09-19-2016 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 September 19, 2016 ----------------------------- Commissioner Provo asked what happens with the fees if a business is denied the tax abatement request. Commissioner Tveite stated this is a fee to recoup costs and not a revenue source. Ms. Othoudt stated the applicant is reimbursed unused fees. Commissioner Ovall stated the EDA Finance Committee expressed concerns with the fees and costs of consultants, such as Springsted, and staff is considering internal review for some programs. Ms. Othoudt further noted the city offers many programs which each require different types of review. She stated staff is looking at reviewing microloans, tax abatements, and tax increment in-house. She stated staff is looking at continuing to use Springsted for tax abatements and tax increment finances, but to internally review microloans. The Commission concurred that a Request for Proposal should be drafted for financial consultant firms. Moved by Commissioner Westgaard and seconded by Commissioner Olson to approve the Tax Abatement Policy as outlined in the staff report. Commissioner Provo suggested changing the language in Section VII.A.1 as follows: Applicant submits the completed application along with a $5 10,000 application deposit, to be refunded for any portions not utilized. The maker and seconder of the motion concurred with the language change. Motion carried 7-0. 6.2 Director’s Report Ms. Othoudt presented the staff report. 7. Announcements There were no announcments. ----------------------------- The EDA recessed in order to go into worksession at 5:52 p.m.. The EDA reconvened at. 5:54 p.m. Commissioner Olson was not at this portion of the meeting. 8.1 City Beautification Award Program