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MINUTES <br />CITY COUNCIL <br />OCTOBER 22, 2008 <br />CREATION The City Administrator reviewed his report dated October 17, 2008 <br />OF TIF relative to the City's taking an equity position in property at 2966 <br />DISTRICT - Arcade Street with Masterpiece Horner to get a blighted property <br />ARCADE redeveloped. The Administrator reported that he is exploring the <br />STREET/ creation of a TIF District for this property with Bhlers & Associates <br />LABORE so that assistance could be provided relative to public improvements <br />ROAD AREA to the property as well as readying the property for development. The <br /> Adminisriator requested authority to have the necessary studies done to <br /> document the blighted condition of the property and begin preparation of <br /> the TIF Plan. <br />Keis asked if there would be the need to pursue with TIF if the market <br />turns around. The City Administrator reported that the City would enter <br />into a development agreement with Masterpiece Homes. That Agreement <br />would address that potential if market conditions do not require the use of <br />TIF. The City would be reimbursed its costs, plus interest. <br />Mr. Blesener introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2008-10-279 -AUTHORIZING THE CITY <br />ADMINISTRATOR TO WORK WITH EHLERS & ASSOCIATES ON <br />THE CREATION OFA TIF DISTRICT FOR THE ARCADE <br />STREET/LABORE ROAD AREA <br />The foregoing resolution was duly seconded by Keis. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />ADJOURN Ms. Allan introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2008-IO-280 -ADJOURNING <br />The foregoing resolution was duly seconded by McGraw. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />There being no further business, the meeting was adjourned at 9:57 p.m. <br />. ~ ~.~ <br />Wi lia le ener, Mayor <br />Attest: <br />Joel .Hanson, City Administrator <br />18 <br />