08-08-2023 EDC MinutesCHANHASSEN ECONOMIC
DEVELOPMENT COMMISSION
REGULAR MEETING
AUGUST 8, 2023
Chairman Anderson called the meeting to order at 5:30 p.m.
MEMBERS PRESENT: Chair Eric Anderson, Commissioners Duke Zurek, Chris Freeman,
Stacy Goff, and Luke Bame.
MEMBERS ABSENT: Cohen Lee
STAFF PRESENT: Samantha DiMaggio, Economic Development Manager
PUBLIC PRESENT: None.
Member Zurek moved, Member Freeman seconded to approve the agenda. All voted in
favor and the motion carried unanimously with a vote of 5 to 0.
APPROVAL OF MINUTES:
APPROVE ECONOMIC DEVELOPMENT COMMISSION MINUTES DATED JULY 11,
2023
Member Zurek moved, Member Bame seconded to approve the Minutes of the Economic
Development Commission meeting dated July 11, 2023, as presented. All voted in favor and
the motion carried unanimously with a vote of 5 to 0.
DISCUSSION/GENERAL BUSINESS ITEMS:
1. Tax Increment Financing and Tax Abatement Training
Economic Development Manager DiMaggio explained Tax Increment Financing (TIF.) The
commission discussed the purpose, types, and mechanics of how the financing tool works. A TIF
district doesn’t exclude a development from paying taxes; the taxes collected before the
redevelopment are still paid as usual and the increased tax is used to help finance portions of the
development for no more than the statutory allotted time. They reviewed the TIF Financing used
for the development of The Venue.
The Commissioners then reviewed what Tax Abatement is, how this tool differs from TIF, and
how that tool can also be used to promote economic development.
Economic Development Commission – August 8, 2023
2
Director’s Report:
Ms. DiMaggio shared two recommendations from the city attorney regarding the business
subsidy policy. First, the attorney recommended using language about demonstrated ability. The
second suggestion is to state that only the minimum amount of subsidy needed to make a project
financially feasible can be provided. The commission agreed to the suggested updates. The
proposed business subsidy policy will have two public hearings on September 25 with the EDA
and City Council.
Ms. DiMaggio discussed recent meetings with both established businesses and potential new
projects, including a gas station, an apartment building, the Chanhassen Dinner Theatre, a hotel,
Southwest Transit, and a daycare. She also is working with a dance studio regarding SAC &
WAC fees.
The next Economic Development Commission meeting is scheduled for September 12, 2023.
ADJOURNMENT:
Member Freeman moved, Member Zurek seconded to adjourn the meeting. All voted in
favor and the motion carried unanimously with a vote of 5 to 0. The Economic
Development Commission meeting was adjourned the meeting at 6:48 p.m.
Submitted by Samantha DiMaggio
Economic Development Manager
Prepared by Amy Weidman
Administrative Support Specialist