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~3 _ .iu 1 J SF1;CIAL CITY COi~P?CIL P ~FTIvG JtTLv 6, 1982 PACxE 2 Larson moved approval of ~a1,281.50 stressing "or Less" and. authorizing Engineer Lemberg and Chief Renchin to meet and came to an agreement to find someone to make these changes at a lovrer price. Councilmember Eggert seconded the motion. ?;i~yor '!'?arkentier, affered ar. a~~~endment to the motion deleting the dollar amount. Counci.lmelr~t;er Eggert with- drew the second to Councilmember Larson's motion and the motionln;as re~rrorded to move that permissian be granted to engineer Lemberg and Chief ~enchin to find the best price for a hose bib line and reel. Councilmember rggert seconded the motion and upon a vote being taken, th.e motion carriod unanimously. The matter v1i11 be discussed further at the rxext meeting. Councilmember Eggert moved, seconded by Councilmember Chestcvich, that the cost cr.: the spray texture coating on the ceiling (~3C0.00) be approved. Aotior. carried unanimously. Councilme;aber aggert moved, seconded by Ccuncilmernber Crestovich, that a type "A" door be installed on Door 29. ~,"otion carried unanimously. ?Mayor ':~~aricenti.en moved, seconded by Councilmember Larson, that the City be responsible for the cost o.f vrirdow coverings in the Fire De?~artment. Motion carried unanirlous7.y. Hiscal Consultant 1~henovreth presented a preliminary development elan and fi_na.ncir~g plan and estimated the cost fcr the entire area at X950,000. :'~meri.can Sr~;elter Corporation must develop the Hawkins- I7ermes property- in order to use the ta:•; 1nCreT:'lent financing ;nethod as it is i_mpossibl.e to have tax increment financing v:.ithout deve7.onmert. 'r?e reco~?upended. t~:a.t for the Ci.tw's protection, American Shelter Corporation be required to --~nter into an agreement to ~aarantee up to 2~ percent of the annual projected tax increment. There shau.ld be a commit~,ent by tlxe de~,~eloper to pay erg-i.neerin~ =ind planning costs if -tire development does net proceed as anticipated. Attorney Swanson ea^?lain~d the tax increment finarci_n>; met?~oci to tl~e Cau.nci7_. He advised that a development agreement should be obtained wrli_ch rec~u.ires a, letter o.r: cr^di..t by th.e de~a 7_oper, 4^;hi.ch ,r.ould. shop,°:- the developer's ability to prcceed. It wGU7_d be a eGr«nlitrpent by the bank to rratride a certain dollar a;r.;aunt to t;ne dev~:laper to proceed v4~i_th the praject. Cour_ci.lmember ~`gert ryuestianed vrhether ~indi_~ and `!'a+,u;:! could be excluded 'rom the storm sevrer district and just inc7_ude the American Shelter project, t,}'ie City Mall and He~.vlett-?ackard so that if to<x increment ~'inarci r~:~ did not proceed, then it would b=.• thn ?-a~^rkins- 'Terz;!es property owners, trle City and iev,•lett-~ae;ca-rca z~~)^io would bear tr1E? CO:it• ,I;}1iC Z''aCl;ld :'ed'lce t:'ie eXpOSiir° to the preSep.~. hO;i~eOVvnerS that r,~ould re.ult from a, fa.i_lure o' American 5he7_ter to dev:7op. Attorne~r Svranson adxTised ti:.at :^,~nen the; str>rm sever d;_strict i_s created, ~",hP. d;.S trl Ct Ca_7nGt be S„1o^.17.s~ ~ ~;:-ian tC1° r?'~.~f 1;.r~d ax'ea is 1~~' ~ t ha.".o the Ca'"'aC1_ty fG bE'nE;f?t a lamer area t}2ari 1S ':;a„•,BCl, It CanTlOu '"e legal7.v done. ~i'atu.~ and I~i.ndi,;; will }iavo to be i_rlc7.uded ir. order to Ut111_ZE' tI"?e COm':~1nCd StOrtn sever/tai` S.nCrF;!'ent fi_nanCln~j' meti:Gd. Continued disc~~ssi.an ens~,~;;d Gn 'love to proceed and it. v;as the consensus of opini.Gn that the :July 22nd public hearing shot;_ld be held, Council- meraber Fg~;ert moved, seconded '~y Councilmer.~~ber ?:arson, that ~:ngineer Lemberg be directed to break dov,•r: the improvement costs so that any wart ca:n be deleted at Counci7.'s discretion. ::':otion carried ~arani.mously. CIJA'.,?Gee ~OPDE~S DUILDIT~;G P':~OJECT Ci~'~yTITI~ LD DISCUSSIO''~T OF TAX I~~?CPL~~~;~7T FINA~?CIi1G 1Y!R STORr:ry Sr' ~;R DIS'I'?ICT