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MINUTES FOR THE EDA MEETING OF JANUARY 16, 2007 <br /> EDA Vice President Phil Klein called the meeting to order at 9:30 am. <br /> PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Mike Granger, Phil Klein, and Fran <br /> Miron <br /> City Administrator Mike Ericson, CD Director Bryan Bear,Associate Planner Rachel <br /> Simone <br /> ABSENT: Brian Thistle <br /> APPROVAL OF MINUTES EDA MEETING OF DECEMBER 18,2006 <br /> Granger made motion, Denaway seconded, to approve the minutes for the EDA meeting of <br /> December 18, 2006 with the change of members absent. <br /> All aye. Motion carried. <br /> UPDATE AND DISCUSSION ON TIF DISTRICT <br /> Staff has completed the necessary tests to determine if the proposed TIF District will <br /> qualify. The proposed TIF District will qualify and has met the coverage and building <br /> inspection tests as outlined in Minnesota State Statutes. Staff attached a map of the <br /> proposed TIF District. <br /> Staff has been working with the TIF Subcommittee and Springsted to develop details for <br /> the policy and application for the entire TIF District. The policy includes requirements <br /> for a development to meet before it can qualify for TIF. Attached to the packet was the <br /> draft TIF policy that was revised by the subcommittee and Paul Steinman from <br /> Springsted. <br /> The TIF application is a process by which the City can evaluate a project to see if it will <br /> qualify for TIF. The applications will be graded by completing the application review <br /> worksheet. From the evaluations of the worksheet the city will determine if the project <br /> qualifies to receive TIF and the term the project will receive. <br /> Staff has been working with the TIF Subcommittee to develop a plan for the downtown <br /> to include what the EDA would like to see in the area along Egg Lake. Staff attached a <br /> map of the area across from City Hall and along Egg Lake to help demonstrate the area <br /> we have potential to work with. The EDA discussed what kind of development they <br /> would like to see in the downtown area. The next step in the process is to schedule a <br /> public hearing at a City Council meeting within the next couple of months. This will <br /> provide the public a chance to present feedback to the City Council about the TIF <br /> District. <br /> Associate Planner stated that the tests do meet the qualifications to establish a TIF <br /> District and introduced the TIF policy to the EDA for review and comments. She stated <br />