quick/Gunn. To Approve the Minutes of August 25, 2003 as Presented. Ayes – 5 Nays – 0 Motion carried. 5. CONSENT AGENDA None. 6. EDA BUSINESS A. Public Hearing on the Adoption of a Revised Tax Rebate (Abatement) Finance Policy and Application for Development or Redevelopment in the City of Mounds View. President Linke opened the public hearing at 6:35 p.m. Mounds View EDA September 22, 2003 Regular Meeting Page 2 Economic Development Coordinator Backman indicated that the EDC met and discussed the Policy on September 19, 2003 and then reviewed with the Authority the changes coming out of that meeting. Economic Development Coordinator Backman indicated that Vice President Stigney had brought up at the August meeting a price in excess of fair market value and the EDC has agreed to include this back in section d. Economic Development Coordinator Backman indicated that the tax rebate financing applicant submits a completed application and a non-refundable application fee. He then indicated that application fee is now for professional and technical services. Economic Development Coordinator Backman indicated that if the EDA incurs additional expenses directly related or for professional or legal services beyond the $1,000 the City shall notify in writing and the applicant will be required to deposit additional fees. Vice President Stigney indicated he felt that this policy should reflect the fact that the City would prefer to use TIF first and TRF when TIF is not an available option. Commissioner Quick indicated he approved of the document as presented. Commissioner Gunn asked why the language on TIF should be in the policy. Vice President Stigney indicated that the City loses money when using TRF and he would prefer using TIF because the City captures all the money. Economic Development Coordinator Backman indicated there are some restrictions on abatement for example the most is $100,000 or 5% of the City’s levy and with TIF there is no limit. He then commented that there are a lot more reporting requirements with TIF than there are with TRF. Vice President Stigney indicated the City would garner a lot more money from TIF than from TRF. Economic Development Coordinator Backman indicated that typically there are more dollars generated for the recipient under TIF than under tax abatement. Commissioner Marty commented that the TIF have sunsets on them so they will be closing. Commissioner Gunn asked which one benefits the entity applying TRF or TIF. Mounds View EDA September 22, 2003 Regular Meeting Page 3 Economic Development Coordinator Backman indicated that in terms of assistance the TIF assistance is a larger dollar amount on average. Commissioner Gunn asked how often this TRF policy is used. Economic Development Coordinator Backman indicated the City is still waiting for its maiden use. He then said that it has only been in existence for a few years and it is seeing more use in other communities as TIF restrictions have gotten greater. President Linke suggested adding wording under policy purpose after the first paragraph on Page 3 that “it is desirable that TIF financing be utilized in lieu of TRF whenever possible if it can be shown to be beneficial to the City to do so. President Linke closed the public hearing at 6:53 p.m. MOTION/SECOND: Marty/Gunn. To Waive the Reading and Adopt the Tax Rebate Finance Policy and Application. Vice President Stigney suggested that the City require the applicant to meet two of the objectives listed on Page 5 rather than just one. MOTION/SECOND: Stigney/Marty. To Amend the Tax Rebate Finance Policy and Application to Require that the Applicant Meet Two of the Objectives Listed on Page 5. Ayes – 4 Nays – 1(Quick) Motion carried. Ayes – 5 Nays – 0 Motion carried. 7. REPORTS Economic Development Coordinator Backman indicated that the developer has submitted building plans for Highway 10 north of the theatre and has scheduled a ground breaking for Monday, September 29, 2003 at 11:00 a.m. Commissioner Gunn asked for an update on the Amoco site. Economic Development Coordinator Backman indicated a number of plans are being reviewed for the site and noted that the property owner to the south of Amoco may need to acquire a strip of land of approximately 20 feet in width to accommodate parking and develop the site properly. 8. NEXT EDA MEETING: October 13, 2003 Mounds View EDA September 22, 2003 Regular Meeting Page 4 9. ADJOURNMENT President Linke adjourned the meeting at 6:56 p.m. Respectfully submitted, Recorded and transcribed by: Joan Lenzmeier TimeSaver Off Site Secretarial, Inc.