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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 />