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RHRA Meeting <br />Minutes – Monday, August 29, 2016 <br />Page 8 <br /> <br />her reason in seeking a minimum threshold was to protect the value and tax <br />base for a project receiving a subsidy, but agreed this would hold it better. <br /> <br />Member Etten stated he was not in favor of the minimum value per square foot <br />threshold as it could vary with development. However, Member Etten spoke <br />in support of the minimum assessment agreement for long-term protection of <br />the taxpayer investment. <br />Member Laliberte spoke in support of the minimum assessment agreement to <br />protect value of the development. <br /> <br />President Roe stated he had trouble setting a minimum value per square foot, <br />for many of the same reasons noted by Member Etten. In reviewing current <br />values, President Roe noted retail values were high; and he didn’t want to have <br />a policy in place to help retail. Therefore, President Roe stated he would <br />support a minimum assessment agreement as an excellent way to protect those <br />values. <br /> <br />Member Etten stated his agreement with the majority. <br /> <br />Without objection, President Roe concluded the REDA had determined that <br />the policy would provide for no minimum value square foot, but would pursue <br />a minimum assessment agreement. <br /> <br />Ratio of Public versus Private Investment and Leveraging Resources <br />Ms. Kvilvang noted most cities didn’t put this in their policy, but staff included <br />the information in their staff reports to the REDA when any request came <br />forward. <br /> <br />Member McGehee stated her preference if subsidizing buildings, that they <br />included an improvement over current stock, whether for housing or any other <br />development coming forward. <br /> <br />Member Laliberte agreed, referencing past projects that sought too much <br />public assistance, with outside investigations concurring with the city’s <br />assessment. <br /> <br />Commercial Targeted Sectors (above black line on displayed slide) Included in <br />Policy <br />Ms. Kvilvang noted those preferred areas for commercial development (e.g. <br />corporate campus; office; small, non-retail business; non start ups but under <br />fifty employees; multi-tenant buildings; high-tech or major manufacture; <br />research and development; medical offices or facilities) that received priority <br />status from the REDA. <br /> <br /> <br />