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MINUTES FOR THE ECONOMIC DEVELOPMENT AUTHORITY MEETING OF <br />OCTOBER 17, 2005 <br />The meeting was called to order by Mayor Fran Miron at 8:30 am. <br />Present: Arcand, Klein, Bever <br />Absent: Miron, Granger, Skarich, Charpentier <br />Community Development Director, Bryan Bear <br />Community Development Intern, Andrew Gitzlaff <br />2. EDA MEETING OF AUGUST 15, 2005 <br />The EDA did no <br />3. SITE PLAN REVIEW FOR PEARSON MECHANICAL INC. <br />At the July 18, 2005 EDA meeting the EDA recommended that the City sell the 3.3 acre <br />property located in the Bald Eagle Industrial Park to Pearson Mechanical Inc., owned by <br />Ronald A. Pearson. Pearson Mechanical Inc. was one of two businesses that were <br />selected to acquire the City property in the park through the Request for Proposal (RFP) <br />process initiated by the EDA. Pearson Mechanical Inc. has since submitted a preliminary <br />site plan for review by the EDA as part of the conditions of approving the final purchase <br />agreement. City staff requests that the EDA review and comment on the preliminary site <br />plan. <br />3. PRESENTATION FROM THE SCOTT MARTIN FROM THE TWIN CITES <br />COMMUNITY CAPITAL FUND ON ECONOMIC DEVELOPMENT <br />FINANCING SOURCES <br />Scott Martin from the Twin Cites Community Capital Fund (TCCCF) gave a presentation <br />about the organization and the benefits members receive from participating in the fund to <br />the EDA and Council. The TCCCF is a nonprofit economic development loan fund. <br />Communities that join the fund are eligible for low interest loans, gap financing, and other <br />financial incentives. The EDA and Council thanked Scott Martin for coming to the <br />meeting and suggested that the EDA and the Council evaluate the materials in order and <br />make a recommendation at the next EDA meeting on whether or not to participate in the <br />program. <br />4. UPDATE OF AUGUST 23, 2005 MEETING OF THE TIF SUBCOMMITTEE <br />City staff, Mikaela Huot and Paul Steinman of Springsted, and the subcommittee met on <br />August 23, 2005. Subcommittee member Theresa Charpentier was unable to attend. The <br />following items were discussed at the subcommittee meeting: 1.) The procedural <br />requirement that must be followed during the initial district testing phase in order to meet <br />state qualifications for the establishment of a TIF redevelopment district. 2.) The <br />