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HomeMy WebLinkAbout04-25-2005PROCEEDINGS OF THE MOUNDS VIEW EDA CITY OF MOUNDS VIEW RAMSEY COUNTY, MINNESOTA Regular Meeting April 25, 2005 Mounds View City Hall 2401 Highway 10, Mounds View, MN 55112 6:00 P.M. 1. CALL MEETING TO ORDER 2. ROLL CALL: Gunn, Flaherty, Marty and Thomas NOT PRESENT: Stigney. 3. APPROVAL OF AGENDA MOTION/SECOND: Flaherty/Gunn. To Approve the April 25, 2005 Agenda as presented. Ayes – 4 Nays – 0 Motion carried. 4. PUBLIC INPUT Duane McCarty, 8060 Long Lake Road, referenced the Consent Agenda, Item A, the Closed Executive Session scheduled for this evening to discuss the potential sale of the golf course property and asked if anyone else, besides the City Council, would be in attendance. He asked if anyone, such as a potential buyer, would be present and whether this is a meeting to determine the asking price or to actually negotiate the sale of the property. President Marty acknowledged Mr. McCarty’s concerns and clarified that the intent of the meeting is for City Council discussion. He assured Mr. McCarty that no potential buyers would be present at the closed Executive Session meeting. 5. APPROVAL OF MINUTES A. EDA Minutes March 28, 2005 MOTION/SECOND: Thomas/Flaherty. To Approve the Minutes of March 28, 2005 as presented. Ayes – 4 Nays – 0 Motion carried. Mounds View EDA April 25, 2005 Regular Meeting Page 2 B. EDA Minutes April 11, 2005 Commissioner Gunn stated that on page 1, line 26, a word missing the letter ‘e’. It should read ‘Dave Jahnke asked if they would ‘be’ able to ask questions…’ President Marty noted that he did not attend the April 11th meeting but did review the tape. He clarified that Mary Burg spoke before the public hearing was closed and her comments were not reflected in the minutes. He stated that Ms. Burg’s name is misspelled throughout the minutes and should be changed from ‘Berg’ to ‘Burg’. MOTION/SECOND: Thomas/Flaherty. To Approve the April 11, 2005 Minutes as amended. Ayes – 3 Nays – 0 Abstain – 1 (Marty) Motion carried. 6. CONSENT AGENDA A. Schedule an Executive Session immediately following the April 25, 2005 City Council Meeting to discuss and consider the sale of real property commonly known as The Bridges Golf Course, and a buyout offer of the billboard signs (Verbal Report). MOTION/SECOND: Gunn/Thomas. To Approve the Consent Agenda as presented. Ayes – 4 Nays – 0 Motion carried. 7. EDA BUSINESS A. 6:05 pm. Continuation of the April 25, 2005 Public Hearing for the purpose of considering the proposed sale of land comprising The Bridges in the City of Mounds View to Medtronic, Inc. President Marty stated that this is primarily an informational session to answer questions that came out of the last EDA meeting. He asked the public to limit their comments to three minutes each noting that the meeting has been extended 7:45 p.m. because of the time constraints they experienced at the last meeting. He stated that this public hearing would be continued at the next EDA meeting and would be before City Council on Monday, May 9, 2005. He stated that he has had discussions with City Clerk/Administrator Ulrich and based on these discussions an additional, open EDA meeting would be scheduled, at a later date so that they would not have any time constraints due to the City Council meeting. City Clerk/Administrator Ulrich explained that Staff and Council have reviewed the questions and compiled answers that would be reviewed this evening. He stated that Ehlers and Associates Mounds View EDA April 25, 2005 Regular Meeting Page 3 are present this evening to provide the Commission and public with an overview of the golf course numbers, how much money is generated through the billboards and its future financial value to the City. He clarified that this meeting is to review the golf course numbers noting that numbers associated with the Medtronic project would become public and discussed at a future EDA meeting. City Clerk/Administrator Ulrich reviewed the following questions and provided clarification and answers: • Question: Clarify the percentage of taxable properties in tax increment districts. o Answer: Currently 16.9% for 2005 and 21.53% in 2004. • Question: How much do TIF districts gain when it goes into tax increment? o Answer: City Clerk/Administrator Ulrich explained that it does not go directly to the General Funds in support of the community. He stated that last year $1.8 million was tax increment\tax capacity and the prior year was $1.58 million. He stated that Tax Increment District 1, which covers the southeast area of the City and the Industrial Park area, expires in 2013, District 2 expires in 2015 and District 3 expires in 2014. • Question: What are the percentages if the Medtronic project numbers are added to the proposed development. o Answer: City Clerk/Administrator Ulrich stated that Medtronic would be 24.5%. He stated that no decisions have been made with respect construction costs noting that the tax increment would be subjected to a cap. • Question: Where do they rank in terms of the highest percentage and TIF? o Answer: City Clerk/Administrator Ulrich stated that the City of Mounds View is ranked 1st in the State for TIF noting that in terms of percentages the City was ranked 1st for 2005. • City Clerk/Administrator Ulrich clarified that the Bridge is part of TIF District 3. He indicated that the Legislation proposes to expand the district up to four districts to accommodated the subsequent phases of Medtronic. He indicated that 40-acres would be deeded to the City with the provision that the land would be used for public purpose. He stated that Legislation would remove the requirement to allow sale of the property. • Legislation Update: City Clerk/Administrator Ulrich explained that the Capital Bonding Bill is necessary for the improvements required for County Road J, the Interchange and Airport Road. He noted that the monies for the project are included in the current Capital Bonding Bill, if the project goes through. • Question: Is it possible for property to be developed without tax increment. o Answer: City Administrator Ulrich confirmed stating that it is possible to develop this site without tax increment. He stated that it is expensive but not prohibitive to do the project without tax increment funding. He stated that it would cost approximately $400,000 to bring water and utilities to the site noting that Medtronic would pick up the costs within the site. • Question: What are the sources of funding? Mounds View EDA April 25, 2005 Regular Meeting Page 4 o City Clerk/Administrator Ulrich indicated that the likely sources for funding would include the current tax increment pool; tax increments generated by the site in terms of fees; and capital funds from the Enterprise Funds. He stated that there would not be any interruptions to the businesses located along County Road J during the construction. He stated that the Franchise fee, which is estimated to be $80,000, is approved annually by the City Council adding that there is no guarantee that it would continue for the 25-year timeframe. • Question: Costs to provide Police and Fire services to the property. o Answer: City Clerk/Administrator Ulrich stated that in reviewing the spreadsheets the initial costs to provide service would be approximately $30,000 with an additional $50,000 in administrative costs, over time, to service approximately 3000 employees. He noted that Medtronic has an onsite security force, which would help reduce costs. • Question: How much has been spent so far exploring and researching this project. o Answer: City Clerk/Administrator Ulrich stated that the City has spent $221,000. He stated that 60-percent of the cost relates to the development of the project and land surveys and 40-percent is specifically for Medtronic to run the numbers for the project. • Question: What is the status on the Billboards? o City Clerk/Administrator Ulrich stated that they are currently in negotiation for the best deal for the City in terms of the least cost. He noted that of the 72 acres from MnDOT, 32 acres is currently transferable and they have title for the land. He stated that over the last couple of years the City has been reviewing options to enhance the City. He stated that one of the issues has been the golf course because of the situation it was in prior to the revenue it gained from the billboards. He stated that at this time, in reviewing the Medtronic proposal, the City is emphasizing this. He assured the Community that the City is not pursuing anything else at this time due to the ongoing negotiations. City Clerk/Administrator Ulrich stated that there has been some discussion about the possibilities of Phases 2 and 3 of the Medtronic project being developing in Blaine. He noted that Medtronic has indicated that it is their desire to also develop the Phase 2 and Phase 3 campuses in Mounds View, as there would not be a tax increment back to the developer if developed in Blaine. He stated that there would be a significant park dedication of $600,000 proposed for the project that would be donated by Medtronic to the Park Dedication Fund. He indicated that $160,000 of the funds would be used for the former Cisco property. He stated that the Concepts are available to the public for review noting that it includes both the walking trails and the environmental park. City Clerk/Administrator Ulrich stated that this hearing is one of several that will be held on this issue. He emphasized that a decision has not yet been made. He stated that Staff is keeping the best interest of the City at heart while working through the process with Medtronic. He clarified that the City Council provides direction to Staff throughout the negotiation process and are a part Mounds View EDA April 25, 2005 Regular Meeting Page 5 of the final decision. City Clerk/Administrator Ulrich stated that the City first learned of this development in July 2004 when the City was first approached with the proposal. He stated that Medtronic indicated that they found serious problems with the development of the site in New Brighton two to three months before approaching the City of Mounds View. He stated that he does not know if negotiations are occurring at other sites. Jerry Linke, Former Mayor, asked how much staff time has been devoted to this project. City Clerk/Administrator Ulrich stated that over the last month staff has devoted approximately 1400 hours noting that Director Ericson has devoted a significant amount of time to the project but the majority of hours involved a variety of staff members. City Clerk/Administrator Ulrich stated that the plan is to review the golf course numbers, get feedback from the Community; and determine the current situation. He stated that once they know all of the development numbers and can compare, an analysis would be done. He stated that the results of the analysis would be discussed at future meetings. Stacy Kilvang, Ehlers and Associates, provided the Commission and Community with a brief background, history and update on the financing of the golf course. She stated that they have designated as an Enterprise Fund that would be self-sustaining with the hopes of bringing cash and dollars back to the City funds. She stated that there is a need to be realistic and conservative when forecasting the budget in addition to knowing and understanding the market. She stated that, as a City, they should try to determine where the golfers are coming from and also determine how to stay competitive. She noted that golf is a weather dependent sport and the best dates are May through August. She stated that the golf course opened in 1995, financed with revenue bonds. She explained that it was found that the revenue generated was only covering operating costs and was not sufficient enough to also pay off the debt. She stated that in 2002 and again in 2004 a billboard was negotiated with Clear Channel to help offset the debt. She stated that in 2002 the City began to offer an interfund loan, which will be in effect from 2002 to 2012, to help cover the operating losses. She explained that an interfund loan does increase annually noting that the intent, in theory, is to have the City interfund loan paid in full by 2018. She provided the Commission with a historical overview of the gross revenues from 1995 through 2004 noting that they are seeing a trend, from 2002 to 2004, showing an increase in the revenues. She indicated that it is falling short by a little noting that that the billboard and the interfund loan are what is making the City flush. She noted that the loan was large in 2002/2003 stating that it would decrease annually until it is finally paid back in 2018. She stated that the most realistic projects come from reviewing the bottom line best-case scenario noting that they are currently reviewing 2019 and 2033 and again at the end of the 25-year term. She indicated that they have retained earnings each year noting that this is a cash balance brought forward that must be kept in a reserve account until paid. She provided the Commission with an overview of the operating revenue and expenses noting that they are under budget by approximately Mounds View EDA April 25, 2005 Regular Meeting Page 6 $3500.00. She stated that one item not accounted for or considered is the major capital improvements that would be needed over time. She explained that City Council would have to make decisions on the financing for these improvements as they come up in the future. She stated that at the end of the term, 2033, it shows a projected $6.4 million would be retained in earnings. She stated that while weighing the pros and cons of the future they have discussed what would happen to the property when it goes from an exempt status to a taxable status noting that the County Assessor would be required to obtain a current market value of the property. She stated that the base value breakdown, tax generated back to city, shows a base property value $7.2 million. She explained that this value comes from Ramsey County records and provided the Commission with an overview of the total base tax generated and the breakdown to the City General Fund, School Funds and Other Tax Jurisdictions. President Marty opened the public hearing at 6:42 p.m. President Marty stated that the Commission would try to answer questions tonight, if not, answers would be provided at the next meeting. Jerry Linke stated that for someone to say that he is anti-business and anti-development is far from wrong. He commended City Clerk/Administrator Ulrich for the good job on his clarifications and asked for a copy of his report. He acknowledged that the City has a very tough decision to make noting that currently they have nothing to go on to make that decision. He urged the Commission to review other Communities to see how they have addressed these concerns. He stated that the City of Fridley did an Economic Feasibility Study to determine the benefits of having Medtronic in their area and found there were no benefits for the Community. He asked why they are placing TIF on a company that has more money in their slush fund than the City does for it’s own operating expenses. He noted that the current TIF districts are all for a fifteen year timeframe because most buildings would require remodeling at the end of a fifteen year period. He referenced the billboards and proposals and asked if there is a way that the Community could find out the proposed numbers being discussed. He referenced the statement that Blaine would not give Medtronic TIF for Phases 2 and 3 and asked if the $167,000 is what is generated for a year in taxes or does this occur later. City Clerk/Administrator Ulrich explained that the numbers are based on the base value of the land being frozen from tax exempt to taxable property. He stated that it would net the City approximately $167,000. Barbara Haake, 3024 County Road I, thanked the Commission and Ehlers Associates for the opening presentation. She stated that she appreciates hearing the facts and figures noting that she is currently neutral on the issue. She stated that she is waiting to get all the facts before making a full statement about the project and acknowledged receiving emails from Sherry and Roger. She referenced Fridley noting that it was eluded to that the Assessor wanted to assess Medtronic $132 per square foot, so Medtronic went to Anoka County, who offered an assessment of $109 per Mounds View EDA April 25, 2005 Regular Meeting Page 7 square foot. She stated that it is her understanding that Medtronic wants an assessment of $80 per square foot and capped. She asked if this would be included as part of the negotiating notice. She asked what happened to the 10-percent Park Dedication Fee and would the 10-percent be paid in land or cash. She asked if the $167,000 would be used to place trails around Cisco and would the trails be open to the public for use. Aaron Ojard, 11361 North 6th Drive, stated that he has been serving in the Navy for ten years now noting that he learned to play golf as a young boy at the Bridges. He stated that the discussions should also include the tangibles that Medtronic can’t offer, which is the ability to offer families time together. He noted the talk that the market is saturated in this area with respect to Par 3 courses in this area and asked the Commission what course he could take his son to where he would not be harassed for playing too slow. He stated that The Bridges is a family- oriented course and encouraged the Commission to keep family activities in mind when making their decision. Duane McCarty, 8060 Long Lake Road, noted that it appears the City is doing a considerable amount of number crunching after decisions have already been made. He referenced the numbers and estimates noting that he has done a bit of his own research. He stated that according to the last report issued by the League of Minnesota Cities, the City of Mounds View’s TIF history, as it compares to other Cities, has been very high. He stated that in the latest report, 2003, it shows that the City is still staying in the upper numbers as far as tax capacity tied up in TIF. He asked what the golf course’s worth would be in terms of a recreational facility and as a quality of life issue. He stated that it is his assumption that the revenue from the billboards would get the golf course into a position of self support noting that the Commission should also consider what would happen with Silverview Park if the billboards don’t bring in enough revenue to cover the maintenance. He stated that if the City can reasonably retain the golf course he urged the Commission and City to do it. Peter Martin, 21902 Parkwood Drive stated that he has been playing competitive golf in the PGA circuit for many years noting that as he plays competitive golf around the State people do ask where The Bridges course is located. He congratulated them stating that they have a wonderful golf course that they have managed to find a way for it to be economically viable. He stated that this is a golf course where seniors can play juniors, men and women together and young children can learn the sport of golf. He expressed his agreement with Mr. Ojard that the children are the future for golf and the Community. He stated that this is the best and highest use of the land and urged the Commission to keep that way. Tom McKay, 2625 Hilde Road, stated that the golf course was primarily built as a community course noting that the City is now trying to extract a profit from tax dollars. He stated that he does not agree with this process noting that the golf course creates jobs for the community whereas Medtronic would employ the same people regardless of their location. Dave Mitchell, 5493 Quincy Street, stated that he has lived in this area all of his life and likes Mounds View EDA April 25, 2005 Regular Meeting Page 8 where The Bridges is located. He stated that it is not a Par 3 course but is one of the longer courses in the metro area. He stated that he enjoys The Bridges due to the length of the course. He acknowledged that the project would bring some revenue to the City adding that it would also bring an increase in traffic. He expressed concerns about the amount of traffic this project could generate noting that for a company of this size, there a many nice locations along the highway that are already vacant and available for purchase. He expressed frustrations stating that it was his thought that the City wanted green space and it appears that with this project they are now getting rid of it. He encouraged the Commissioners to consider the value of open space adding that he does not see this project creating any jobs specifically for Mounds View. He stated that the park Medtronic proposes to develop appears to be for their employees and asked if the public would be able to take advantage of the park too. He stated that access to the proposed park would be difficult and encouraged the Commission to keep the golf course. He stated that he couldn’t see giving away the store to one of the wealthiest companies in the country. Shannon Meyer, 11363 ?? Lane, President of the Twin Cities Local Chamber of Commerce, stated that the facts show that golf courses provide a quality of life not found anywhere else. She stated that the State of Minnesota has one of highest number of golf courses, per capita, in the nation noting that the supply of golf courses has been outpacing the demand for play and this trend is expected to continue. She explained that the Twin Cities North Chamber collected information on the courses in the north metro and found, over a five-year period, that the number of rounds played has declined by 19.5-percent, on average. She noted that The Bridges is 50% more, on an average; over the other courses adding that part of the information shows that 27- percent of the golfers come from Mounds View. She stated that there are enough golf courses throughout the metro area that address all golfing needs noting that the National Sports Center recently built a youth golf course and experienced a total of 7800 participants last year, with 67- percent of that total being youth golfers. She provided the Commission with a brief overview of the curriculum. Dick Timmer stated that his daughter, Katie Timmer, is a special Olympian. He stated that his daughter, along with friend Mike Madden of St. Anthony Village, have found a true home at The Bridges. He stated that the golfing community at the Bridges has been very good to both Katie and Mike noting that they are both State Champions in the State’s Top Division. He explained that they have both practiced at The Bridges for the past four years noting that some things are priceless and it is his belief that The Bridges is one of those things. He urged the Commission to keep the golf course noting that the environment has always been a very welcoming to them. Katie Timmer stated that The Bridges is a huge part of her life and relationship for her and her father. She stated that there is a really great guy at The Bridges that always makes if fun for her to golf and practice. She stated that golf is a good, but difficult sport adding that she does not want to see The Bridges leave because she loves to golf. Bruce Foley, 662 Village Parkway, Circle Pines, stated that the Blaine golf course is fabulous but doesn’t compare to The Bridges. He explained that what makes The Bridges so special is the Mounds View EDA April 25, 2005 Regular Meeting Page 9 combination of the executive nature of the course and the family-oriented golf experience one can get with their children by walking the course. He urged the Commission to keep family in mind when making decisions regarding this course. Wendy Marty 2626 Louisa Ave, Mounds View, stated that golf provides an individual an opportunity to learn many qualities including honesty, integrity, etiquette, sportsmanship, respect, confidence, responsibility, perseverance, courtesy and judgment. She stated that a study was done that shows 50-percent of all children, after participating in a golf program, tend to show a higher level of confidence. She urged the Commission to keep this in mind when making their decision. Jeff Burnham, 5180 North Lexington, stated that he takes his grandchildren golfing on a regular basis. He stated that he took his grandson to the Blaine course last year and found that it was a very difficult course for children to walk. He expressed his disappointment at the rude behavior displayed towards them by some of the golfers at the course while they were playing. He stated that he loves the Blaine course but it is not a good spot for children. He stated that five of the Par 3 courses in St. Paul area suburbs have closed in the recent past noting that the choices for children-friendly Par 3 courses has become very limited. John McKusick, 8465 Eastwood Road, asked if the City of New Brighton had decided against the Medtronic project due to ground water issues and asked if the City has performed any soil tests in the area and if they have, do they have the results. He stated that he has five grandchildren; all of them have played at The Bridges and enjoyed the experience. He stated that they have also played the Blaine course noting that the distance between holes is a considerable distance for children to walk. Valerie Amundsen, 3048 Wooddale Drive, Mounds View stated that in reviewing the proposals it appears that the City is giving up a lot, including their quality of life. She expressed concerns stating that this project would bring a lot of additional traffic, not to mention the increase in the wear and tear on the roads. She stated that they want to give up something that means a lot to the Community noting that $600,000 in Park Dedication Fees does not seem to be enough for what they are giving up. Brian Amundsen 3048 Wooddale Drive, Mounds View, asked the Commission to clarify the 1400 hours of work done by Staff on this project. He asked if the hours span over a six or eight month period and did it involve more than one staff member. City Clerk/Administrator Ulrich stated that the hours span over an eight-month period of time and involved several staff members. Mr. Amundsen noted that the proposed timeline suggests a September start time and asked how many more times this issue would be open to the Residents for discussion with the EDA and City Council. He asked if the actual timeline for the project was available for public review. He Mounds View EDA April 25, 2005 Regular Meeting Page 10 noted that it is his assumption that the EDA and City Council would have to approve the sale of public property or assets, which would include additional hearings. He asked if the timing for notification to the public and scheduling of the public hearings has been determined. He asked if there are any conditions, under the current charter, that allows the public to begin initiatives to keep the golf course or park, as allowed under Chapter 8. He asked if City Council would be faced with trying to locate new property to build a golf course and what is the plan for increasing the size of Red Oaks Road. Daniel Hall, 12860 Beaver Street, Blaine, stated that he believes the only reason Medtronic approached Mounds View is because of the street leading straight up to the golf course. He asked if Medtronic approached the City or if the City had approached Medtronic. President Marty stated that Medtronic approached the City with their proposal. Mr. Hall stated that businesses like his; located around Medtronic; do get spin-off business from Medtronic. He stated that there is a trickle down of dollars spent in the Community by Medtronic employees noting that he has nothing against the golf course except for the fact that it has been subsidized by programs and is still losing money. He stated that it is prudent for the City to review realistic scenarios and the costs for the City noting that stewardship of the City should be to determine how they City could best serve the Community. He stated that as far as Medtronic and the TIF dollars, 99-percent of the TIF dollars are given to TIF districts by businesses in order to entice other businesses to come into the area. He stated that as a businessperson, he is supportive of Medtronic coming to Mounds View and it is up to the City to determine where the dollars should go. President Marty clarified that funds have never been taken from the General Fund to subsidize the golf course and it has nothing to do with the pensions. Jim Wilson, 7025 Pleasant View Drive, asked who would be responsible for the costs to mitigate the land in the golf course, the City or Medtronic? City Clerk/Administrator Ulrich stated that Medtronic would be responsible for the mitigation of the wetlands on the property adding that this is part of the eligibility requirement. Jim Manthis, 9664 Juniper Street Northwest, Coon Rapids, stated that he is interested in preserving The Bridges Golf Course noting that golf has always been a part of his life. He stated that this is his 40th year in the golf business and has served on the National PGA Board of Directors and knows the benefits of golf for everyone. He stated that when he describes the type of facility The Bridges is to friends they are impressed by what they hear and it creates their interest for one in their Community. He stated that he would support the Medtronic project if someone could prove to him that this is an overwhelmingly good deal for the City but at this point, he has yet to see the benefits and will continue to fight for The Bridges. Tim Mazzoni, 1520 23rd Avenue Northwest, New Brighton, stated that he speaks as an advocate Mounds View EDA April 25, 2005 Regular Meeting Page 11 for children and youth. He referenced the National Youth Center course and expressed concerns and suggested that the Commission walk the youth center course and ask themselves is the course truly designed for youth, as they state, or is it designed more for use by High School Golf teams. He asked the Commission to consult an SRI Study done in 2002 noting that there is a case that golf works, youth in golf works and the program at The Bridges works well for a lot of children. He urged the Commissioners to think hard about the issues and what they have before they make any decisions. George Weinberger, 8011 Eastwood Road, stated that he is 20-years old and a product of the youth program at The Bridges. He stated that he participated in their first youth program and also in the high school programs. He stated that it was explained to him that when he entered the voting process it was the way for him to choose the people he wanted to be his voice. He stated that they are running a City, not a business and asked them not to lose such a precious asset to the City. John Ewing 10953 Xylite Park Lane stated that he treasures The Bridges. He stated that it is his understanding that a deal has already been made to get the golf course paid for and asked shouldn’t a deal be a deal. He stated that the City of Mounds View has given the Community a beautiful golf course that provides people with the opportunity to enjoy the amenities and meet new people, which is a precious experience that cannot be taken away from anyone. He stated that if a deal has been made they should stay with it noting that they are on the right track with Clear Channel. Ray Ramirez, 2273 Irondale Rd, asked if a survey regarding the golf course would be distributed to the residents in Mounds View. He stated that he is in favor of the golf course and expressed concerns that many of the people speaking in support of the golf course tonight are from other areas. He stated that he would like the residents of Mounds View to have the opportunity to discuss the issues further and agreed that it is a beautiful sport for children. Duane McCarty, 8060 Long Lake Road stated that it would be helpful if the City offered the Community more information. He stated that they do not have to mitigate the wetlands in Mounds View as it can be mitigated in any Watershed district they want to as long as they meet the mitigation requirements. He referenced the survey stating that one has already been done by Decision Resources and in the survey, it is the same number of people who said ‘sell’ that are the same who also say ‘if it isn’t costing, keep it’. He stated that he would like to see a solid number from Ehlers and Associates that projects the value of the golf course, along side comparisons of what would happen if the land were TIF’d and the actual value of the land. He asked if they are jumping too soon to divest themselves of this asset noting that land is going up in valued and would continue to escalate in value. He stated that he would like to know what the professionals would say the value of the land would be by the time the golf course has paid off its’ obligations and also at what point do they think the citizens would question what was decided here. Mounds View EDA April 25, 2005 Regular Meeting Page 12 Cindy Weinberger, 2322 119th Circle, Blaine, stated that she is employed with The Mermaid. She stated that she has heard so much about the positive effects for the youth in this community and the benefits gained by the golf course and asked how much of the taxes generated at the golf course go back to benefit the schools and how much money would Medtronic put back into the schools. She stated that in her opinion education in the schools is much more valuable than any sport. Mr. Linke stated that currently it is non–taxable and none of the money would go back to the School District. He stated that the schools would not receive any funds if it goes to TIF for a twenty-five year period either. Ms. Kvilvang, Ehlers, clarified that this is not entirely true noting that as discussed, the property is tax-exempt. She stated that with respect to the schools, there are referendums out there and if Medtronic were built they would be paying on the tax rates from the referendums. President Marty closed the public hearing at 7:40 p.m. President Marty stated that this public hearing would be continued at the May 9, 2005 EDA meeting. MOTION/SECOND: Gunn/Thomas. To Approve the motion to continue this discussion to the May 9, 2005 EDA meeting. Ayes –4 Nays – 0 Motion carried. 8. REPORTS None. 9. NEXT EDA MEETING: Monday, May 9, 2005 at 6:00 p.m. 10. ADJOURNMENT President Marty adjourned the meeting at 7:45 p.m. Respectfully submitted, Recorded and transcribed by: Bonnie Sullivan TimeSaver Off Site Secretarial, Inc.