EDA SUM 2010 10 25
CHANHASSEN ECONOMIC
DEVELOPMENT AUTHORITY
SPECIAL MEETING
SUMMARY MINUTES
OCTOBER 25, 2010
Chairman Furlong called the meeting to order at 7:05 p.m.
MEMBERS PRESENT:
Tom Furlong, Bryan Litsey, Vicki Ernst, Bethany Tjornhom, and
Jerry McDonald
STAFF PRESENT:
Todd Gerhardt, Laurie Hokkanen, Kate Aanenson, Paul Oehme, Todd
Hoffman, Greg Sticha and Roger Knutson
CONSIDER ADOPTION OF A RESOLUTION APPROVING MODIFICATIONS TO
THE TAX INCREMENT FINANCING (TIF) PLANS FOR TIF DISTRICTS 4 AND 5.
Laurie Hokkanen explained that this proposal was due to changes from the State Auditor’s
Office pertaining to regulations regarding interest income. Councilwoman Tjornhom asked staff
to explain the benefits of approving versus not approving this proposal. Councilwoman Ernst
discussed what she considered disadvantages.
EDA Resolution #2010-08: McDonald moved, Litsey seconded that the EDA approves a
resolution adopting the modification to the Tax Increment Financing plans for Tax
Increment Financing Districts Number 4 and 5-1. All voted in favor, except Ernst who
opposed, and the motion carried with a vote of 4 to 1.
APPROVAL OF MINUTES: Litsey moved, McDonald seconded to approve the minutes of
the Economic Development Authority meeting dated September 13, 2010 as presented. All
voted in favor and the motion carried unanimously with a vote of 5 to 0.
Tjornhom moved, Ernst seconded to adjourn the meeting. All voted in favor and the
motion carried unanimously with a vote of 5 to 0. The Economic Development Authority
meeting was adjourned at 7:15 p.m.
Submitted by Todd Gerhardt
City Manager
Prepared by Nann Opheim