05-19-2020 EDC Meeting Minutes - Laserfiche WebLink

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EDC Minutes May 19, 2020 Page 5 of 8 ----------------------------- would be the absolute maximum and said it would probably be more like 40 hours that it would take to get it together. She stated the hourly rate for her would be $95. Commissioner Lubke asked if they should start the project without funding in hopes that they get funding later on. Ms. Leverson does not recommend reimbursing for the project and she does not believe it is a reimbursable project but she will check on that. Chair Lindholm stated that since they have a $5,000 he would like to know what our current budget situation is for the EDC. Ms. Malecha stated that in the 2020 budget under contract services that EDC did earmark some money in the amount of$10,700 for redevelopment and marketing, which they could potentially tap into for this as she believes no money has been expended from that item yet. COMMISSIONER HOLLEY MOVED TO APPROVE THE USE OF $5,000 FROM CONTRACT SERVICES EARMARKED FOR RECEVELOPMENT AND MARKETING 2020 BUDGET TO APPLY FOR THE BUSINESS DEVELOPMENT PUBLIC INFRASTRUCTURE (BDPI) FUNDING ASSISTANCE GRANT. COMMISSIONER LELWICA SECONDED THE MOTION. MOTION CARRIED 7-0. 4.3. Tax Increment Financinq District Jason Murray stated that they have to look at the small city exemption under the economic development TIF law to support commercial development up to 15,000 square feet. He stated the Xcel project is less than 15,000 square feet and from that standpoint he thinks it still allowed the City to support infrastructure funding or being an avenue to support infrast�ucture from the business part and using a portion to help pay for this improvement. He stated they have some flexibility to it and it is just a matter of tying it all to the tax base to hit the tax capacity. He discussed timing and having 30 day notice requirement and that it takes about 45 days to establish a TIF district. He asked the EDC Commission if they can reschedule the conversation to the June meeting where he will have a little more time to talk discuss the topic. 5. Welcominq Communitv Advocacv Groua Update Nancy Malecha reminded the EDC Commission that region five is hoping to start up the be welcoming community advocacy group starting in June and start reaching out to the people that they have earmarked to serve on that group. She reminded them that she still needs contact information for some of the people that they had noted to serve on the group. She asked to have that information to her by the end of next week, 6. Housinp Update Mark Jurchen informed the EDC that the housing inventory is completed and they identified about 160 parcels in the core area. He said that is an area with