Laserfiche WebLink
Ak 6. Bylaw Amendment <br /> At its September meeting, EDA Commissioners changed the meeting <br /> time from 7 p.m. to 6 p.m. for its regularly scheduled meetings. It was <br /> not clear that this action was intended to also include the EDA's <br /> Annual Meeting in January. To change this meeting time, a Bylaw <br /> amendment is necessitated. In accordance with the EDA's procedure <br /> for revising its Bylaws, President Gongoll provided a notice and a copy <br /> of the proposed amendment to each EDA Commissioner and to each <br /> member of the governing body. If approved, the Bylaw amendment <br /> would also change the Annual Meeting time from 7 p.m. to 6 p.m. <br /> ACTION REQUESTED <br /> The EDA is asked to adopt an amendment revising Section 2.5(01) of <br /> Article 2 of the EDA Bylaws to reflect that the Annual Meeting begins <br /> at 6 p.m. <br /> 7. Potential Public/Private Partnerships <br /> By way of recent action at a City Council meeting, approximately <br /> $430,000 from former TIF District No. 4 was allocated toward the <br /> • development of a business park/senior high school. Expenditure of TIF <br /> No. 4 funds must be consistent with the objectives of the TIF Plan for <br /> District No. 4. Generally, these uses are those "to allow development <br /> of the western area of the City". <br /> Previously, the City Council allocated up to $300,000 from TIF No. 1 <br /> and No. 3 for the business park. Expending these funds are limited to <br /> land purchases only. This was done when it appeared as though the <br /> park would be developed as an EDA project rather than by the private <br /> sector. <br /> With the business park zoning now a reality, it is important to begin <br /> contemplating how the City/EDA may assist the business park <br /> owners/developers to ensure the success of the business park. To begin <br /> this process, it is also important to determine the specific expectations <br /> from the developers/owners of the business park area. <br /> Potential public/private partnerships may include: <br /> • Utilizing the TIF funds to underwrite a portion of the <br /> infrastructure costs associated with lateral water/sewer <br /> improvements, street improvements, etc. As lots are sold in <br />