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<br />MINUTES <br />New Brighton Economic Development Commission <br />Regular Meeting – October 5, 2016 7:30 a.m. <br />Members/Liaisons Present: Chair Paul Zisla, Commissioners Bob Benke, Monica Garcia-Perez, Mike <br />Murlowski, Harry Carter and Graeme Allen <br /> Members/Liaisons Absent: Commissioner Kevin Peck <br /> Staff Present: Janice Gundlach – Assistant Director of Community Assets & Development/Planning <br />Director, Craig Schlichting – Director of Community Assets & Development, Brenda Davitt – Finance <br />Director and Mayor Johnson <br />Also Present: Jason Aarsvold, Ehlers and Jeanne Vogt, Ehlers <br />Call to Order <br />Chairperson Zisla called the meeting to order at 7:30 a.m. <br /> <br />Approval of Agenda Motion by Commissioner Benke, seconded by Commissioner Carter to approve the agenda as presented. <br /> <br />Approved 7-0 <br /> <br />Approval of Minutes Motion by Commissioner Carter, seconded by Commissioner Benke to approve the minutes from the <br />September 7, 2016 meeting. <br /> <br />Approved 7-0 <br /> Report from Council Liaison There was no report. <br /> <br />Tax Increment Financing Management Plan – Executive Summary Gundlach reported Ehler’s, the City’s public finance consultant, recently completed an update to the City’s TIF Management Plan. The last update occurred in 2015 and was discussed by the Commission <br />on May 29, 2015. The purpose of the TIF Management Plan is to review the financial state of the City’s <br />active TIF districts and to determine if there are any actions that need to be taken for the overall <br />financial health of the district(s). The Plan also provides detailed financial information that is needed to complete annual TIF reporting to the State Auditor and to assist in various budgeting exercises. The Plan also provides real time accounting of all revenues and expenses for each district. Staff reviewed the <br />highlights of the Executive Summary as follows: <br /> <br />• Page 6 provides a summary of each active TIF district, including current obligations and expected 2016 TIF revenue. <br />• Pages 7 and 8 summarize where bond proceeds have been spent. <br />• Page 9 provides a table illustrating the current market value increase realized in each district. <br />• Page 10 illustrates projected captured TIF Tax Capacity in each active district, districts decertifying in the next three years, and a comparison of New Brighton’s tax base captured in <br />TIF compared to other communities. <br />• Page 12 provides a table illustrating how much additional annual tax capacity is returned to the tax rolls by a district decertifying.