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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />April 24, 1990 <br /> <br />Page 6 <br /> <br />Public Hearing - 10:05-10:25 p.m. <br /> <br />Anne Norris, Community Development Specialist, presented for <br />consideration the establ ishment of Tax Increment Financing (TIF) <br />District No. 18. <br /> <br />TIF District #18 involves the areas targeted for redevelopment in <br />the Highway 8 Corridor plan which include Plan Site No. 13 and the <br />west side of 5th Avenue, across from City Hall. <br /> <br />The City is pursuing tax increment redevelopment projects in both <br />areas, and without the City's participation, redevelopment will not <br />occur. Creating the district will insure the City's ability to <br />participate in these projects. The City may use proceeds from the <br />tax increment district to assist with site acquisition and assembly. <br /> <br />Jim Casserly, Tax Increment Consultant, said the Legi s 1 ature has <br />added a provision which requires activity to begin within 13 months <br />after the creation of a TIF district in April 1990. Mr. Casserly <br />noted that New Brighton's TIF program has become a State model and <br />is frequently used at the Legislature to illustrate the <br />effectiveness which cities use TIF packages to their advantage. The <br />last TIF District created in New Brighton was exactly one year ago. <br /> <br />Dan Dahms, 675--4th Avenue NW, stated that he opposes TIF and feels <br />that abuses have occurred in New Brighton. <br /> <br />Childs noted that Remmele Engineering has been in contact with the <br />City in regards to constructing a 100,000 sq. ft facility on the <br />property located at County Road E and Old Highway 8. The downtown <br />area is also being reviewed by a Master Developer. <br /> <br />Benke noted the Council's prudence in creating TIF districts and the <br />conservative estimates which are used in projecting values of each <br />district. The Legislature provides a City the potential to pool all <br />TIF districts' funds to support a district that may be in fault. <br />Historically, the need to fund a default district has not happened <br />in New Brighton. <br /> <br />Motion by Gunderman, seconded by Williams, to CLOSE THE HEARING. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Motion by Gunderman, seconded by Larson, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION MODIFYING PLANS FOR DEVELOPMENT DISTRICT NO. <br />1 AND APPROVING THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT <br />FINANCING DISTRICT NO. 18. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Public Hearing <br /> <br />Establishment of <br />TIF #18 <br />Report 90-95 <br />Resolution 90-31 <br />