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