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<br />1 <br /> <br />III <br /> <br />I <br /> <br />Council Meeting Minutes <br />March 14, 1989 <br /> <br />Page 9 <br /> <br />Council Business, continued <br /> <br />Anne Norris, Community Development Specialist, presented for <br />consideration the request for extension of option agreement by Opus <br />Corporation for Property in TIF District #6. <br /> <br />Opus Corporati on is requesti ng a three-month extens i on on the i r <br />option agreement with the City for the northerly parcel in TIF <br />District #6. The original option agreement was for three months <br />beginning September 1, 1988, and included a provision for extending <br />the option another three months to March 1, 1989. Opus would like <br />to extend the option to June 1, 1989. <br /> <br />Opus is proposing a 60,000-70,000 square foot office building for <br />this site and indicated that they are very close in securing a <br />tenant for this project. <br /> <br />A representative from Opus Corporation was scheduled to attend the <br />Council meeting but was unable to because of the snowstorm. <br /> <br />Locke and Norri s wi 11 meet on Wednesday, March 15, 1989, with <br />representatives from Opus to discuss the building, site plans, and <br />begin zoning approvals. <br /> <br />Motion by Williams, seconded by Brandt to AUTHORIZE THE EXTENSION <br />OF THE OPTION AGREEMENT BETWEEN THE CITY OF NEW BRIGHTON AND OPUS <br />CORPORATION FOR THE NORTHERLY PARCEL IN TIF DISTRICT #6 FROM MARCH <br />1 TO JUNE 1, 1989. <br /> <br />3 Ayes - 0 Nayes, Motion Carried <br /> <br />Norris presented for consideration the resolution scheduling a <br />public hearing to consider creating Tax Increment District #17. <br /> <br />The TIF #17 would accommodate the proposed Allen project on the <br />Pipkorn and Morrison properties. In order to participate in this <br />project, the City needs to create a tax increment financing <br />district, which requires a public hearing. <br /> <br />The City is required to prepare a tax increment financing plan for <br />each TIF district and provide the plan to both the County and School <br />District 30 days prior to the public hearing. The public hearing <br />is proposed to be held on April 25, 1989. <br /> <br />Council Business <br /> <br />Extension of Option <br />Agreement by Opus <br />Report 89-73 <br />Resolution 89-40 <br /> <br />Public Hearing of <br />Creation of TIF #17 <br />Report 89..74 <br />Resolution 89-40 <br />