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<br />MINUTES <br />New Brighton Economic Development Commission <br />Regular Meeting – October 5, 2016 <br />7:30 a.m. <br /> <br />Members/Liaisons Present: Chair Paul Zisla, Commissioners Bob Benke, Monica Garcia-Perez, Mike <br />Murlowski, Harry Carter and Graeme Allen <br /> <br />Members/Liaisons Absent: Commissioner Kevin Peck <br /> <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 <br />Motion by Commissioner Benke, seconded by Commissioner Carter to approve the agenda as presented. <br /> <br />Approved 7-0 <br /> <br />Approval of Minutes <br />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 /> <br />Report from Council Liaison <br />There was no report. <br /> <br />Tax Increment Financing Management Plan – Executive Summary <br />Gundlach reported Ehler’s, the City’s public finance consultant, recently completed an update to the <br />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 <br />complete annual TIF reporting to the State Auditor and to assist in various budgeting exercises. The Plan <br />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 <br />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 <br />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 <br />tax rolls by a district decertifying.