4.1. EDA DRAFT MINUTES 10-16-2023

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Economic Development Authority Minutes Page 3 September 18, 2023 ----------------------------- 8. Adjourn Regular Meeting Moved by Commissioner Beyer and seconded by Commissioner Grupa to adjourn the regular meeting of the Economic Development Authority. Motion carried 6-0. The regular meeting adjourned at 5:39 p.m. President Tveite called the work session to order at 5:42 p.m. 9.1 Moyer Properties – TIF No. 26 Mr. O’Neil presented the staff report. Commissioner Blesener asked if Mr. Moyer went the route of getting tenants would he still have room for 13 employees. Mr. O’Neil said no, there would not be room. Commissioner Blesener asked if the attorney provided any direction. Mr. O’Neil responded that the attorney said they feel comfortable moving forward using a tenant as a situation. Commissioner Westgaard stated he supported this if it is creating the number of jobs that the TIF requires, and the attorney is comfortable with the situation. He felt it would be setting a bad precedent for the future. Commissioner Wagner asked why Mr. Moyer had decreased to five employees. Mr. O’Neil stated it was because the cost of steel had increased, and he did not want to pass the cost off to his customers. Commissioner Westgaard asked if we can add language to the agreement that states he needs to remain at least 50%. Commissioner Blesener asked who has the ultimate oversight of TIFs. Mr. O’Neil answered statutory the Department of Revenue and DEED; however, it is up to the city how TIF is awarded or amended. President Tveite asked if DEED would have any input into this situation. Mr. O’Neil said that DEED would have recommendations regarding the job portion and if the EDA amends the TIF, then they would be amending the business subsidy agreement as well, which would require working with DEED. After discussion, the EDA directed staff to reach out to DEED and to get more information from legal. Also, they would like to have the client come before the commission.