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Economic Development Commission Minutes August 17, 2010 Page 2 of 2 ------------------------- - - - - -- Patrick Smith stated that economic development should be the general use of TIF. Patrick also noted that in some instances, housing could qualify for subsidies. Tommy Woog talked about new road standards that promote private induced redevelopment and would not necessarily be a TIF use. Tommy Woog addressed the business inventory and asked if the EDC has thought about what types of businesses we have and what types we do not have? He asked if there is a way to incorporate the types of businesses the City of Pequot needs in the subsidy policy. The EDC summarized the discussion as follows: 1. We need to determine what topics the City would like in its business subsidy policy. Sheila Haverkamp can provide the EDC with the legal requirements that must be in the policy. 2. What is the function of the EDC? Can the EDC establish community priority needs based on what the community wants and then relook at this on an annual basis? 3. Mark Jurchen suggested that the EDC look at the vision of the community. As the policies are developed, it would be good to bring everyone together with a shared vision. Ruth Ann Hansen gave a recap of the July events in Pequot Lakes. She stated that the three events brought in over 20,000 people. Ruth Ann stated that the Chamber had a community meeting with the Lions, a representative of the Park Commission and the City regarding miscommunication on the use of the Chamber sign, equipment and the park. The Chamber will be putting together a packet explaining the rules for use of these items. 4. Next Meeting Date — September 21 st Agenda will be the continuation of the Business Subsidy Policy 5. Other Business There was no other business. 6. Adjournment Meeting adjourned at 9:10 a.m. Respectfully submitted, Sandy Peine City Clerk