2005.04.18 CC Minutes - Joint EDA Meeting

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MINUTES FOR THE JOINT EDA/CITY COUNCIL MEETING OF APRIL 18, 2005 Mayor Miron called the meeting to order at 8:30 am. COUNCIL PRESENT: Granger, Haas, Petryk, Puleo, Miron STAFF: City Administrator Mike Ericson, CD Director Bryan Bear, and Intern Tom Denaway EDA PRESENT: Janice Arcand, Theresa Charpentier. Phil Klein, Nick Skarich, Jim Bever, Mike Granger, and Fran Miron EDA MEETING OF MARCH 21, 2005 Granger made motion, Klein, to approve the March 21, 2005 EDA meeting minutes as presented. All aye. Motion Carried. UPDATE ON MEETING OF BEIP SUBCOMMITTEE At its last meeting, the EDA directed the BEIP Subcommittee to prepare and distribute Requests for Proposals for the development of Lot 1, Block 1 of the Bald Eagle Industrial Park. The RFP has been posted on the Minnesota Commercial Realtors Property Database and the League of Minnesota's webpage, additionally the RFP was mailed to a list of 56 developers. CD Director Bear provided the Board with an update on this project. CDBG SUBCOMMITTEE MEETING WITH COMMISSIONER HEGBERG At its last meeting the EDA directed staff to schedule a meeting with the CDBG subcommittee, Washington County Commissioner Hegberg, and Citizen Advisory committee member Bo Bogatty. On April 14, 2005, they met City staff, Mayor Miron, EDA Vice President Phil Klein, and Jane Harper from the county. Jane informed the group that there were numerous excellent projects this year, more than ever before. Mayor Miron agreed that it was important to meet to bring the county up-to-date on the City's project and focus on downtown redevelopment. PRESENTATION FROM SPRINGSTED INC. ON TAX INCREMENT FINANCING At its last meeting, the EDA directed staff to schedule a joint City Council/EDA workshop with the City's Financial Advisor Springsted, Inc., and the City's bond counsel Briggs and Morgan, to discuss the use of Tax Increment Financing (TIF). Paul Steinman and Mikaela Huot of Springsted and Mary Ippel of Briggs and Morgan presented Council and the EDA with a PowerPoint presentation explaining TIF and they answered questions. City Staff is seeking Council and EDA direction regarding the use of TIF. Mary Ippel explained the merits of an interfund loan resolution. Granger made motion, Bever seconded, to recommend this to the Council at its next meeting. EDA - All aye. Motion Carried. After continued discussion about the merits of creating a TIP District, Council and EDA agreed to appoint a TIF Subcommittee: