EDC 09-29-2004 - Laserfiche WebLink

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~ . "1\~HILLS CITY OF ARDEN HILLS, MINNESOTA ECONOMIC DEVELOPMENT COMMISSION OCTOBER 20, 2004, 7;00 A.M. CITY HALL 2ND FLOOR CONFERENCE ROOM, 1245 WEST HIGHWAY 96 Those in attendance: Chair Beverly Aplikowski, Vice Chair Bruce Kunkel, Commissioners Chris Asbach, Kevin Kelly, Ray McGraw, Jim Paulet, Ed Werner. Scott Clark, Community Development Director and Stacie Kvilvang from Ehlers and Associates. Absent: Commissioner Dale Beane excused. The meeting came to order at 7:00 a.m. Commissioners Werner and McGraw introduced themselves to the group. Mr. Clark gave a brief introduction ofTCAAP's history, the Vento Plan, the land use planning process leading to the current draft Framework Plan and the Early Transfer process. Mr. Clark also stated that the Council approved the group's charge of "Reviewing the need for the TCAAP project to receive economic development assistance and the affect on the community as a whole." . To start the process of understanding the tools of economic development assistance, Ms. Kvilvang, Ehlers and Associates, gave a very detailed presentation. All Commissioners were given a book illustrating the power point, summary pages, tax increment law, tax abatement principles, and special service district legislation. In addition, a discussion was held on grants and speciallegisJation as additional redevelopment strategies. A general discussion on various technical points was held between Ms. K vilvang, staff and the Commissioners as the presentation was made. Some of the key points made during the discussion centered on how assistance, especially through tax increment, can be limited or be constructed to be a benefit to the community. Since the propcrty is currently tax exempt, the creation of a "base value" will allow the City's general fund to participate in revenue sharing, fiscal disparities election, the types of districts, duration and removal of parcels prior to district expiration, tax increment vs. tax abatement, legislative restrictions on use and bonding strategies. The EDA's next two meetings will center on hearing presentations from communities that are actively involved in redevelopment projects that are using economic development assistance as a source of financing. Meeting adjourned at 9:00 a.m. .