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Economic Development Authority Minutes March 11, 1996 Page 2 e ---------------------------------------------------- 7. Sustainable City Showcase Building and Zoning Administrator Steve Rohlf explained that the concept of a Sustainable City Showcase is to make Minnesota internationally known for energy efficient and renewable energy technologies. This process includes designating one city in Minnesota as a Sustainable City Showcase. Steve Rohlf introduced Ed Palmer who owns a business in Otsego and is on the Sustainable City Showcase committee. Ed Palmer indicated that he would like to promote Elk River as a candidate for the Sustainable City Showcase. He indicated that Elk River was a viable candidate. Mr. Palmer requested the EDA's support in the form of a letter and/or resolution. COMMISSIONER DUITSMAN MOVED TO AFFIRM THE STRONG SUPPORT OF THE EDA TOWARD THE CONCEPT OF ELK RIVER BECOMING A SUSTAINABLE CITY SHOWCASE AND TO SUBMIT A LETTER INDICATING THE CITY'S SUPPORT AND FURTHER TO ADOPT EDA RESOLUTION 96-1, A RESOLUTION OF SUPPORT FOR THE SUSTAINABLE CITY SHOWCASE. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0. 8. Consider Reauest for Tax Increment Financino Assistance from Marketech, Inc. - Rich Duooan e Executive Director Pat Klaers explained that Rich Duggan of Marketech has made a request for tax increment financing. He indicated that Marketech is an existing growing company which needs room for expansion. Rich Duggan is proposing to construct a 9,300 square foot facility on Lots 6 & 7, Block 1 of the McChesney Industrial Park. The Executive Director indicated that staff is recommending that the city offer a TIF subsidy of 17 percent which is 2 percent over the 15 percent maximum stated in the T1F policy. He indicated that the extra 2 percent is recommended to encourage and support the expansion into the McChesney Industrial park, the pay-as-you-go approach and the city's strong commitment for business retention and growth. Commissioner Dwyer indicated his support and stated that he would like to see funds available for this type of request. He suggested that the funds from the sale of the city property to the school district be available for the local contribution requirement associated with this type of project. It was suggested that this local contribution issue be discussed at the next City Council capital improvement meeting. COMMISSIONER HOLMGREN MOVED THE FOLLOWING: · TO AUTHORIZE THE PREPARATION OF TIF PLAN FOR MARKETECH, INC., EXPANSION; · TO SCHEDULE A PUBLIC HEARING FOR APRIL 8, 1996, TO CONSIDER THE ADOPTION OF THE TIF PLAN; e