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Member Riley asked if he understood it correctly that the decision is still being considered, even <br />if Ramsey says yes to the requested assistance. <br />Mr. Strubberg replied that is correct as the final decision is intended to be made next week. <br />Economic Development Manager Sullivan replied that from a timing perspective, if project <br />assistance is recommended by EDA, it would move forward to City Council at the February 27th <br />meeting. He stated that there was a recommendation in the staff report to potentially include a <br />range of assistance. He stated that perhaps the Wright County costs come in higher than <br />anticipated and therefore the delta between the two is not quite as large. <br />Member Johnson asked if there would be a comparison of previous funding requests that would <br />be similar to the A -Election. She noted that the median value of impact of about $2 is not large, <br />but if that tool is used often, that could accumulate. <br />Economic Development Manager Sullivan replied that the City does not do this often. He <br />commented that the A -Election has been done within the COR TIF 14. He stated that this project <br />is unique in that it is competitive. He stated that his intention was to present all of the options that <br />could be considered, along with all available information. He stated that he likes the project and <br />while it is good, he would not classify it as excellent. <br />Member Stewart asked the number of A -Elections that have been done in the last three years. <br />Mr. Aarsvold commented that only the COR-TIF 14 has utilized A -Election. He stated that <br />housing projects would not be impacted by A or B Election. <br />Economic Development Manager Sullivan stated that TIF was provided for Hilton Home2Suites <br />under A -Election. He noted that all commercial properties within the TIF District 14 are subject <br />to that, and the other TIF Districts have chosen not to Opt -in for A -Election. <br />Mr. Aarsvold commented that it is a decision for the district itself, not each individual deal. <br />Member Stewart asked the cost to homeowners on TIF 14 A -Election. <br />Mr. Aarsvold replied that would vary each year based on different factors. <br />Economic Development Manager Sullivan replied that analysis and calculation was not completed <br />as the district was already A -Election. <br />Member Riley commented that decision was made in 2011 when the district was established, <br />therefore the question is not being asked for the development. He stated that the EDA has never <br />considered A -Election and should consider both what is good for business but also what is good <br />for the residents. He commented that under that reasoning he would not want to bring in a business <br />at a cost to residents. <br />Economic Development Authority/ February 8, 2024 <br />Page 3 of 9 <br />