Laserfiche WebLink
nnMtN,UTES,FQWTHE EDAsMEETING,O,FSEPITFEMBEW12 2014; <br /> 44rcalled the•meeting to order.at 8-3)0 am. <br /> PRESENT: Arcand, Bever, Denaway, Graff, and Puleo <br /> ABSENT: Miron and Klein <br /> STAFF: Mike Ericson, City Administrator <br /> Bryan Bear, Community Development Director <br /> Rachel Juba, Planner <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF AUGUST 8, 2011 <br /> Arcand made motion, Denaway seconded, to approve minutes for the EDA meeting of <br /> August 8, 2011. <br /> All aye. Motion carried. <br /> PATRICK FLANAGAN- FLANAGAN LAW OFFICE <br /> Patrick Flanagan was present at the meeting to discuss his business that will be locating <br /> in Hugo in October. He will be moving into the building located at the south east corner <br /> of 147th Street and Highway 6l. Mr. Flanagan talked about the background of his <br /> business and why he chose Hugo as a place to locate his business. The EDA welcomed <br /> Mr. Flanagan and his business to the City of Hugo. <br /> OVERVIEW OF 2005 NIAXFIELD STUDY <br /> At its August meeting, the EDA asked staff to provide a summary of the 2005 Maxfield <br /> Study on the downtown area. Staff provided the executive summary in the packet for the <br /> EDA's review and presented some of the highlights to the EDA in a presentation. Ntost <br /> of the information is still relevant but, maybe a few years off. The full version of the <br /> study can be found on the City's website. <br /> DISCUSSION ON TIF DISTRICT <br /> Staff provided background on the TIF district in regards to the request and certification. <br /> The City has Eve years from the date of certification to spend money in the district. Staff <br /> continues to promote the TIE district. <br /> There has been declining value in the district. This means that the district has not created <br /> any increment. The values would need to increase for any increment to be created. There <br /> may not be any money available for the first projects in downtown. The TIF district may <br /> need to be reevaluated at the time the first project proceeds. There are alternatives for <br /> incentives, i.e. abatements. There is nothing wrong with leaving the TIF district the way <br /> it is. [t is not helping us right now, but not hurting. <br /> Denaway stated that he feels we need to keep the district in place and that maybe the first <br />