Laserfiche WebLink
Economic Development Authority Minutes Page 3 <br />April 17, 2017 <br />----------------------------- <br />The EDA recessed into work session at 5:51p.m. The meeting reconvened at 5:54 p.m. <br />8.1 TIF Policy Discussion <br />EDA Attorney Jenny Bolton was also present for the discussion. <br />Ms. Othoudt presented the staff report. The Economic Developmen <br />reviewed the Tax Increment Financing Policy and Application as well as the TIF <br />Scoring Worksheet for non-housing projects for consistency with EDA objectives <br />and goals and suggested changes. <br />Ms. Othoudt explained the EDA Finance Committee and Housing and <br />Redevelopment Authority have discussed adding bonus points to th <br />sheet for redevelopment projects. EDA consensus was to include b <br />redevelopment. <br />Commissioner Westgaard noted he does not want to see the policy <br />pushing current businesses out for redevelopment. Ms. Othoudt indicated she will <br />work with EDA Attorney Jenny Boulton and EDA Financial Advisor M <br />on the policy revisions. <br />8.2 Finance Committee <br /> <br /> Ms. Othoudt presented the staff report. <br /> <br />President Tveite stated he believes there is overlap in policies and agrees establishing <br />a Joint Finance Committee would be beneficial. He suggested allo <br />EDA Finance Committee to recommend the structure of the new Joint Finance <br />Committee for consideration by the EDA and HRA. <br />9. Adjournment <br />There being no further business, Chair Tveite adjourned the meeting of the Elk <br />River Economic Development Authority at 6:27p.m. <br />Minutes prepared by Jessica Miller. <br />Dan Tveite, EDA President <br />Tina Allard, City Clerk <br /> <br />