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<br />EDC Minutes <br />August 15,2007 <br />Page 2 of6 <br /> <br />Ed Von Holtum indicated his displeasure with building "up" as it is not esthetically pleasing. <br />Nancy asked if we should address the building "up" issue. Community Development Director <br />Barton said the zoning ordinance would address this issue. <br /> <br />Section 3: Mayor Harpstead suggested taking "TIP" out of the title and also to moving E, H, I, <br />and N to the end as he feels this would help the developer focus on the proj ect rather than the <br />overhead associated with it. Community Development Director Barton said this list came from <br />other business finance policies and it's out of the TIF statute and indicated the items the Mayor <br />suggests we move are talked about later in the document. Ray asked for clarification of the <br />document and asked if we are offering financing only, or if we are offering TIP financing <br />specifically. Community Development Director Barton indicated the whole document addresses <br />different subsidies and not just TIP subsidizing. Community Development Director Barton said <br />by using the word "may" in this section it protects the City. Jim asked if Ehlers will be <br />reviewing the document and Community Development Director Barton reiterated that yes they <br />would. Rob asked if we are talking about a TIP policy only. Karen reiterated this document <br />encompasses varied financing. Jim asked if grant financing carries restrictions. Community <br />Development Director Barton indicated all grants are different and they do have restrictions. <br />The Mayor pointed out that this policy may not be able to cover the EDA because they are a <br />separate legal entity. Community Development Director Barton indicated this policy is a guiding <br />policy and is not meant to be a directive. Ed Von Holtum indicated from his experience EDA's <br />become active when there is a lot going on in a City. The Mayor pointed out that at this time, the <br />Council and EDA are comprised ofthe same people. <br /> <br />Section 4: Ray suggested using wording such as "TIF or other financing assistance" so that we <br />encompass other financing. Nancy suggested language in this section should reflect "new" <br />applicants. Rob noted that the word "must" is used in the second sentence and is concerned that <br />if the City finds a proj ect that is not consistent with the document but the City is interested in the <br />project, would the City's hands be tied as far as financing. He would prefer to get eliminate the <br />word "must". Nancy noted finance applications must be consistent with the document so she <br />thought "must" should stay. Community Development Director Barton indicated the Finance <br />Policy can always be amended if necessary, but the Comprehensive Plan is meant to be a plan for <br />to guide the city's development over the next 10-20 years. Rob asked if this document is meant <br />to be encouraging or restrictive and he thought by using words like "must" it makes it seem <br />restrictive. Jim reminded the group that this document would not come into play unless the <br />applicant requests financing from the City. Ed Von Holtum said the policy seems broad to him <br />so there are a lot of openings for applicants to qualify for this financing. The Mayor thought <br />"must" in Paragraph "c" is something the City is legally required to do any way so he thinks it <br />should stay. Ray asked why we have "minimums" rather than "desires". The Mayor said we <br />have "minimums" because we do have state requirements that must be followed. Jim said he <br />sees the document as protecting the City as well. Nancy suggested adding language that <br />indicates that Council review may be required. Ray noted as well that he doesn't see anywhere <br />in the document that the application has to be approved by the Council and he suggested adding <br />words that any application must be approved by the Council. The Mayor indicated he is <br />