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HRA Meeting Minutes – Wednesday, January 29, 2014 Page 8 1 that under an EDA, the City would have more autonomy for financial assistance, which 2 reverted back to the question of whether the community wanted their elected officials making 3 those decisions on how to loan or expend those dollars, suggesting that this was where the real 4 discussion would fall. 5 6 Chair Maschka opined that business retention and networking was not the real issue, but when 7 funds were loaned for expansion purposes, this would be the real issue. 8 9 Member Quam noted that vacant storefronts were a grueling problem in some communities, 10 and having the ability to improve that situation would be a great tool to have. However< 11 Member Quam noted that, over the most recent economic crisis for retail businesses adjacent 12 to Rosedale and within the community, with minimal closures and vacancies seen, her sense 13 was that the City had survived that quite well during the 2007-2009 crisis years. From that 14 perspective, Member Quam questioned how likely it was that the City would need the EDA 15 tool. 16 17 Members Willmus and Majerus agreed that this was an excellent point made by Member 18 Quam. 19 20 Member Willmus opined that the City of Roseville was retail-based. 21 22 Chair Maschka concurred, noting that retail was constantly reinventing itself. 23 24 Chair Maschka asked Ms. Kelsey to include this discussion on the next joint meeting agenda of 25 the City Council and HRA, as well as asking the HRA Attorney to attend that meeting to 26 answer any technical questions. 27 28 10. Information Reports and Other Business (Verbal Reports by Staff and Board Members) 29 30 a.Dale Street Update 31 Ms. Kelsey provided a brief overview of the Dale Street project, with realtors interviewed this 32 week; and anticipating coming to the HRA’s February meeting with design concepts to seek 33 HRA agreement with that new concept. Ms. Kelsey noted that several units were removed 34 from the original designs, as requested by residents and the HRA. However, Ms. Kelsey noted 35 that this new concept design will require a Zoning Code text amendment. Following the 36 February HRA meeting, Ms. Kelsey advised that another neighborhood meeting would be 37 scheduled that same week to start the rezoning process, along with a multitude of subsequent 38 items, including a preliminary and final plat, then construction to start on site. Ms. Kelsey 39 advised that a dual application process was anticipated to meet construction season restraints. 40 Ms. Kelsey noted that both the City Council and HRA would be involved to address property 41 ownership. 42 43 At the request of Member Quam, Ms. Kelsey advised that the project representatives would 44 provide an update on their financing, and anticipated going before the City Council at the end 45 of February to talk about their financing plan and financial assistance (TIF) needed. Ms. 46 Kelsey advised that there may be some unused pooled tax increment financing funds that could 47 be applied; with the City Council discussion including a potential TIF District amendment if 48 they were agreeable to the plan and budget, which would reimburse the City and the HRA for 49 land acquisition. 50 51 Chair Maschka noted that, if the approximate $1.2 million in TIF funds were not expended this 52 year, they would be allocated to the three taxing jurisdictions. 53 54 55