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Economic Development Authority Minutes Page 3 <br /> April 17,2017 <br /> �-- The EDA recessed into work session at 5:51 .m. The meeting reconvened at 5:54 p.m. <br /> p g p <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 Development Authority <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 the scoring work <br /> sheet for redevelopment projects. EDA consensus was to include bonus points for <br /> redevelopment. <br /> Commissioner Westgaard noted he does not want to see the policy weighted unfairly <br /> pushing current businesses out for redevelopment. Ms. Othoudt indicated she will <br /> work with EDA Attorney Jenny Boulton and EDA Financial Advisor Mikayla Huot <br /> on the policy revisions. <br /> 8.2 Finance Committee • <br /> Ms. Othoudt presented the staff report. <br /> President Tveite stated he believes there is overlap in policies and agrees establishing <br /> a Joint Finance Committee would be beneficial. He suggested allowing the current <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 /> pc\,/ <br /> Dan Tveite, EDA President <br /> Tina Allard, City Clerk <br /> NATURE <br />