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/msincsses because there is not a place for them. He advised with the discussion of business <br />parks thc EDA needs to decide as a group whether they want to make smaller lots available or if <br />they wamt to reserve some larger tracts for businesses. <br /> <br />Member l';lvig indicated the Anoka Industrial Park was very deliberate about going after bigger <br />businesses. They are now finding out when that business has a hiccup there is a huge building <br />sitting there with nothing to do. It then takes ten times the effort to reestablish a business there. <br />I lc noted to provide businesses with the ability to expand Anoka provided incentives to the <br />businesses that would allow the businesses to purchase additional property if they expand on that <br />property within five years. Economic Development/TIF Specialist Sullivan explained tax <br />im.:remcm financing has changed over the years and this type of deal could not be done now in <br />~e,2¢ districts. Tools like the Revolving Loan Fund could be looked at to curb costs. <br /> <br />Associate Planner Wald requested direction from the EDA regarding the workplan and the EDA <br />being more active in discussions and projects related to transportation. <br /> <br />M~zmbe~' I<3ief;zr suggested the EDA take things one step further v¢ith the improvements the City <br />is doing in the area of 167th Avenue and HighwaY 47. He suggested a longer turn lane with <br />possibly some turn lanes in the median to make the in and out access easier. He indicated it <br />would bc appropriate fbr the EDA to take a harder look at these things, such as the impact the <br />bridge crossing will have and what type of land acquisition will be needed. <br /> <br />A. ssoci ate Planner Wald asked if the EDA would like to send a letter outlining the priorities to <br />tbt; City ('ouncil. She explained the purpose today is to get more general information and a <br />transportation case can be added to a future agenda. She suggested the EDA move on to Case <br />iq~). 2 and return to the workplan discussion later in the meeting. <br /> <br />Case #2: Twin City Community Capital Fund (TCCF) Presentation <br /> <br />Economic Developmenet/TIF Specialist Sullivan reviewed that the EDA has directed Staff to <br />~'esearch additional funding sources to facilitate the current economic development program. <br />The Minnesota Community Capital Fund (MCCF) is a fund that provides 10 to 1 leveraging of <br />t'unds t(~ serve as gap financing fbr economic development projects. This fund was created for <br />greater Minnesota to assist in projects. The Twin City Community Capital Fund (TCCCF) is <br />now being set up to provide the same funding mechanism for metropolitan cities such as <br />I(mnscy. <br /> <br />St:orr ,Martin, President of Twin City Community Capital Fund, presented the EDA with <br />in[brmation regarding TCCCF. He explained TCCCF was asked by Hennepin County to build <br />t~pon success of the Mi~mesota Community Capital Fund (MCCF), which was established for <br />tut'al areas. }fe explained TCCCF has given itself a deadline of October 1, 2005 to raise two <br />m illiot~ dollars in capital from communities like Ramsey. TCCCF is incorporated as a <br />Mi m'tcsota non-profit organization. It is a membership organization that will be governed by its <br />members. TCCCF is still in the development period and will make loans as soon as the capital <br />g(~al ()f' two million dollars is secured. He explained the funds are a gap resource to be used by <br /> <br />Economic Development Authority/April 13, 2005 <br /> Page 4 of 7 <br /> <br /> <br />