3.1 03-03-2013 HR MIN - Laserfiche WebLink

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Housing&Redevelopment Authority Page 2 March 4,2013 • After EDA's investment,increase of 86%in employment (from 354 full-time employees to 657) • Four most recent TIF projects original taxable market value was $3.6 million; currently is $47.2 million • Investment of$7.9 million in most recent TIF projects;every dollar invested by EDA induced over five dollars of private investment. Commissioner Chuba asked what the time span was for the data. Mr. Wilfahrt stated 2004 to 2008. He noted that there has not been a project since 2008,and the data does include Granite Shores. Chair Wilson asked if the HRA projects are included. Mr. Wilfahrt stated yes. Chair Wilson asked which TIF district was decertified. Mr. Wilfahrt stated that King and Main Street project has been decertified. Commissioner Motin asked what the current assessed valuation was of that project. Mr. Wilfahrt stated he would have to research that information. Commissioner Toth stated that he felt it was important for the public to know that the downtown projects have increased the taxable market value well over what would have happened had they done nothing. Mr.Wilfahrt stated that a press release could be sent out with the information. He noted that this information will be updated annually for the Commission. 6. Discuss Bi-Monthly Meetings Mr.Wilfahrt stated that in 2011 and 2012, there were eleven meetings that were cancelled or had no action items on the agenda. Staff suggested that the HRA could consider meeting every other month, for the sake of the Commission's and staffs' time. Mr. Wilfahrt noted that a change to the meeting schedule with require an amendment to the bylaws. Commissioner Toth stated that he felt the Commission should take advantage of the slowdown to be more proactive. He suggested that they look at possible residential redevelopment projects. Commissioner Chuba stated that he would not want to cause delays on projects due to changing the meeting schedule. Commissioner Motin stated that he was not in favor of having meetings just for the sake of having a meeting,and if there were not agenda items a meeting should be cancelled. After further discussion, Chair Wilson summarized that the HRA would continue to meet on their current schedule. He noted that a meeting could be cancelled if there are no agenda items and a workshop could be called instead to begin looking at possible projects.