Laserfiche WebLink
Economic Development Authority Minutes Page 2 <br />June 19, 2017 <br />----------------------------- <br />City practice has been to direct applicants towards tax abatement financing <br />before considering TIF financing, so can the TIF Policy look more like the Tax <br />Abatement Policy and be dropped down to 8 pages. <br />How much in TIF dollars should be allowed? Should it be based on <br />percentage of the tax base? <br />Mikayla Hout, Springsted Consultant, stated the Authority can establish overarching <br />goals but also have specific criteria for individual districts located in the city. She <br />noted a large deposit fee helps weed out applicants who may not <br />a project and helps to ensure city dollars are not being spent o <br />projects/staff time. <br /> <br />Ms. Othoudt noted there are a couple of outstanding projects waiting on the policy <br />development. <br /> <br /> It was noted applicants can still apply under the current TIF p <br /> <br />Commission consensus was to defer this topic to a work session in a joint meeting <br />with the Council and Housing and Redevelopment Authority. <br /> <br />4. Adjournment <br /> <br />There being no further business, Chair Tveite adjourned the meeting of the Elk <br />River Economic Development Authority at 5:43 p.m. <br /> <br /> <br /> <br /> <br />Dan Tveite, EDA President <br />Tina Allard, City Clerk <br /> <br />