2006.08.21 EDA Packet - Laserfiche WebLink

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MINUTES FOR THE EDA MEETING OF SEPTEMBER 18,2006 EDA President Fran Miron called the meeting to order at 8:30 am. PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Mike Granger, Phil Klein, Fran Miron, and Brian Thistle ABSENT: None City Administrator Mike Ericson, CD Director Bryan Bear, CD Intern Rachel Simone APPROVAL OF MINUTES Klein made motion, Granger seconded, to approve the minutes for the EDA meeting of August 21, 2006 as presented. All aye. Motion Carried. PREMIER BANK CD Intern gave an overview of Premier Bank moving into the building formally occupied by Lake Area Bank located at 14815 Forest Blvd. They are planning on doing some maintenance of the building but for the most part it is staying the same. Staff invited the representatives from Premier Bank to come talk to the EDA about the bank and their community involvement. The Staff recommended the EDA welcome Premier Bank as a new business in the community. Bill Miller the Vice President of the bank was present and gave a presentation on the background of the bank and their community involvement. He asked the EDA to let him know if there were any community projects the bank could be involved in. He also stated that their grand opening would be October 12th-16th. Miron stated that the building that Lake Area Bank was in was intended for a temporary use and that a permanent Premier Bank would we welcomed by the City. The City Administrator stated that there many opportunities in Hugo for community involvement. DISCUSSION ON TIF DISTRICT ESTABLISHMENT Staff has been working closely with Paul Steinmen of Springsted and Mary Ippel on the calculations to establish a TIF District. Staff attached a map of the proposed TIF District that highlights the buildings that meet and do not meet the required 15% code deficiency threshold determined by building inspections. Also the building department has done some preliminary assumptions about the buildings that the city has not inspected and if