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MINUTES FOR THE EDA MEETING OF AUGUST 21, 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 />City Administrator Mike Ericson, CD Director Bryan Bear, CD Intern Rachel Simone <br />APPROVAL OF MINUTES <br />Arcand made motion, Granger seconded, to approve the minutes for the EDA meeting of July 17, <br />2006 as presented. <br />All aye. Motion Carried. <br />POA-SCHERER & COLLABORATIVE DESIGN GROUP — POSTAL CREDIT <br />UNION <br />POA -Scherer, LLC and Postal Credit Union requested approval of a Preliminary Plat and <br />PUD General Plan to construct a 5,000 -square foot bank with drive-through tellers on a <br />1.62 acre lot located west of Festival Foods across Victor Hugo Boulevard. The Planning <br />Commission held the public hearing at its August 10, 2006 meeting and voted <br />unanimously to recommend approval. <br />Staff will showed elevations of the building and the Postal Credit Union representatives <br />were present to talk about the bank and answer any questions the EDA had. CD Intern <br />introduced the President of the Postal Credit Union, Russel Plunkett. Mr. Plunkett talked <br />about the bank and why they decided to located the credit union in Hugo. Patricia Kamas <br />the business development manager of the credit union gave a power point presentation <br />and talked about the community involvement of the credit union. <br />The EDA welcomed the Postal Credit Union as a new business in Hugo and liked the <br />involvement that the Postal Credit Union in other communities. Granger asked if the <br />credit union would only be for postal workers. Mr. Plunkett stated that it is open to the <br />public. <br />Arcand made a motion, Klein seconded to recommend approval of the Preliminary Plat <br />and PUD General Plan for Postal Credit Union. <br />All ayes. Motion carried. <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 />