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Economic Development Authority Minutes Page 3 <br /> May 18,2020 <br /> ----------------------------- <br /> Commissioner Wagner questioned if you have to apply for the loan to get the <br /> property tax relief and why there is an employee requirement. <br /> Ms. Othoudt stated one form was created for both programs as it was simpler to <br /> administrate and the applicant could apply for either the loan and/or tax relief. <br /> Ms. Florin stated this policy was modeled after other similar EDA policies noting <br /> most want to target smaller businesses. <br /> Chair Tveite stated he'd like to remove the employee requirement and have it applied <br /> to the businesses forced to shut down due to the governor's order. <br /> Commissioner Wagner concurred and would suggest the requirement that they have <br /> to be in business for six months prior to shut down removed. <br /> Commissioner Westgaard questioned if we are wanting to target or eliminate a <br /> certain demographic of business and that was a reason for having some of these <br /> requirements. <br /> Ms. Fiorini stated the requirement were based on what is typical for other EDA's. <br /> Commissioner Westgaard questioned if the requirement applies to a new business or <br /> new ownership of an existing business, referencing the recent sale of Olde Main <br /> Eatery. <br /> Chair Tviete s eftisronablNtseabus"inesses had to be in operation prior to <br /> the orders. He stated he would like to strike the employee requirement and keep that <br /> a business had to be open prior the orders. <br /> Commissioner Wagner concurred. <br /> ;'Commissioner Ovall fe t having both programs lumped into one application is too <br /> cumbersome for the property tax relief program,noting there are some requirements <br /> that aren't needed for this program. <br /> Ms. Othoudt stated separate applications can be drafted. She stated it would be <br /> helpful to clarify how the Authority will be measuring the property taxes to be <br /> forgiven. She questioned if it would be the May or October tax payment. <br /> Commissioner Blesener stated it should be for any taxes due in 2020. <br /> Commissioner Ovall stated is should be the lesser of their 2020 annual property tax <br /> due or$5,000. <br /> Ms. Othoudt noted it could get a little tricky with leased properties,but the lease <br /> agreements would have to be reviewed. <br /> UREJ <br />