02-14-2000 EDA MIN - Laserfiche WebLink

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EDA Minutes February 14, 2000 Page 2 6. Tax Increment Policy Modification e Mark Nevinski presented the modified tax increment policy to the EDA. He noted that the policy has been redrafted to comply with state law. The EDA reviewed the policy and offered general comments. President Dwyer suggested that EDA members contact Marc during the week with any other comments or suggestions pertaining to the policy. 7 . Tax Abatement Discussion - John Weicht Presentation Marc Nevinski explained the tax abatement law to the EDA. He explained that tax abatement requires the governing body to request participation by the county and school district. At that point each political subdivision has the option to rebate the taxes for the project. Mark noted that staff will draft a tax abatement policy and application for the EDA to review. John Weicht made a presentation to the EDA regarding a project he is proposing for the McChesney Industrial Park. He requested the EDA to consider allowing tax abatement assistance for this project. President Dwyer noted that the EDA would consider Mr. Weicht's request when the Tax Abatement Policy is adopted. It was the consensus of the EDA to authorize staff to proceed in the drafting of the Tax Abatement Policy. 8. Other Business e 8.a. Tom Bender Resianation President Dwyer noted that he has received a resignation from Commissioner Tom Bender due to a move out of the City. President Dwyer suggested that the EDA look for a representative from manufacturing businesses in the City to fill Commissioner Bender's vacancy on the EDA. He suggested that EDA members give suggestions to him or Marc Nevinski. 9. Adiournment There being no other business, COMMISSIONER KLINZING MOVED TO ADJOURN THE MEETING. COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 6-0. The meeting of the Elk River Economic Development Authority adjourned at 6:52 p.m. Sandra Peine City Clerk e