11-17-2021 Workshop Minutes - Laserfiche WebLink

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WORKSHOP MINUTES CITY COUNCIL NOVEMBER 17, 2021 that was created in 2017 for the Suite Living senior housing development, and because of this, we already have a dedicated funding source for acquisition of this property. The City Administrator noted that Minnesota Statute 469.176 sub 6 requires that within four years from the certification date of a TIF district, certain activities must have taken place on each parcel within the TIF district or the parcel is `knocked down' from the district and no increment can be collected from that individual parcel for the duration of the district. The four-year deadline for TIF District 7-1 is January 28, 2024. The only parcels that have met the `knock- down' requirement thus far are the two parcels that the Suite Living project was built on. The City Administrator stated that this parcel is currently a pawn shop and it is expected to be sold fairly quickly. He noted that staff has already had several inquiries about what businesses can be located here, and he expects that a buyer would continue using the existing building. He stated that the property could continue to stay as is for many more years. There was Council consensus to move forward with making an offer to purchase 2750 Rice Street. There being no further business, the meeting was adjourned at 7:21 p.m. John . Keis, Mayor Attest: R Christopher Heinem , City Administrator 2