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Council Meeting Minutes July 12, 1994 Page 2 Consent Al!enda. I s. CONSIDERATION OF APPROVAL OF THE PURCHASE OF A PORTABLE ELECTRIC GENERATOR FROM CARLISON EQUIPMENT IN THE AMOUNT OF $15,803.48. 4 Ayes - 0 Nayes, Motion Carried. Public Hearin&" - 7:34-7:40 p.m. Community Development Director Kevin Locke presented the continuation of the public hearing for the creation of TIF #24 and the modification of Development District #1. The public hearing was continued to allow staff to gather additional information to further define the parcels within the redevelopment area. The revitalization of the Rice Creek Shopping Center is an important piece in the redevelopment of this area. To begin the process of redeveloping this area, a TIF District should be established. The City is pursuing a development agreement with G & P properties for the redevelopment of the area. Projects suggested in the redevelopment include: upgrading and revitalization of the Rice Creek Shopping Center, senior housing facility, and possible senior center. The area included in the TIF district was selected in order to maximize flexibility in the revitalizing of the Rice Creek Business District. I Benke noted that the easterly boundary of the district includes the Silver Lake Road right-of-way (ROW), and asked if this inclusion would create any problems with road improvement projects or TIF financing. Locke does not feel this inclusion would create a problem because public improvements made within a public ROW are able to utilize TIF financing. Samuelson asked why Meadow Wood Park has been included in Development District #1. Locke said that inclusion of the Park would facilitate the ability to extend dollars for future modifications performed at the Park which may be created by redevelopment within that area. Locke confirmed that the City does not foresee any park improvements at this time. There were no comments from the audience. Motion by Williams, seconded by Larson, to CLOSE THE HEARING. 4 Ayes - 0 Nayes, Motion Carried. The hearing was closed at 7:40 p.m. Motion by Williams, seconded by Samuelson, to WAIVE THE READING AND ADOPf TIlE RESOLUTION MODIFYING PLANS FOR DEVEWPMENT DISTRICT #1 AND APPROVING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT #24. I 4 Ayes - 0 Nayes, Motion Carried.