EDSR 04-15-1998 - Laserfiche WebLink

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• CONTINUED MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL WEDNESDAY, APRIL 15, 1998 Members Present: President Duitsman, Commissioners Thompson, Farber, Bender, Dwyer, Gongoll and Holmgren Members Absent: None Staff Present: Paul Steinman, Director of Economic Development; Pat Klaers, City Administrator; Sandra Thackeray, City Clerk 1. Call Meeting To Order Pursuant to due call and notice thereof, the continued meeting of the April 13, 1998, Economic Development Authority Meeting was reconvened at 5:00 p.m. on April 15, by President Duitsman. 2. Morrell Tax Increment Financing Request The April 13, 1998, Economic Development Authority Meeting was continued so that discussion could be continued on the Morrell Tax Increment Financing issue. • President Duitsman reviewed the issues that were discussed on April 13. He stated that Item 3 in Option A seemed to be the main outstanding issue. This related to the time period for allowing the present Morrell building to be in operation prior to demolition. President Duitsman indicated that the Morrells have requested that there be no time limitation for demolishing the existing Morrell building located on Jackson and School Street. President Duitsman stated that he felt there should be a definite drop dead date as to when the present building will be demolished. President Duitsman also indicated that the EDA requests a landscaping plan and a site plan showing what will be cleaned up and removed at the existing Morrell site. Paul Steinman explained that by requiring a minimum assessment agreement as part of the developers agreement, the Morrells will not be able to contest the value of the new building to anything below two million dollars until after the municipal bonds are paid. He also indicated that the 15 percent maximum subsidy provided is based upon the value of the land and buildings. Terry Morrell made reference to the fees that the Morrells are required to pay. He implied that they were being treated unfairly. He specifically mentioned the surface water management fee that they are required to pay for the "wetland" portion of their property. The City Administrator informed Terry Morrell that they are being treated no differently than anyone else in their situation or any developer who makes a proposal to the city. Discussion was held regarding the TIF money being tied to the existing site. • Discussion was also held regarding the type of business the Morrells intend to have in the existing building. Commissioner Thompson questioned the number