EDA Meeting Minutes 2012.09.24EDA MEETING
September 24, 2012
1. President Stockamp calls the EDA Meeting to order.
President Stockamp called the EDA meeting to order at 7,35 PM,
Roll Call: President Jessica Stockamp;
Schroeder and Tom Darkenwald.
Staff: Lori Johnson, City Administrator;
membersI Vern Heidner, Dan ScharberI Doug
Daniel
2. Consider approval of the following minutes.
2.1 April 9, 2012 EDA minutes,
Member Darkenwald motioned to approve as written. Seconded y Member
Heidner. All in favor. Motion carried.
3. Discussion of Economic Development policies.
City Administrator Johnson reviewed several proposed policies for Economic
Development Authority (EDA) discussion which included mission, goals and objectives
of the Otsego EDA; By -Laws; Business Subsidy Policy; Tax Increment Policy; Tax
Abatement Policy and forms.
Member Darkenwald asked what is budgeted for EDA. Finance Director Groen said
between $1245,000.
The following changes were recommended to the By -Laws:
Member Heidner recommended under item 2.1 changing to 5 members; Mayor and 4
council members.
Member Heldner recommended adding the wording "with Council approval" to item 7.3.
Member Heidner said wording throughout should be changed to match; President and
Vice -President.
Member Heidner recommended adding the wording "President to sign" to items 2.5.
The following changes were recommended to the Business Subsidy Policy:
The EDA made the recommendation to change Item H page 2 to 10 years instead of 5
years.
Under Costs eligible for Tax Increment Financing Assistance on Page 7. Change wording
on relocation of occupants. The EDA will pay to bring in but no condemnation
relocating.
CM Heidner recommended adding "no interest on deposit" on page 8.
Third paragraph on page 9 change to 10 years.
The following changes were recommended to the Tax Abatement Policy:
Member Heidner recommended adding term discretion of the EDA and changing to
percent with a max and a minimum.
City Administrator Johnson said the Policies will be revised with changes and will be
brought back to the EDA in a month or two.
4. Any other business.
City Administrator Johnson reviewed the MNCAR Commercial Real Estate Expo on
November 8. The EDA recommended the City become a member.
City Administrator Johnson provided an update on recent development meetings and
activities. Which included the old Hana Lee location.
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