EDA 2003 10 27CHANHASSEN ECONOMIC
DEVELOPMENT AUTHORITY
SPECIAL MEETING
OCTOBER 27, 2003
Chairman Furlong called the meeting to order at 5:00 p.m.
MEMBERS PRESENT: Tom Furlong, Brian Lundquist, Steve Labatt, Craig Peterson, Bob
Ayotte, and Jim Bohn
STAFF PRESENT: Todd Gerhardt, Executive Director; Justin Miller, Assistant Executive
Director; Bruce DeJong, Finance Director; and Bob Generous, Senior Planner
APPROVAL OF AGENDA: The agenda was amended to include a resolution approving the
interfund loans to the Downtown Tax Increment Financing District as item 2.5.
APPROVE FINDINGS ON 4 PRE-CONDITIONS TO EXTEND THE DOWNTOWN TAX
INCREMENT FINANCING (TIF) DISTRICT FOR ONE YEAR.
Bruce DeJong presented the staff report on this item, and presented an amendment to condition
number 3.
Resolution #2003-05: Labatt moved, Lundquist seconded to approve the amended Findings
on Four Pre-Conditions to Extend the Downtown Tax Increment Financing (TIF) District
for one year. Ail voted in favor and the motion carried unanimously with a vote of 6 to 0.
APPROVE TRANSFER OF NON-TIF REVENUE FROM THE DOWNTOWN TAX
INCREMENT FINANCING DISTRICT TO HISTORIC PRESERVATION.
Bruce DeJong presented the staff report on this item.
Resolution #2003-06: Peterson moved, Bohn seconded that the non-increment revenues of
$2,688,128 be transferred from Fund 460-Downtown TIF to Fund 800-Historic
Preservation. All voted in favor and the motion carried unanimously with a vote of 6 to 0.
APPROVE A RESOLUTION APPROVING INTERFUND LOANS TO THE
DOWNTOWN TAX INCREMENT FINANCING DISTRICT.
Bruce DeJong presented the staff report on this item, stating the City Council has approved these
loans in 2001, but the EDA has not acted on it. Mayor Furlong asked staff to provide some
background information on this item since he wasn't on the City Council in 2001.
Resolution #2003-07: Peterson moved, Ayotte seconded to approve the Interfund Loans to
the Downtown Tax Increment Financing District. All voted in favor and the motion carried
unanimously with a vote of 6 to 0.
Todd Gerhardt stated staff will highlight these amounts in the year end financial statements.
APPROVAL OF MINUTES: Labatt moved, Bohn seconded to approve the Minutes of the
EDA meeting dated October 13, 2003 as presented. Ali voted in favor and the motion
carried unanimously with a vote of 6 to 0.
Economic Development Authority - October 27, 2003
Justin Miller provided an update on the bowling alley site. Chairman Furlong thanked staff for
all their hard work on that project. Todd Gerhardt provided an update on the Red-E-Mix site, and
informed the EDA that the New Horizon and office building proposals had fallen apart.
Chairman Furlong adjourned the EDA meeting at 5:45 p.m.
Submitted by Todd Gerhardt
Executive Director
Prepared by Nann Opheim