02-26-08 EDC Meeting Minutes - Unsigned

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EDC Minutes February 26, 2008 Page 8of10 Chair Kunkel asked if in a community like ours, where we have significant employers, would it be advantageous to keep the number at a lower level. If we do, are there down sides to having a lower number. Ms. Kvilvang stated the majority of the cities keep the number to a minimum level to provide for the maximum flexibility. A City is only bound by the minimum. Ms. Kvilvang reviewed surrounding communities' minimum levels. Ms. Kvilvang noted the business subsidy document includes the issue of figuring out land values and requiring appraisals to be commissioned which are paid for by the developer. Nancy noted this document was to be reviewed by 3 different parties and asked if all those groups have had that opportunity at this point. Ms. Kvilvang indicated this is not the final document and it will be submitted to the City Attorney and TIF Attorney for a final review. Nancy indicated she feels the whole document is geared to TIF. Ms. Kvilvang indicated the document is generic enough that tax increment, abatement, etc. can be used. She also indicated this policy applies only to new businesses coming into the City. Councilmember Holden asked how non-monetary items are reflected in the document, such as lowering the landscaping requirements. Ms. Kvilvang indicated density is not part of the document — only items that have a monetary value. Discussion ensued regarding how appraisers are chosen. Ms. Kvilvang indicated most cities have a preferred list of vendors they use and appraisers are usually on this list. Nancy noted when she read the document she felt it was geared to large developments and not necessarily small ones. Ms. Kvilvang expressed she thought the document is generic enough that smaller development should be able to come in and meet the criteria as well. Nancy asked if the document is making it too restrictive for a smaller developer. Ms. Kvilvang indicated she thinks it is generic enough for smaller developers. Chair Kunkel asked what the next steps would be for this document. Asst. City Administrator Simon noted additional research is required on his part and he will try to have that research done shortly. This research will all be brought to the group as well for their view. Ms. Kvilvang asked if the group wants to see the information on what surrounding cities are doing for their minimums. Chair Kunkel indicated from his standpoint that yes he would like to see this information. Nancy agreed as well. Asst. City Administrator Simon indicated the end of April is about the rough timeline of when the group can expect to see the document back in a final form for their review.