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MINUTES FOR THE EDA MEETING OF SEPTEMBER 12, 2011 <br />Miron called the meeting to order at 8:30 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 61. 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 MAXFIELD 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. Most <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 five years from the date of certification to spend money in the district. Staff <br />continues to promote the TIF 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. It 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 />