Laserfiche WebLink
<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />February 13, 1996 <br /> <br />Page 6 <br /> <br />Council Business continued <br /> <br />Locke presented the creation of a replacement TIF District for the existing TIF #21 and <br />#22 district.,>. New legislation concerning TIF development has been passed, and the <br />replacement of these districts would avoid possible state aid reductions. <br /> <br />Samuelson asked the benefits for consolidating these districts. Casserly said that under <br />original legislation, the City was subjected to a local government aid loss amounting to <br />$750,000. With new legislation, the City can elect to make a 10% contribution to the <br />increment generated and thus avoiding reductions in state aid. Benke asked what would <br />happen if the City did not make this change. Casserly said the project would then be in <br />a deficit position. A combined district would result in positive cash flow. <br /> <br />Motion by Gunderman, seconded by Williams, to AUTHORIZE STAFF TO SET A <br />PUBLIC HEARING AND PUBLISH NOTICE OF A HEARING TO CONSIDER <br />THE REPLACEMENT OF TAX INCREMENT DISTRICTS #21 AND 22. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Council Business <br /> <br />New TIF District <br />Report 96-045 <br /> <br />Fulton said the 530 Building, 530 - 5th Ave. NW, recently went into foreclosure. The 530 Building <br />Western Bank in Mounds View is asking $787,000 for the property, but the City could <br />acquire it for $741,000. Two parcels are included with the building. This purchase <br />would be consistent with the City's long term goals for redevelopment, and the extension <br />of Co. Rd. E-2 to Old Hwy 8. Railroad spurs and a small portion of the MacGillis and <br />Gibbs site would need to be crossed. The property is currently 30 % occupied by <br />tenants. Gunderman noted that the building generates $32,000 per year in taxes. <br /> <br />Fulton explained that the EP A and MPCA continue to have discussions with MacGillis <br />and Gibbs regarding enforcement of environmental regulations. However, Federal <br />funds associated with the clean up are limited due to budget cutbacks. Staff will <br />continue the negotiation process for this parcel and will report back to Council. <br /> <br />Announcements and Updates <br /> <br />The annual employee appreciation breakfast will be February 14. <br /> <br />The City will send a congratulatory letter to the newly appointed School District #621 <br />Superintendent and extend an invitation for a future meeting with Council. <br /> <br />Ramsey County League of Local Governments will meet on February 29. <br /> <br />Adiournment <br /> <br />Motion by Williams, seconded by Samuelson, to ADJOURN THE MEETING. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />~ <br /> <br />Meeting was adjourned at 9:05 p.m. <br /> <br />ATTEST; ~~~ <br />Margaret A. Egan, Clt Clerk <br /> <br />Announcement,> and <br />Updates <br /> <br />Employee Breakfast <br /> <br />#621 Superintendent <br /> <br />RCLLG Meeting <br /> <br />Adjournment <br />