1998-04-28 - Laserfiche WebLink

Home Browse Search

I I I Council Meeting Minutes April 28, 1998 Page 3 Public Hearini. continued Samuelson asked for clarification of the decertification of TIF #24, Bishop explained that Tax Increment law requires that at least one of the following activities occur in the district within three years of creation: bonds being issued, property acquired, or construction of public improvements. None of those occurred which then required the decertification. Benke noted that Tax Increment law and its conditions change year from year and in this case the three year implementation period was not possible, Under the terms of the program, the City needs to decertify this old district and create a new district. There were no comments from the audience. Motion by Samuelson, seconded by Gunderman, to CLOSE THE PUBLIC HEARING. 5 Ayes - 0 Nayes, Motion Carried, Motion by Samuelson, seconded by Hoffman, to WAIVE THE READING AND ADOPT THE RESOLUTION DECERTIFYING TAX INCREMENT DISTRICT NO. 24, MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO.1, MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT DISTRICT NO.1 THROUGH 20, DISTRICT NO. 23, AND NOS. 25 THROUGH 27 AND CREATING PROPOSED TAX INCREMENT FINANCING DISTRICT NO. 28 AND APPROVING AND ADOPTING THE PROPOSED TAX INCREMENT FINANCING,PLAN RELATING THERETO. 5 Ayes - 0 Nayes, Motion Carried. Bishop presented the public hearing for creation of TIF District #27 and modification of Development District #1 which encompasses the northwest corner of Cleveland and Co. Rd, D. TIF #27 is needed for the redevelopment of Ken's Market and Higher Grounds Coffee Shop. Previously, Council authorized entering into a development agreement with Nutec Construction for redevelopment of the site. Necessary documents have been prepared, and notifications have been provided to Ramsey County, Mounds View School district and the public. The Planning Commission reviewed proposed TIF plans to determine consistency with the Comprehensive Plan. The expanded District will allow Tax Increment Districts to be created within the Development District without the need to expand it each time. The new areas included are consistent with the Old Highway 8 Corridor Vision. Benke verified that the areas identified in Development District #1 indicate availability for consideration of projects, but does not necessarily mean there is an upcoming project, Bishop added that those areas indicate opportunities for TIF monies. There were no comments from the audience. Motion by Larson, seconded by Samuelson, to CLOSE THE PUBLIC HEARING. 5 Ayes - 0 Nayes, Motion Carried. Public Hearin~ Decertification TIF #24, Creation of TIF #27, TIF #28, Modification of Dev. District. # 1 Report No. 98-089 Resolution No, 98-045 Resolution No, 98-046 Resolution No, 98-047