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Councilmember Dehen inquired about more consulting with regard to this, what would be the <br />cost impact to the City and how do we contain the cost. <br />Mr. Tinklenberg replied that they (The Tinklenberg Group) have done what they were asked to <br />do. He thought that the next step will be for staff to work with Burlington Northern and Ramsey <br />has some big things to trade. He added that there is a little more monitoring to be done but he <br />did not see a lot of other work necessary. <br />City Administrator Ulrich stated he wished to echo Mr. Tinklenberg's comments. He felt <br />Ramsey had a strong team working on this -this funding would be huge for the corridor and it <br />gives the City some options. <br />2) Legislative Update re TIF Authority for the COR <br />City Administrator Ulrich stated that State Legislature allows the City to set up a TIF District for <br />the COR. He noted that the language for the City's TIF legislation was attached to the agenda. <br />He stated that Minnesota Statutes 469.175 outlines the process of establishing the TIF financing <br />plan and noted that too was sent out with Council packet for their information. He stated that he <br />feels it is necessary to move forward with this and that the consensus of Council is needed to <br />move forward and establish the COR TIF District. He added the HRA would also be involved. <br />The consensus he requested would be to move forward with the consultant to develop this plan <br />and bring it to the HRA. <br />Consensus of the City Council was that the COR TIF plan was a good idea and that it should be <br />moved forward and to have staff do some solicitation of request for proposals to prepare the TIF <br />plan to move forward, and to bring back the consultant and the plan to the City Council for <br />review. <br />Councilmember Jeffrey asked if this would also be brought to the Economic Development <br />Authority or just the HRA. <br />Mr. Ulrich stated that decision would be up to the Council. <br />Mayor Ramsey inquired if Mr. Ulrich had a guesstimate of what we might spend on a consultant <br />to which Mr. Ulrich responded maybe in the $3,000 to $5,000 range. <br />Councilmember Dehen inquired if TIF isn't primarily for blighted areas. <br />Mr. Ulrich replied that is true, but we made a case that this is a failed development that needs to <br />be re-developed. This was new development that failed because of economic reasons and we <br />need a tool to go in there and attract development. If we can do other land improvements that <br />need to be made, we can entice development. This would be used to improve the quality of this <br />land and enhance this entire development. The ability for us to generate money is not there - he <br />felt this land cannot support itself; therefore, we need to find a mechanism to generate funds to <br />pay for improvements. <br />City Council Work Session -June 1, 2010 <br />Page 2 of 11 <br />