02-05-2001 CC MIN - SPECIAL-JOINT SPECIAL MEETING OF THE
ELK RIVER CITY COUNCIL
ECONOMIC DEVELOPMENT AUTHORITY
HOUSING AND REDEVELOPMENT AUTHORITY
HELD AT THE ELK RIVER CITY HALL
MONDAY, FEBRUARY 5, 2001
Council Members Present:
EDA Members Present:
HRA Members Present:
Staff Present:
Mayor Klinzing, Councilmembers Dietz, Kuester,
Motin, and Tveite
Chair Gongoll, Commissioners Koenig, Kuester, Motin,
Klinzing, Tveite and Dwyer
Commissioners Wilson, Motin, Huntington, and Thompson,
(Chair Toth absent)
City Administrator Pat Klaers, City Clerk Sandra Peine,
Director of Economic Development Catherine Mehelich,
Assistant Director of Economic Development Marc Nevinski
Call Meetin.q To Order
Pursuant to due call and notice thereof, the meeting of the Elk River City Council,
HRA, and EDA was called to order at 6:00 p.m. by Mayor Klinzing.
Consider 2/5/2001 A.qenda
COUNCILMEMBER MOTIN MOVED TO APPROVE THE AGENDA. COUNClLMEMBER
DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0.
Discussion on Economic Development Finance Tools
Director of Economic Development Catherine Mehelich introduced Sid Inman
from Ehlers and Associates. She noted that this meeting was called as a
worksession to help the members of the Council, EDA, and HRA to have a better
understanding of economic development finance tools.
Sid Inman reviewed the following information:
· Tax increment financing
· How to calculate tax increment financing
· The "But For" test
· Tax abatement
· Business subsidies
· Legislative issues
Jeff Gongoll suggested that the city try to better educate the public regarding
the benefits to the community for a TIF project while going through the tax
increment process.
City Council Minutes
February 5, 2001
Page 2
4. Adjournment
There being no further business, Mayor Klinzing adjourned the meeting at 7:07
p.m.
Sandra Peine
City Clerk