03-13-2006 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 March 13, 2006 projects. A revised Micro Loan Fund Policy and Application will be presented at the EDA's April meeting for adoption. President Gongoll suggested staff research possible grant opportunities for ADA compliance. 6. Discuss Draft Amendments to Cit~~'s Tax Abatement Policy and Application Ms. Mehelich provided a summary of significant staff amendments to the Tax Abatement Policy and Application. President Gongoll stated that the EDA's intent is to make the polity and application cleaz and understandable. He felt that the point system based on per square foot mazket value may penalize some industrial users as compared to commercial buildings. Community Development Director Scott Clazk asked if the EDA would like to use two different values (present and future) for presenting Abatement applications to the EDA . President Gongoll stated that may be the only fau way to do it. Commissioner Motin inquired about the possible impact of legislation regarding State Statute 469.1813 on the City's Tax Abatement Polity. Ms. Mehelich stated she was not aware of any proposed legislation affecting the use of tax abatement, but will research this issue. Ms. Mehelich stated that the policy will be amended and brought back for EDA adoption in April or May. Update on Development Fomm Assistant Director of Economic Development Heidi Steinmetz stated that to date eight people have akeady signed up for the Development Forum scheduled for Wednesday, March 29, from 9:00 -10:30 a.m. 8. Discuss Proposed Banker's Fonun Ms. Mehelich noted that staff proposes to host the Banker's Forum to be scheduled for Wednesday, May 24 from 7:30 - 9:30 a.m. at Blackwoods in Otsego. The Banker's Forum will provide an opportunity for staff to present the various financing tools the City offers along with the MN Community Capital Fund. 9. Other Business President Gongoll expressed thanks to Ms. Steinmetz for hex work in assisting K-Netica in their search for space in Elk River. 10. Adjournment There being no other business, PRESIDENT GONGOLL ADJOURNED THE MEETING.