I mean opposed say nay motion carries.

Uh I'll now call to order the Rochester Economic Development Authority meeting for February 19th, 2025.

Um before we get started, I'm gonna recommend that we adjust our agenda to handle item 5a, which is the appointment of EDA officers first up under uh organizational business.

So is there a motion to do this?

I'll second uh motion made by Councilmember Miller, seconded by council member Keene.

Um so uh we are at organizational business, and I'll have uh Mr.

Brett Sven B talk about our employee uh appointment of officers uh for the EDA.

Yep.

So the council serves as a Rochester Economic Development Authority, and based on the bylaws for the EDA.

The bylaws requires that the officers be established each year.

So um there's five officers involved with the EDA.

One is a president, vice president, the treasurer, assistant treasurer, and secretary, and typically the secretary is the city clerk, the assistant treasurer is a finance director, and typically the president of the council is also the president of the EDA.

So we're looking for some discussion with the EDA in regards to the president, vice president, secretary, treasurer, and assistant treasure.

All right.

Are there any uh is there uh nominations for these offices?

I'd like to make a motion to nominate our 2025 EDA officers as President Schuebring, Vice President Palmer, Treasurer Keene, Assistant Treasurer, the City Finance Director, and the Secretary of the City Clerk.

Second Are there any other nominations?

Are there any other nominations?

Seeing no other nominations, all in favor of the slate presented by uh councilmember Fredericks, please say aye.

Aye.

Any opposed say nay.

Thank you.

Um congratulations, officers.

And we will move on to our consent agenda.

There's one item on our consent agenda.

It is the minutes for the RDA for December 9th, 2024.

Is there a motion to approve the consent agenda?

So moved.

Second.

Moved by uh councilmember Palmer, seconded by councilmember Doring.

All in favor say aye.

Aye.

Any opposed say nay.

Uh moving on to our public hearings.

We have uh one public hearing.

It's the establishment of the uh economic development district number 84 and the DMC redevelopment tax increment financing district number 841, and this is being presented by Mr.

Svenby.

So before you this evening is a public hearing um for the establishment of tax increment financing district number 84-1, which is labeled as a West Transit Village Project.

Um the West Transit Village Project is a Westley terminus of the link, which is city's BRT project.

Um so the vision there is not just for a parking ramp but also to have housing and retail uses, etc.

on the site.

So we are before the EA EDA this evening, um, holding this public hearing to establish the TIFF district that would allow us to it's important for us to establish this TIFF district now before any permits are pulled for any types of structures within the West Transit village.

So that's why we're here before you this evening.

So the city team continues to work with BMC team and also a potential developers of the housing developments for the site.

So in the vision is approximately about 300 market rate units on the site and about 200 affordable units on the site.

So by establishing this um TIFF district now, it will allow us to capture increment tax increment from the various projects within the site itself.

So just a reminder to the EDA that um TIFF is a financing tool established by the state that is available to support local economic development, redevelopment, and housing development.

Um TIF is not a tax reduction.

Um taxes are can continue to be paid on the property.

It's where this the increase in the taxes are captured, and that could be paid to the developers to help fill a financial gap in their project.

So at this time we're just asking that the district be established.

We will continue to work with the developers for the housing developments within the site itself, and eventually we'll be back for the EDA for approval of development assistance agreements, which will lay out in detail the developments themselves in regards to the housing mixture and the amount of assistance to be to buy it for each developer, assuming that um we can ensure that we are filling the financial gap on their projects.

So at this time we're just opening the public hearing and then closing the public hearing on the establishment of the TIFF district.

Thank you, Mr.

Svenby.

At this time, I'll open the public hearing.

Uh, if anyone wishes to be heard on this item, please step forward and uh identify yourself.

You have five minutes.

If anyone wishes to be heard on this item, seeing none, I will close the public hearing and invite my colleagues to uh for any questions that they may have on this item.

Seeing none, is there a motion to approve this item?