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<br />. <br /> <br />. <br /> <br />. <br /> <br />Commissioner Wagner dismissed himself from the meeting at 8:50 a.m. <br /> <br />Ms. Norris noted that tax increment revenues are being used to subsidize an <br />office/warehouse development in River's Bend Plaza. <br /> <br />Commissioner Ippel suggested that the proposal from Iron Workst and any other <br />future similar developmentst be viewed and considered for the same type of <br />assistance given in the case of River's Bend Plaza. <br /> <br />Commissioner Fults inquired if there would be some way to get payback from <br />incubation businesses for subsidies received and in turn pass those funds on to <br />assist existing businesses in Ramsey with their needs. <br /> <br />Commissioner Vevea agreed that equal consideration should be given to incoming <br />and existing businesses. There are existing businesses that have needs and <br />could use some assistance. <br /> <br />Commissioner Ippel noted that there are already things in place to assist <br />existing businesses like the Small Business Loans t CDBG funds t tax increment <br />financing. Commissioner Ippel stated that if the City had a full-time economic <br />development person on boardt that person could be visiting existing businessest <br />finding out their needs and informing them of what is available to them. <br /> <br />Commission noted that Council has given concept approval to the Iron Works <br />proposal and that EDC should make Council aware on November 20 that the <br />proposal does not meet the real intent of an incubator and should be viewed as <br />a private development venture entitled to request tax increment participation. <br /> <br />The Commission directed Ms. Norris to prepare an addendum to the joint EDC/P&Z/ <br />City Council meeting agenda of November 20 regarding EDC concerns with the <br />proposal from Iron Works for an incubator facility. <br /> <br />Commissioner Hardin dismissed himself from the meeting at 9:14 a.m. <br /> <br />ADJOURN <br /> <br />Motion by Commissioner Kurak and seconded by Commissioner Fults to adjourn the <br />special Economic Development Commission meeting. <br /> <br />Motion carried. "Voting Yes: <br />Kurak and Vevea. Voting No: <br />Hardin and Wagner. <br /> <br />Chairman Greenbergt Commissioners Ippelt Fultst <br />None. Absent: Commissioners Mullert DeLucat <br /> <br />The meeting adjourned at 9:15 a.m. <br /> <br />Respectfully submittedt <br /> <br />€. ,t,' ~ :," A.. <br />:::::;?,.v.~~ ~ <br />\~ <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />Anne Norris <br />Community Development Director <br /> <br />EDC/November 19t 1986 <br /> <br />Page 5 of 5 <br />