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Council Proceedings <br />City of New Brighton <br />March 29,1977 <br />Special Meeting <br />He noted that each phase of the plan would have to have <br />detailed plans approved by the Council before any land could <br />be acquired or any property redeveloped. <br />Mayor Bromander noted that the plan proposed use of tax increment <br />financing. He noted that tax increment financing, if it <br />functions properly, would have no direct impact on taxes and only <br />a very small indirect impact. He noted that if general obligation <br />bonds were used, the impact would be total and direct. <br />Paul Rebelein, HRA Commissioner reviewed the proposed plan. He <br />first reviewed the why of the plan, noting the following elements: <br />1. The downtown was the main concern <br />2. Redevelopment was to be self-supporting. <br />3 . Present businesses were to be retained. <br />4. All alternatives for planning and financing were <br />to be explored. <br />5. The historical.nature of the downtown New Brighton <br />was to be preserved. <br />6. The HRA was to become involved only where necessary. <br />He noted it was the recommendation of the HRA that tax increment <br />financing be used as the primary revenue source because of its <br />self-supporting nature. <br />Commissioner Rebelein, next reviewed the what of the plan. He <br />noted that the plan contains a purpose section and then reviewed <br />the following features of the plan: <br />1. A section describing the need for redevelopment. <br />2. A section describing land use, definitions, the <br />category and various phase areas. <br />3. The strategy for redevelopment <br />4. The specific proposals for each of the six phase areas. <br />5. Policy relative to land acquisition <br />6. The policy relative to relocation assistance <br />Commissioner Rebelein then went on to describe the following <br />six phase areas: <br />1. The Hypro Pump industrial area to be commenced in 1978 <br />2. The downtown,' .core area to be commenced in 1980 <br />3. The Old Hwy 8 area, south of downtown to be commenced in <br />1983. <br />4. The area southeast of the poleyards with no definite <br />timetable. <br />5. The southwest quadrant of County Road E and Old Hwy 8 <br />with no definite timetable. <br />2 <br />