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<br />Page 2 <br /> <br />. <br /> <br />Economic Development Authority Minutes <br />February 27. 1989 <br /> <br />The City Administrator questioned Mr. Moore if there was any level of <br />expect ion from Mork clinic. or any dollar amount mentioned in the purchase <br />agreement, as to the amount of money Mork expects the City to contribute <br />with tax increment financing. He indicated that it will be some time <br />before a dollar amount can be determined as the City must follow all the <br />guidelines required for TIF and further that the City does not know the <br />evaluation of the property. Mr. Moore indicated that Mork has no <br />expectations but feels the City will be fair in their decision. <br /> <br />Commissioner Holmgren stated he would like it to go on record that he will <br />abstain from any decision making regarding this project as his parents own <br />property adjacent to the proposed clinic. <br /> <br />Mr. Fursman indicated that the City's goal is to help Mork Clinic acquire <br />the property at a reasonable price and eliminate the burden of having to <br />remove existing homes. He further stated that a fair market value for the <br />property will be Mork Clinic's responsibility. <br /> <br />Mr. Moore stated that it would be financially impossible for Mork Clinic <br />to support the project without the City assisting with TIF. <br /> <br />. <br /> <br />COMMISSIONER KROPUENSKE MOVED TO SUPPORT THE REDEVELOPMENT PROJECT USING <br />TAX INCREMENT FINANCING FOR SITE PREPARATION WITH THE DOLLAR AMOUNT '1'0 BE <br />ESTABLISHED AT A LATER DATE. COMMISSIONER SCHULDT SECONDED THE MOTION. <br />THE MOTION CARRIED 4-0-1. COMMISSIONER HOLMGREN ABSTAINED. <br /> <br />5. <br /> <br />Update on ED Projects <br /> <br />Mr. Fursman updated the EDA on the Jenne project and other possible <br />business propects looking at Elk River for possible location. <br /> <br />6. Other Business <br /> <br />Mr. Fursman informed the EDA that on Thursday. 2:00 p.m. the State Star <br />City Recertification Team will be visiting City Hall. He encouraged the <br />EDA members to atend the meeting. He noted the Team will be talking about <br />the structure of the organization and will be reviewing the one year work <br />plan and will also assign tasks to various committees. <br /> <br />7. Adjournment <br /> <br />There being no further business. COMMISSIONER HOLMGREN MOVED TO ADJOURN <br />THE MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY ~ COMMISSIONERDOBEL <br />SECONDED THE MOTION. THE MOTION PASSED 5-0. <br /> <br />The meeting of the EDA adjourned at 7:52 p.m. <br /> <br />"/~~.~ <br />"",f. '0<<' <br />. ~!c! ' " ._ <br />Sandy Thack ay ~--- <br />Deputy City Clerk ~_ .-/ <br /> <br />