Agenda - Economic Development Authority - 09/09/2021

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Economic Development Manager Sullivan presented the staff report. Chairperson Steffen commented that he will remain on the EDA throughout the remainder of his term, but he will be traveling and working remotely, therefore he will be stepping down as Chair. He stated that it is difficult to chair meetings from a remote location. He noted that Member Cords has stated that he would be interested in the Chair position. Motion by Member Riley, seconded by Member Steffen, to appoint Scott Cords as Chairperson of the Economic Development Authority through March 31, 2022. Motion carried. Voting Yes: Chairperson Steffen, Member , Howell, MacLennan, Olson, and Riley. Voting No: None. Absent: Member Johnso Economic Development Manager Sullivan noted over the meeting. Chairperson Cords opened nominations for V . air. Motion by Member MacLennan, se ded by Me Chairperson of the Economic Deve Authority Motion carried. Voting Yes: Chairper and Steffen. Voting No: ,Ine. Absent: 4.02: Consider Recommendation to Ap and TIF Agre: • nt; Cas � �.. Oppid ewly •inted Chair should preside o appoint Mi March 31, 2022. Olson as Vice mbers ennan, Riley, Howell, Olson, on. of TIF District 18, TIF Plan, Economic Deve e staff report. Chai Cords sta ' at th- ere a fe •r things that staff was going to do additional researc He asked if are ental changes since the previous discussion. Economic D 'pment Manag Sulli . stated that those questions were related to the TIF agreement, whi is the second portion of the case. He provided clarification on the job creation requirement which included a job creation number of 100 with minimum wages of $17.50 / hr. He noted that in order to qualify to be within a TIF District, the use would need to be in line with the district in terms of manufacturing/distribution/warehousing type uses. He noted that if the use changed, one of those buil l igs could potentially be removed from the district. He clarified that the EDA actions could be taken in one motion all at once if supported by the EDA. He noted that this would go forward to the City Council for a public hearing on August 24t. Member Howell referenced the 40 and 60 percentages and asked how that was negotiated and accepted. Economic Development Manager Sullivan stated that 60/40 split is unique in that typically it is a 90/10 split with the developer receiving 90 percent. He stated that staff negotiated the 60 Economic Development Authority/ August 12, 2021 Page 2 of 6