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City of Centerville <br /> EDA Meeting Minutes <br /> December 5,2018 <br /> IV. BILLS AND COMMUNICATIONS <br /> 1. Bills <br /> (a) None <br /> V. REPORTS <br /> 1. None <br /> VI. OLD BUSINESS <br /> 1. Review Business Incentive Revolving Loan/Grant Program <br /> Administrator Statz reviewed the Business Incentive Revolving Loan/Grant Program and asked if <br /> there were any comments on its specific language or general structure. The consensus of the board <br /> was that they were comfortable with the overall structure but would like to see the program focus <br /> on external improvements to businesses, and lean away from funding things such as interior <br /> remodels, and marketing campaigns. <br /> No official action was taken on this item. Staff will work with the city attorney to customize <br /> language to the city of Centerville and bring a more formal draft back for consideration at a future <br /> meeting. <br /> VII. NEW BUSINESS <br /> 1. EDA Powers and Tools Presentation (Northland Securities—Tammy Omdal, <br /> George Eilertson) (This item was handled immediately prior to Old Business, <br /> on the agenda) <br /> Administrator Statz introduced guests from Northland Securities; Tammy Omdal and George <br /> Eilertson. Mr. Eilertson began the presentation with a general introduction to the topic and then <br /> yielded to Ms. Omdal. Ms. Omdal spoke from a PowerPoint presentation which outlined various <br /> economic development tools at the disposal of an EDA. Then, she spent extended time on Tax <br /> Increment Financing (TIF). She presented various types of TIF districts, explained eligible <br /> expenses and discussed how districts may be drawn, and the appropriate lengths (in years) of <br /> districts. <br /> Administrator Statz asked questions regarding the anticipated development of Block 7, in the <br /> downtown and whether there may be an opportunity for a TIF district to help finance certain <br /> expenses. <br /> This agenda item was only for information and discussion. No formal action was taken. <br /> Page 2 of 3 <br />