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<br />e <br /> <br />SPECIAL MEETING OF THE ECONOMIC DEVELOPMENT <br />AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, JUNE 2, 1997 <br /> <br />Members Present: <br /> <br />President Dwyer. Commissioners Holmgren. Bender. Thompson. and <br />Duitsman. Commissioner Farber arrived at 5:10 p.m. <br /> <br />Members Absent: <br /> <br />Commissioner Gongoll <br /> <br />Staff Present: <br /> <br />Paul Steinman. Director of Economic Development; Pat Klaers. City <br />Administrator; Terry Maurer. City Engineer; Steve Ach. City Planner; <br />Debbie Kleckner. Recording Secretary <br /> <br />Also Present: <br /> <br />Gerald Duffy. representing Associated Developers <br /> <br />1. Call Meetina To Order <br /> <br />Pursuant to due call and notice thereof. the special meeting of the Economic <br />Development Authority was called to order at 5:00 p.m. by President Dwyer. <br /> <br />2. <br /> <br />Consider 6/2/97 EDA Aaenda <br /> <br />e <br /> <br />COMMISSIONER DUITSMAN MOVED TO APPROVE THE JUNE 2. 1997. EDA AGENDA. <br />COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />3. <br /> <br />Discuss Concept of Tax Increment District for the Earl Hohlen Proiect <br /> <br />Paul explained the requirements which need to be met in order to qualify the site <br />as a redevelopment tax increment financing district. He noted benefits might <br />include financing the extension of trunk utilities and construction costs for a <br />portion of the road extension south from County Road 12. Paul indicated that if <br />the EDA proceeded with the T1F concept. there would need to be an industrial <br />component for the project with some type of city ownership. <br /> <br />Gerald Duffy. representing the developers of the Hohlen property project. <br />explained issues that have arisen since the developer signed a purchase <br />agreement with Mr. Hohlen; (1) Originally. Mr. Hohlen agreed to be responsible for <br />moving the mobile home park. Adoption of an ordinance by the City Council <br />has now placed that financial responsibility on the developer. (2) Additional <br />expenses will be placed on the developer for improvements to the Highway 169 <br />and Main Street intersection. Mr. Duffy estimated these additional costs total <br />approximately $250.000. Mr. Duffy indicated it would be necessary to purchase <br />additional property from the VandenBergs in order to provide an industrial site for <br />this project. He felt that due to the additional costs being placed on the <br />developer. the project will not proceed without financial assistance from the city. <br /> <br />e <br /> <br />The EDA and staff discussed the concept of an industrial park with Mr. Duffy. Mr. <br />Duffy indicated the developer was willing to either sell the industrial site to the city <br />or work in partnership with the city to develop an industrial park. Members of the <br />