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SPECIAL MEETING OF THE <br /> ELK RIVER CITY COUNCIL <br />ECONOMIC DEVELOPMENT AUTHORITY <br />HOUSING AND REDEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br /> MONDAY, FEBRUARY 5, 2001 <br /> <br />Council Members Present: <br /> <br />EDA Members Present: <br /> <br />HRA Members Present: <br /> <br />Staff Present: <br /> <br />Mayor Klinzing, Councilmembers Dietz, Kuester, <br />Motin, and Tveite <br /> <br />Chair Gongoll, Commissioners Koenig, Kuester, Motin, <br />Klinzing, Tveite and Dwyer <br /> <br />Commissioners Wilson, Motin, Huntington, and Thompson, <br />(Chair Toth absent) <br /> <br />City Administrator Pat Klaers, City Clerk Sandra Peine, <br />Director of Economic Development Catherine Mehelich, <br />Assistant Director of Economic Development Marc Nevinski <br /> <br />Call Meetin.q To Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River City Council, <br />HRA, and EDA was called to order at 6:00 p.m. by Mayor Klinzing. <br /> <br />Consider 2/5/2001 A.qenda <br /> <br />COUNCILMEMBER MOTIN MOVED TO APPROVE THE AGENDA. COUNClLMEMBER <br />DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />Discussion on Economic Development Finance Tools <br /> <br />Director of Economic Development Catherine Mehelich introduced Sid Inman <br />from Ehlers and Associates. She noted that this meeting was called as a <br />worksession to help the members of the Council, EDA, and HRA to have a better <br />understanding of economic development finance tools. <br /> <br />Sid Inman reviewed the following information: <br /> <br /> · Tax increment financing <br /> · How to calculate tax increment financing <br /> · The "But For" test <br /> · Tax abatement <br /> · Business subsidies <br /> · Legislative issues <br /> <br />Jeff Gongoll suggested that the city try to better educate the public regarding <br />the benefits to the community for a TIF project while going through the tax <br />increment process. <br /> <br /> <br />