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<br />APrwl 20, 193
<br />PAGi:3 9
<br /><<a~rar '~~ark.antien opened the Public 'rearing on %edification of Develop-
<br />ment District TJo. 1 and Lstablisl:metit of the Tax IncreTMen•t District
<br />~o. 1 at 10:00 P.i~i. Fie presented the "ifidavit of Publication, ~~ffidavit
<br />of Posting and Certifica}„e of ~u.ili_n~;.
<br />Fiscal consultant Chenoweth pz°esented Devel.op~rent D~? strut ;Jo. 1 ~+~ith
<br />tY'.e oroDased :ncd-i_`'icatians and the Tax Increment r'inanci ng Plan far ;~;onomic
<br />Develop?r.ent District ids. 1. Fie referred to the original development
<br />district as adopted in October of 1982 and the proposed modification
<br />which ~~ould incl.ud.e the area bounded by Larpenteur on the north, Fu~_ham
<br />on the hest, Ficyt on tY~e soot': and Cleveland on the east. He recommended
<br />the aal.an be amended to inaluda the looping of v~ater mains on i~arpcn+~eur
<br />a.nd Cleveland and elevated water storage correcting the estimated costs
<br />to read :781,,000. Councilaa?ember :~~;ert rec,L~estPd s~.ording 'be cha:~er? an
<br />'_'age 3-1, Section 9, to read ''other proposer? development projects to take
<br />pic`~-,C8 ~vithi_n tha devabp:nent distriat'' . ;~,r. Chsno~ti-eth then referred tc
<br />Page ~.~-11, Subc~;ct~.cn ~~ indicating tree expected tax increments that will
<br />be received, administrative costs, capital expenses, ~_n2Jestment earnir~s,
<br />etc.
<br />;s.~rar '.'arkentien closed the Public Hearing at 10:2 P.l.
<br />Gouncilmear~ber ~:b~;ez't stated he would not have an~T problem voti_ns- far
<br />the plan as or~_~;inally presented but has a prabi_em ~,i t,z consideration of
<br />the water tozti'er until. the on~;i Weer can present date fcr the necevsity
<br />of that eXpendi ;ore. F€e re~,azested that iy ne D be reworded in some :a,a~~ner
<br />to reflect }~h:~s, stash as "possi_b1e'' development prajects.
<br />ayror ~~arkenti F:n r~a~v ed, seccnded b;;- CounciZmernbea° iarson that the D' ar
<br />be considered submitted with th.e amend7ients di.scu~~sed on pass ;-'t ; .
<br />specif ca11~T, under section D on that page that the lan;u~.Le be rs•~rordPd
<br />tc sta+e "other possible deg°?lopment projects to ta~de place zti~ithin the
<br />developi«:;~=rzt d~ strict" .<^.nd that th.e Drojected revelopment project be
<br />expanded to sa;~ "e1Fxr.at$d water' s~i,ara~,e and l.oepin~, O.f T,~atei• ma~?.ns ?t
<br />estimated casts to be increased from x;22„000 to :780,000. iet'' O?'?
<br />Carriec~ lznanim0'~sl--. i"' n?1 ~":C t1 On O?'1 +v~'?e m?.tter wi~_~_ ~'A def f?rreC Llnt? i_
<br />L T n . ,+,,,~t• T'^sn l T•tj ..l ~ ..'TYu.~ n~ '{'+"y
<br />afuer uUlyT 1, ~_g~~ tC? ~.1~.C?o"' tF~'.C 1~~_u~ ~,O ..tt.e.~__.., c:~... :-t,r,_.ly .._w' uet.. 7n-
<br />crfiments pe~~*^z teed ~r la~v
<br />'Manner gar? ~.a~.e p't"Q;sGntC!! hi `% e!?c:1S far de'J°lapment of tF':2 iaUr COrtie.~
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<br />T)~~ vi'7 •r~ - y"~ i r' ~' ?il'f ,~.t Y+~r !lt ,~. nr?+Yt1 fi ^1,~,'j,^~_ "1 !t +n ~Y,
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