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Special EDC Minutes <br /> June 1, 2020 <br /> Page 4 of 6 <br /> ----------------------------- <br /> Commissioner Rieck stated that she would rely on Ms. Malecha's advice as far <br /> as what she feels would be the most beneficial for the City. Ms. Malecha stated <br /> that she is in favor of creating a TIF district for the Heart of the Good Life <br /> Development. She thinks it is a forward thinking process for the City to embark <br /> upon and as Mr. Murray alluded to if you do not create a TIF district and you do <br /> not earmark those funds, those funds go into the City's general funds. She stated <br /> as leadership changes the thoughts and ideas change. She said if we want to <br /> continue to grow the Heart of the Good Life Development and expand that <br /> infrastructure we have to be forward thinking and start putting money aside to <br /> help pay for that infrastructure. Ms. Malecha stated that if the Xcel Energy <br /> proposal is accepted that is a great first anchor to have in the development and <br /> that it will continue to grow. She said they should be mindful and forward thinking <br /> with the City finances and she thinks this is a great idea for the City. <br /> Tyler Glynn stated that in the majority of the developments that they see it is <br /> typically the business itself that is asking to recapture the increment in this <br /> scenario the City's able to capture that increment and hold it into a fund to help <br /> pay for further infrastructure. He said in most cases a company that is coming <br /> into a development is asking for TIF to make their project viable and that money <br /> would go back to the company and would not come to the City. He stated that it <br /> is usually an incentive to the developer from the City to bring that developer into <br /> a certain area. Mr. Glynn stated that this is not what Xcel is asking for here <br /> therefore the City has the ability to earmark this money and leave it into a fund <br /> for infrastructure moving forward. <br /> Commissioner Lelwica asked if this handcuffs the City in providing the TIF to <br /> other businesses or developers that come in and asks about funding. Mr. Murray <br /> said that EDC and City Council will have the ability to have the same <br /> conversation on future projects. He stated that maybe the businesses will ask <br /> them for a little bit of help to make the project viab�e and the EDC and Council <br /> will have that right to say we want to give you 50% of the increment or even up to <br /> 90%. He said they have that flexibility in the future on a case by case basis to <br /> negotiate that with potential businesses. <br /> Nancy Malecha stated the Planning Commission had their regular meeting on <br /> May 21 St and Mr. Mauseth from Xcel Energy presented via Zoom their business <br /> proposal. She stated the Planning Commission discussed the proposal and <br /> provided feedback to Mr. Mauseth and Xcel Energy. They suggested that the <br /> fenced in storage area be along Derksen road so it does not show to the South <br /> lot, discussed the appearance of the location, operations of the building, and also <br /> what is stored in the storage area. Ms. Malecha stated the consensus of the <br /> Planning Commission was that the proposal is a good idea for the Heart of the <br /> Good Life Development. She said the Planning Commission and Xcel are aware <br /> that there will be a lot of discussions going forward regarding the site plan <br /> because of the new zoning standards for the Heart of the Good Life <br /> Development. She stated the Planning Commission will work with them as this <br /> moves forward to meet those standards. <br />