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<br />REQUEST FOR COUNCIL CONSIDERATION <br /> <br />Report Number: <br /> <br />VII -9 <br />83-8l <br /> <br />CITY OF NEW BRIGHTON <br /> <br />Agenda Section: <br /> <br />Report Date: March 18, 1983 <br /> <br />ITEM DESCRIPTION: APPLICATION FOR lNDUSTRIAL REVENUE BONDS <br />WINFIELD DEVELOPMENTS, lNC.jNEW BRlGHTON VENTURE I <br /> <br />DEPT. HEAD'S APPROVAL: <br /> <br />NA <br /> <br />MANAGER'S REVIEW/RECOMMENDATION: <br />No comments to supplement this report p. <br /> <br />Comments below / attached <br /> <br />EXPLANATION/SUMMARY (attach supplemental sheets as necessary): <br /> <br />EXPLANATION <br />On February 22, 1983 the Caunci1 received an app1icatian for Industrial <br />Revenue Bands~IRB's) fram Winfield Deve1apments, Inc./New Brighton Venture <br />I. The amaunt of IRB autharizatian requested was $5.5 mi11ian. The <br />praject 'invalves a phased development af 3 buildings with a tata1 develap- <br />ment of appraximate1y 125,000 square feet. <br /> <br />An app1icatian far site plan appraval, LP-141, has been submitted and is <br />an agenda item far the March 22, 1983 Cauncil meeting. A develapment <br />agreement will also. be cansidered by the Cauncil an March 22. <br /> <br />The present request is far a praject within what has been cansidered to. be <br />the Old Highway #8 carridar, is a praject cansistent with the Camprehensive <br />Plan, al1aws far greater land utilizatian, creates greater emplayment <br />appartunities and greatly increases the tax base an this praperty. <br /> <br />Winfield Develapment has praven on ather metra area prajects to. be <br />tharaugh and dependable. My apinian is that the IRB's are warthy of <br />cansideratian. <br /> <br />RECOMMENDATION <br />To. waive the reading and adapt a RESOLUTION GIVING PRELIMINARY APPROVAL TO <br />A PROJECT UNDER THE MUNIClPAL INDUSTRIAL DEVELOPMENT ACT, REFERRING THE <br />PROPOSAL TO THE COMMISSIONER OF THE DEPARTMENT OF ENERGY, PLANNING AND <br />DEVELOPMENT FOR APPROVAL, AND AUTHORIZlNG PREPARATION OF NECESSARY <br />DOCUMENTS. <br /> <br /> <br />:1.7JJJ <br /> <br />s F. Winkels, Directar <br />munity Develapment Department <br />